It was stunning news when it occurred, and it is now confirmed: Bernard L. Madoff pled guilty to 11 criminal charges and admitted that he had run a multibillion dollar Ponzi scheme.
"I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed," Madoff told U.S. District Court Judge Denny Chin. "As the years went by, I realized my risk, and this day would inevitably come... I cannot adequately express how sorry I am for my crimes."
"When I began the Ponzi scheme, I believed it would end shortly and I would be able to extricate myself and clients from the scheme," he stated. "This proved to be difficult and ultimately impossible."
Madoff was immediately jailed and will most likely spend the rest of his life in prison - the charges against him carry a sentence of up to 150 years in prison and Madoff is 70 years old.
Hey dad, can I have another $31 billion? You know, every day that I read the papers or jump online it seems like another billion is getting doled out. And today was no exception. Freddie Mac, which lost a staggering $50 billion in 2008, said that it needs another $31 billion to continue to operate.
"Freddie Mac is working hard to serve our expanded mission in this historic crisis, by doing all we can to help stabilize the financial markets and hasten the recovery in housing," said David Moffett, Freddie Mac's chief executive officer. "We absorbed heavy financial losses last year, driven primarily by mark-to-market items and credit-related expenses. But we also provided vital liquidity to the strapped housing market - injecting more than $460 billion in mortgage funding in 2008."
And the guy who looks like he's right out of business school got a low grade from his professors. Timothy Geithner, who started his job as Treasury Secretary under a cloud of suspicion because of some back taxes owed, got an average grade of 51 out of 100 when judged by 49 economist by the Wall Street Journal. Fed Chairman Ben Bernanke did much better, getting a grade of 71 out of 100. And President Obama was in the middle at 59 out of 100.
What are the economists upset about? Most are concerned that the administration has not been clear enough about how they plan to handle the crisis. "They overpromised and under delivered," Stephen Stanley of RBS Greenwich Capital told the Wall Street Journal. "Secretary Geithner scheduled a big speech and came out with just a vague blueprint. The uncertainty is hanging over everyone's head."
But what was perhaps the most sobering statistic from the Journal's survey was the fact that they believed there was a one in six chance that the country will fall into a depression. Ouch.
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ITS HAPPENING TO EVERYONE! CALL ME TODAY! IF YOU DONT BELIEVE, WATCH!!
ENJOY!
While I laughed all the way through this clip...The last part will have you rolling on the floor... It's that funny.
http://www.youtube.com/watch?v=bNmcf4Y3lGM
http://www.coastalonedayfunding.net
USA Today ran this 2008 Foreclosures By State heatmap last week, reminding us of a simple truth: Headline statistics can be misleading.
According to data compiled by RealtyTrac, 1 in 8 U.S. homes were in various stages of default or delinquency at the end of 2008. This is a fact and it was widely reported by the press.
However, as the heatmap plainly shows, in stripping out just 35 of the nation's 3,232 counties, we can decrease the number of foreclosures nationally by half.
In other words, yes, 1 in 8 U.S. homes face mortgage trouble. In your neighborhood, though, the ratio is likely much, much lower. Real estate is a local phenomenon. National statistics rarely apply.
http://www.coastalonedayfunding.net
We are a nationwide affiliation of real estate investors who can pay cash
for your home or resale your home to one of our nationwide investors .
Sell your home online today with professional investors that make it happen, it's easier than you think.
We buy homes in any condition - ugly homes or really nice homes. We
buy homes in all price ranges and all locations nationwide.
We make fair offers that will net you more than if you sell it through a real estate agent or on your own.
If you are really motivated to sell your home fast...
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You can't know it all. No matter how smart you are, no matter how comprehensive your education, no matter how wide ranging your experience, there is simply no way to acquire all the wisdom you need to make your business thrive." Donald Trump
Whether you like Donald Trump or make a mad dash for the remote at the first sign of bad hair, one thing is certain...he thinks big and has been around the block a few times when it comes to real estate.
Short sale investors should take note of the above words of wisdom from one of America's larger than life billionaire real estate investors; trying to do everything your self is a recipe for failure when it comes real estate. Savvy short sale investors understand when to seek outside help and how to avoid the burn-out, excessive cost and time traps that often turn a would-be profitable enterprise into a money pit. The following represent the most common jobs best left to others:
1. Education. Like Trump said, there simply isn't any way to acquire all the wisdom you need to make your business thrive; it would require all of your time and effort while leaving you little time to do anything else - like actually invest in short sales! Instead, team up with others that have the skills, knowledge and networks you need. Invest in the best information and education you can afford when first getting started then hit the ground running - your first deal will more than make up for the difference.
2. Sales & Services. Put a team of hardworking sales and service experts in your courtyard then deduct the cost from taxes. Very few people are able to break even when doing sales and service related work on their own; not only do they take longer and typically yield less impressive results since they are not experts in the area but the IRS excludes deducting for one's own time unless you are a full-time professional in the area. When you calculate the total cost of hiring others to do the job for you, 9 times out of 10 you will come out ahead by taking the tax deduction and moving on to bigger and better things.
3. Renovations. While sweat equity may be the only way for some people to get into the game, renovations can be costly, time consuming and expensive to tackle on your very own. Calculate the cost of doing all the work on your own then get creative about hiring help; bartering, hiring day labor or independent contractors can drastically reduce the time required to get the job done at a fraction of the cost. Don't forget, you can have a company perform all the screening, background, payroll and taxes on your behalf - another major time saver!
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Providing many solutions in real estate and banking. Commercial or residential financing. Buying houses pre-foreclosure, subject to, or short sales!
Are you behind in payments and facing a foreclosure of your home?
Are you behind in payments and facing a foreclosure of your home?
Are you behind in payments and facing a foreclosure of your home?
We might be able to help!
We understand that going through foreclosure process, risking to lose your home and ruin your credit is a dramatic experience. It's also a huge financial burden.
The simplest way to stop the foreclosure process is by bringing the loan current. That typically requires a large lump sum of cash to cover:
* All missing payments,
* Late fees,
* Attorney's fees,
* Very often the cost of inspections and appraisals is also added,
* Sometimes the title report costs are added.
Often the pain of trying to deal with uncooperating lenders and their lawyers is too much to bear emotionally in addition to the financial stress.
There are different ways to deal with foreclosure which we'll cover in the section below.
For some home owners in foreclosure the financial burden and the emotional pain is so high - they prefer to leave and start from scratch at a new place of residence.
In that applies to you - the best alternative that will minimize the impact on your credit is to sell the property to a professional buyer who has funds and can perform.
If you already have made up your mind about selling your home now, please visit our page or simply call our office. http://www.coastalonedayfunding.net
Would Like To Try and Keep The Home, But Have No Money to Stop Foreclosure?
If you're interested in staying in the home and YOU HAVE A LOT OF EQUITY we might be able to offer you a plan where we put up the money to bring the loan current and stop the foreclosure while you'll be able to stay in the home.
If this option interests you, please call our office right away to discuss it.
Not Sure Yet What To Do?
If you don't know what your options of dealing with foreclosure are and haven't yet decided what you want to do about it - we recommend getting our FREE Report.
FREE Special Report Reveals: "7 Ways To Stop Foreclosure"
This report is for you. There are some things you CAN do to stop foreclosure and save your credit. Now, there are no miracles, not all of the methods described in this report will be applicable to your situation.
If you have no equity in your home, and you have not made payments for over 12 months, you have already filed bankruptcy and fallen behind on your plan, the strategies outlined in the report will not be helpful to you.
If, however, your situation is not that dramatic, there are still some steps you can take to avoid foreclosure. http://www.coastalonedayfunding.net
Use this section to write about your specific areas of expertise. Do you specialize in first time buyers - listing high end homes - etc. Are there specific market area's that you specialize in? The more you write about your area's of expertise the more knowledgeable you'll sound to a potential buyer or seller.
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