Definition: The delinquency is added to the loan balance in order to bring your payments up to date. Adding past due loan amounts to your current loan balance increases your loan balance and will also increase your monthly payments. The amount of the payment increase will be smaller if the life of your loan is extended at the same time as well. This is a good option if the reason for your mortgage default was temporary and your future income will support the new payment.

Go here for more Foreclosure Coaching

Originally posted 2008-06-16 13:20:46. Republished by Blog Post Promoter

The other night, Virginia from Irving Texas asked on this weeks Massive Profits in Foreclosures call “ Will this change the landscape for investors working with those in Foreclosure?”

The Answer is YES- – -for the better.

You be the good person to help the homeowner make sure they have evaluated all their options.

These are two ways you can help the homeowner take action before foreclosure:

#1 Learn and share all options available to the homeowner if they do not want to sell their house. You can find those in this book, ‘Avoid Foreclosure Following the SMART STEPS Plan’.

#2 Make sure they have done all they can with Project Lifeline.

This project allows you, as the investor, more time to work with homeowners on a plan to buy their house should the bank’s option not meet the homeowner’s needs.

What is Project Lifeline?

The program would let qualified homeowners who are at least 90 days late on their mortgage payments pause the foreclosure process for 30 days. During the extra time provided by the program — called Project Lifeline — lenders and borrowers would try to work out more affordable terms.

“Project Lifeline is aimed at homeowners who face a real risk of losing their home and have not yet addressed the problem,” he told reporters. “Perhaps they are hoping to find a way to get current on their mortgage payments, or perhaps they don’t think any solution is possible. For whatever reason, they have not yet taken action. Our hope is that today’s announcement will reach them, and they will reach out immediately for help.” Secretary of the Treasury Henry Paulson.

On a pilot basis, the plan involves only six of the largest mortgage lenders, in hopes that more lenders will sign on. The participants are Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., JPMorgan Chase & Co., Washington Mutual Inc. and Wells Fargo & Co.

“Achieving contact with homeowners to present available options is the biggest obstacle we face in avoiding preventable foreclosure,” said Bank of America’s Floyd Robinson.

You can help the banks biggest obstacle by making sure anyone you talk to in foreclosure knows about Project Lifeline. This means you will be working with those in foreclosures with the “integrity and passion”. Remember to encourage the homeowner to contact you first to buy the property if things are not worked out with the bank. And wish them the best. It’s the right thing to do.

Tamera Aragon
Success Trainer and Coach
Ispiproperties.com

Originally posted 2008-02-14 08:17:22. Republished by Blog Post Promoter

Hope for tomorrow….

These words are from a “tag line” I used to put under my real estate investing business name.

“Support for today, hope for tomorrow.”

Even though I don’t use that tag line any more, it is still the basis for all I do.

Now more than ever, I plan to continue to support others with all that I have to offer and in the process, providing hope.

I know this is last minute – but some extra seats just opened up.

I wanted to give you an opportunity to receive a free trip and free training when you join me in Las Vegas this coming Sunday, April 10^th.

www.investorcommunityofcentralvalley.com/treasurehunt

What’s this got to do with hope? Well, I think the biggest financial hope is investing in profitable real estate today.

What does hopeful  real estate investing look like?

You want to buy greatly discounted properties… resold quickly for a huge profit to you!

• But how do you get the properties at a discount?
• How do you sell quickly in this crazy market?

If you really want to know how it is being done today, then I hope you will consider flying over to Vegas with me on Sunday, April 10^th.

Yes – FREE TRIP AND FREE TRAINING – on how to buy and quickly flip properties on the Court steps.

NO UPSELLS~!   This trip offers “watch and learn” free training on what I think is the best way to profit from flipping in today’s market.  I am so excited about this system; you will be able to watch as I am personally investing my money this weekend myself.  I think this is the fastest, easiest way to get properties purchase for bottom dollar and sold at top dollar fast.

When you come to Las Vegas, you will see how it is done as the pros do the evaluating, buying and selling for me – right before your very eyes.

To good to be true?  Find out it IS true- when you come!

www.investorcommunityofcentralvalley.com/treasurehunt

Don’t you agree….this is the best time to let me help you quick flip as many houses you can?  Join me for a super exciting Las Vegas trip that’s guaranteed to be lots fun and should be a huge moneymaker for you too! The foreclosure bus takes you straight to the deals!

Your super fun moneymaking Las Vegas trip is really free! Your trip includes your 2 nights at a popular hotel in Vegas…along with your personalized Las Vegas foreclosure treasure hunt tour, including a trip to the court steps during an auction to see how it is done.

It’s easy and it’s fun!  And FREE!

You still have time to BOOK YOUR FREE LAS VEGAS TRIP FOR THIS WEEKEND NOW – only 6 more seats left on the bus.

You have everything to gain and I think nothing to lose when you take time to join me in Las Vegas for this complimentary Las Vegas foreclosure treasure hunt. Space is limited and these Las Vegas foreclosure treasure hunts are almost always filled to capacity.

I look forward to us making lots of money together. If you are interested in joining me, go here to sign up today… www.investorcommunityofcentralvalley.com/treasurehunt

Once you sign up, we will get right back to you to set up all the details, assisting you with reservations for your Las Vegas foreclosure auction quick flip trip.

To Your Success!

Tamera Aragon
www.investorcommunityofcentralvalley.com/treasurehunt

Originally posted 2011-04-07 13:57:12. Republished by Blog Post Promoter

If you have incurred a short term financial hardship and your loan is two or more months past due, you might consider submitting a request for a repayment plan to your lender for approval. A repayment Plan is available if you can make your regular payment plus an additional amount per month until the loan is brought current. This option may follow a temporary forbearance. Only after reviewing your financial situation will this option be considered. All clients must be able to show that they can afford this plan in order to be eligible.

For more coaching on Avoiding Foreclosures

Originally posted 2008-06-20 13:04:48. Republished by Blog Post Promoter

Definition: Joint ownership of a property by one or more owner-investors and one or more owner-occupants. The owner-investors get the benefit of depreciation, and the owner-occupants can treat a part of their monthly mortgage payments as rent, and benefit from tax write-offs for interest and property taxes. When the property is sold, both types of owners share in the profit or loss realized from the sale or refinance.

This might be for you if there is some equity in the house and you would like to continue to hold it. It is vital you involve an attorney to put this together assuring all documents are formally filed correctly, protecting your asset. The benefit to you in utilizing this option is you are able to keep your house and lower your payments. Since the equity sharing partner would see the value of their investment at a later time, a plan for this would need to be in place in agreements filed with attorney, at time of sale.

Steps:

a. Partner(s) put up part of the required cash to cure foreclosure
b. Partner(s) pay part of monthly payment
c. Partner(s) get some percentage of ownership
d. Partner(s) get their money out at refinancing or sale down the road

Click Here for more coaching…

Originally posted 2008-01-11 08:51:08. Republished by Blog Post Promoter