Mark Your Calendar for Wednesday Evening
September 9th at 8 PM EST
Free Webinar
Loan Modification Made Easy!
Hey everyone, Hunter here and I wanted to pass along some really cool info about how you can start to generate income from Loan Modifications Nationwide quickly and easily!
You see, I've convinced my good buddy (who I've known for almost 5 years) Mike Kane - CEO of ForeclosuresDaily.com to talk to you about his revolutionary new Loan Modification product that he just launched a few days ago.
This product is so hot and new, he just finished putting all the pieces together and it fits in PERFECTLY for all my short-sale students.
Join us Wednesday evening September 9th at 8 PM EST where Mike will be teaching you how to prosper by helping people modify their loans under the new Gov't programs.
The best part about it is that, get this, you never have to:
- answer the phone
- worry about qualified leads for the program
- do any paperwork
- learn any of the gov't programs or laws
I couldn't believe it. Yeah, the system Mike has created to help people modify their loans is going to blow you away.
Get registered for the webinar today and don't miss the boat on the next "big thing" in Real Estate and our overall economy, which by the way fits perfectly and seamlessly into your short sale business.
CLICK Here TO GET REGISTERED FOR THE ONLINE CLASS
Bonus: Just for attending the webinar next Wednesday evening, I've convinced Mike to give you a Free Report entitled: "Discover the 7 Secrets to Successful Loan Modifications"
Save your spot now!
To Your Success,
Hunter
407-772-2274
A BPO stands for Broker’s Price Opinion. A Real Estate Agent or Broker performs it. The purpose of the BPO is to determine the value of the property. The fee from to the Mortgage Company is between $50.00 and $75.00 versus an Appraisal that ranges from $250.00 to $300.00.
BPO’s can be done by Drive By, where the Real Estate Agent drives by and takes pictures of the outside only or it could be a full interior BPO is where the “Agent” physically goes into the property and takes pictures. A drive by BPO consists of approximately 3 pictures. Picture 1 is the front of the property, picture two is the side of the property, and picture three is the street scene of the property.
An interior BPO is more extensive and includes pictures of the entire property, including all interior damage, which can affect the value of the property.
The Mortgage Companies have BPOs done on properties when the Borrower/Seller becomes delinquent on his payments. The purpose is to
1. Check the value.
2. See if the property is occupied or vacant. If the property is vacant, they may decide to contact a property management company to secure the property.
In some states, they can accelerate the redemption period and take possession of the property.
Would you like more inside information about BPO's?
Go to - BPO Gold Mine - 12 STEPS TO A SUCCESSFUL BPO/APPRAISAL
To Your Success,
Hunter
407-772-2274
Judicial Foreclosure
A judicial foreclosure is a judgment ordered by a court in favor of a lender, ruling that the real property securing the debt should be sold under the foreclosure proceedings in order to satisfy the debt. This method is practiced in lien theory states, or those that use a mortgage to secure a lien against real property. The lien theory requires that a borrower hypothecate, or pledge, title to the property to the lender and that in the event of default, the lender, through court action, seek repayment from the borrower. The judicial foreclosure process is used in those states recognizing mortgages as the primary legal instrument securing a lender’s interest. A judicial foreclosure is a process involving the courts and is typically more cumbersome and costly than a non-judicial foreclosure. Furthermore, under this method lenders or lien holders are only allowed to recover the amount actually owed to them. In other words, lenders are not allowed to profit from the sale. Any overage that may occur because of competitive bidding must be returned to the original owner or borrower.
Non-judicial Foreclosure
A non-judicial foreclosure, unlike a judicial foreclosure, does not occur in a courtroom in the presence of a judge, but instead, occurs in the presence of a third-party trustee as previously set forth in the deed of trust. This method is practiced in title theory states, or those that use a deed of trust to secure a lien against real property rather than a mortgage. Recall that in title theory states, the deed is placed in trust with a third party until all terms and conditions contained in the promissory note have been satisfied. If at any time the borrower becomes delinquent on the loan, the beneficiary can instruct the trustee to file a notice of default in the county in which the property exists. The deed of trust contains a power-of-sale provision that expressly authorizes the lender to sell the borrower’s property through a trustee rather than a judge. The primary advantage of using a trustee rather than a judge is the ease with which this can be done. Again, filing a legal suit through the judicial court system can be both a lengthy and a costly process.
Come join me in Orlando, Fl August 28-30, 2009
for my 3 Days Live Short Sales Training Event!
Click Here
To Your Success,
Hunter Paschall
407-772-2274
An appraisal is the practice of developing an opinion of the value of real property, usually its Market Value.
Usually, an appraisal expert has attained some type of designation through formal study and examination by a recognized body.
The Member of the Appraisal Institute (MAI) and Senior Residential Appraiser (SRA) designations are awarded by the Appraisal Institute to those who pass certain tests, prepare detailed sample reports, demonstrations and complete years of appraisal experience.
Other highly credible organizations that award appraisal designations include the National Society of Real Estate Appraisers, the American Society of Appraisers, the International Association of Assessing Officers, and the National Association of Independent Fee Appraisers.
Designations from these associations assure that the appraiser understands the principles of appraisal and subscribes to a code of professional ethics.
All states are now required to license appraisers of real property. You can find local appraisers in the phone book, online, through your local Real Estate board or usually by word of mouth.
Value should be qualified as well. There are different types of value. The majority of appraisals seek to find market value. This is what the property is
worth to typical purchasers in a normal market. The Appraiser will always request a copy of the Purchase Agreement so they know what the
Buyer is willing to pay for the property.
If you are interested in what the property is worth under your personal circumstances, an appraisal can be made for investment value. An appraiser should be able to give an opinion of value under any conditions, as long as they are spelled out at the outset.
Most appraisals are used for factual support.
During the time that you negotiate with the Lender, they require either a BPO or an Appraisal. The purpose of the Appraisal is to show the Lender the value of the property.
Come join me in Orlando, Fl August 28-30, 2009
for my 3 Days Live Short Sales Training Event!
Click Here
To Your Success,
Hunter Paschall
407-772-2274
Get the personal mentoring you need from a Short Sale expert that will give you a simple streamlined system to put money in your bank account. Contact me today!
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