Melanie Rogers

UNION, N.J., Jan. 6, 2009 (GLOBE NEWSWIRE) -- Center Bancorp, Inc. (Nasdaq:CNBC), the parent company for Union Center National Bank ("UCNB"), today announced that for the fourth quarter of 2008, it intends to establish an additional loan loss provision of $100,000 and charge-off approximately $250,000 in connection with an outstanding commercial real estate project that it has recently taken into Other Real Estate Owned (OREO).

At December 31, 2008, the Corporation expects non-performing assets to amount to $4.7million, including OREO of $3.9 million. The above-mentioned provision and charge-off for the fourth quarter will be in addition to the Corporation's anticipated quarterly loan loss provision and charge-off amounts. We expect the total provision and total net charge-off for the fourth quarter of 2008 to be $425,000 and $252,000, respectively. We Provid The Cash which was created by John Alexander hopes to corner a lot of non performing assets in 2009.

The Corporation continues to experience high loan demand and despite this one isolated project, is experiencing strong asset quality throughout its loan portfolio. Total loans are expected to amount to $676.2 million at December 31, 2008, which is an increase of $124.5 million or 22.6% over total loans at December 31, 2007.

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"HOME SELLER ASSIST PROGRAM"

Career Training as a Real Estate Note Consultant

Learn the Insider Secrets of Real Estate Investing!

Melanie Rogers

E-mail: june11@bellsouth.net

Cell: (225) 328-4233

Become a Loan Modification specialist

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If you have a passion for making a difference, and are rethinking your career path-perhaps you should consider becoming a Loan Modification Specialist. A loan modification specialist is able to assist the millions adversely affected by the housing crisis, and potentially make a difference in their lives and ensure that they are able to remain in their homes.

A loan modification specialist has the connections to renegotiate unreasonable loan terms by working directly with the lender, and knowing the mortgage industry inside and out. A loan modification expert has extensive mortgage industry knowledge paired with legal counsel, paired with the fact that they operate with the best interest of the borrowers in mind-this creates an impact that changes lives.

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Save Homeowner's From Foreclosure

Most homeowners have no one to provide them with assistance in rectifying their delinquency situations - they simply aren't familiar with the rights or options they have available to stop the foreclosure process. As a result, they are inundated with dozens of calls from real estate investors, who naturally want their property, or attorneys, who advise them to file bankruptcy - not knowing that Loss Mitigation will earn the same fee, take less time, and produce a much more favorable result.

These professionals do not have the homeowner's interest at heart, trying to take advantage of the homeowner's misfortune. Without some intervention from an outside source, foreclosure is right around the corner. This has created a massive niche market, untapped until now, creating a lucrative opportunity for you.

This business is exploding, I am looking for sales professionals that can sell a loan modification to people who are in trouble with their mortgages, possibly losing their homes.
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Any questions call:
Melanie Rogers
Home Retention Specialist
225-328-4233

Nothing really changes for the homeowner facing foreclosure. They continue to lose their homes at the current rate. My Inverse Purchase techniques continue be the most effective and only way to flip homes using no credit and no moneyBanks don't have to sell to the public anymore at pennies on the dollar. Short sales reduce in vast numbers over the next few months. Current REO's are transferred to the Fed directly or indirectly through other lenders connected to the Fed ProgramHome prices will stabilize in the next 4 months, but the "Buyer's Market" will continue for the next 2 years, minimum. Sellers will continue to have problems finding buyers over the next 2 years thus, giving us plenty of opportunity to earn larger than normal profits by using my creative strategies to flip homes. Here's my interpretation of how the Bill will Play out. This is my interpretation and opinion of how the bill plays out, and NOT what the Bill describes in detail. First, not all lending institutions will want to get in bed with the Government on this Bill and others will not be accepted by the Fed to participate in the bailout. But bad loans from these non participating institutions would be able to sell them to institutions that are Fed participants. The Fed will set the price they will pay for bad loans and/or bad pools of loans. Once this pricing is set, then non participating lenders/banks will know the value of their bad loans on a per loan basis. These loans could then be valued within a few points of what they could be sold to the participating bank. This means that lenders nationwide would no longer need to sell homes at pennies on the dollar nor short sale at deep discounts as they do now. While this appears to stop short sales at the current deep discounts we see now, (assuming the government pays more that 60 - 70 cents on the dollar for bad loans), it will set up a new flip environment that will grow rapidly for those who have the keys understanding how to work under the new rules. Since homes sold at deep discounts will start to disappear from neighborhoods, this will have a positive impact on the current downward home pricing trend. Home prices will stabilize at the current pricing for homes in any given area. However, I don't see home prices rising anytime soon due to the current glut of homes on the market. It may take up to 2 years to reduce the numbers down enough to see growth in pricing again. The following is what the Bill actually details... The Fed will buy and hold either the note and mortgage instrument itself or buy and hold derivatives backed by notes and mortgages. In either case, the Fed will keep the Loan Servicing Company (the company in charge of collections and foreclosures for lenders) in tact on the loans. The Servicer will continue to attempt to collect and loss mitigate including completions of workouts and short sale transactions. The Fed will encourage the use of HOPE for Homeowners losing their homes to foreclosure. If the homeowner is unable to make payments under a workout program, then the Servicer will process the foreclosure. The Fed then ends up with the title to the home and will then pool these homes and sell them at the highest price available on the open market at some time in the future or when home prices rise enough for substantial profit to tax payers. (This will most likely be done on a sliding scale. They will sell some now at lower prices and as time goes by, raise the price depending on how much of the fund they use up. They can only use 250 billion at any one time). The nonprofit government backed organization named "HOPE" will work between the homeowner and the Servicing Company so the Servicer can determine if the homeowner can make a modified loan arrangement, this includes the same factors that they currently use. Reduce the rate, reduce the principal etc. But most homeowners losing their homes can't make even that kind of reduced payment therefore, the numbers losing their homes to foreclosure will continue at about the same rate as if this plan was not enacted. The Rescue Plan was created to help the Banks/Lenders, and NOT for people who can't make their house payment. This fact means that we investors will continue to operate the same as we have been. Below are the parts of the New Senate Rescue Bill that pertains to Real Estate Investors. STANDARDS.—To the extent that the Secretary acquires mortgages, mortgage backed securities, and other assets secured by residential real estate, including multifamily housing, the Secretary shall implement a plan that seeks to maximize assistance for homeowners and use the authority of the Secretary to encourage the servicers of the underlying mortgages, considering net present value to the taxpayer, to take advantage of the HOPE for Home owners Program under section 257 of the National Housing Act or other available programs to minimize foreclosures. CONSENT TO REASONABLE LOAN MODIFICATION REQUESTS.—Upon any request arising under existing investment contracts, the Secretary shall consent, where appropriate, and considering net present value to the taxpayer, to reasonable requests for loss mitigation measures, including term extensions, rate reductions, principal write downs, increases in the proportion of loans within a trust or other structure allowed to be modified, or removal of other limitation on modifications ACTIONS WITH RESPECT TO SERVICERS.— In any case in which a Federal property manager is not the owner of a residential mortgage loan, but holds an interest in obligations or pools of obligations secured by residential mortgage loans, the Federal property manager shall servicers of loan modifications developed under subsection (b); and (2) assist in facilitating any such modifications, to the extent possible. Text of the Bill: http://www.notebiz.com/bailouttext.pdf">www.notebiz.com/bailouttext.pdf

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CLICK HERE TO LEARN HOW TO SELL HOMES IN 2 WEEKS Melanie Rogers MasterMind Team "Home Seller Assist Program" Career Training as a Real Estate Note Consultant Learn the Insider Secrets of Real Estate Investing! Website: http://www.make12konline.com E-mail: june11@bellsouth.net Phone: (800)299-4881

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This company has a solid track record and just introduced their new program to help Mortgage, Real Estate Professionals and Real Estate Investors. There is also an opportunity for business professionals as well.

With banks tumbling over like dominoes and government bailouts and bankruptcies imminent, private money will become a huge niche industry
that will be the next big wave for people who are on the ground floor.

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So far this year, the federal government has put up nearly $30 billion to avert a major financial default by the investment bank Bear Stearns; committed to investing up to as much as $200 billion in preferred stock of the loss-plagued finance giants Fannie Mae and Freddie Mac and at least $5 billion in their mortgage securities; and agreed to provide an emergency loan of $85 billion to American International Group Inc. in return for an ownership stake of as much as 80 percent in the stricken insurance giant.

Tuesday's helping hand to AIG bailed out not only that company, which was contemplating a bankruptcy filing as early as today, but also countless trading partners of the company, including investment banks that had failed to raise the massive loans themselves to bail out these troubled institutions.

In the meantime, homeowners are going to have even more trouble selling their homes and buyers simply will not be able to be approved for financing as lending guidelines tighten. Where will these homeowners go for funding?

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