Negativity Equity not Subprime loans has caused the Foreclosure Crisis! Don't be deceived
If you have not downloaded my latest report on the 7 Deadly Sins of Short Sales, stop right now and make sure you download immediately and READ it in its entirety! I will save your short sale life.
You know that I will always give you the straight up truth right? Well here is the latest revelation of the foreclosure crisis. We have been told by the main stream media for months going on years that the cause of the mortgage meltdown and real estate market collapse was sub-prime loans. Well some new studies by the good folks at the Wall Street Journal have proven this notion false. Data from the Mortgage Bankers Association (MBA) reveals that foreclosures resulting from PRIME loans grew 488% as compared to a growth rate of 200% from SUBPRIME loans. Did you understand what you just read? That means all of the commentary from the main stream media has been wrong.
The report further reveals that 51% of all foreclosed homes had PRIME not SUBPRIME loans, but wait it gets worst!
The BPO is the Gate to a Successful Closing or the Homeowner Getting Foreclosed On.
If you have not downloaded my latest report on the 7 Deadly Sins of Short Sales, stop right now and make sure you download immediately and READ it in its entirety! I will save your short sale life.
This post is an excerpt from my report and identifies the sin that is the no.1 killer of short sales in the nation: Not managing the BPO/Appraisal appointment. This is a huge and grossly neglected area in the vast majority of short sales, and I can’t begin to stress how critically important it is that you DO NOT COMMIT THIS SIN. If you commit all of the other sins you may get by for a while. But this one will take your deals out in a hurry. This short sale SIN is the leading cause of death for 77% of the nation’s short sales, (according to the Huffington Post 77% of the nations short sales are failing), so listen up good.
This is a fantastic piece from the attorneys over at the Consumer Warning Network. It chronicles how you can delay the pending foreclosure on your client’s home with 2 simple steps. Enjoy.
Original Article
Using the “produce the note” strategy is something all homeowners facing foreclosure can do. If you believe you’ve been treated unfairly, fight back. We have created templates for a legal request, a letter to your lender and a motion to compel to help you through the process.
Special note: In some states, a lender can foreclose on your home without going to court. These are called non-judicial foreclosure states. You can still use the “Produce the Note” strategy in these states, but it takes a few more steps on your part.
Aubrey is an active real estate investor, broker, and short sale mentor whose focus is to save every family possible from foreclosure. Over the last year, he has become one of the nation’s premier authorities in the short sale business and continues to buy and sell short sale and pre-foreclosure properties throughout the greater Orlando and Central Florida...read more »
