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Casual Articles - Real Estate Investing Scare
Your business is only as good as the number of people who knows about it. For your venture to grow, you need to start spreading the word about your business. You may have the best products your field, but you cannot expect your business to breach the million-dollar mark in sales if only the people in your street know about it. Some entrepreneurs start doing promotions only when their businesses are up and r
Tales from the Corporate Frontlines: Career Opportunities for New GraduatesThis article relates to the Career Opportunities competency and explores issues such as internal growth opportunities, potential for advancement, career development importance, and the relationship between job performance and career advancement. Evaluating the Career Opportunities competency in your organization will de
Here's the typical deal this investor would purchase: The house would have an appraised value of $50,000 and he was able to purchase the property for $30,000.
The bank would then loan him 80% of appraisal regardless what he paid for the property allowing him to cash money out at closing when buying.
OK, follow me so far? So, in this example, he'd pocket $10,000 when he bought the property.
So, you're thinking - that's not scary.
Not yet anyway...
Back to the story, he calls to see if I can help by buying the properties from him. I told him I would gladly take a look to see if there was something I could do, but I assured him I couldn't make any promises.
After, I talk with him a little more, I discover he's 3 months behind on payments on ALL 28 properties. With all 28 properties, one would need to come up with close to $20K just to reinstate these loans.
But, that's not the scary part. We still have to see if there's any equity. And unfortunately, there's not, therefore I tell him I can't do anything for him. He's gonna see 28 houses go to the foreclosure block. Not only will the bank foreclose, they'll drag his name through the paper causing humiliation, disgrace with his family and his church. The bank doesn't just foreclose, then go away. They're gonna stay after him till they get paid. If the bank takes a loss on
So, Jane and Bob are once again leading a project. This time, they want to make sure they have a team that is more productive and has less challenges and conflicts. ========================================== There's the million-dollar question. ========================================== How do you build a "better" team? First, Jane and Bob need to understand that puttin
The bank would then loan him 80% of appraisal regardless what he paid for the property allowing him to cash money out at closing when buying.
OK, follow me so far? So, in this example, he'd pocket $10,000 when he bought the property.
So, you're thinking - that's not scary.
Not yet anyway...
Back to the story, he calls to see if I can help by buying the properties from him. I told him I would gladly take a look to see if there was something I could do, but I assured him I couldn't make any promises.
After, I talk with him a little more, I discover he's 3 months behind on payments on ALL 28 properties. With all 28 properties, one would need to come up with close to $20K just to reinstate these loans.
But, that's not the scary part. We still have to see if there's any equity. And unfortunately, there's not, therefore I tell him I can't do anything for him. He's gonna see 28 houses go to the foreclosure block. Not only will the bank foreclose, they'll drag his name through the paper causing humiliation, disgrace with his family and his church. The bank doesn't just foreclose, then go away. They're gonna stay after him till they get paid. If the bank takes a loss o
How good an insurance plan is depends on how well it suits the individual. But, if you're looking for a place to start, it might be good to have a look at these three top health insurance providers first. A lot can be said about an insurance provider that has a large number of happy customers. Here is a listing of the top health insurance providers, and a little information about each.Aetna - w
So, you're thinking - that's not scary.
Not yet anyway...
Back to the story, he calls to see if I can help by buying the properties from him. I told him I would gladly take a look to see if there was something I could do, but I assured him I couldn't make any promises.
After, I talk with him a little more, I discover he's 3 months behind on payments on ALL 28 properties. With all 28 properties, one would need to come up with close to $20K just to reinstate these loans.
But, that's not the scary part. We still have to see if there's any equity. And unfortunately, there's not, therefore I tell him I can't do anything for him. He's gonna see 28 houses go to the foreclosure block. Not only will the bank foreclose, they'll drag his name through the paper causing humiliation, disgrace with his family and his church. The bank doesn't just foreclose, then go away. They're gonna stay after him till they get paid. If the bank takes a loss o
The Internal Revenue Service has released the new inflation and cost-of-living adjustments for tax year 2006. Here are some of what is new for 2006:* The personal exemption amount is $3,300.00.* The deduction for personal exemptions is phased-out as your Adjusted Gross Income (AGI) goes from-+ $150,500 to $273,100 if Single+ $188,150 to $310,650 if Head of Household+ $225
But, that's not the scary part. We still have to see if there's any equity. And unfortunately, there's not, therefore I tell him I can't do anything for him. He's gonna see 28 houses go to the foreclosure block. Not only will the bank foreclose, they'll drag his name through the paper causing humiliation, disgrace with his family and his church. The bank doesn't just foreclose, then go away. They're gonna stay after him till they get paid. If the bank takes a loss o
The importance of link popularity is widely known and many articles, theories and applications have been written on the topic. We all know by now that having many web sites pointing to your web site increases your Google link popularity and can score your web site higher page ranking and consequently the site will be higher in the search engine 'natural results'.What we don't know however, is that ru
1. Deficiency Judgment:
This will attach to anything this homeowner owns (real estate, cars, boats, motorcycles, etc.) till the debt is paid. Judgments are usually good for a set amount of time. In Alabama, the company has 10 years they can pursue the homeowner to get paid on the judgment. Plus, you should be aware that these judgments then can be renewed after they've lapsed.
It's pretty terrifying to say the least to have some attorney harassing you to collect on a debt.
2. Garnish Wages
After a judgment has been attained, the creditor can and will garnish any wages from the borrower's pay.
3. Forgive The Debt
Maybe, you think the borrower would love for the bank to just forgive the debt. Even though they forgive the debt, they don't forget. Because at the end of year they'll send the borrower a 1099 for unearned income from the loss of the sale of the property they'd loan money on.
Finally, the obvious factor of having a foreclosure is the fact it shows on your credit rating, thus ruining your credit.
Why did I just tell you this information about this particular owner?
I want you to be able to make sellers aware that are in similar situa
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