http://realestatemarketingthisweek.com/real-estate/beware-of-phishing-schemes-and-bank-scams-gmacs-clients-hit-hard/ – Beware of phishing schemes and bank scams GMACs clients hit hard –
Part 3 – As promised just before the break, I told you to, listen in if you know anyone who has a GMAC Mortgage, this is one of those too good to be true things. Heres the thing, I have no issues what-so-ever with GMAC, thats not what Im saying, what Im saying is there is a scam of sorts that is going around. A client of ours received a letter, we did a second mortgage for this person a few years ago, they received a letter from GMAC, it looked like GMAC, it sounded like GMAC, and it said that we are willing to forgive your second mortgage of 200 and some thousand dollars in lieu of a one time payment, payable within the next 30 days, of say 20 thousand dollars.
I dont recall the exact amount or what it was. There is a phone number on there, it says loss mitigation department on it, a person assigned to this case. They called the phone number, they answered the phone as if you were calling into the loss mitigation department, and verified if you just send us this amount they will release the lien. Well it is completely false. It is absolutely not true.
These people are not going to seek you out on their own, now whether it be GMAC, today we have actually seen that one, there may be other ones out there. Folks, if you are getting stuff like this you need to verify it and you need to verify it by sources other than the information on the letter that you have received. If you get an email that says your bank account has been tapped into you need to check, chances are it is some kind of a phishing scam and this is no different.
We have gone back to identity theft through the mail and if you have been a party to this you need to verify and check into it, and you need to contact the authorities immediately for more information, if you need help with this sort of situation you are welcome to give us a call at 480 Velocity.
It is pretty amazing that that kind of thing still exists, and with the announcement by Paulson today that the fact is they are no longer willing to buy bad mortgages off the books of the banks. When you come across a phishing scam such as this one there is not a bank out there, I dont care what kind of trouble they are in, that is going to take $0.10 on the dollar to forgive a loan.
In a situation where things are going well, you are right in a situation where things are going well, and the status quo, they are going to be pursued by an attorney, that is entirely different, they are not just going to volunteer up and give you the money, its not going to happen.
Absolutely not and thats where we get back into what a loan modification is, who it benefits, and how it works and so forth, you are starting to see these wheels in motion amongst all of these banks. One of those wheels is certainly not well forgive $200,000 in debt if you write us a check for $20, 000.
And when we have talked about this Brett you and I have had many conversations in regard to what does it take? Can a person do this on their own, we will get to that a little later, but the answer is Yes. A consumer can actually do it on their own, up until very recently with the new announcements made from some of these major servicers and investors, up until then, a person trying to do it on their own would take days upon days and hours and hours on the phone not getting calls back trying to find time during the day while working to get this done and in many cases they are going to get a temporary fix.
The loss mitigation department for the bank that you have your mortgage with, their job is not to mitigate your loss its to mitigate their loss. They are out to protect the bank, thats why we use the national network of attorneys that we do, that are specialists, that have done thousands of these loan modifications, that go to bat for you. By the way folks, they are not going through the loss mitigation door that you would have to go through they are going right to the legal department, they are going to threaten suit if necessary, they are going to do discovery work, they are going to find out if there was anything that was misrepresented either by the bank or the broker and take that angle… http://realestatemarketingthisweek.com
Duration : 0:5:36
Read the rest of this entry »
Technorati Tags: attorney, Avoid, bailout, bank, bankruptcy, estate, Expert, federal, financing, foreclosure, fraud, hardship, home, home mortgage modification, Home-Loan-Modification, Insolvency, law, laws, lender, letter, loan, loan modification, Loss, Mitigation, modification, mortgage, Mortgage-Loan-Modification, Mortgage-Modification, Negotiate, negotiation, package, prevention, Process, Program, real, requirements, Sale, Scam, Servicing, Short, tax
http://lcm.favoriteagent.com/?Market=0&Agent=95080
Joe Ignat 813-943-8983
People’s Choice Realty
(Land O’ Lakes) (Real Estate) – (Wesley Chapel Real Estate) – (Lutz) Real … (Realtor)s. You can find (Land O’ Lakes real estate) and (Wesley Chapel real estate). Also information on (Lutz Real Estate), Zephyrhills, …
(Land O’ Lakes) (Florida Real Estate) – (Land O’ Lakes Florida Homes) …(Land O’ Lakes) (Florida Homes) and (Land O’ Lakes) New Homes with ► PHOTOS in the Real Estate market of (Tampa Bay Florida).
(Land O Lakes Real Estate) & (Land O Lakes Homes For Sale) Homes For Sale in (Land O Lakes). Search (Land O Lakes), (Florida real estate), recently sold properties, foreclosures, (new homes), school information and …
(Land O Lakes, FL Real Estate) on Yahoo! Real Estate – Homes, MLS …Yahoo! Real Estate – (Search Land O Lakes), (FL real estate listings) (including MLS homes for sale), home values, housing market information, (Florida mortgage) …
(Land O’ Lakes FL Real Estate) | (Land O’ Lakes Homes) & MLS SearchFor (Land O Lakes real estate) advice, consult with a professional (Tampa Realtor). (Tampa area real estate).
(Land O’ Lakes Real Estate Agents), (Land O’ Lakes) (Homes For Sale) …(Land O’ Lakes Real Estate) – Find (Land O’ Lakes Homes For Sale), (REALTORS), home values and see real estate information for (Land O’ Lakes), (Florida home buyers) …
(Land O’ Lakes) Wisconsin Chamber of Commerce(Land O’ Lakes) Chamber of Commerce website with complete area information and pictures. … Professional Services, Radio Stations, (Real Estate), Recreation …
(Land O Lakes Real Estate), (Land O Lakes) (Tampa Homes for sale) – Land …View listings of availabe homes with ► PHOTOS in (Land O Lakes), (Florida), (FL).
(Land O’ Lakes) (real estate agents), property search, and listings …(Land O’ Lakes real estate agents), property search sites, and local listings.
Real Estate – (Land O Lakes) – (Florida)11.38 acres (Land O Lakes)
Duration : 0:4:19
Read the rest of this entry »
Technorati Tags: Agent, Agents, buyer, buyers, estate, for, homes, Lakes, land, real, Realtor, realtors, Sale, Seller, sellers, Tampa
Today, NAMB is issuing a call to action for all mortgage professionals to unite and join our force. We cant fight without you. So if you plan on staying in the industry and succeeding; we need your support through membership
Duration : 0:1:58
Read the rest of this entry »
Technorati Tags: Association, brokers, estate, loans, members, mortgage, NAMB, national, of, real, The
Mortgage Rates drop to an average of 4.49%
http://finance.yahoo.com/news/Mortgage-rates-hit-low-of-449-apf-739903100.html?x=0&sec=topStories&pos=main&asset=&ccode=
Definitions used from
http://www.dictionary.com
Duration : 0:5:24
Read the rest of this entry »
Technorati Tags: as, collapse, communication, Debt, definitions, dollar collapse, Economic, Economics, economy, estate, four, investing, low, Money, mortgage, on, percent, play, rates, reading, real, words, wordw, zeitgeist - federal reserve
A second wave of mortgage defaults is about to come (2 of 2)
Duration : 0:5:58
Read the rest of this entry »
Technorati Tags: 60, America, bailout, crash, defaults, estate, Minutes, mortgage, of, real, Second, Wave
Subprime Mortgage Lenders are in financial trouble because too many customers are defaulting on their loans. KRON4’s Maureen Kelly finds that one former customer of one subprime lender was talked into a loan she couldn’t afford.
Duration : 0:1:55
Read the rest of this entry »
Technorati Tags: estate, foreclosure, Kelly, loans, Maureen, mortgage, real, subprime
FREE RECORDED INFO – 24 HRS 1-800-615-1840 ext 1023
This attractive home in Brentwood TN (greater Nashville area) features 3,475 sqft on an oversize 1.2 acre, level, corner lot – deck and hot tub, 3 or 4 bedrooms, 3.5 baths, 2 car garage — all within the highest per capita income area in the state and zoned within the highly rated Williamson County school district. FREE RECORDED INFO – 24 HRS 1-800-615-1840 ext 1023
or contact me directly at 615-400-4912.
Duration : 0:2:49
Read the rest of this entry »
Technorati Tags: 37027, acres, Agent, brentwood, estate, franklin, homes, houses, land, mortgage, Nashville, property, real, Realtor, Sale, tennessee, TN
http://realestatemarketingthisweek.com/short-sales/avoid-a-foreclosure-on-your-credit-report-short-sale-your-home-and-save-your-credit/ – Avoid a foreclosure on your credit report, short sale your home and save your credit
Part 8 – Ok, so that is good to know, I know there are people who want to try and do that and I really dont know. I am really a full time mortgage professional, I didnt get into the loan modification business on purpose, we write mortgage loans, real estate loans for residential and commercial, so therefore I dont know your laws on the same token you dont do loan modifications and you dont write loans, youre professional realtor.
Exactly, and one more thing, bottom line is you cant be defrauding the bank. Because then youre stepping into mortgage fraud, as you know. You do have to have a hardship, you honestly do have to show, if youre going to be benefiting from staying in the home, you have to show a hardship that you cant afford the current payment. If youre making a couple hundred thousand a year and have a ½ million in the bank and owe $200,000 the bank isnt on your side in that case.
There are a lot of situations though when a homeowner wants to stay in their home, if that is the case, then we market it to investors, because there is a lot of the people who are buying these homes so we work with the investor and we work out the lease amount and the homeowners can stay in their homes in those situations. Whatever it looks like at the end of the day, the homeowner needs to picture where they are going to be in the short term midterm and long term and where this house fits into those plans, if a loan mod isnt right a short sale is a significantly better option than a foreclosure.
They need to call now, they need to take action because you do need to find a place to live and were here to help you, you dont want to get two weeks to the point of foreclosure and have no where to move your family. And the Dreamvestors Team that is your main focus right now, but people still call you for first time home buyers.
We work with buyers as well as people who are short selling. We have been in real estate several years and we didnt want just short sales, were fortunate to have a very strong clientele base and were always taking new clients. We have just adjusted our focus as the market called for it and as our clients called for it.
The other thing too when we talk about these short sales, getting out of that home before it goes to foreclosure is always the best case scenario, the bank is happier with it, the house is more saleable in most cases, people are still living there, its still there home, they still feel like the pride of ownership.
Yes, and in addition, pride of neighborhood is another point. Your neighbors are going to like you better because there is not a foreclosure in their neighborhood, it helps keep the prices up when the bank takes them back the banks price them even lower typically, well sure and then its vacant and we have the potential problem of neighborhood kids turning the house into a paintball arena.
I saw that in a fantastic two story home with an amazing backyard, this house was to die for, a million dollar home and the neighborhood kids turned this house into a paintball arena. Now I am not going to lie, that might have been fun when I was a kid, but this house was trashed, wires hanging out, I mean it was just an absolute mess. The lenders dont want that, you dont want that. They need to take action they need to call you.
Yes educate yourself and call someone today. Folks its important to point out today that I would like to see you call Kalyn and Jeri for this because I know, I have seen their track record. I know their close ratio and I know that they generally care about you and your needs first, but if you have someone who does this and youre contemplating it, if you have a sale date coming up, you need to take action. Move on with your life, put this part of your life behind you.
One of the things to and we dont want to get to deep into this, Jeri or Kalyn, but after the short sale is done its all said and done, you have an affiliation with people who can help them out in getting their credit repaired and ready to go. We do, we really pride ourselves on being a one stop shop, so we help educate them, if its going to be a loan modification or a short sale once they get through the process then we begin working with them on credit repair. We have a program that we work ourselves, and if its a really sticky issue with your credit we have people that we work very closely with that we will refer you to, we also have a team that includes a bankruptcy attorney, a real estate attorney and a real estate CPA… http://realestatemarketingthisweek.com
Duration : 0:7:2
Read the rest of this entry »
Technorati Tags: bank, bank short sale, Banking, banks, card, credit, estate, finance, financial, foreclosed, foreclosure, foreclosure short sale, foreclosures, home, interest, lender, lender short sale, lending, loan, loans, mortgage, mortgage short sale, mortgages, quick, real, real estate short sale, refinance, Sale, Savings, Short, Short-Sale
What is an Adjustable Rate Mortgage or ARM? What is the difference between a fully amortized loan and an interest only ARM? Watch this Expert Real Estate Tips video about adjustable rate mortgage loans (ARMs) and how they adjust after a fixed period of time.
Duration : 0:1:48
Read the rest of this entry »
Technorati Tags: Adjustable, amortized, ARM, Benoun, estate, Expert, fixed, interest, loan, mortgage, only, rate, real, tips, Victor
free to the public. september 6th and 8th, thursday and saturday, at 6pm and 10am, respectively. seminar will be held at the Hilton Garden Inn next to Tinseltown Theatres in Jacksonville, FL. will be hosted by david elian and john elian of keller williams realty and allied home mortage capital corporation, respectively. seating is limited, so RSVP is requested @ 904-722-9770 or reply to this posting. If you have been effected by the recent mortgage meltdown, such as a realtor, mortgage anything, title company, real estate appraiser, home inspector, real estate investor, fsbo seller, short seller, going into foreclosure, you are also welcome. please prepare us by telling us a little about yourself when you rsvp.
Duration : 0:4:11
Read the rest of this entry »
Technorati Tags: buy, estate, faq, Florida, jacksonville, mortgage, real, Realtor, sell