Comments on: Past Due: 7.3 Million Mortgages http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/ Fri, 24 Feb 2012 00:00:31 +0000 hourly 1 http://wordpress.org/?v=3.0.3 By: Tim Silvers http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/comment-page-1/#comment-278 Tim Silvers Sat, 08 May 2010 19:37:26 +0000 http://www.rewealthcoach.com/?p=604#comment-278 Bob, Thanks for the information...appreciate it! Tim Bob,

Thanks for the information…appreciate it!

Tim

]]> By: admin http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/comment-page-1/#comment-262 admin Tue, 04 May 2010 13:08:44 +0000 http://www.rewealthcoach.com/?p=604#comment-262 Glad to do it, and thank you for continuing to read! Glad to do it, and thank you for continuing to read!

]]> By: admin http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/comment-page-1/#comment-261 admin Tue, 04 May 2010 13:08:06 +0000 http://www.rewealthcoach.com/?p=604#comment-261 Liz and Tim, There is no way to know the exact range of those expected foreclosure houses. They are expected to be more high end that what has been over the last couple of years because of the number of Option ARMs and ARMs in general that are due to mature in the next 12-36 months. The high end opportunities should increase along with the failure rate of those notes. It is increasingly difficult to get pretty REOs at a price that you can flip them and make a profit. The REOs that need work are where the best opportunities are. My suggestion is that you work the pre-foreclosure market aggressively and get them as a short sale rather than as an REO. Although they tend to be a lot of work, they can be very lucrative. When you work pre-foreclosures you will find all types of deal opportunities. They are not all pure short sales. I am working one now that will be extremely profitable and I am able to do it without a short sale even though I found it through the foreclosure notices. I also suggest that you develop a very active relationship with as many real estate agents as you can. They know about the deals earlier than anyone else and you may be able to "steal" and REO before anyone else knows about it. For more information on how to work with agents check out my Agent Magnet program. Bob Liz and Tim,
There is no way to know the exact range of those expected foreclosure houses. They are expected to be more high end that what has been over the last couple of years because of the number of Option ARMs and ARMs in general that are due to mature in the next 12-36 months. The high end opportunities should increase along with the failure rate of those notes. It is increasingly difficult to get pretty REOs at a price that you can flip them and make a profit. The REOs that need work are where the best opportunities are. My suggestion is that you work the pre-foreclosure market aggressively and get them as a short sale rather than as an REO. Although they tend to be a lot of work, they can be very lucrative. When you work pre-foreclosures you will find all types of deal opportunities. They are not all pure short sales. I am working one now that will be extremely profitable and I am able to do it without a short sale even though I found it through the foreclosure notices. I also suggest that you develop a very active relationship with as many real estate agents as you can. They know about the deals earlier than anyone else and you may be able to “steal” and REO before anyone else knows about it. For more information on how to work with agents check out my Agent Magnet program.

Bob

]]> By: 7.3 Million Mortgages Past Due | Thomas Stalker's Blog http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/comment-page-1/#comment-259 7.3 Million Mortgages Past Due | Thomas Stalker's Blog Tue, 04 May 2010 02:29:40 +0000 http://www.rewealthcoach.com/?p=604#comment-259 [...] foreclosed.  According to LPS over 12% of the active loans in the U.S. are now delinquent or… Click here to read the rest of this story Arizona and Florida Release Hardest Hit Fund Plans Florida and Arizona are among the hardest hit [...] [...] foreclosed.  According to LPS over 12% of the active loans in the U.S. are now delinquent or… Click here to read the rest of this story Arizona and Florida Release Hardest Hit Fund Plans Florida and Arizona are among the hardest hit [...]

]]> By: 7.3 Million Mortgages Past Due | Thomas Stalker's Blog http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/comment-page-1/#comment-258 7.3 Million Mortgages Past Due | Thomas Stalker's Blog Tue, 04 May 2010 02:25:18 +0000 http://www.rewealthcoach.com/?p=604#comment-258 [...] foreclosed.  According to LPS over 12% of the active loans in the U.S. are now delinquent or… Click here to read the rest of this story Arizona and Florida Release Hardest Hit Fund Plans Florida and Arizona are among the hardest hit [...] [...] foreclosed.  According to LPS over 12% of the active loans in the U.S. are now delinquent or… Click here to read the rest of this story Arizona and Florida Release Hardest Hit Fund Plans Florida and Arizona are among the hardest hit [...]

]]> By: Cecilia Diaz http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/comment-page-1/#comment-255 Cecilia Diaz Tue, 04 May 2010 01:15:29 +0000 http://www.rewealthcoach.com/?p=604#comment-255 Dear Bob, I personally appreciate all the information I have been provided through your e-letters. Thank you once again, and let us keep on going to the top. by helping people under these circumstances. Best, Cecil8ia Dear Bob,
I personally appreciate all the information I have been provided through your e-letters. Thank you once again, and let us keep on going to the top. by helping people under these circumstances.
Best,
Cecil8ia

]]> By: Tim Silvers http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/comment-page-1/#comment-253 Tim Silvers Tue, 04 May 2010 00:03:44 +0000 http://www.rewealthcoach.com/?p=604#comment-253 Bob, I'd like to know the same information as Liz. I've been working on REO's in south FL and all of my cash offers are getting ignored. Banks are selling REO's for close to adjusted retail value (i.e., approx. 70-80% of pre-bust market values). I'm consistently being told by Realtors that there is no room for an investment flip in any price range REO because the bank will either wait it out OR the market is good enough that people are beginning to purchase. Bob, I’d like to know the same information as Liz. I’ve been working on REO’s in south FL and all of my cash offers are getting ignored. Banks are selling REO’s for close to adjusted retail value (i.e., approx. 70-80% of pre-bust market values). I’m consistently being told by Realtors that there is no room for an investment flip in any price range REO because the bank will either wait it out OR the market is good enough that people are beginning to purchase.

]]> By: Liz Townley http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/comment-page-1/#comment-251 Liz Townley Mon, 03 May 2010 22:14:42 +0000 http://www.rewealthcoach.com/?p=604#comment-251 Bob, what is the estimated value of these homes? Do you know if they are mostly high end? Just curious, a co-realtor told me now there are a flux of high end properties and all the stuff under 250K is done with. Bob, what is the estimated value of these homes? Do you know if they are mostly high end? Just curious, a co-realtor told me now there are a flux of high end properties and all the stuff under 250K is done with.

]]> By: Tweets that mention New blog posting, Past Due: 7.3 Million Mortgages - -- Topsy.com http://www.rewealthcoach.com/2010/05/03/past-due-7-3-million-mortgages/comment-page-1/#comment-248 Tweets that mention New blog posting, Past Due: 7.3 Million Mortgages - -- Topsy.com Mon, 03 May 2010 21:20:44 +0000 http://www.rewealthcoach.com/?p=604#comment-248 [...] This post was mentioned on Twitter by Bob Massey. Bob Massey said: New blog posting, Past Due: 7.3 Million Mortgages - http://tinyurl.com/25u6nuw [...] [...] This post was mentioned on Twitter by Bob Massey. Bob Massey said: New blog posting, Past Due: 7.3 Million Mortgages – http://tinyurl.com/25u6nuw [...]

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