Foreclosure is the new 0F0 word, carelessly tossed about as freely as recent job loss numbers. Foreclosure is ugly for the family with children losing their home. It0s ugly for the mortgage lenders not equipped to confront this uncontrollable epidemic. It0s damn ugly for the Realtors trying to help sellers in distress and buyers searching for a bargain.Ready or not, here we are and here we go.
Welcome to Real Estate 2008! For families in jeopardy of losing their homes, the only real alternative from foreclosure is to negotiate a short sale NOW0not later.
If you0re behind in payments and your mortgage lender (cannot) help you modify or work out your loan, immediately call a Realtors who *specializes* in short sales. Do it now. Do not wait for a better day, and do not call the greedy, unlicensed bastards masquerading as 0foreclosure specialists0 throwing their bandit signs up on every street corner and filling your newspapers with ads and your mailbox with touching stories wanting to help you.
Absolutely avoid theses wolves in sheep0s clothing.
Today was a really bad day. I failed to help a single mom with three kids avoid foreclosure. It was a painful experience for me. And of course it […]
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There are lots of people in other Countries, and here in America, that would love to own a home here in America but do not believe they can because they do not have a green card or are not legal residents.
There are 2 programs that can help especially if
1.) you live in another country and do not have any credit here in America.
2.) you live here but do not have any legal status
First Lets talk about the buyers that are currently living in other countries. If this is you then you are considered a Foreign National and as such there are certain items you need to have in order to purchase a vacation home or rental property here.
This loan requires 10 to 25% down depending on what country you are from as well as the following:
a. you need a passport and a visa that allows you to come here at varying times(if your country does not need a visa to come here then you require a “cedula de identidad” or other government issued ID).
If your country does require a visa to enter the U.S. but you do not have one then you can still purchase but only as an investor(slightly […]
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The goal of any credit repair program is to improve your FICO score. A FICO score was developed by the Fair Isaac Co. to help determine the likelihood of you paying if a company agrees to loan you money. Fair Isaac s the only ones who know exactly what makes up their algorithm, which is the mathematical formula used to calculate your score
FICO scores are calculated from five factors reported from the three major credit reporting agencies. These five factors are how well you pay, how much do you owe, how long have you had credit, how much new credit do you have, and what types of credit are you using. Seven additional factors are then added and using a 0secret formula0 Fair Issac determines your score.
Included in your payment history are items like bankruptcies, judgments, suits, liens, wage garnishments, collection items and delinquencies. Credit availability, includes how much you owe, what types of accounts they are, and what percentage of all the credit you have that you are using. Under length of credit history the items that are considered are how long your accounts have been opened, what types of accounts they are, and and when did you last […]
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