Banks and financial institutions operate on due dates, and maximizing profits, not on the principal of increasing homeowner’s equity.
May 18, 2007 (Press Release) --
The Truth in Reno Real Estate Prices
(RENO, NV) Banks and financial institutions operate on due dates, and maximizing profits, not on the principal of increasing homeowner’s equity. Homeowners and investors, who miss one or more payments and are then classified late on payments, and become targets for financial sharks.
The wait and see syndrome is a sure sign of financial problems. The investor claims they will “wait and see” what happens. One or two missed payments are thirty to sixty days in arrears. Financial intuitions are already preparing legal action, and legally adding fees to the loan.
Relying on friends, accountants, or attorneys for advice may not be the best idea. Only individuals trained in financial planning in real estate, with a specialty in foreclosures understand the cycle of stress, resource management, and how to resolve pending foreclosure proceedings.
Lenders are in business to make money, not generate financial wealth for individual investors. Lenders have the right to add additional fees to challenged mortgages for servicing delinquent accounts. One financial process is to have the borrower sign a legal document designed to prevent foreclosure, a DEED IN LIEU. Borrowers should never sign a DEED IN LIEU, believing that the lender is doing the borrower a favor, so that a bankruptcy action does not appear on the borrower’s credit record. The DEED IN LIEU allows the lender to instigate a VOLUNTARILY FORCECLOSE. One thing to keep in mind is that lenders have the legal staffs and foreclosure specialists to efficiently transfer resources from the borrower to the lender. Many times a realtor can help before foreclosure begins.
Realtors are interested in under priced listings that will close quickly. Realtors are only paid on the close of escrow, and the motivation factor is how long before they can deposit the commission check. Listing with a realtor may or may not result in the sale of a property. Many times, the buyers offer less than the loan amount plus real estate commission, resulting in the buyer paying off the mortgage through the sale of other assets.
The complete article can be found at http://greathomes-greatprices.com
© Intellimedia Group, 2007. All Rights Reserved, Used by Permission
(RENO, NV) Banks and financial institutions operate on due dates, and maximizing profits, not on the principal of increasing homeowner’s equity. Homeowners and investors, who miss one or more payments and are then classified late on payments, and become targets for financial sharks.
The wait and see syndrome is a sure sign of financial problems. The investor claims they will “wait and see” what happens. One or two missed payments are thirty to sixty days in arrears. Financial intuitions are already preparing legal action, and legally adding fees to the loan.
Relying on friends, accountants, or attorneys for advice may not be the best idea. Only individuals trained in financial planning in real estate, with a specialty in foreclosures understand the cycle of stress, resource management, and how to resolve pending foreclosure proceedings.
Lenders are in business to make money, not generate financial wealth for individual investors. Lenders have the right to add additional fees to challenged mortgages for servicing delinquent accounts. One financial process is to have the borrower sign a legal document designed to prevent foreclosure, a DEED IN LIEU. Borrowers should never sign a DEED IN LIEU, believing that the lender is doing the borrower a favor, so that a bankruptcy action does not appear on the borrower’s credit record. The DEED IN LIEU allows the lender to instigate a VOLUNTARILY FORCECLOSE. One thing to keep in mind is that lenders have the legal staffs and foreclosure specialists to efficiently transfer resources from the borrower to the lender. Many times a realtor can help before foreclosure begins.
Realtors are interested in under priced listings that will close quickly. Realtors are only paid on the close of escrow, and the motivation factor is how long before they can deposit the commission check. Listing with a realtor may or may not result in the sale of a property. Many times, the buyers offer less than the loan amount plus real estate commission, resulting in the buyer paying off the mortgage through the sale of other assets.
The complete article can be found at http://greathomes-greatprices.com
© Intellimedia Group, 2007. All Rights Reserved, Used by Permission
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