Charles Gardner-Real Estate Consultant

Mortgage Loan Modification-Humble, TX

The mortgage loan modification process is not an overly difficult one. The fact is lenders are very motivated to work with you. For lenders, a loan modification is the preferred solution to help troubled homeowners.

There are 6 key elements that the lender will look for when considering a Mortgage Loan Modification:

The factors they will look at are:

1. Hardship
2. Ability to pay
3. Amount Owed
4. Equity in the property
5. Future financial situation
6. Does it make more sense to have the borrower sell the home via a short sale.

A loan workout or loan modification generally occurs where the parties to a problem loan mutually agree to work out the problem by creating new and better loan terms.

The hope is that the new loan will enable to the borrower to meet their obligations. Often times homeowners don't want to or simply can't do the loan modification themselves.

They prefer to hire a professional to work with the lender to modify their loans for them. Increasingly, millions of borrowers are turning to ‘Mortgage Loan Modification' specialists to provide this service for them. http://humble-homz.com/loanmod.aspx

Five Fast Ways to Fund Your Short Sale Empire

Are you an Average Joe just hoping to hang on to your job and making ends meet despite the faltering economy? Have you convinced yourself there is nothing more you can do to better your position in life than just sit by and wait for the other shoe to drop until you join the long lines of unemployment? Fortunately, not only are you wrong but the fact is, you are living in unprecedented times.

For the first time in decades there is now an opportunity to purchase real estate at a fraction of the cost with the benefit of low interest rates. Before you dismiss the idea of building a short ale empire of your very own as something reserved only for those with oodles of extra cash just waiting in reserve take time to keep reading. We will outline five fast ways to fund your short sales empire this year it's all you need to get started with the ShortSalesRiches course.

1. Skip the New Big Screen for Super Bowl Sunday. Heck, you could be having so much more productive time that you skip the Super Bowl entirely; for less than the cost of upgrading to that extra large LCD or Plasma screen plus the price of beer and party trays you can afford to invest in an education that provides all the information you need to start buying and selling short sale foreclosures and discount real estate.

2. Buy a coffee-maker and kick the Starbucks habit. Yes, we know it's convenient to fall out of bed and buy a sugar laden caffeine rich beverage on the way to work but that extra $5 per day is more than enough to pay for tools and training to start with short sales. If your spouse does the same you might save more than enough throughout the year for a solid down payment along the way!

3. Take a gourmet cooking class and eat in once a week. Not only will you save enough money to fund your short sales empire but it's a great way to spend time with family and friends while eating better at the same time. Your waist-line and wallet will thank you!

4. Go to the library once a week. It's good for your mind and makes a super cheap date. Okay, admittedly this might work better for those of you who are married with children but you can save serious cash by rediscovering your local library. If you haven't visited for awhile, you will be pleasantly surprised to learn that in addition to books most libraries rent videos, music, games and even have special events like story-telling for the children. Now you can save on media and entertainment while investing your time and effort into something that provides a great rate of return.

5. Invest in yourself then pay it back with the profits. Sometimes it just takes a leap of faith; set your goals then give it a try. Pay yourself back with the profits from your first sale.

See you on the other side! 2009 is mine!

Charles Gardner, Short Sale Investor

http://humble-homz.com/benefits.aspx

Poverty Mentality: Learn to Break the Bad Habit & Plan for Success

Is a poverty mentality keeping you from breaking into short sales? Learn how to break bad habits like a negative attitude, poor financial outlook and other self defeating behaviors that keep you in the poor house rather than planning for prosperity. Investigate your own money-mindset by answering the following items truthfully:

1. Do you find yourself seeking the approval of friends and family on a regular basis?

2. Do you find it difficult to separate fact from fiction especially when it comes to finances?

3. Do you expect the government, insurance, benefits or someone else to "come to the rescue" when times get tough?

4. Do you expect to fail or believe things are left to "fate", "chance" or pure "luck" rather than hard work and informed decisions?

5. Do you find it unusually difficult to invest rather than gamble with money? For example, are you more likely to buy a lottery ticket or go to Vegas than purchase an information product that can teach you how to profit from your time?

6. Do you believe hard labor is the only way to get ahead in life?

7. Do you think riches and wealth are just for those fortunate enough to have "connections" or be "born with a silver spoon"?

8. Do you apologize or dismiss your success rather than gracefully accept the praise and credit?

9. Do you find yourself getting excited by something only to feel stupid later once someone disagrees with your position?

10. Do you fear change and find it difficult to leave the past behind?

If you find yourself answering yes to these statements, it's time to set aside the negative attitude and begin replacing it with a positive mindset. Don't allow fear and negativity to control your financial future. Success is a choice not a simple random chance.

Because it is a choice you can control your financial future by taking the time and energy required to educate and inform yourself about short sale investing then put together an action plan for success. In fact, you can change your life as rapidly or slowly as desired simply by putting an end to the defeatist mentality that keeps most people in poverty their entire lives. Instead, find out how easy it can be to transform your negative mindset into a positive force for your financial future.

You have heard it said "time is money" and no place does that hold more true than when investing in short sales real estate. Have you ever stopped to calculate the cost of your actual time? What about the value of that same time?

Most people sell their time in exchange for as little as $7.15 per hour (minimum wage). Take time to really let that set in envision the last day of your life with your loved ones by your side.

Would you trade that last hour for $7 - pre-tax!?! Of course not! Yet each and every day people shuffle to and from work, spend hours each week in traffic and plow through jobs that leave them mentally and physically exhausted in exchange for a few dollars per hour.

Let's work in reverse and assume you want to generate an additional $1,000 per month or $12,000 per year - after tax. What are your options? Well, if you are in the lowest income bracket (currently 15 percent) and went to work for yourself - you would need to earn an additional $$1,400 per month to bring home just under $1,000 per month. At $20 per hour (roughly the average hourly income) that would require an additional 70 hours per month or the entire year assuming it didn't push you into a higher tax bracket!

What about short sales? Is it possible to make $12,000 from just one deal? Of course! That plus much more is entirely possible - in fact, it is done on a regular basis. How much time does it take to find, place a bid and purchase your first short sale property? Probably less time than it would require in your first month of part-time work above and the first time is the toughest! Once you understand the process and your financing is in place, each subsequent deal becomes easier and easier.

What would happen if you just turned one solid short sale deal each year? For ease of numbers let's just call it $10,000 a year. For less than one or two week's worth of work you could reduce household debt, afford a great vacation, save for retirement or pay for the kids college without having to spend all your time away from home.

Finding the time to begin investing in your financial future is as simple as 1-2-3.

1. Cut the cable and invest 3 months worth of the savings into education. Now you have the time and money required to educate yourself on the basics of short sale investing. Simply transfer the money you would normally spend on those premium cable channels into information that will transform your financial future.

2. Set aside the time to get started. If you normally watch television every night for an hour or two; replace it with short sales prospecting. Whatever works best is the right method for you - just do it!

3. Stop dreaming and start doing. Seriously, take action. Planning only goes so far but action is where the rubber meets the road. Make it a priority to fill out the paper work and put what you have learned into practice. Commit to doing at least one short sale deal then make up your mind whether or not it was worth it. Chances are you will wonder why it ever took you so long to begin!

See you on the other side! 2009 is mine!

Charles Gardner

Short Sale Investor

http://humblehomz-re-solutions.com/shortsaleriches.aspx

Bad News - Motivation or Madness?

How do you respond to bad news or a set-back? Much depends upon how you see the world and your position in it; for those that believe they are victims left to the whims of others they are likely to respond to bad news with tears, pity or anger. Remember the aftermath of hurricane Katrina?

Some people literally stood around looking stunned and waiting for someone to come rescue them while others became energized and took matters into their own hands while providing assistance to others even as their own homes were washed away. Those that hold a more independent view of themselves are likely to view bad news as a major motivation.

Learn how to sharpen your skills and transform bad news into motivation rather than madness with these simple tips:

1. Don't sit still. Remember when you were first learning to ride a bike? It was exciting and frightening all at the same time but eventually you fell and then wanted to wait it out instead. Your parents probably encouraged you to stand up, brush yourself off and get back on the bike right away.

The same applies to bad news as an adult; rather than take time out, it's usually better to jump right in with both feet. So, for example, while others might apply for unemployment benefits and take it easy for a week or two, they risk falling into a trap of non-productivity that can become lethal. Instead, use the extra time to make long term life changes like investing in short sale real estate to generate a long term passive income for the rest of your life.

2. Don't cry over spilt milk. What is done is done and in the past; people with a victim mentality tend to focus on the past rather than the future. Unfortunately, in life and investing that is a big mistake. Transform hindsight into a vision for the future by taking control of your financial life while interest rates are at historic lows and the buyer's market remains in full swing. Who can say how long it will last before the banks are nationalized and government begins to intervene into the real estate market?

3. Don't become immobilized by fear and indecision. It can be tough to act when the future is unknown but it's equally important to weigh the options of failing to act. Remember, every action has a corresponding re-action or "price tag" including the option of not acting. Although bad news might increase uncertainty, it also is a time when action is absolutely necessary to stave off disaster. One look at the success of those that depend upon "big brother" to bail them out whether banks or individuals should be enough to spur someone to action!

Figure out your desired destination and then build a course of action to get there. ShortSalesRiches.com provides all the tools and techniques needed to sharpen your skills and know-how in order to succeed in real estate.

See you on the other side!

Charles Gardner, Short Sale Investor

http://humble-homz.com/benefits.aspx

Compare Earnings: Joe the Plumber versus Jim the Investor - Who Wins?

For those new to short sale investing one thing often comes as a total surprise; earned income is the worst type of income to have. Not only do you exchange your hard labor, blood, sweat and tears for an hourly wage or salary...but it is heavily taxed. In fact, the harder your work, the higher it is taxed. You literally work more to bring home less and less. On the other hand, instead of trying to get a second (or third) job only to watch the government take more and more of your hard earned income, purchasing short sale real estate in the properly held method allows you to generate significant cash flow, future appreciation and keep more of the earnings!

Let's present two situations and see how the scenario plays out. Joe and Jim both need some additional money in the bank to save for retirement, put the kids through college and splurge on some fun for the family now and then.

Joe is an average working class guy....let's just say he's a plumber since that seems to be a popular name for plumbers. He makes $65,000 annually which puts him into the 25 percent tax bracket plus he pays an additional 15 percent for FICA/Self employment taxes. Joe decides to work nights and weekends to generate more income and manages to bring in an additional $15,000 per year.

Unfortunately, that now puts him into a 28 percent tax bracket for earnings plus the 15% self employment portion so he only brings home $8,550 of the $15,000 he earned. It's not a lot but hey, it helps and times are tough. Since the current rate of inflation is approaching 6 percent, by the end of the year Joe's actual purchasing power is down another $500. He's worked a lot of extra time for an extra $8,000.

Jim decides to invest in short sales instead. He also earns $65,000 a year at his regular job and pays the same in self employment/FICA taxes. Jim finds solid short sales investment and takes the plunge to purchase a home that he rents for a year and day then sells for a profit of $15,000 after expenses. Let's see how Jim makes out assuming all the rest of the numbers remain exactly the same. During the one year of rental, Jim actually gets to depreciate the home and write off many of his expenses against his regular earned income. To keep things simple, we will assume he does NOT make any profit from the rent each month (although in reality he easily could do so) and simply breaks even for an apples to apples comparison to Joe's situation.

He still gets to depreciate the cost of the home and write off many expenses against his regular earnings. After a year is up, Jim sells the property and out of his $15,000 he is taxed at a Capital gains rate o 15 percent. He gets to keep $12,750 versus only $8,000 that Joe got to keep after taxes. After adjusting for inflation he still has over $11,000. Now ask yourself, since Jim doesn't have to spend every spare hour working, how many of these homes could he afford to buy?

If he purchased 10 of them and did the same thing, each one would still only be taxed at the same capital gains rate. Notice, this is an extremely conservative and simplistic example. In reality, Jim would likely make a profit from the rent, benefit from numerous tax benefits from holding real estate and the home would likely appreciate in value over time.

The bottom line: Earned income is the most expensive way to generate additional cash flow. Not only does it take all of your additional time and leave little energy for living but the harder you work - the more is taken. Short sale investing benefits from tax advantages and the potential for capital gains rates.

See you on the other side-2009 is mine!!

Charles Gardner

Short Sale Investor

http://humblehomz-re-solutions.com/shortsaleriches.aspx