Finding Pre-Preforeclosure Deals

We are doing the training we did earlier again for everyon*ethat missed it or if you want to attend the training again,you can if you get one of the last 11 seats left. Here is just a few of the powerful strategies I’ll becovering on the webinar:

* 3 unspoken secret marketing techniques for findingPre-Preforeclosure deals for FR’EE before your competitionknows about them. * How to find the most motivated sellers that have thehighest profit deals so you are NOT wasting your time withunmotivated sellers or small deals. I’ll show you how toquickly and easily find these deals for FR’EE right fromhome on your computer.

It’s incredibly powerful and I’ll berevealing it forthe first time. * How to increase the response rate on your direct mailcampaigns by 500% by using a simple little trick that I’llcover in detail. After you discover this, your direct mailcosts will go down by 80% because you won’t have to sendthehundreds of mail pieces anymore.Get in here now before all the seats are gone:http://www.dcfawcett.com/goDid you hear the great news for Short Sale Investors? Since suffering home sellers cannot pressure banks to moveshort sales along, The Treasury Department has stepped in tohelp move short sales and mortgage modifications onto afaster track.Based on National Association of Realtor (NAR) statistics,almost 500,000 home sales this year were short sales.

Thisrepresents a national average of almost 10% of all homesales. In South Florida, California, and Las Vegas, whichwere hardest hit by the housing crunch, the numbers of shortsales are well above that national average.Considering that the typical short sale never takes lessthan 3 months, and usually closer to 6, to conclude,anything that expedites the time frame will be appreciated.At the moment, more than 650,000 homeowners are enrolled inthe Making Home Affordable program that is designed to takesome of the pain out of short sales and home loanmodifications.At the current moment, only about 1,700 homeowners havemanaged to complete the home modifications sponsored by theObama Administration. However, Herald-Tribune.com says theTreasury Department expects that figure to move closer to375,000 before the end of 2009.The Treasury’s plan to help home sellers to expedite shortsales will be appreciated by both sellers and buyers alike;the frustrating wait that goes along with short sales causesalmost 80% of these contracts to fail.

What also complicates matters, and prolongs short salenegotiations, is that lenders constantly argue over salesprices, what their share of the proceeds should be, andwhether or not to hold the borrower accountable foruncollected debt.New requirements will alleviate this problem, as well as thetime factor. Under the new government rules, lenders will begiven only 10 days to approve or disapprove the terms of theshort sale. In addition, they must release the borrower fromresponsibility for any unpaid debt. Realtors will also havemore incentive to handle short sales, because under the newrules, lenders can no longer arbitrarily reduce salescommissions,While banks may hem and haw over short sales, Reuters saysthey lose far less money than they would if the houses wereto go into foreclosure.Knowing that they will not have debt hanging over them, moreowners may opt for short sales because the credit hit fromthat process usually lasts only 2 years.
However, should abank foreclose on a borrower, his or her credit will beadversely affected for at least 10 years.
The administration’s new efforts to push short sales andloan modifications will include closer analysis of thelarger mortgage banks on daily basis. Also, The WashingtonPost says the government has vowed to publicize and thus,publicly shame banks that are not performing in a manner theTreasury Department deems worthy. The first such culprits are expected to become part of thenews by next week.

In addition, the bonus payments of$3-4,000 that will be paid to loan servicers for each familyserved will be withheld until the loan modification made toa family becomes permanent.While this short sale and mortgage loan modification planlooks great on paper, there is one major short fall:mortgage servicing companies are not required to put thisprogram into effect until April 5, 2010.Until then, we haveto hope banks will play fair and act on their bestbehavior.Don’t forget to register for the webinar before you go grabdinner.Register Here: