Real estate investing is a profitable market, where you can make money easily with very minimum losses. As a real estate investor you need to use your skills and knowledge to buy and sell properties. But many real estate investors don’t know where to start and where to look for guidance and help. To thrive in this industry, a real estate investor needs to be working hard and be smart! So start planning for your investment wisely even when you are looking for happy retirement life. Jeff Adams brings you very useful real estate investors’ website and programs that will help you to realize the success in real estate investing.
Archive for November, 2007
If you are an aspiring investor in real estate, you need to know certain important tips which will help you to succeed. First of all, you need to compare the property values and rents. Next, try working with a retailer who has enough knowledge about real estate investing who can help you. Learn to specialize in things that you know. You also need to know where the tenants are actually coming from. Taxation is an important part in real estate investing, hence try finding a good accountant to assist you. Try investigating about the insurance coverage and the utility costs. Have maintenance team who can help in repairing the houses. Never buy a home or any property without inspecting it. If you need to know more on how to become a better real estate investor; Jeff Adams and his experts will direct you with their incredible programs.
Jeff Adams is a top professional and an expert at investing real estate properties who is based in California, we can provide you with extraordinary services including articles and tip for you to know more about today’s real estate investing. Jeff Adams has many years of experience and our services will help you to attain your target just as you wanted. Now real estate investing has be become an excellent business, and engaging yourself in real estate is the smartest choice that you make! With Jeff Adams you can unlock the millionaire within you!
Abstract: It is becoming rapidly apparent that lenders have had a hand in the problems that bedevil them with defaulting home owners.
As foreclosures begin to get a lot of press coverage, inevitably, what comes under scrutiny is the lending practise, criteria and even advertising methods of some of the lenders in the real estate market.
A recent news item on CNN, for example, highlighted the fact that many borrowers in trouble were pulled in by deceptive ads such as LowerMyBills.com. The ads featured dancing figures, apparently happy about low-loan rates. One ad claimed a “$145,000 mortgage for under $499 a month!” Few, if any, borrowers actually scrolled to the bottom to see payments actually double over time.
It is exactly this kind of advertising practice and the fact that very recently a top level mortgage broker publicly admitted that they were under pressure to meet tough monthly targets by practically helping self-certified borrowers fill-in mortgage application forms in a way that would make it possible for the borrower to apply for a much higher loan than would otherwise have been possible.
With practices like this it is no wonder that borrowers caught in the hard world of the sub-prime mortgage market are in trouble, nor is it any wonder that lenders are over-exposed. Lawmakers and cynics are already talking about greed being the undoing of the lenders but that, right now, is beside the point.
What is required here are two distinctly different forms of action, none of which has anything to do with the knee-jerk reaction of banning sub-prime mortgages, as some have been calling for in the news.
The first, is already been taken, President Bush and members of Congress as well as 37 State Prosecutors have began to pressure lenders to be a little less eager to foreclose on properties and actually work with struggling home owners to resolve the issue where possible.
The second, and probably the hardest to implement, is the enactment of regulation which will safeguard, in future, borrowers from exactly the kind of sharp practice they have been exposed to this time round. Whether this is a self-regulatory or a legislatively-driven kind of regulation is, at this stage, immaterial. We clearly need something in place if we are to preserve the healthy growth in home ownership figures and the fact that the existence of sub-prime mortgages gives the opportunity to borrowers who would not otherwise be able to buy a house, to benefit from the great American Dream.
The state of our economy is only bolstered from home ownership and to contemplate anything that negatively affects that is clearly a short-sighted, knee-jerk reaction which will do more harm than the foreclosure and mortgage debt problems it tries to avoid.
Abstract: Foreclosures are on the rise but lenders are under government and State Officials pressure to be less quick to foreclose.
The moment the US government under President Bush, members of Congress and no fewer than 37 top State Prosecutors pile pressure on lenders to communicate with struggling home owners rather than simply pull the plug and automatically foreclose on a property the owner of which has missed a number of payments you know that just because a home owner’s finances have taken a bad turn it does not mean that nothing can be salvaged.
Let’s look at the facts that usually govern a situation about to go to foreclosure: 1. The homeowner has missed a number of payments and is facing some financial difficulty. But he was able, prior to that to actually make payments and keep things together so there is a good chance that given some leeway he can do it again.
2. The lender is following an in-house process which flags up a property for foreclosure. There is a built-in safety margin in this process which varies from lender to lender but times are tough and lenders these days are afraid that if they wait any longer and house prices dip they will lose even more money as the homes they have foreclosed on fetch a lot less than they might fetch now.
3. For a lender to foreclose on a property and decide to take possession and sell it on marks a certain desperation. Lenders are not really geared up to sell houses. Foreclosed properties are always less than perfect and even a prime example in a really good location usually fetches up to 40% below its market value, many times far less.
You will ask, quite naturally, why are there foreclosures then? Well, because it is the only tool left to lenders after borrowers fail to make a number of payments that ensure that they get some of their money back and send a strong message to other home owners regarding making their payments on time.
The point here is that with lenders under pressure from official channels to be a little less quick to foreclose on properties, struggling homeowners now have the opportunity to fight to keep their property by talking to the lender and seeing if they can come to some arrangement.
The rules here are: be honest, be creative and be prompt. Do not wait until the eviction agents are at the door to ring your lender. Call or write. Explain the problem in detail and, above all, offer a solution. In the foreclosure stakes Officialdom, for once, is very much on your side so make sure you capitalise on it and keep the communication channels open. After all it is your home that is at stake.