the problem with the economy is NOBODY seems to know what the problem is.
EVERYBODY has a solution. But nobody really seems to know what the problem is.
And that’s a PROBLEM!!!
Duration : 0:3:4
Find the Problem First. THEN the Solution…
Franklin Raines (Former Head) Calls for Fannie Mae and Freddie Mac Reform.flv
Former Head of Fannie Mae, Financial reform “focused primarily on consumers”. Why didnt Dodd/Frank not address this?. http://en.wikipedia.org/wiki/Franklin_Raines
Duration : 0:0:47
FHA Bailout: The Real Story from AmeriFirst Home Mortgage and Mark Jones
http://blog.amerifirst.com/subscribe/
http://www.amerifirst.com/
AmeriFirst Home Mortgage president and co-founder Mark Jones talks about the possibility of an FHA bailout, and the truth behind what you’re seeing on the news and other “news” shows. Find out where the housing market is today, and what’s next.
Music: Dan-O songs http://www.danosongs.com/
Duration : 0:6:16
Watch Loan Modification – Home Mortgage Bailout – Real Estate Foreclosure Prevention Process
http://bit.ly/ulBaLB – Modification. Compare mortgage, refinance, insurance and CD rates. Expert analysis of home loan finance topics and trends. Foreclosure. Find breaking news, multimedia, reviews & opinion on Washington, business, sports, movies, travel, books, jobs, education, real estate, cars & more. Real. Search for a new home or find mortgage rates, real estate agents, and relocation services throughout the US, Canada, and Puerto Rico. Home * WELCOME TO PETS IN SPAIN * The Pets In Spain team are here to help abandoned animals in Spain and others in need of re-homing. home mortgage modification. Need mortgage loan modification help? Get a free, no obligation consulation today. home loan modification. real estate marketing. mortgage modification. Why Choose US REO Properties? US REO Properties (Real Estate Owned Properties) is an industry leader in real estate foreclosure listings. The Web’s #1 Source for HUD homes, government foreclosures and houses for sale. forbearance agreement. foreclosure.
Duration : 0:2:1
More Homeowners Missing Mortgage Payments [FOX 11-08-2011]
The U. S. subprime mortgage crisis was one of the first indicators of the late-2000s financial crisis, characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backed by said mortgages. The ratio of lower-quality subprime mortgages originated rose from the historical 8% or lower range to approximately 20% from 2004-2006, with much higher ratios in some parts of the U. S. A high percentage of these subprime mortgages, over 90% in 2006 for example, were adjustable-rate mortgages. These two changes were part of a broader trend of lowered lending standards and higher-risk mortgage products. Further, U. S. households had become increasingly indebted, with the ratio of debt to disposable personal income rising from 77% in 1990 to 127% at the end of 2007, much of this increase mortgage-related.
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Duration : 0:2:11
Real Estate Marketing – What is a Short Sale and How to Negotiate to Stop Foreclosure? – Part 7
http://realestatemarketingthisweek.com – Real Estate Marketing – Prices are back to 2003 levels: A Short Sale is significantly cheaper for a bank than a foreclosure –
Produced by Dan Havey of Real Estate Marketing This Week
Part 7 – Were in the studio today with Kalyn Roberts and Jeri League of the Dreamvesting Group, these two young ladies are experts in the short sale area, they are NOT going to tell you what you want to hear, they are going to tell you what you need to hear. There is a big difference between what you want and what you need in the case of getting out of a situation. We talked during the break about the different types of people; who qualifies, who doesn’t qualify, who this is good for, and who its not good for. I want you to talk about people who are upside down and how you’re here to help.
What we want to get across today if you just need to call someone if you’re upside down in your mortgage, if you have a listing next door and its a bank owned or short sale, there is a good chance you’re probably upside down in you mortgage if you bought anytime in the last, in the last 5 years were almost back to 2003 pricing now.
Just to jump in real quick, Jeri and Kalyn its not just the people who purchased, its the people who used their homes as ATMs which is a crude way for me to say it but lets be honest. You watch the television, and I am not going to name any names, but a company that rhymes with lie-tech though, they have a commercial where they are showing pictures of using your home to buy a big boat and everybody got sucked into that and now here were.
Yes, if you used your second mortgage to build that big beautiful pool in your backyard, maybe you need to call us. Yes, its unfortunate, we always tell everyone like you just said, everybody got sucked into it, it doesn’t mean you’re stupid, it doesn’t mean you necessarily made a really bad decision. Most people got caught up in the real estate market and good marketing ploys like that, and the bottom line is as we said earlier you dont have to be late on your mortgage payment, you don’t have to be facing a foreclosure, if you’re simply upside down because you refinanced your home or purchased too recently and the house next door is selling for $100,000 less than yours and you just need to get out of a bad financial situation, you’re a candidate for a short sale or even a loan modification.
One of the things about loan modifications that I hear all the time is, and I research other loan modification companies, and what I hear is they are telling people things that just aren’t real. For instance if your owe $400,000 and your house is worth $300,000 and you want your lender to forgive $100,000 on a loan modification, chances are that isnt going to happen, whereas with a short sale, when youre exiting the property because it just isnt going to work, they would in most cases consider doing that.
Absolutely if that is the market value of your home they are going to consider the bottom line, the banks dont want these properties back, it costs them so much money to go through a foreclosure process and as our prices are falling, monthly, weekly, daily, the likelihood of the value of the property being extremely lower by the time they get the property back is 100%.
In addition to the $60,000 in foreclosure cost, paying real estate commissions and a few other fees is significantly better, because the loss is going to be significantly less with a short sale. Heres a question and I hope that I am not putting either of you on the spot, but suppose the guy owes $400,000 on his house, lets just say its worth $300,000 and you get the listing and this guy is out at a cocktail party and his cousin shows up and says, Ill buy the house from you. Ill buy the house from you, we will make the bank pay the difference and Ill just let you stay in the house. Is that a realistic situation, is someone going to find out about it? Is it good to do that or not?
In real estate, real estate purchases and transactions have to be non-arms length. Now arms length is described as your parents and your children, other than that we pretty much stay out of it because theoretically, yes that could happen, however the banks want to see that the homeowner is not benefiting, so the homeowner would have to become a tenant and be paying rent to new owner at that point. So there are many legitimate situations where you could meet someone who would buy the home and allow you to stay in the home… http://realestatemarketingthisweek.com/a-short-sale-is-significantly-cheaper-than-a-foreclosure/
Duration : 0:5:53
Greed Is Good – [LEEMAN BROTHAZ] Wall Street rap music video
“Greed is Good” Leeman Brothaz | [OFFICIAL VIDEO]
Wall Street bankers respond with rap music video blaming consumer behavior for the housing crash.
Topics:
Bank Bailout
Quantitative Easing
Socialism
Michael Moore
Capitalism
Fed
Ben Bernanke
Greenspan
Osama
Financial Meltdown
Subprime Mortgage
Gordon Gekko
Monetary Policy
Foreclosure
Modification
Regulation
Real Estate Boom
Hedge Funds
Mortgage Crisis
Market Failure
Inflation
Corruption
Bailout
Bankrupt America
Bankers
Loans
Housing Meltdown
Fannie Mae
Freddie Mac
Obama Got Osama
White Collar
Hip Hop
Tea Party
American Greed
Obama
Money Never Sleeps
Obama Osama Rap
Government
Usama
Gordon Gecko
Rap Music
HUD
FHA
Securities
Credit Default Swaps
Derivatives
Government Bail
Recession
Depression
Unemployment
Moral Hazard
Money
Target
Market
Viral
Wall Street Greed
Tarp
Written & Produced by Ted J. Papadopoulos
Directed by Adam Donald
Edited by Adam Donald & Victor Barczyk
http://www.facebook.com/leemanbrothaz
Twitter – @LeemanBrothaz
☯LeemanBrothaz@gmail.com☯
Duration : 0:3:30
Real Estate Marketing – Mortgage Meltdown, Fraud and Scams – Part 7
http://realestatemarketingthisweek.com – Real Estate Marketing – Foreclosure Rescue Scams and How to Protect Yourself – With Michael J Barnes, Brett Fallon and Dan Havey of Real Estate Marketing This Week
Part 7 – The Foreclosure Sharks, you have written this book or I think it’s called a white paper. Free report whatever you want to call it its packed full of really good and interesting information. It’s called The Foreclosure Sharks – A look at the rampant theft of Americans homes through foreclosure rescue scams.
And folks I have to tell you I think we’re going to spend the next week, the majority of the show talking about what the heck is going on out there. And what you need to do to protect yourself in case you should happen to be against this problem. You really need to know what your options are. This free report is available online at http://mortgageanswerman.com. You have got to get this. The information is really good, and one of the taglines that you have here Dan is, Theres blood in the water and the sharks can smell it.
Right. What made me actually write this was a number of years ago I had been working with people in foreclosure for years, and it was just a way to let them know what was going to be going on once the foreclosure was filed against them. Now in many cases, these people were already experiencing what was going on.
And again I’ve recently had a friend or two go through foreclosure and I had them collect all of the paperwork that they got from all of the foreclosure guys out there trying to help them sell their house or do whatever it was, and I was surprised at how thin the stack was. This one gal in particular, lives in Scottsdale in a very nice house and she didnt have more than maybe 6 letters. In the past, a couple of years ago, especially at the peak of the market, when somebody was in a foreclosure situation they would have seriously a stack 6 inches thick.
People would be knocking on their door 24 hours a day, calling them, dropping off stuff. There were cars driving by all the time and it really got to be a nuisance. And frankly I think it hurt the home owner and their standing in a neighborhood, with all of that traffic and of course everybody knew that they were having problems. So that is why the report was originally written and why I wanted to talk about it today because of all the foreclosures going on in the market right now.
Now let me ask you a question, you are saying that two years ago if I were in a foreclosure my mail box would be chock-full of marketing products. Youre telling me now that there is virtually none?
Well I think that part of it is that back then there was financing available to be able to come in and refinance the people. I certainly myself did dozens of loans, at least, to bail people out of bankruptcies and foreclosures, and also people had equity back then. Property values were continuing to go up. I forget how many scams I pointed out here in the book, I think there are 18 or something in here, and most of them are essentially people attempting to get your house away from you, either refinance it, sell it for you, take a lease option, there are all kinds of different scams involved, but I think the reason we see so much less of it today is because there is so much less equity. So if you are upside down by $300,000 in your house, i dont care how good of a scammer you are, you are not going to make a lot of money off that.
But there are a couple of scams going on right now that I want to talk about because there are a couple of things that happened just recently that harkened me back to when I first got started in real estate here in Arizona in the late 1980s. I was selling repos for Fannie Mae, Countrywide, and the Resolution Trust Corporation, which was in charge of selling off all of the real estate owned for the 1,800 or so Savings and Loans that failed in the late 1980s early 1990s. There were so many scams going on then, I mean we had just tons of vacant houses we were selling, and one of the big scams that I thought was actually being perpetrated on a friend of mine the other day is a little something known as rent skimming… http://realestatemarketingthisweek.com/foreclosure-rescue-scams-and-how-to-protect-yourself/
Duration : 0:6:36
Geithner the economy is still strengthening [NBC 7-10-2011]
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Wednesday July 13 2011 6:15 am
http://www.msnbc.msn.com/?id=11881780&q=Geithner+the+economy+is+still+strengthening+&search=&p=1&st=1&sm=user
The US subprime mortgage crisis was one of the first indicators of the late-2000s financial crisis, characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backing said mortgages. Approximately 80% of U. S. mortgages issued to subprime borrowers were adjustable-rate mortgages. After U. S. house sales prices peaked in mid-2006 and began their steep decline forthwith, refinancing became more difficult. As adjustable-rate mortgages began to reset at higher interest rates, mortgage delinquencies soared. Securities backed with mortgages, including subprime mortgages, widely held by financial firms, lost most of their value. Global investors also drastically reduced purchases of mortgage-backed debt and other securities as part of a decline in the capacity and willingness of the private financial system to support lending. Concerns about the soundness of U. S. credit and financial markets led to tightening credit around the world and slowing economic growth in the U. S. and Europe.
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Duration : 0:6:15
Mortgage Modification – Fannie Mae Streamline Loan Modification – RealEstateMarketingThisWeek.com
http://realestatemarketingthisweek.com – New Fannie Mae Streamline Loan Modifications may do more harm than good
Part 5 –
We do realize that there are situations that people are in that they want to be out of and we want to move past. We have back in the studio, the author of Real Estates Future also the author of The Foreclosure Sharks white paper, a fantastic manual that he has put together that you can get for free. Dan Havey thank you very much for coming back. You can get a copy of the white paper The Foreclosure Sharks at http://mortgageanswerman.com.
So Dan I know that you have brought the just recently released new Fannie Mae, Freddie Mac guidelines, with their streamlined modification process. This is the kind of thing where the consumer can go and do-it themselves, right?
Yes, except that we would certainly advise against that. These are the guidelines that Fannie Mae came out with; they are effective as of a couple weeks ago now. But with Christmas and the holidays I dont think a whole lot of people have figured out what this is all about yet. So as we said in the last segment the guidelines that they have come out with here, and what I have is a print out but I dont know that this is the whole thing because I have heard some commentary on this that actually says that it is much worse then I am about to relay to everyone on the air.
I am just going to pick out a couple points about this and then I will let Michael laugh about them because some of these things are just crazy in the fact that it doesnt really help the home owner and I also dont think it is going to move us past the conditions we have to get people some really good loan modifications, the kind of loan modifications that we are talking about where you actually employ an attorney to help you with your loan modification.
The reality of it is we need to get through this mess we dont need to stave it off, push it out further and in my opinion that is what this does. That is exactly what is going on here, there was an article I was reading by Fitch, which is one of the major bond rating firms and that is exactly what they said. They said that the alt-A arms are all coming back to roost now, I think the default rate was over 14% on all alt-A arms, being at least 90 days past due. And the comment in the article was something like, well we havent really seen a lot of losses from it yet and then it said in a caveat at the end, and we think its because they are not really foreclosing on any of these guys yet, so that is why they havent seen any losses. Well if you keep pushing it off into the future eventually you are going to have to see some of these losses.
We have the same thing here with Fannie Mae, which I think it is just another band-aid; it is not going to really solve the problem. First what they have here, and this one is pretty benign, that once they give you the new mortgage payment you have a three month trial period. If you make the payments during that trial period they let you keep the modification. So that one is not so bad.
The next one says that the qualified borrower cant be in litigation, bankruptcy, or have an existing work out plan, and you have to be at least 3 months behind or in foreclosure in order to be eligible for this streamline.
Ok I get to comment right? SO basically what Fannie Mae and Freddie Mac just told everyone, according to this that I am reading right here, Fannie Mae and Freddie Mac just told you to be 90 days late on your mortgage. That is exactly right, they said that the only way they were going to be able to help you was to be 90 days late on your mortgage.
So I have been, over the past several months, heck Dan you helped us put together the package, you are the cofounder of the modification hotline and I am on the radio every week when we do a little blip about load mods from time to time, saying dont trust anybody who tells you to be late on your mortgage. First of all no loan professional, no mortgage professional, no loan modification specialist will tell you to be late on your mortgage, however, Fannie Mae and Freddie Mac just said you need to be at least 90 days late on your mortgage if you want them to help you.
Duration : 0:6:53