CHARLES G. HENNEBEUL

When you sign a document that says the bank will service your loan, or will sell your loan, it has nothing to do with you!

If you loan is sold it is for the following reason:

*Bank has multimillion dollar line of credit

*Line of credit is used to fund/finance residential or commercial mortgages

*Bank is required to pay interest on line of credit

*Bank comes close to using most of the line of credit

*Bank realizes it must pay back the line of credit so it can lend more loans!

*Bank creates a portfolio of residential or commercial loans

*Banks SELLS this portfolio.

*Banks use proceeds from the sale of tis portfolio to pay down the line of credit

*Bank can now close more loans!!!!

When you lock in the interest rate on "your" loan, you are asking bank to hold part of their line of credit for you so your loan can be funded. If you cancel the loan or are rate shopping and are asking more than one bank to lock in the loan you are costing the banks money and are driving rates up(slightly).

Foreclosures are LOANS THAT CAN NOT BE SOLD AND TIE UP THE LINES OF CREDIT!

That is why banks do NOT want your property. Yes there are some smaller banks that may pose as banks but are really bad bad real estate investors abusing the banking industry to further their FLIPPING schemes. These Flipper Banks almost always are shut down by regulators and 99.995 of the owners wind up in Jail with a new neighbor named Bubba!!!!!!!!!!!!!

My Uncle, same name as me was in the title business for over 30 years. He is now retired. He was also on the Board of Realtors here in Suffolk County. From time to time I bump into people that knew my Uncle. They all loved him and even one C.P.A. who worked with my Uncle was introduced to me by his son who had the same name as his father, just like I have the same name as my Uncle!

It was the Chicago Title Office that my Uncle worked for in the 1960s, 1970s and part of the 1980s. He then went and formed his own Abstract Company(equivalent of broker in Title Business).

Hidden Risk that can cause a loss of title or create an encumbrance on title:

*False impersonation of the true owner of the property(once had title determine Mother was acting as wife!)

*forged deeds, releases, or wills

*undisclosed or missing heirs

*Instruments executed under invalid or expired power of attorney

***Mistakes in recording legal documents

*misinterpretation of Wills

*Deeds by persons of unsound mind(definition may vary state by state)

*Deeds by minors

***Deeds into or out of an invalid or improperly created entity

*Deeds which reserve a power of appointment

*Deeds by person supposedly single, but in fact married

*Liens for unpaid estate,inheritance, income or gift taxes

*Fraud

Title Insurance may defend against lawsuits seeking to address causes of action on title matters. Title Insurance may pay for insured losses. Title Insurance policies remain in effect as long as you retain interest in the property.

This blog is for informational purposes only, is not a solicitation to sell title insurance, and by reading this blog you agree to seek the advice of an attorney on any and all legal matters. This blog is not to be used for legal purposes and any reliance on this blog without consulting an attorney/title insurer is done at your own peril.

Well here we go. After all the talk about free trade and globalization it dawned on me that I've been a victim of free trade. Basically it goes like this.

Manufacturers.

If a manufacturer loses out to cheap labor in another country they can't compete(and that is an unfair description because the Constitution and Federal minimum wage does not permit US manufacturers to compete with cheap labor-so has our own government failed to protect our businesses-I'm not saying we should use cheap labor in the US-I'm saying cheap labor has a legal advantage over US manufacturers required to pay minimum wage!).

That manufacturer might have wanted to buy another building --light industrial or full industrial. Well if they close down which has happened in NY and across America then they won't use me for financing that building purchase.

Before I entered this business I used to think manufacturing was tens of millions of dollars. There are manufacturers that generate less than 5 million in revenue. The point being-that smaller manufacturers need brokers help...the larger ones--well they don;t need me.

So is that all? no--manufacturers that close down due to free trade also don't use account receivable financing, equipment financing, asset based lending, invoice purchasing-all things that I currently broker! When I make money off of these transactions I can grow my business. Hire employees under me. These employees in turn buy houses, go to home depot, go to the movies, go on vacation, buy time shares and so on-not to mention the extra taxes they pay to the IRS which lowers the amount of taxes you and I pay.

I've seen manufacturers go out of business. Free trade. My Mom told me nothing is ever for free. Maybe the trade is free for a select few but it seems we are paying the price.

P.S. I'd be remiss to not add this:If you are a manufacturer STILL in the US and need financing feel free to email me or apply online at my website: http://www.mybuildingfunds.com

O.k. This is not for points. This is for Consumers/Restaurant Owners.

I will be creating an detailed breakdown of the types of financing I have for Restaurant Owners all through this week. I will also be doing this on my website which I finally am working on. I had said it would be updated by the end of April and am already 15 days ahead of schedule.

Charles Hennebeul

American Cash Solutions Inc

http://www.mybuildingfunds.com

Aol Money reported today that the IRS stats show the average taxpayer spends 26.5 hours on keeping records, reading statements and other docs related to filing their income tax returns. Now I undersand why C.P.A.s hate it when small business owners hand the receipts and records to the C.P.A. in one box, not organized. Yes it has happened. I have been told by c,p.a.s that these small business onwers just wind up paying for that through the bill.

If you can swipe a copy of turbo tax you should try simulating preparing your tax returns...that is after your C.P..A has filed your returns....you will see how much time goes into preparing returns, how you will need to understand records etc...and know what accountants go through.

I tried this and am sticking with using a tax attorney/c.p.a.

Speaking of taxes, did you know that cash out refinances on commercial buildings can be used to pay off federal tax liens? Of course your application is subject to the final approval from bank. But give it a shot and apply through our website...

http://www.mybuildingfunds.com

Sincerely

Charles G. Hennebeul

Owner

American Cash Solutions Inc.