Legal Details You Need To Know About REO

By Robin Wardzala With the housing slump, followed by the recent subprime market meltdown leaving a flood of foreclosures in its wake, lenders, brokers and agents have tried to rebound with real estate-owned (REO) properties. But breaking into the distressed property or REO market is difficult unless you know the ropes – and the competition for foreclosures, today, is fierce.... [Read more]

How Do I Become an REO Agent?

By Brian Anthony As a top producing REO agent in our marketplace, I often get asked the same REO questions repeatedly. I thought I would answer them for all of those agents looking to become a REO agent. REO Agent FAQ 1. HELP! Where Do I Start? The first thing you need to do is get a good, up to date REO bank list to contact. This step is crucial! If you have a bad REO bank list,... [Read more]

Check Out Energy Rebates

EnergyStar.gov –  Check Out Energy Rebates This is a government site that offers lots of energy saving tips as well as explains what energy saving grants or credits might be available.   Powered By WP Footer Read More →

Foreclosure Trends Newsletter

Here is the latest issue of my foreclosure trends newsletter.  As you can see, the trend is not our friend, in the sense that the housing market has not recovered.  Until jobs come back and people are employed and feel safe in their employment, they will tend to avoid making a committment. ForeclosureTrends.pdf   Powered By WP Footer Read More →

Foreclosed Property Coupon-10% off

When you buy a foreclosed with me as your agent, I will be happy to sign you up for a coupon from Lowes.   It entitles you to 10% off, up to a predetermined purchase amount.  Currently I believe it 10% off of up to a $10,000 purchase.  Of course, this amount and the coupon’s terms and conditions are subject to change by Lowes at anytime. Besides Lowes, RE/MAX has exclusive... [Read more]

Twin Cities Foreclosure Trends-From our MLS & Realty Trac

Besides the board of realtor sites:  http://theThing.mplsrealtor.com and market data posted elsewhere at http://www.MplsRealtor.com I have a subscription to Realty Trac.  My subscription gives me additional data about foreclosures and trends within certain zip codes.  This is in addition to my daily subscription to Finance & Commerce (a business newspaper that prints all the... [Read more]

Real Estate Information

These are a couple of my newsletters that have a ton of valuable information. Go check them out. Foreclosure Market Trends Newsletter http://www.realtytrac.com/MarketTrends/NewsLetter.aspx?guid=131bd355-1b69-4bd1-99cd-2f0c9a936810 Real Estate Cyber Space Tips http://www.REcyber.com/cybertips/r11627   Powered By WP Footer Read More →

Understanding HAFA-What Is It & How It Works

This explains what the HAFA is and how it might work for you. This might work for people that are in distress and would like to try and avoid a foreclosure. Here is a link for additional information http://www.CDPE.com/hafa I work with homeowners who need help at this difficult time-let me know what I can do for you.   Powered By WP Footer Read More →

Owner Financing – The Foreclosure Process

By Craig Meriwether One of the great parts of the owner finance home sale is the opportunity to work with the buyer in the case of financial problems. By creating a solution that works for both parties a home owner is more than likely to stay in the house and the loan holder will continue to receive monthly payments. If a solution cannot be created then unfortunately foreclosure might... [Read more]

What Does REO Mean When Buying Real Estate For Sale?

What Does REO Mean When Buying Real Estate For Sale?By Simon Volkov As a property investor, I am often asked what does REO mean when buying real estate for sale? An acronym for ‘real estate owned’, REO refers to foreclosure property repossessed by mortgage lenders. When foreclosure real estate does not sell through public auction it returned to the lender, who in turn... [Read more]

Outstanding Video-An Inspiration To All-Be The Best You Can Be!

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Twin Cities Home buyer book

Thinking about buying a home but don’t know where to start? Why not start by reading the home buyer hand book that we have provided below. It is a great place to start to get the information you need. When you’re ready, we would love to help you find and finance a new home. MN Home buyers handbook View more documents from John Mazzara.   Powered By WP Footer Read More →

The Short Sale Process For A Seller

This ppt. will explain the basics involved in a short sale. Today, lenders are starting to put in place systems that will make the short sale process work smoother. This presentation covers what is generally involved. The short sale View more presentations from John Mazzara.   Powered By WP Footer Read More →

Grant Available In MN For Foreclosed Homeowners

I’ve just learned of a grant of up to $3500 that is available for people who have lost their home to a foreclosure and need some cash to help with the transition of moving on. This is only available to metro area residents in the Twin Cities. The Target Foundation put up most of the funds and all monies are available on a first come-first served basis and is for relocation... [Read more]

How A FEW Are Profiting HUGELY From A Government Sweetheart Deal

If you haven’t been getting much success with a modification and wonder why-maybe this video will help explain things.  As an agent who works really hard to keep people in their homes FIRST, I found this very upsetting.  I can tell you many many people who would have stayed in their homes, albeit at a reduced payment if they had some payment relief.  Instead, lenders foreclosed... [Read more]

What Happens When They Come For YOU

While this posts title is just a play on the TV show COPS, it is possible that if you sell a home short or have a foreclosure that results in a loss, that the lender could pursue a deficiency judgement.  In MN, they are doing this more often.  The LAST thing I am giving anyone is tax or legal advice.  Just be aware of the fact in MN, lenders can choose how they foreclosure.  A... [Read more]

Items Necessary to Submit a Short Sale Package

Just because you owe more than your home is worth does not mean that you will be eligible to do a short sale.  The key is being able to show that you qualify based on a acceptable hardship.  The lender needs you to explain your situation in a hardship letter.  With that, there are items they will need.  These items include the following:  A financial statement showing what your... [Read more]

Minnesota Deficiency Judgements Due To Mortgage Defaults Appear To Be Increasing!! Be Careful!

I recently read an article about the banks pursuing judgements after a short sale or foreclosure. The Minnesota home ownership center is FANTASTIC. They have lots of great information. Here is the link to their article: Minnesota Home Ownership Center: Sued – After A Foreclosure   Powered By WP Footer Read More →

Open Source Documents-Unbelievable Resources-Find YOUR topic of Interest

If you’ve never visited http://www.Archive.org, you are missing a wonderful site.  From this site, you will find many resources that are out of copyright and you can download and use them as you wish.  You will find all the classics and some fun things as well.  Just for fun, I have the download of a book called “Little Gardens” which is a book about setting up... [Read more]

FHA Loss Mitigation Options For Those With FHA Loans

Here is the latest FHA Mortgagee letter that explains what options are available for people in default with their FHA mortgage. There are options, you need to explore them if you are in danger of losing your home. FHA Loss Mitigation   Powered By WP Footer Read More →

Sell Your Home Faster-Learn The Home Selling Secrets Of Successful Sellers

Here is a special report that outlines over 450 ideas on how to sell your home faster.  This report is just one of the many home buyer, home seller, and investor reports that I can make available to you.  Read this report and call me to arrange a time to see how I can help.  Download Now   Powered By WP Footer Read More →

Real Estate Investing in Rental Properties

There are many ways in which a person can make a living when it comes to real estate investing some of them carry more risks than others. It goes without saying that those that carry the greatest risks are often the very real estate investment methods with the highest potential profit but slow and steady, in many cases, wins the race. Flipping houses is in the news a lot because so... [Read more]

Pros and Cons of Flipping Houses

If you have watched countless shows on television about flipping houses and making tons of money in a very short amount of time you’ve probably thought to yourself that you could do that and possibly wondered why you haven’t. If you are considering entering into the world of real estate investing through the role of one who flips houses there are a few pros and cons that... [Read more]

Pre-Construction Real Estate Investing

If you have the heart and soul of a gambler or love extreme sports and activities such as skydiving or bungee jumping then you may be the ideal candidate for pre-construction real estate investing. Pre-construction profits are often among the highest in the industry. At the same time so are the risks. You will find the greatest highs and lows that can be found in the field of real... [Read more]

Multiple Streams of Income in Real Estate Investments

It doesn’t really matter what kind of investing you are participating in, it’s almost always a wise idea to have multiple streams of income in order to maximize your profits while spreading your risks. Even within the confines of real estate investing there are different types of investing that can help you spread your risks when markets meet turbulent times and this is... [Read more]

Managing Money During a Flip

Money management during any real estate investment venture is an essential skill. If this is your first time flipping a property it is probably more important on the first flip than any other as you need to fully realize how much things cost and how quickly those expenses can up. It is so simple for the budget on a house flip to get completely out of control. For this reason you need... [Read more]

Real Estate Investing-Everything You Need To Know!

I came across this e-book and I wanted to share it with you.  I thought the information was useful, the rolodex link in the back of the book with investor resources was incredible.  I think you will enjoy it-it is a pretty light read.  If you get all fired up and want to start looking for property, just give me a call.   Powered By WP Footer Read More →

Avoiding HUD Home Headaches: Tips On Buying HUD Foreclosures!

Bidding & Buying on Minnesota HUD homes—it seems to be the hot ticket in town. However – Remember these key points to avoid problems and advise buyers: •    Only primary residence buyers allowed in the first round of bidding. •    Determine if the home is being offered as eligible for Minnesota FHA financing: o    Has an existing FHA appraisal that must be... [Read more]

Introduction of Home Affordable Foreclosure Alternatives – Short Sale and Deed-in-Lieu of Foreclosure

This is FANTASTIC NEWS!!!  FINALLY, they are establishing minimum requirements on resolving the short sale procedural process.  Here is the link to the government news release: https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf Short Sales have been difficult to close, and these new measures are a huge step in the right direction. One major highlight: A lender must give... [Read more]

RECENT News Release: Legal Service Plans Can Benefit Homeowners Facing Foreclosure

Pre-paid legal recently had a news release that explains how their service may benefit homeowners who are in distress and facing a foreclosure. We sell the PPD Pre-Paid Legal service plan at our website https://www.prepaidlegal.com/Multisite/Multisite?site=hub&assoc=mazzara You probably want to look at the family plans unless you are a small business. You can visit the site, watch... [Read more]

Extension And Expansion Of Home Buyer Credit-4/30/2010

A Big WOW!!  The credit has been expanded to include homeowners who have owned their home for the past 5 years. No longer do you need to be a first time buyer.  The dollar limit is $8000 for first time buyers and $6500 for move up buyers.  This GREAT news.  Combine this with 50 year lows in interest rates, and you’d be crazy not to consider making a move.  If you feel secure... [Read more]

Why Foreclosure Is Often Preferred By The Loan Servicer Instead Of Offering A Loan Modification

Have you ever wondered why a foreclosure occurs when a better solution might have been a modification?  Would you like to read the facts and figures and see how mortgages are bundled, sold and serviced?  You will soon see it is isn’t pretty, we are in the midst of a crisis, and it is likely to get worse before it gets better.  That being said, you can probably guess why-it’s... [Read more]

Home Buyer Tax Credit Information Update

It’s now official!! The tax credit has been extended and expanded. YOU NEED TO HURRY! You now have until the end of April 2010. The following summary of the credit is provided by the National Association Of Realtors. The following two documents cover the changes in the new law. Now get out there and buy a home!! NAR FAQ: Homebuyer Tax Credit Changes NAR Issue Brief: Homebuyer... [Read more]

Minnesota Real Estate Newsletter Gives Access To Great Computer & Life Tips

I maintain a number of real estate sites, blogs, and newsletters. One newsletter that provides a number of computer tips to help you function better with a computer is http://www.REcyber.com/cybertips/r11627 The site is full of cyber space tricks and great places to visit. We have link to this site on the list of MN Real Estate links, but I wanted to highlight this particular newsletter... [Read more]