CLOSE YOUR TRANSACTIONS WITH EASE

Happy Holidays to All,

This has been a challenging year in getting most residential and commercial deals done in an efficient manner.  Being apart of a strong network of honest lending firms, I have a somewhat solution for your lending needs for both residential and commercial needs.

I work closely with a firm which will provide reality answers to realistic scenarios.  If you are having challenging times getting transactions funded, this maybe your answer, without shopping each deal one at a time. This is an opportunity for you to submit your commercial loans with ease; while allowing you to maximize your revenue potential.  We are able to offer over 8,100 different loan program options with the use of SNAP our proprietary software to process your loans.  These multiple options allow you to submit a loan once, with one lender, which eliminates the need to shop multiple lenders.  This option provides simplicity to the submittal process and provides more choices for you and your clients.

With this automated system, we can get you and your clients’ conditional approval or an underwriting decision with in 8 business hours of submitting your loan package.  My goal is to make things simpler for the 2009 for you and your clients.  For more information please contact me via email mmcommercialdeals@gmail.com or michael.mosely@alltrustrealestate.com  let’s make next year a successful one, with this system I will guarantee you and your clients will be satisfied with my services. 

From my desk to yours I am wishing all HAPPY AND SAFE HOLIDAYS….

What's behind curtain no.1

I find it rather disturbing when our top executives, politicians and other top officials try to sugar coat critical issues. With that said, I ran across an article which explains the so called modification program, what’s very interesting is; when this program was initiated, it was intended to help those struggling with their current over priced mortgages.  The program was designed to prevent foreclosures and lower rates.  “Well, here we have the old bait and switch again". Of course it’s nothing new since the announcement of this program, but I would like to know who is really calling the shots, is it the banks, or the government? How can the banks say we will do what want, when the government is the author of the program?

The last thing that lenders want to do is forgive debt. Last month, executives from the four biggest mortgage servicers testified before the House Financial Services Committee, and all of them made it clear that they would exhaust all loan-workout options before considering debt forgiveness, which in banker lingo is called "principal reduction."

An executive for Bank of America told the committee that his bank would consider debt forgiveness for people who already are in the process of foreclosure. A Wells Fargo executive, Mary Coffin, said, "We have found that the same affordability can be reached through a 2 (percent) to 3 percent interest rate reduction and term extension, as can be reached through a 25 (percent) to 30 percent principal reduction."

In other words, Wells would rather reduce the interest rate for five years, and extend a 30-year loan into a 40-year loan, rather than forgive some of the debt.

If a lender can be persuaded to participate in Hope for Homeowners, here's how it would work: The lender would forgive all the debt over 90 percent of the home's currently appraised value, and allow the homeowner to refinance with an FHA-insured mortgage.

For example, let's say someone owes $125,000 on a house that has lost value and is now worth $100,000. The owner can't afford the higher payments because of a rate adjustment. The lender would forgive $35,000 of the debt, allowing the owner to refinance with another lender for $90,000. That loan would be insured by the FHA, and would have an upfront FHA insurance premium of about $2,700. In most cases, that $2,700 would come out of the hide of the old lender, on top of the $35,000 in debt forgiveness. Faced with these figures, some lenders might figure that it might be cheaper to foreclose.

Still Need Help.....

Will this new bail out program help you the average citizen? Or was it design to continue bailing out the same banks and investors etc.etc.etc.  I was reading a piece about a gaping hole which remains a mystery in the bail out. Under the new bail out bill; it failed to implement any type of down payment assistant (DPA) for the first time home buyer or others who may want to purchase a home.  You would think if our government was genuinely concerned about all citizens, they would have come up with revised programs for qualified buyers.  In my opinion this bail out wasn’t designed for consumers, more or less it was about saving their buddies bank accounts, hedge funds, and certain political advancements. Many have no clue on the importance of real estate, it’s very vital to our economy.  No jobs, no real estate movement,  Inflation on the rise no real estate movement; and with all of the down payment assistant programs getting tossed like yesterdays trash, I’m afraid we are going to still witness a weak real estate market if incentives and/or assistance programs aren’t implemented back into the consumers main stream.  To clarify assistance programs so many won’t misinterpret this classification, these were programs designed by private companies to help with the purchase of a home.

 Before these programs disappeared Oct 1^st of this year, programs such as the (GAP) Grant America Program, Acorn and Nehemiah  just to name a few;  were created to assist consumers with assistance with their down payment or closing cost if the consumer was short of funds; the granted amount was 3% of the loan amount.  These programs were not loans but rather gift funds with limited stipulations which were offered by private entities.  As we look closer, interest rates are rising rather quickly, as of today for a 30 year fix rate you are looking at 6.5% vs. a week ago rates were hovering around the 5.98% range.  Suggesting a hand out is not the language I’m trying to use, I’m merely suggesting bringing back the programs which worked well with FHA, so our first time home buyers and others can purchase homes to soften our inventory overload.

 Having the amount of homes just sitting there, is equivalent to having an aircraft grounded. Without that aircraft flying, carriers will not make money; it’s useless to the fleet if they can not get this craft back into active service. Let’s see what happens in the next couple of weeks, I wonder how long will it take for these politicians to realize something needs to be done about this and how urgently they need to address this sinking ship.   

 http://www.mortgagemag.com/news/2008/1001/

Econmic Crises Opinion

Many are going back and forth with the finger pointing blame game; regarding our economical and mortgage break down.  I find it ironic when a positive issue surfaces everyone is fighting to be the author, yet when a negative situation arises no one wants  admit to blame.  I entered mortgage industry October 18, 2000.  It was the happiest day of my life, having the privilege of helping others with their dreams and goals had me on top of the world. What I later came to know was some agents were not too concerned about quality but more interested in quantity.  I have never witnessed greed like this in my life.  My broker at the time did not care about how you got a deal done; points were the limit - CHARGE IT UP!  I made a decision to remain with this particular broker but not for those reasons.  I chose to stay to learn more about the business and to gain hands-on experience on real estate and language.  Once I accomplished that, I left.  I worked for other brokers who shared that same disturbing concept; it’s not about quality but quantity. Finally, I found a broker who had the same ethics as I; treat all customers with integrity and respect.  Extend that to all and referrals will soon come, and they did.  I have been with this broker for the last 3 years and proud to say we have never had a loan to come back and bite us in the end.

 We are in theses crises because of some real estate brokers forgot the words FUDICARY DUTIES! Some real estate sales agents and mortgage consultants forgot the words, DUE DILLIGANCE. We had these so call professionals who entered the market with the pure intent to gouge clients in points to gain higher commissions.  They knowingly placed their clients in unaffordable mortgages and placing them  in danger of loosing their homes from day one.  Some mortgage companies had their own chop shops altering documents so loans could close, “just to meet quotas”.  I am appalled to hear and see how this has shifted over to the consumer’s fault; of course there is a small percentile, who knew they could not afford a mortgage but assumed a mortgage anyway. After working in customer service for over 25 years, I’ve literally seen customer service practices vanish and highway robbery took over like wild fire.

 Being in this business we all have a moral obligation to learn from this mess; from our government, financial advisors to crooked mortgage consultants and sales persons, brokers, banks and Wall Street.  These are the main players who created these deceptive practices.  Most 100% and option arm products which were offered should have been on A paper only, not subprime. If you are disagreeing with this statement then please comment on why are AIG and Meryl Lynch and others are in dire predicaments including wall street? These companies and institutions have been around for decades.  This all came with the “changes of the guards”.  Who are the guards you ask? Leave me your email address and I will tell you.  The bottom line is we all need to be our brother’s keeper.  We all need to keep in mind how we would we feel if it were our family members being cheated and/or robbed out of their life savings.  Of course this only applies to the ones who have morals.

 http://www.cbsnews.com/video/watch/?id=4511476n

http://www.nationalmortgagenews.com/washington/

Stock Market down/ investor opportunity.

I would like speak on an opportunity which will maximize your cash flow within a short period of time. I’ve came across an offering which is unique and benefiting to you the investor. The proposed term on the project is approximately 14 months, you can earn 25% on cash or cash flow- monthly is based on 18% annual interest. 

 A little about the project, Lima Peru is one of the fastest growing cities in South America.  This country has out performed and still out performing most well known countries, including the United States, the country has a 0% deficit which is very attractive to investors and business ventures such as ours. Our company purchases land, and partners with others to build condominium complexes and other developments, the loan you make will be a recourse agreement, reducing the risk - with high interest, keep in mind any business opportunity has risk, but this opportunity is backed by sound business practices, making it less risky.  These properties are being built in prime locations with pre-sold tenancy as well.

 The interest is paid out in two ways; both of them preferred to clients.  You get an 18% annual preferred return, paid in monthly checks or receive 25% ROI after completion of the project. **NOTE** both of these are preferred returns-the project sponsor makes nothing until you the investor has recouped your returns. 

 For further information please contact me at mmcommercialdeals@gmail.com or michael.mosely@alltrustrealestate.com  I will be more than happy to assist you in getting started to maximize your monies. To learn more now! please joint our webinar presentation.

 

Has the stock market let you down?

Of course it has, but the truth is, the stock market has a long history of letting you down!  It's just more obvious this year.

You can break away from the stock market and take better control of your retirement.

Make money the same way banks and other lenders make money.

Make double digit interest!!!

JOIN OUR FREE WEBINAR TONIGHT

Date: Wednesday, October 8, 2008
Time: 7:00 PM Pacific Time - 8:00 pm, Mountain Time

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Bail Out The Regular People Please

Why is it so difficult for many to tell the truth?  Why do people in this society insist on treating others unjustly?  We are all aware of the devastation of our current economy; a fate we have not experienced since the 1930’s.  As a direct result, our highest financial institutions fail us as does our government -- “asthma pump please!”  These financial institutions and our government should have created an Amber Alert billboard.  When your monies are being lost or misappropriated lights will begin to flash followed by a illuminated message: We are SORRY but we are broke! We are SORRY for everything.  We are SORRY for not addressing serious problems in an efficient an urgent manner.  We are SORRY for not regulating Wall Street, Futures, Politicians and all other control modules.   All of these issues continue to severely affect the average 9 to 5 workers, struggling single parents, college students barely making ends meet, basically everyone. 

A great many people have lost money in these markets.  Many have lost their jobs and some, their homes too.  Some are forced to make complex decisions; having to chose paying bills over groceries, gas money over childcare, daily necessities over mortgage.  The people forced to make these decisions are unfortunately classified as REGULAR PEOPLE.  Umph!  Now this is a bit disturbing.  Let’s take a closer look at this equation.  I find it funny how people with money can insert demographics and laws, yet these are the same people who are getting away with financial capital murder.  And to make matters worse, very few are being brought up on charges.  The cliché holds true; people with money can manipulate regular people and the system AND get away with it. 

 If we, the regular people, even considered pulling anything like this in an attempt to cause financial havoc on the RICH, we would be serving 50 years to life.  Of course there are different factors which contributed to these uncertainties in our nation’s economy; however the main ingredient in this MUD PIE is greed, pure outright wicked greed.  How does one let a company wither away and yet still receive a 400 million dollars?  How can one commit fraud and still get a 30 million dollars signing bonus to accept a position as CEO at another company?  How is it that CEOs of various companies are capable of selling their stocks worth millions and leave their stockholders clinging for dear life?  I am finding out PRINCIPLES do not matter anymore.  Once upon a time this word had meaning.  If we are too set back to examine these financial crises, it is almost as if we are all in Vegas without actually being there.  It is as if we have been shooting craps for the last five years and now the HOUSE WINS! POLITICIANS, BANK EXECUTIVES, LOBBYIST, SIDE KICKS…….yes my friends we, the REGULAR PEOPLE, were taken for a ride.  Now who will do the time?   It will be the regular people.

http://www.foxbusiness.com/story/markets/economy/fed-chief-economic-pain-come/

 

Mortgage Tips

The opportunity is here for first time home buyers, even in this down turn economy.  Have we seen the bottom of home prices, good question, I would consider that to be million dollar question, which deserve a million dollar answer.  Most experts say yes with an equal number of them sayings "No." Either way the deals of a lifetime are here. Rates are holding pretty steady, even with the economy in bad shape, you really can’t complain.  Today’s rates are holding at 6.09% for a 30 year fixed conventional loan, 5.77% for a 15 year fix, 6.02% for a 5/1 ARM. The 5/1 ARM is adjustable after 5 years, the first 5 years are a fixed rate, I recommend if you are choose a program like this,  start researching refinance rates  on the 4th year (“Think Ahead”).   The benefits of buying now are pretty simple;  homes are a lot cheaper now, qualify for a FHA home loan with a minimum credit score of 580 and it’s the perfect time to purchase that investment property you always wanted for your investment portfolio.

 

When choosing a mortgage program, choose the one which is right for you, have your loan consultant or broker explain the differences, among the many programs that are out there.  A good loan consultant always asks a lot of questions from their clients, such questions as; how long are you planning to be in your home? Is this an investment property or primary property? How much down payment will be used? Often the normal down payment is 10% on a primary property and varies 15 to 20% for an investment property.  However these are examples of what a loan consultant should be asking; without gathering these important facts, it could cause serious consequences in the long term.  With that said, stay away from promises, if it’s sounds to good to be true, then remember you as the consumer need to start your due diligence process in researching the facts.  It’s nearly impossible to quote or promise a rate to a potential borrower, without the pre-qualification process in place.  Remember this purchase will be yours for at least 10-20 years of your life; make sure you protect yourself, if you do not know! then don’t sign.

For futher tips or information please email to mmcommercialdeals@gmail.com  or michael.mosely@alltrustrealestate.com

http://www.bankrate.com/

http://www.foxbusiness.com/story/markets/senate-passes-b-bailout/