I represent the buyer. There is an option contract on the property with an investor/ loss mitigation company. I have been working on getting this contract executed for over three weeks. One of the main problems has been the listing agents lack of knowledge and personal issues as well as the broker.
We are very close to an agreement and then the government changes the laws and my client is having no luck getting a 30 fixed loan on this house based on the structure. My client is an A buyer with great credit.
The option was never recorded either.
The way I see it is this house will have to be sold to a cash buyer or the investor needs to step to the side and let the sale with the seller and buyer go thorough.
Any tips, connections, or advice on what to do?
Thanks,
Fred in Florida
Here is an article that puts it all in perspective. For those of you that know me I raced with John Force in NHRA when I was racing Pro Stock Motorcycle. I thought I would share.
Merry Christmas,
Fred
John Force Racing -- 15-time Funny Car champions
Monday, 22 December 2008
Here we are closing in on Christmas and we're all under the stress of this financial crisis. I mean, I'm sitting around waiting for congress to make a decision that might be the difference between us racing or not. That's crazy, but it's reality.
If you haven't noticed, we're in a recession. You just better hope we don't hit a depression because my mom lived through the first one coming out of Oklahoma and the Dust Bowl. I've heard the stories and it wasn't pretty. I have that trailer we used to live in right across the street from my museum. It was so small that you'd take a shower and use the bathroom at the same time because it was all together. I thought those were hard times, but it was nothing like what my mom had when she was a kid growing up in the Great Depression.
Let's get something straight -- It ain't hard times when you lose a sponsor. It ain't hard times when your car ain't fast. The people whose houses burned down last month out here in California, they're having a hard time. These mud slides cause hard times when people lose everything. Factories are closing down and people are losing their jobs. The home foreclosures you see every day on the news. All of those things are real hard on people.
What you have to do when you're down like this is figure out how to turn it around. That's what I've found out in my life. Hard times make everyone equal. When you're down in that foxhole and bullets are flying, it doesn't matter who you are or how much money you have. You just worry about the people that are important to you.
Some people just collapse under pressure. But when I'm under pressure I think that's where I'm at my best. The biggest crisis in my life was the death of Eric Medlen. I'll never face anything like that again, God willing. Nothing in my lifetime prepared me for that. And John Medlen is the real one that suffered the pain. And Eric's mother, she suffered as much as anyone.
I cried and cried and I suffered too. It was so bad I reached a point where I had to go to therapy. I wanted to quit racing. I really did. But I found a way out of it.
We can watch the news and feel like the world is collapsing and I know that feeling because that's how I felt when Eric died. I blamed myself for his death. I was all about winning and maybe I overlooked something. Now I'm all about safety, because if you can't keep the drivers alive then what's the point of any of it. I had to turn my suffering into something good and that's why we've spent so much time and money on making the sport safer. That's turning something bad into something good.
One of the best things about American people is that they really pull together when times are bad. I think that's why wars bring people together. Maybe that's why God creates war, to let us suffer together so we see what really matters. Maybe that's what's going on now. It's time to refocus on the really important things. That's what God wants.
When my baby Courtney was born they took her straight over to Children's Hospital. We thought we were gonna lose her. I went there and cried and just stopped caring about everything else because it didn't matter. But she fought and came through. Maybe she has that fight in her from me and her mother.
Bottom line, at the end of the day we're all gonna make it. Maybe we won't have the biggest presents under the tree this year. So what? We're all in this together and we need to face the challenges and rise up to them.
Have a great Christmas and take a minute to realize what's important to you. I can tell you this, it ain't under the tree.
Force
So you want a new car. Typically people goto the car lot and talk with a salesman get a good deal and buy the car. They talk with the finance dept. and the guy behind the desk asks them what would you like your payment to be. He then proceeds to put the loan together for 3,4,5,6, or even a 7 year term so that you are happy with your payment. You sign the papers and you drive off with a new car.
Here is what the Rich do when it comes to buying toys (cars, boats, motorcycles, etc. or as Robert Kiyosaki calls them DooDads) They buy an Asset (i.e. Real Estate) that cashflows each month equal to or greater than the car payment. They take the cashflow they receive each month to pay for their toys.
Let’s say you are not the typical American and you could pay cash for the car say $25,000. “Why not” put $25,000 down on a piece of Real Estate that will cashflow $350.00/mo. to pay for your car? I will tell you why F.E.A.R. (false evidence appearing real). Most people are scared and don’t take action. Once you know your risks and have assessed them take action and get the toys for FREE.
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