(Download available within 1-2 hours)A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace
Tim Randle here.
A few months ago I spent a long weekend locked up with a small group of Real Estate alchemists at the REIClub Foreclosure Academy. It was content dense for novice and experienced Investors alike.
And that’s not just my opinion. These people were there:
“Best Real Estate training I’ve been to and I’ve been to dozens and dozens”
“I was very much impressed with the wealth of content and the simplicity of its presentation”
“The amount of content is amazing”
“This is the most educational event in the industry”
“No nonsense delivery of so much information in an understandable manner”
“There was massive education and information”
“Professionalism of entire presentation – quality presenters, timely info”
“Very dense content”
“Good content without parade of pitches for products”
“More information in 3 days of the Foreclosure Academy than other so called Real Estate Gurus”
“So many experts in one place at one time”
Here’s the situation…
New York Times, April 2010:
“About seven million households are behind on their mortgage payments.”
NPR, April 2010:
A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.
RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009.
“We’re right now on pace to see more than 1 million bank repossessions this year,” said Rick Sharga, a RealtyTrac senior vice president.
In all, more than 900,000 households, or one in every 138 homes, received a foreclosure-related notice, RealtyTrac said.
USA/Today, October, 2010:
The epidemic is spreading from the states at the ground zero of the foreclosure problems out into areas that hadn’t been previously affected,” said Rick Sharga, a senior vice president at RealtyTrac.
The trend is the latest sign that the nation’s foreclosure crisis is worsening as homeowners facing high unemployment, slow job growth and uncertainty about home prices continue to fall behind on their mortgage payments.
In all, 133 out of 206 metropolitan areas with at least 200,000 residents posted an annual increase in foreclosure activity in the three months ended Sept. 30, RealtyTrac said.
“Eleven out of the nation’s 20 largest metropolitan areas saw foreclosure activity increase in the third quarter compared to the same period last year.”
Oh and that great Obama foreclosure prevention program…
About 231,000 homeowners have completed loan modifications. And completions are declining.
That’s what you’d call a spit in the ocean.
This news could take your breath away except with all the superlatives (bubbles) we’ve seen a mere 10 years into this Century it’s hard to have any breath left.
In 2008, banks took back (repossessed) 96% of the defaulted properties at auction. In 2009 that dropped to 25%.
What does that mean?
Through 2008 a vast, vast majority of mortgage defaults turned into REO’s. After the 2009 New Year rung in, banks sobered up a bit and realized REO’s were crushing them and that Short Sales resulted in much lower losses.
But banks are still banks which seems to be synonymous with less than complementary terms such as stupid, obstructionists, and, well I’m sure you can add your own terms.
Just because Short Sales are the much SMARTER solution for all involved doesn’t mean they’re ready, willing and able to actually help make them happen easily.
That’s one of those bad news/good news things.
I certainly haven’t revealed any earth shattering news above. We all know:
Mortgage defaults are a mega huge problem.
We also know by our own personal experience or the harried tales we’ve heard, doing Short Sales ranks up there somewhere between a thousand razor cut torture and a 5-hour water boarding session.
And we also know – or at least highly suspect – that A SMALL MINORITY of Investors are banking gold with Short Sales.
That’s what I want to tell you about –
An alchemist is someone who can change (transmute) base metals – which have little value – into gold, which over the span of history has had great value.
Some view an alchemist as a chemist. Some believe he is more of a magician.
I mentioned earlier that I spent the weekend with a small group of elite Real Estate Investor alchemists. They held a 3 long day Foreclosure Academy – a super intense weekend of amazing stealth and hyper effective Short Sale know how.
The Short Sale opportunity – which is huge and getting even bigger – has been illusive and frustrating for so many investors who have furiously tried to break into the vault.
Crushing for them.
But for the few that actually know how to turn the dials… the rewards are huge.
It all came together for the students who attended the REIClub Foreclosure Academy…
(4 hours, 12 minutes of detailed Short Sale insider information.)
Take careful notes as Jerami completely peels back each layer of the Short Sale onion and learn the exact package every lender will want. Covers letters, hardship letters, HUD1, order of the package, where to send it to, how to get it assigned quickly, and other paperwork you’ll easily know, good enough to train your team members to do for you. Who knows better than a former bank top-level Loss Mitigator insider. And he’ll reveal every form, disclosure, addendum and clause you need to foolproof your offer and limit your liability.
(4 hours, 55 minutes of precise legalese made understandable.)
Contracts, addendums, disclosures, oh my. Use the right legal tools and you’re in good. Use the wrong legal tools and you literally could wind up bankrupt. But there’s something even more elite about the completely innovative and unique contract strategy Josh and Jeff use. It’s even trademarked and NOBODY else has this down… nor will they ever be able to rip it off (without landing in their own legal boiling pot of water).
Yea, it’s sort of an option contract… but much more stealth. And it’s sort of like a land contract… but way more effective and tax beneficial. And besides title companies and lenders have virtually shut out land contracts. Quite simply this is the best method to make cash in the Short Sale market… it’s also the most tax beneficial and liability limiting.
To those not privy it simply walks like a duck and quacks like a duck… so they think it’s just the same ole duck, but in reality it’s a tiger.
(5 hours, 49 minutes of marketing from core concepts to advanced strategies.)
We all like the thrill of a deal strategy. Let’s face it – you can know 17 ways to short sell, 15 methods to flip houses, 22 tricks of wholesaling but the hard fact is:
if you don’t have buyers or sellers, you don’t have squat.
How do you get more done for less? Automate and systematize. The Marketing sessions are packed with both solid basics and little known, leading edge methods to keep your pipeline full.
(5 hours, 59 minutes of beyond the single deal, how to create a wealth building business.)
For some folks Real Estate Investing is a hobby. We wish them well. For the serious Investor – part time or full time – it’s a business with a profit objective… a huge profit objective.
Other courses may teach you some methods or techniques but no matter what type of investing you choose to focus on, until you learn how to work as a systematized business you’ll always be trading hours for dollars.
Special Bonus #1:
Virtual Assistants –
Expert Interview with Alan Brymer
Alan has been a successful full time investor since the age of 22. He’s Founder and President of the Utah Valley Real Estate Investors Association and creator of The Assistant Who Pays Their Own Salary.
Alan learned one simple rule early on: You can make more money if you don’t do everything yourself. This interview is packed with practical how & what to and what not to do to expand your business AND have a life.
Special Bonus #2:
How To Hire Your Real Estate Dream Team
Top Real Estate Investors are not a one-person team. There’s simply too much to do… too many different skill sets. Each person on your team can increase your profit or cost you. Assembling your dream team puts you at the center of control.
Special Bonus #3:
“Proof of Funds” Letter to Help Close Your Deals
When you have back-to-back closings, unless you’ve got tens of thousands to sink into a deal, you’re going to have to pre-qualify.
That means a “proof of funds” letter. Believe me, these things aren’t free – and you typically have to qualify for it.
But when you have an “A – B” sale, and you line up a “B – C” sale, you’re gonna need to pre-qualify, and this is the fastest and easiest way. You can make a lot of cash while saving a ton of time with this valuable letter.
Special Bonus #4:
Use Our Money to Close Your Deals
Once you start rolling with multiple deals, you’re might find yourself in a tight spot where you need some quick, at the closing table, cash. That’s where “transactional funding” leaps in to rescue you.
Whether it’s a short sale, REO, whatever…
…they can often make it happen when you need it. We’ll introduce you to a funding source that will make your deal possible – and allow you to improve your closing rate!
Course Requirement: Tim Randle – Foreclosure Academy 3 Day Boot Camp
Real Value: $497
One time cost: USD62
Our support staff is the best by far! please do not hesitate to contact us at email: [email protected] and we’ll be happy to help!
You want to get “Tim Randle – Foreclosure Academy 3 Day Boot Camp” now right?!!!
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