Distressed Commercial Short Sale Investing

CNN Las Vegas Stippers Go Mobil, Pole and All. Imagine my surprise finding my old real estate marketing buddy Larry Beard and his new career move.

2010-11-18T06:17:00.000-08:00

Imagine my surprise after doing a Google search on my old Real Estate
Investment Marketing Guy in Las Vegas....

I guess some would say he's moved up and on-ward, since he's being
interviewed by CNN, still it does not look real good for real estate if
this is what Larry's doing now. Maybe it's just a part-time gig.

Larry if you read this Give Al Boek A Call would ya.

Kaching Kaching, 10,000 Churches and Causes, 7 Million Twitter and Facebook Followers Now Being Invited...HELLO!!!

2010-09-15T07:24:00.000-07:00

Earl Allen Boek Attention; All International and National

Internet Marketers!

1/3 rd to 1/2 of all recruiting, web-shopping and fundraising
happens in the next 90 days. What do YOU have that's
better than that? http://kachingkachingfundraisers.blogspot.com/

KACHING KACHING FUNDRAISERS

kachingkachingfundraisers.blogspot.com

Al Boek, that's me, is a 15 year internet marketing pioneer who has helped pioneer technology on the internet you would recognize. Just like I recognized the potential, make that huge potential of using Kaching Kaching's Viral, SUPER STORES Shopping ISO's for Special Causes Fundraisers.

24 minutes ago · Comment · · View Feedback (1)Hide Feedback (1) · Share

- Earl Allen Boek
  check out our fundrasing Vision,
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Kaching Kaching WWW Fundraisers Joins Causes Exchange Link Here & Now!

2010-09-14T01:49:00.000-07:00

How to Use Causes for Your Year-End Fundraising Appeal

Posted by Matt Mahan on September 9th, 2010

Causes Senior Nonprofit Coordinator, Susan Gordon, was recently featured on NTEN (the Nonprofit Technology Network)’s blog.
Planning for the year-end giving season is in full swing throughout the nonprofit sector. In 2009, giving in December alone brought in about 1/3 of the fundraising dollars to nonprofits. And in 2010, online giving is expected to bring in more donations than ever, after having seen a 46% increase in online revenue between 2008 and 2009.
At Causes, the application on Facebook, we’re releasing huge improvements to our fundraising and communications tools just in time for the year-end giving season. Nonprofits have already raised over $26 million using Causes — and to start the giving season off, we recently announced that your causes will soon be able to publish to members’ News Feeds (like a Fan Page can now). Once you’ve built a vibrant online community, the end of the year is the perfect time to make a fundraising appeal.
Fundraising Projects
Facebook users are more motivated to donate to specific projects rather than general fundraising appeals. Causes has just updated their Fundraising Projects feature so nonprofits can effectively do project-based fundraising campaigns through Facebook.
Using this tool, the National Wildlife Federation has raised over $100,000 for their oil spill work in the Gulf Coast. The Humane Society of the United States raised $20,000 in 6 days, all through their cause, to fund a team of journalists documenting the seal slaughter in Canada. And Camfed raised $4,500 to build a roof on a school in Malawi, then turned around and funded another $3,386 project to give shoes to schoolgirls in Zimbabwe.
The new Fundraising Projects have a Google Maps integration…
Read the rest of the post at: http://www.nten.org/blog/2010/09/03/how-use-causes-your-yearend-fundraising-appeal

Add a comment on this post.

Last Call for Changing your Cause’s Name!

Posted by Susan Gordon on September 3rd, 2010

Exciting improvements to your causes are almost here! You will soon be able to:

Read cause bulletins right in your News Feed, the first page you see when you sign into Facebook.
Search for causes in Facebook. Before, your cause was searchable in the Causes application but not the main Facebook search. Not anymore!
Feature your causes in the Likes and Interests section of your Facebook profile.

These improvements also mean your cause’s name is no longer able to change. If you are the administrator of a cause, your cause’s name will be permanent starting today. If you want to change it, go to the “Admin Center” of the cause you are the administrator of, then go to “Basic Info.” * Get started at http://apps.facebook.com/causes/causes/your

We’re looking forward to seeing the inspiring things you do with your causes after these improvements.

See all 3 comments on this post.

4 Days Left to Win a Free Trip to Africa

Posted by Jeremy Bogen The Global Fund to Fight AIDS Tuberculosis and Malaria on August 31st, 2010

If you can get 42 friends to sign this petition, YOU could go to Africa with the Global Fund to Fight AIDS, Tuberculosis, and Malaria…for free. We at The Global Fund to Fight AIDS, Tuberculosis, and Malaria, one of the largest and most reputable international nonprofits dedicated to solving these issues, have just announced that we will take one person from Causes with us on our next trip to Lesotho in southern Africa to see the front lines of the fight against HIV. Right now, Valentin Poeta is in the lead with just 42 signatures collected. This is a rare chance for you to see the life-saving work undertaken by those in the field and explore a beautiful country few people get to visit.
Do you want a free trip to Africa with the Global Fund? We’ll pick the person who gathers the most support for the campaign. Here is what you need to do:

Click on http://www.causes.com/fighthiv and click invite your friends (or use this link: http://apps.facebook.com/causes/petitions/466/invite?step=0 ) and invite as many of your friends to sign up as possible (be sure to publish the link on your profile too).
Gather support elsewhere. Write to blogs you know, persuade anyone that can reach a big audience to promote the campaign, host promotional events at your local club. Persuade employees to sign up. Really innovative promotional ideas will go down well here.
Send an e-mail to socialmedia@theglobalfund.org telling us who you are, how many people you have recruited and what you did to promote the campaign.

At 5:59am, EDT, Sept 3rd, competition entries close and we will contact the winner the following day.
*Quick note: For legal reasons, this competition is only open to residents of Denmark, France, Germany, Ireland, Norway, Sweden, The Netherlands, The United States and the United Kingdom. You must be at least 21 years old as of the date of entry. Full terms and conditions are available here: http://www.theglobalfund.org/documents/bornhivfree/bornhivfree_contest_officialrules.pdf
Thanks to everyone who joins us in the fight to end HIV.

See all 3 comments on this post.

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KACHING KACHING, Inc Sees Growth Right Out Of The Chute _Green Earl

2010-08-26T15:15:00.000-07:00

Thursday, August 26, 2010

KACHING KACHING, Inc Sees Growth Right Out Of The Chute _Green Earl

KACHING KACHING, Inc. Announces Accelerated Growth of Proprietary Online Webstores
Categories: Press Release

Written By: Vardaan

KACHING KACHING, Inc. Announces Accelerated Growth of Proprietary Online Webstores

PR Newswire — August 26, 2010

HENDERSON, Nev., Aug. 26 /PRNewswire-FirstCall/ — KACHING KACHING, Inc. (www.kachingkaching.com) (OTC Bulletin Board: KCKC) announces accelerated growth in the number of licenses issued for proprietary online webstores.

KACHING KACHING, Inc. is a progressive and uniquely positioned e-commerce company offering online consumers the most recognized brand name merchandise at everyday low prices. CEO Bob McNulty said, “The users’ response to our webstores has been overwhelming. Our Grand Opening was less than two weeks ago, on August 14th, and the positive feedback we have received has generated significant interest within the industry. We recorded an immediate increase in the number of licenses requested and issued each day and we expect that number to continue to rise daily.”

Mr. McNulty further stated, “Now that our systems are fully operational, with each of our Independent Store Owners (ISOs) owning their unique webstore, fully stocked with thousands and thousands of products and with business tracking software which allows them to fully manage their business, we are attracting some of the top tier and most experienced leaders within the direct marketing industry. This presents a great opportunity for us to continue our rapid expansion and meet our projected goal of 50,000 webstores by the end of 2010.”

About KACHING KACHING, Inc.

KACHING KACHING, Inc. is the very first retail chain of online stores serving consumers on the Internet. It licenses co-branded proprietary online storefronts that can be operated by Independent Store Owners full or part- time with exponential viral growth. Each online storefront will offer millions of items and thousands of name brand products to sell at everyday low prices. Powered by superior customer service and driven by value, KACHING KACHING, Inc. provides every Independent Store Owner with the best opportunity for financial success. For more information, visit http://mykachingkaching.com/gotkaching/

About Beyond Commerce, Inc.

Beyond Commerce, Inc. is a multi-faceted company providing e-commerce solutions for high traffic web properties. We are a cutting edge media company specializing in Ad Networking, Online Advertising, Lead Generation and Local Advertising. For more information, visit http://www.beyondcommerce.com.

Safe Harbor Statement:

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting KACHING KACHING, Inc. operations, markets, products and prices and other factors discussed in the Company’s various filings with the Securities and Exchange Commission.

Contact: KACHING KACHING, Inc. Miranda Freerksen 1-702-589-7555 begin_of_the_skype_highlighting              1-702-589-7555      end_of_the_skype_highlighting Email: miranda@kachingkaching.com

SOURCE KACHING KACHING, Inc.

NOTE FROM GREEN EARL, AKA AL BOEK

Blog Visitors I cannot begin to tell you how much I am
enjoying my relationship with the leaders and management
of this sharp run company. WE have a very viable product
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As...
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any good cause membership and 50% of the commission,
up to 10% is paid directly to the VISA ATM of the
Cause or Organizers or Accountants. Perfect.

Today,
using the internet, within 5 minutes, I was
able to locate the director and founder of an
organization with over 5 million members. Would
you be able to do that with your home-corporate-
backed business? And not have to worry about any
other issues except raising capital legally and
ethically. I just heart it._Al Boek

Please check out our corporate links and event times
located below this blog post for more information.

Mr. Al Boek, Licensed Independent Store Owner

Founding Member of MDRE LLC
National Fund Raising Campaign Director
Redding, CA. 86008 530-549-4476 begin_of_the_skype_highlighting              530-549-4476      end_of_the_skype_highlighting
gotkaching@yahoo.com

My Personal Licensed Viral Shopping Store Site
http://kachingkachingstore.com/gotkaching

Corp Site Event Tab and More
http://mykachingkaching.com/gotkaching

My Face Book Profile Page
http://facebook.com/greenearl

"Numbers Don't Lie!."

"It's hard to fight "our kind of wars" without funds" _Citizen Activist

KaChing, KaChing Video - Review The Comp Plan - Pt.1

2010-08-21T18:56:00.000-07:00

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Next Bubble: $600 trillion? They Would Rather You Concentrate On The Gulf Disaster, Then This One Coming. Global Green Earl

2010-07-23T10:23:00.001-07:00

"everything from commodities options to credit swaps –
topped $604 trillion worldwide at the end of June 2009".

" To comprehend the relative magnitude of derivative
contracts globally, the CIA Factbook estimates the 2009
Gross Domestic Product of the world was just under $60 trillion.

Does anyone else here see a problem with the figures above?
_Citizen Activist

WIND MONEY

Next bubble: $600 trillion?

Cities, states, universities could sink from monster derivatives meltdown

Posted: April 19, 2010
9:40 pm Eastern
By Jerome R. Corsi
© 2010 WorldNetDaily

Bank of International Settlements in Basel, Switzerland

As interest rates begin to rise worldwide, losses in derivatives may end up bankrupting a wide range of institutions, including municipalities, state governments, major insurance companies, top investment houses, commercial banks and universities. Defaults now beginning to occur in a number of European cities prefigure what may end up being the largest financial bubble ever to burst – a bubble that today amounts to more than $600 trillion. The Bank of International Settlements in Basel, Switzerland, now estimates derivatives – the complex bets financial institutions and sophisticated institutional investors make with one another on everything from commodities options to credit swaps – topped $604 trillion worldwide at the end of June 2009. To comprehend the relative magnitude of derivative contracts globally, the CIA Factbook estimates the 2009 Gross Domestic Product of the world was just under $60 trillion. Derivative contracts, therefore, have now reached a level 10 times world GDP, meaning even a 10 percent default in derivatives would equal world GDP. The small 800-year-old town of Saint-Etienne in France has just defaulted on a $1.6 million contract owed to Deutsche Bank. The city entered into a complex currency-swap arrangement to reduce the cost of borrowing some $30 million. To cancel all 10 derivative contracts Saint-Etienne currently holds would cost the town approximately $135 million, more than six times the amount initially borrowed, largely because no bank or institutional investor would want to purchase contracts that are now on the losing side of the bet. Saint-Etienne is only one of thousands of EU municipalities that bought into derivative contracts as a way to cut the costs of municipal borrowing. (Story continues below)

A key problem with derivatives is that in the attempt to reduce costs or prevent losses, institutional investors typically accepted complex risks that carried little-understood liabilities widely disproportionate to any potential savings the derivatives contract may have initially obtained.

The hedge-fund and derivatives markets are so highly complex and technical that even many top economists and investment-banking professionals don't fully understand them.

Moreover, both the hedge-fund and the derivatives markets are almost totally unregulated, either by the U.S. government or by any other government worldwide.

But losses on derivatives are not limited to government entities.

Next bubble: $600 trillion? Cities, states, universities could sink from monster derivatives meltdown Source: http://www.wnd.com/index.php?fa=PAGE.view&pageId=143057

2010-07-21T10:32:00.000-07:00

http://patriotupdate.com/stories/read/3422/Next-bubble-600-trillion-

Harvard's billions
Obama administration economic guru Larry Summers may end up being best remembered for having destroyed almost single-handedly the Harvard University endowment fund as a result of misguided instructions he gave the fund's management during his tenure as Harvard University president from 2002 to 2006.

Summers, currently director of the White House National Economic Council, called for an aggressive investment strategy in which Harvard's endowment fund engaged in risky strategies, including derivative strategies that have burdened the nation's largest university endowment with billions of dollars in toxic assets.

As a result, the Harvard endowment, which peaked at $36.9 billion in June 2008, has since lost some 30 percent of its value, dropping to $26 billion, according to Bloomberg News.

In October 2009, Harvard University paid $497.6 million to investment banks to get out from $1.1 billion in interest-rate swaps that were intended to hedge variable-rate debt for capital projects, Bloomberg reported.
In what amounted to Harvard's biggest endowment loss in 40 years, the university also agreed to pay $425 million over the next 30 to 40 years to offset an additional $764 million in credit-swap deals gone bad.

Citing failed interest-rate swaps that forced Harvard to pay banks $1 billion just to terminate the junk contracts, Bloomberg reported the Harvard endowment's investments have become so toxic that even Summers won't explain what happened during his watch.

The Boston Globe squarely put the blame on Summers' doorstep, noting he came into office with a bold vision to expand the size of its science facilities by more than a third.

Average yearly expenditures for facilities jumped from under $150 million from 1995 to 2000 at Harvard, to $495 million from 2001 to 2005, to $644 million in 2009.

"Summers told the faculty not to think small," the Globe wrote. "Its ambitions were limited only by its imagination, he said. Harvard could always come up with more money from its 'deeply loyal fans.'"

Unfortunately, deeply loyal fans and alumni with deep pockets were not enough to bail the university out from Summers' ill-advised investment advice.

Bloomberg reported that cash-strapped Harvard recently asked Massachusetts for fast-track approval to borrow $2.5 billion.

The damage done to Harvard is not limited to plans to expand the science facility into blue-collar Allston. Now, the university is faced with slashing faculty and staff.

Last year, more than 1,600 of Harvard's staff were offered early retirement, and more than 500 accepted.
"Loyal alumni have contributed generously to stanch the bleeding," the Globe wrote, "but huge deficits remain in spite of all the reductions. Harvard will be a smaller place when the dust settles, with less educational and scholarly reach. It will employ fewer people and will contribute less to local and national prosperity."

What are derivatives?

While the hedge-fund market is small in comparison to derivatives, hedge funds in the U.S. are still a $1.5 trillion industry.

Hedge funds and derivatives share a common characteristic in that both were set up initially by professional investment advisers to assist them in managing the risk contained in institutional investment portfolios, including mutual-fund assets or pension funds that typically involved hundreds of millions of dollars.

One of the original ideas behind derivatives was the realization that professional money managers, including those in banks, investment companies and hedge funds, needed to make bets to offset the possibility of taking losses.
A popular form of derivative contracts was developed to permit one money manager to "swap" a stream of variable-interest payments with another money manager for a stream of fixed-interest payments.

The idea was to use derivative bets on interest rates to "hedge" or balance off the risks taken on interest-rate investments owned in the underlying portfolio.

If an institutional investment manager held $100 million in fixed-rate bonds, for example, to hedge the risk, should interest rates rise or fall in a manner different from projections, a purchase of a $100 million variable-interest-rate derivative could be constructed to cover the risk.

Whichever way interest rates went, one side to the swap might win and the other might lose.

The money manager losing the bet could expect to get paid on the derivative to compensate for some or all of the losses.

In the strong stock and mortgage markets experienced beginning in the historically low 1-percent interest-rate environments of 2003 through 2004, the number of hedge funds soared, just as the volume of derivative contracts soared from a mere $300 trillion in 2005 to the more than $600 trillion today.

Bloomberg reported the number of hedge funds tripled in the last decade to a record of 10,233 at the end of June 2008, according to the Chicago-based Hedge Fund Research Inc.

More than one-third of those funds could be "wiped out" in the economic downturn that began in December 2008, Bloomberg said.

The Bank of International Settlements in Basel, Switzerland, makes no estimate of how much of the $604 trillion in outstanding derivative contracts are today vulnerable to collapse.

Losses in derivatives played a major role in the bankruptcies of both AIG and Bear Stearns.

Previous stories:
Obama ally targets 401(k) dollars
Obama to meddle with your retirement account?
China warns Obama deficit spending must stop
Economist warns of president's financial 'bubble'
Ex–Treasury official: Dump dollar
Fed begins move that could sink dollar
Economist charges Obama 'manipulating' stock market
Fed says economy even worse than thought
Unstimulated! Dow plunges 300
Trillions? Get ready for quadrillion
Stimulus still can't help Wall Street
Stocks reject Obama's plans
Fed borrowing could reach $4 trillion

Jerome R. Corsi, a Harvard Ph.D., is author of the No. 1 N.Y. Times bestsellers "The Obama Nation" and "Unfit for Command." He also authored "America for Sale" and "The Late Great USA." Along with serving as WND's senior staff reporter, Corsi is a senior managing director at Gilford Securities.
Gilford Securities, founded in 1979, is a full-service boutique investment firm headquartered in NYC providing financial services to institutional and retail clients, from investment banking and equity research to retirement planning and wealth management. The views, opinions, positions or strategies of the author are his alone, and do not necessarily reflect Gilford Securities' views, opinions, positions or strategies. Gilford Securities makes no representations as to accuracy, completeness, currentness, suitability or validity of any information herein and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

Distressed Short Sale Investment...Mortgage Elimination Is Here N.J. judge rules lenders must prove they hold note before they can foreclose on a property

2010-07-16T16:39:00.000-07:00

N.J. judge rules lenders must prove they hold note before they can foreclose on a property

Thursday, 08 July 2010 08:14

BY JOE TYRRELL
NEWJERSEYNEWSROOM.COM
With mortgage loans increasingly chopped up and repackaged into other investments, lenders must be able to demonstrate they still hold the underlying note before they can foreclose on a property, a Superior Court judge has ruled.
In Atlantic City, Judge William C. Todd dismissed The Bank of New York's attempt to foreclose on a Brigantine house, saying the bank had not adequately documented that it holds the mortgage after a complex trail of financial transactions.
The ruling is not binding on other courts, but pulls New Jersey into a trend emerging in other states, what some observers have called a "borrower rebellion."
As a tide of foreclosures sweeps the nation, more American homeowners and businesses are asking courts to take a closer look at the sometimes obscure transactions that precede them. Some decisions have required banks to prove they are more than issuers or investors in securities derived from mortgages.
In August, the Kansas Supreme Court ruled that both a secondary lender and a national mortgage registration system used by many banks lacked standing in a foreclosure case.
In October, a federal court in New York expunged a foreclosure on a home in White Plains, returning it to the borrowers after finding the plaintiff bank also lacked necessary documentation for its claim.
"This ruling is definitely part of that trend, and it's the first case in New Jersey," said attorney Eric Garrabrant, who represented Roman Krywopsuk, a real-estate investor.
Besides triggering a financial crisis and a taxpayer bailout, the increasingly exotic market in mortgage-related securities has become hard for the layperson to follow, said Karen DiPrima, spokeswoman for Garrabrant's firm, Flaster/Greenberg PC.
The new ruling "is ironic, because as the transactions get more complicated, we've seen people in foreclosure get confused while trying to find out who holds their mortgages, and now banks seem to be falling into the same little web."
Krywopusk and Michael Raftogianis bought the beachfront house in Brigantine in September 2004 as an investment, Garrabrant said. They took out a mortgage of almost $1.4 million from American Home Mortgage Acceptance Inc. 
At the time, "they were buying a number of properties in the area, but then the real estate market did what it did," Garrabrant said. The two men were not alone in being unable to make payments.
According to a report today by Lender Processing Services, 12.4 percent of mortgages nationwide were delinquent or in foreclosure through May, the last month for which data was available.
New Jersey has been spared the worst of the calamity, which has particularly hit western and southern states. But in May, New Jersey crept into 10th place in foreclosure filings as listed by Realty Trac, the Irvine, Calif., firm that tracks the foreclosure market around the country.
Like others coping with the financial meltdown, though, Krywopusk and Raftogianis were surprised by the foreclosure action.
"They borrowed money from American Home Mortgage, and then The Bank of New York comes along and forecloses," Garrabrant said. "People have a right to question."
In his ruling, Todd noted the mortgage was the first stop in a lengthy series of transactions. Unbeknownst to Krywopusk and Raftogianis, after they closed on the property, their loan note kept moving.
The lender elected to out the transaction into the Mortgage Electronic Registration System, the judge said. Member lenders across the country use MERS, a private corporation, to transfer and track ownership and servicing rights in mortgage loans, and can designate it as the mortgagee of record.
For the banks, this has several advantages, according to the judge. Using MERS, they can transfer their interests in loans without publicly recording the action or incurring fees. Many of these secretive registrations also give MERS the right to assign mortgages for foreclosure.
But the judge also saw a weakness, because the system "can make it difficult for mortgagors and others to identify the individual or entity which actually controls the debt at any specific time."
According to the ruling, the mortgage defined AHMA as the lender, and referred to MERS as "a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns." AHMA transferred its interest to an investment partnership, American Home Mortgage Securities LLC.
Next, AHM Securities established a trust with Wilmington Trust and The Bank of New York. The latter served as "trustee on behalf of the holders of the notes and the insurer," that is, those who invested in the securitized mortgages. In turn, the trust former a three-party servicing agreement, with AHM Servicing and The Bank of New York.
Todd described the documents as "typical" of mortgage loan securitizations, "lengthy, complex and difficult to understand." An attachment that simply described terms used in the indenture ran to 55 pages, the judge wrote.
But what might be incomprehensible to the average person should have been clear to the financiers, according to Todd.
"It is apparent that the parties to the securitization did understand that some of the loans being securitized were evidenced by negotiable notes," the judge said. "Several provisions deal with the handling of notes in very specific terms."
When it filed for foreclosure in February 2009, The Bank of New York reported that it was already the owner of the loan note and mortgage, without mentioning any securitizations, Todd said. Krywopusk filed an answer and counterclaim three months later.
But in February, MERS said that as nominee for American Home Mortgage Acceptance, it had assigned and transferred the mortgage to the bank.
While that may have been "intended" to transfer the debt, Todd wrote, "it is now apparent that is not what occurred."
The Bank of New York needed to show that it was not merely the trustee for investors, but actually held possession of the mortgage note. But that got more difficult as the court asked for documentation.
A copy of the endorsement provided to the court, intended to show the note had been transferred to the bank, was blank, the judge wrote.
The bank then submitted a certification from AHM service. But records showing three separate servicing agreements as part of the security sales, without a loan schedule showing whether the Brigantine mortgage had been part of those sales, the judge said.
In April, the bank for the first time said it had note, Todd said. Instead, it presented another certification, this one from one of its own vice presidents with what he described as a "redacted" loan schedule. It was very heavily redacted, the judge noted dryly.
The only entry still visible "appears to list the loan at issue here," Todd said. The context was unclear, and there was no explanation for how and when the bank had found the schedule, the judge said.
Still missing, the judge wrote, were "any meaningful proofs as to the transfer or negotiation of the note" or when that occurred.
The dismissal is almost certainly not the end of the case. The Bank of New York did not respond to a request for comment. But Garrabrant acknowledged he would be "surprised" if the bank does not re-file a foreclosure action with some documentation. Even so, he said, this outcome is not a foregone conclusion.
In the meantime, that beachfront house belongs to Krywopusk and Raftogianis, Garrabrant said, "and it's for sale."

For More Information on Mortgage
Elimination Go To
http://mortgagemod101.com/r426463
go to the bottom left-hand side and click
on representative, Free to sign up. Join
and I will be notified and send you the
contract and information you'll be needing.
Al Boek guidetoshortsalewealth@yahoo.com
530-549-4476

Thanks For The Visit.

MORTGAGE ELIMNATION $150K Balances Owed and Above SFR Reservations Now Being Taken

2010-07-05T09:59:00.000-07:00

RESIDENTIAL MORTGAGE ELIMINATION NOW HERE!!
Reservations now being taken... If you owe $150K or more
on your home loan contact me at:
guidetoshortsalewealth@yahoo.com
Please put ELIMINATION in subject line...

More information you should know on MORTGAGE ELIMINATION
http://www.kcsg.com/view/full_story/7816217/article-Judge-James-L--Shumate-Orders-Halt-to-Bank-of-America-Foreclosures-in-Utah?instance=home_stories1#ixzz0qBqc1rkF

http://www.irs.gov/individuals/article/0,,id=179414,00.html

Commercial Short Sale-Coming Soon-BEWARE of Chinese Bearing Gifts and EB5 Regional Visa Investment Dollars_By Earl Allen Boek

2010-07-04T13:26:00.000-07:00

Commercial Short Sale Properties and What It Takes To Earn A Living At It.

2010-07-04T02:23:00.000-07:00

More On This Topic Soon...

What can commercial short sales do for you?

An introduction to the rewards and problems of commercial
property short sales

What you should know about how to short sale commercial
properties what some of the gurus don't tell you could hurt you

Recently more and more authors and webmasters are offering
information about commercial short sales. You hear everything
from how they are an easy certain way to make a lot of money
and can be done very fast to people stating that they take
forever and require highly specialized knowledge.

The truth is that your mileage may vary. To be successful,
become familiar with the terms used in commercial real estate.
You may be able make the big paycheck simply by flipping
the property, but both the buyer and seller have ways of
reducing or eliminating your profit if that is your only strategy.

It would be better to line up partners or hard money, close
on the property and then market it. That way the original
note holder will not be able to limit your paycheck and the
buyer will not be able to go around you. You are most likely
dealing with experienced people in both the lender and the
buyer. They may not mind you making a relatively small fee,
but there is a good chance of them trying to keep you
from making a large profit.

Mortgage Modifications, REO's, Short Sales and Distressed Commercial Properties

2010-06-23T18:50:00.000-07:00

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2010-06-22T06:36:00.000-07:00

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Will Mark-to-Market Finally Push Distress?

Last Updated: June 22, 2010 02:07pm ET

By Erika Morphy

WASHINGTON, DC—Last month, DiamondRock Hospitality acquired $69 million in debt backed by the landmark Chicago hotel Allerton from Wells Fargo. The Maryland hotel firm bought the senior mortgage loan on the 443-room hotel after its owner, Chartres Lodging Group, was unable to repay it. DiamondRock said in a news release that it expected to own fee title the hotel upon completion of the foreclosure. That plan hit a bump in the road shortly afterwards, though; according to the Wall Street Journal, a tussle broke out between it and mezzanine lender, New York-based Petra Capital Management, with both firms vying for control.

Welcome to the new face of real estate distress: after a deep recession, with the pain particularly acute in commercial real estate, there are still few viable distressed properties or notes available for sale. In short, the deals that are being done now entail investors, such as DiamondRock, chasing after defaulted borrowers to offer capital solutions.

The pickings are so slim that many investors who had originally thought they would pursue distressed opportunities are beginning to bow out, says Gary Eisenberg, a partner with Herrick, Feinstein. “Potential bidders would underwrite conservative offers and then find themselves losing by an order of magnitude,” he tells GlobeSt.com. ”There is always someone willing to pay more, it seems.”

There are a number of reasons behind this situation, starting with government policies put into place to combat the recession, explains Bruce Prigoff, Partner with Cox Castle & Nicholson. The Troubled Asset Relief Program, for instance, propped up the banks so they could continue to exist without mass closures. Also, the FDIC has placed great emphasis in selling assets through a structured transaction format in which the agency retains a majority of the ownership interests in the loans of failed institutions, coupled with substantial ultra-cheap FDIC guaranteed financing to the venture that acquires the loans in partnership with the FDIC.

Those two developments are unlikely to shift in the foreseeable future. However, a third factor— bank loan accounting rules—will change.

At the start of the crisis, loan accounting rules were changed to permit banks to carve off portions of loans in an A/B Note restructure so that the portion of the loan that could be supported by current cash flow and was not too far under water from a valuation standpoint could be held by the bank as a modified performing loan, Prigoff explains. “This allowed the banks to retain large portions of their portfolios that otherwise would have been classified as nonperforming,” he says.

Now, the Financial Accounting Standards Board is proposing a change to the accounting standards that required banks to book loans at their current market value. The rules are not an immediate panacea—they won’t go into effect until 2013 for the largest banks and 2017 for smaller institutions.

But will their eventual arrival finally lead to the traditional or typical—or, at least, market-priced—distressed deals that opportunistic investors had originally been expecting? Don’t hold your breath, Prigoff advises. “The forces weighing against clearing the cloud over the real estate market through mark-to-market accounting remain very strong…regulatory pressure to move assets of the books of the banks is rumored from time to time, but is not having great effect at this time.”

The concept that the overall economy is going to improve sufficiently to outrun the collapse in the real estate markets and allow the US government and banks to avoid massive losses is the real problem, he says. “Also, continuing to hold most of the real estate loans on the books of institutions with a low cost of capital is designed to minimize the losses that would be incurred if the assets were shifted to investors that have a high cost of capital and high yield expectations. In a market where new financing for real estate assets is scarce, the cost of capital rises dramatically when an asset is moved off a bank’s books into the hands of a third party opportunistic investor, absent bank seller subsidized financing of the purchase. Accordingly, I do not anticipate a major change in US government policy that would bring large numbers of assets to market at this time.”

Integra Realty Resources’ president and COO, Jeffrey Rogers, says more patience is required on the part of distressed investors, some of which are beginning to disband funds set up for this purpose. “Memories tend to be short, but those of us who were around during the RTC days remember that the distressed assets did not begin to flow immediately. There was a process and it took years. This real estate downturn is different in many respects, but it still takes time before distressed assets are flushed through the system,” he tells GlobeSt.com.

He also doesn’t think a change in mark-to-market accounting regulations will have much impact. “First, the proposed rules regulate when a financial institution has to recognize a loss on a loan asset. The institution is not force to sell the asset because it has lost value,” Rogers explains. “Financial institutions could still decide to keep the loans until they increase in value. They will certainly choose this option if the borrower is covering debt service.”

Comments

Posted by shortsaleprollc

Great insightful article. I have seen this trend, by my short sale
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2010-06-19T12:55:00.000-07:00

Brown Issues Warning about Rise of Short Sale Fraud | Jerry Brown 2010
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including who in California to report to if someone scams you using
any of these methods. EARL ALLEN BOEK

FORECLOSURE ASSISTANCE, LOAD MODIFICATIONS AND ELIMINATIONS

2010-06-02T05:15:00.003-07:00

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Mortgage foreclosure program on the rocks

TEXT SIZE

By: PETER HALL

The Intelligencer

The Bucks County Mortgage Foreclosure Diversion Program has worked with hundreds of clients since August but the outcome of that assistance is unclear.

A program that aims to stem the tide of residential mortgage foreclosures in Bucks County by helping homeowners negotiate with lenders has served more than a quarter of residents targeted in a foreclosure action since July.

However, a lack of funding and dedicated staff for the program have prevented the accurate tracking of outcomes in those cases and may imperil its future as foreclosure filings continue to rise.

The Bucks County Mortgage Foreclosure Diversion Program was created at the urging of legal aid and credit counseling agencies last August. In an order by President Judge Susan Devlin Scott, lenders who file foreclosure actions in Bucks County court are required to participate in mediation with homeowners.

Homeowners are notified of the program when they receive a foreclosure notice and urged to call a hotline where they are referred to legal aid and credit counseling services if they are financially eligible. Unlike Philadelphia's foreclosure diversion program, which requires both homeowners and lenders to sit down and talk, Bucks County's requires homeowners to opt in.

"I think an opt-in program is much more suited to Bucks County. I think people in Bucks will take responsibility to do it for themselves," Scott said, noting that when a person is invested in the outcome of mediation, it is more likely to succeed.

"You can't just have something handed to you. I think you have to have a commitment," Scott said.

Out of 1,992 foreclosure actions filed in Bucks County Court between July and April, 516 defendants have taken advantage of the program at least to the point of scheduling conferences with attorneys for the bank or mortgage company. In 418 cases, conferences were actually held, but the outcome of many cases is unclear.
Marie Runkle, a judicial secretary who administers the diversion program, said the volunteer mediators who oversee the negotiations are not required to report the nature of a settlement and the court orders filed to withdraw a foreclosure action do not list a reason.

Runkle, whose responsibilities include secretarial duties for the county's senior judges, said the court lacks the manpower to conclusively track the outcome of each case.

Douglas R. Praul said the court has sought a grant through Congressman Patrick Murphy's office for the last two years. The request was denied in 2009 and the court's 2010 application is still pending.
"We are trying as best as we can to give the back office support to keep this program going on a very limited budget," Praul said. "We're taking people out of their regular jobs to keep this thing going."

Praul said the court did discuss the possibility of additional funding from the county for the foreclosure diversion program.

"The decision was that we would do what we did until they could find money to support additional people," he said.

Although the program is scheduled to end at the close of the year, the timing was based on a projection that mortgage foreclosure rates would decline.

Recent data indicates the number of foreclosure filings is continuing to rise. The number has climbed from 186 in July to 231 in April with only two dips in November and January.

"If the grant doesn't come through, I don't know how much longer we can limp along," Praul said.
According to the Bucks County Sheriff's Office, in the first five months of this year, 251 homes have been sold at sheriff's sale - the ultimate result of foreclosure actions where efforts to intervene are absent or fail. In comparison, 160 homes were sold at sheriff's sale during January through May 2009.

Barbara Lyons, a Doylestown attorney who said she has served as the mediator in more than 300 cases, told the Bucks County Commissioners in a presentation last month that only 11 cases filed since July have proceeded into foreclosure. But because a homeowner has avoided foreclosure doesn't mean that they will be able to stay in their home.

YOUR HOME LOAN CAN BE MODIFIED OR EVEN ELIMINATED FIND OUT HOW HERE

"We would encourage everyone to at least see if they qualify or there is some loan modification program that can keep them in their homes," Lyons said.

But in some cases, a homeowner who is unemployed or underemployed and has no immediate prospect of increasing his or her income simply does not have the money to pay a mortgage. In those cases, lenders are willing to work out an alternative to foreclosure, Lyons said.

"Rather than the homeowners being evicted with the sheriff at the door, they're saying we'll work with you to sell the home," Lyons said. "We're seeing some very realistic and compassionate folks on the lending side of the table."

Mortgage companies will allow homeowners to stay in their homes while they list the property for sale and in some cases allow the owner to sell the property for less than the balance of the loan.

In many cases, Lyons said, even when the homeowner loses his or her home the process itself provides a degree of relief.

"Even though they don't get what they wanted, they are heard and they know they've done everything they can do," she said.

Paula Powers, a counselor with the nonprofit Credit Counseling Center in Richboro, said about half of the cases in which she has provided credit counseling for homeowners in the foreclosure diversion program have resulted in an alternative to a sheriffs sale.

Some lawyers who have represented homeowners in the mediation process said that while the program is valuable because it forces lenders to listen to homeowners, many lenders appear unwilling or unable to reach resolutions that keep homeowners in their homes.

Josh Goldblum, a Philadelphia bankruptcy attorney, said many banks aren't set up to handle the number of loan modification applications they are receiving.
"Everyone is limited by the ability of the mortgage companies to make adjustments," he said.

He added that any adjustment that the bank agrees to is voluntary.

Jeff McCullough, a Doylestown attorney, said the inability of mediators to require loan modifications makes the process one of forestalling the foreclosure.
"There is no doubt that the program is slowing down the process of foreclosure. Is it achieving permanent loan modifications? I haven't seen it yet," McCullough said.
But Ersula Cosby, a Langhorne attorney, said the goal of the program should not be to keep everyone who faces foreclosure in his or her home.

"It is delaying the process of foreclosure and it's giving people a chance to get things together and work things out. So in that sense it is helpful," she said.
Michael McKeever, a Philadelphia attorney who represents lenders in foreclosure actions, said most lenders are willing to accept a delay of three or four months to give a homeowner a second chance. McKeever said banks would prefer to avoid foreclosure because they don't want to become responsible for properties.

When homeowners lose their homes in a sheriff's sale or simply walk away, the house becomes a liability susceptible to falling into disrepair, vandalism and other illegal activity, McKeever said.

He acknowledged that loan modifications are not the most common outcome, but he added that when a homeowner does secure a modification, it is because the diversion program has simply improved communication between the parties.
"Let's have the discussion, figure out what we have in common and see if we can resolve it based on that," McKeever said.

Peter Hall can be reached at 215-345-3067 or phall@phillyBurbs.com

June 02, 2010 02:41 AM

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Distressed Residential Real Estate News, Over 8.5 Million Homes On The Market. Punt!

2010-05-28T07:19:00.001-07:00

The Rising Tide of Foreclosures 17 comments
by: Wealth Daily March 22, 2010 | about: IYR / RWR / RWX / XHB
Wealth Daily picture Wealth Daily

As sure as the two cardinals that are perched outside my window, I'm beginning to think that Lawrence Yun could use a lucky rabbit's foot or two.

Better yet, maybe he ought to consider spending the day combing through the grass in search of four-leafed clovers...

Either way, he can use all the help he can get this spring.

Because as any honest realtor will tell you, the next few months of activity are the ones that will set the tone for rest of the year. And given the ongoing free fall in housing, it is make-or-break time for the 2010 housing market.

As the NAR's chief economist is well aware, the open houses will either be on the quiet side this spring, or jammed with those buyers that Yun insists are still somewhere on the sidelines.

All I know is that after hanging his hopes on these mysterious folks for the last two years, Yun's sideline buyers have yet to materialize — even though all the king's horses and all the king's men have tried to lure them out of the woodwork.

The 2010 Housing Market Teeters on Edge

Meanwhile, the pain of those trapped by the fantasy of the bubble continues to grow as REOs and foreclosures add more supply to the bloated market.

In fact, based on data from the one of the nation's biggest mortgage servicers, nearly 7.5 million loans are in some stage of delinquency or foreclosure, while an additional one million properties are already bank-owned.

That's an 8.5 million "shadow inventory" of homes that needs to close just to clear the overhang of distressed properties alone. At present sales rates, that represents a nearly two-year supply.

Keep in mind, of course, that those are static figures. Three months from now, those figures will be even worse; 346,000 borrowers became delinquent for the first time in January, adding to the burden.

What's more, with nearly one-quarter of U.S. mortgages now "underwater," almost 11 million borrowers are now trapped in loans backed by assets, the value of which is dropping like a stone.

As a result, more and more homeowners are just simply walking away from their troubles — even when they can afford the payments.

For borrowers like Wynn Bloch, walking away was nothing more or less than a business decision, plain and simple. A retired psychologist, Bloch is a renter today after defaulting on her $385,000 2006 home purchase.

"There was not a chance that house was ever going to be worth anywhere near what my mortgage was," Bloch told the LA Times after finding out that comparable homes in her neighborhood were now selling in the $200,000s.

Hardly alone, these strategic defaults accounted for about 35% of the December 2009 defaults — up from 23% in March of 2009, according to Luigi Zingales, a professor at the University of Chicago's Booth School of Business.

Think of it as a "thanks, but no thanks" on a grand scale.

We're From the Government and We're Here to Help

As for the alphabet soup of government programs designed to stem the foreclosure tide, they might as well be trying to drain the ocean with an eye dropper. Like everything else in this bust, it is extend and pretend all the way; nearly 70% of all modified loans re-default within 12 months anyways.

Take HAMP, for instance: This is the Home Affordable Mortgage Program that was supposed to save millions of homeowners from foreclosure.

According to the U.S. Treasury, just 170,000 borrowers nationwide have had their loans permanently changed under HAMP. That's a mere 5% of the 3.4 million borrowers who are eligible under the program.

But even then, that's only half of HAMP's problems. The other is — for the most part — the majority of these "saves" have only delayed the inevitable. Take a look:
permods

Consider this: Even after receiving a permanent modification, the median HAMP borrower is still left with a debt-to-income (DTI) ratio of nearly 60%! That ratio is simply off the charts — and it's an improvement from their previous loan.

In fact, before the industry jumped the shark, a 41% DTI was considered high in a more rational time.

Just think about it... After paying the mortgage, installment debt, alimony, 2nd liens, and other fixed payments, these median borrowers are left with just $1,086.52 before taxes to pay for everything else.

That leaves about $200 a week to pay for groceries, utilities, insurance, repairs, and other expenditures.

And while that is better than the $125 a week they had before the modification, it's nowhere near enough to keep the majority of them from defaulting in the future. The numbers simply won't add up.

As a result, the foreclosure crisis will undoubtedly be with us for some time, weighing heavily on the housing market. And I haven't even brought up the prospect of the option arm debacle that will begin to bust later this year.

Meanwhile, the re-sale market continues to struggle.

Existing home sales dropped 7.2 percent in January after falling 16 percent in December — the biggest declines since comparable records began in 1999, according to figures from the National Association of Realtors.

And keep in mind that's with interest rates on a 30-year fixed rate under 5%. As the Fed pulls out of the mortgage market in the next two weeks, those rates have nowhere to go but up.

And according to my mortgage pals who have over 40 years in the business, this is the sum of all fears.

"Steve," they told me last week, "if rates go over 6%, you can stick a fork in it because at those levels, it's game over for housing." Already it is as bad as they have ever seen.

So maybe Lawrence Yun is just being optimistic when he says, "We will see weak near-term sales followed by a likely surge of existing-home sales in April, May, and June."

Personally, I think he would be better off rubbing Buddha's belly.

Disclosure: No positions
About the author: Wealth Daily
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Unique investment ideas, tips, strategies and insights from our team of editors: Brian Hicks (author of the bestselling book, Profit from the Peak), Steve Christ, Christian DeHaemer, Ian Cooper, Nick Hodge and Adam Sharp.

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o wrocnrob
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Is there a solution? The only way is to put more people into homes. Some kind of "rent-to-own" or equity participation agreement could get value from these assets, which need to bubble again. I don't understand why they feel the need to resort to 50 or 25 cents on the dollar.

It ain't a bubble till it breaks - rob
Mar 22 10:58 AM Reply
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o Malkiel
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I chose the screen name "Malkiel" as a sideways tribute to Burton Malkiel's beloved "Random Walk Down Wall Street". The book had been out forever and I found to my embarassment a couple of years ago that Mr. Malkiel was not only still alive and well, but young and chipper. I... More
I don't think buyers will find 6% a scary number if there are significant bargains out there--sales could be brisk if buyers feel like they're getting a great deal. That may be the crux of the matter--will sellers see the iceberg coming and head for the lifeboats in time?
Mar 22 11:03 AM Reply
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o tinytuna
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Now that I am retired and not earning wages' income any longer, I would like to learn more about investing income. I don't mind sharing a comment either. Seeking Alpha appears to be an excellent forum for both. Some of my own views on these topics can be found at:... More
The deal is irrelevant now and for awhile. When responsible people can feel confident about their income to meet 15 or 30 years of debt paymnets, then the market will chip away at the backlog.
Mar 22 03:30 PM Reply
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Malkiel, they are already in the lifeboat, and the ice berg is still coming. The popping bubble you will hear is the hot air and lies of our green shoots and great recovery.
Mar 22 11:24 AM Reply
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o chekurtab
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I'm a survivor of communism brainwashing (via escape from USSR) and capitalism greed (via marriage and divorce). Swear not to get trapped by another "ISM" or propaganda.
Good article. Foreclosures has been rising and still have a long way to go. Large segment of mortgage pie are adjustable mortgages that are set to adjust in 2010 all way into 2012. That can only make matters worse.
Don't forget about commercial real estate bubble. I'm afraid the real estate will take decades to recover.
Mar 22 01:58 PM Reply
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o Alex_G
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chekurtab,

I believe a large amount of those mortgages are in fact prime, conforming, 5/25's or 7/23's. Most of those will adjust to a spread to an average libor or CMT.

Mine is a perfect example: 12 month CMT plus 260 BPS. Current rate is 3.05%. Many of the loans you speak of will actually see a reduction in their payments, not an increase.

I know this doesn't stop the strategic defaulters, but it won't cause the payment shock that sub-prime borrowers experienced.
Mar 22 08:56 PM Reply
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o JIR11
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Alex_G:

I agree. Mine reset at 6 mo LIBOR + 225 bps. my current rate is 2.75%; however, I've seen 6 mo LIBOR tick up each week and is now close to 45 bps.

I think the sticker shock for people like us will come in short time, however, as inflation kicks in.
Mar 23 01:05 PM Reply
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o Alex_G
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I don't think we'll see short rates go up to where libor + 225 bps will exceed current 30 year rates in the next couple of years.
Mar 23 03:09 PM Reply
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o Griz
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Not buying the hype.
Unless we are talking about option ARM's where just about all borrowers were choosing the lowest possible payment. This particularly nasty instrument lets the borrower pay less than the full interest payment required, let alone not paying for any principle.

The pain really comes when these loans reset (possibly at a lower rate but more likely at a higher, non-teaser rate), and become fully amortizing. If the borrower was consistently paying the lowest payment possible for say 5 years, then his principle balance is probably 20 - 25% higher than when he started. Once a fully amortizing payment is required, paying a portion of the now larger principle and full interest likely at a higher rate, these borrowers could see their payments likely double or triple.

I think many of these folks are staying in their homes taking advantage of the low payments, full-well knowing that they are so far underwater that it won't be worth saving. As soon as that reset comes (both principle and interest rate), they will join those strategically defaulters as well.
Mar 23 01:40 PM Reply
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o BUZZER
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Retired laborer/ surveyor/ engineer/ musician/ entrepreneur/ venture capitalist still investing primarily in equities around the world. Born in Germany, emigrated to Canada as a child, English is my second language and I excelled at mathematics in school. Was employed for 6 years after... More
Should it surprise anyone that if you can sell furniture with no cash required for 2 years, that selling houses would be attempted using the same format?
Mar 23 02:03 PM Reply
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o Alex_G
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A lot of those option arm buyers have already defaulted. It would be interesting to see the numbers and charts updated to people current on their payments that haven't adjusted up yet to full amortization.
Mar 23 03:12 PM Reply
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There may very well be some excitement and price stabilisation in the coming months. Some markets will probably even go up. The problem is that most people are sideline buyers that are stuck in houses they can't sell for several reasons. Walk-aways may be sideline buyers, but their credit will not allow them to buy so they'll end up renting for at least 3 years. It is really up to first time buyers. The low end houses are the ones that will sell, further driving down prices on better homes. This whole thing is going to suck for a long time I'm afraid.
Mar 22 04:03 PM Reply
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o ryanclarke
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As Uncle Ben refuses to let the U.S. economy transition to a non hydrocarbon transportation model ... GM has a better chance of getting South Korea to supply the lithium it needs for the new Volt by scavaging the bathrooms of all the bipolar pill poppers in America ... I have made the reluntant... More
Unless King Obama can convince the Saudis that $50 ( and not $80 ) per drum for oil is a fair price .. the consumer in the U.S. is going to be DEAD.

The big boy banks can hide debt forever ... given the FASB rule changes in March 2009 ... but Bernanke can't print more oil ... unless he can come up with new technology that allows the Fed printing press to do as such.
Mar 22 06:14 PM Reply
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o Robert Castellano
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Dr. Robert N. Castellano, president of The Information Network (http://www.theinformationnet.com/), received a Ph.D. degree in solid state chemistry from Oxford University (England). He has had ten years experience in the field of wafer fabrication at AT&T Bell Laboratories and Stanford... More
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Why are you blaming the Saudis? Blame the speculators and the refineries who are shutting down production to increase prices.
Mar 23 10:10 AM Reply
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Retired laborer/ surveyor/ engineer/ musician/ entrepreneur/ venture capitalist still investing primarily in equities around the world. Born in Germany, emigrated to Canada as a child, English is my second language and I excelled at mathematics in school. Was employed for 6 years after... More
I can't understand why the Chinese don't come in and offer 30% of the asking prices and buy up whole subdivisions to rent out to the former owners.

It makes a lot more sense than continuing to buy useless IOU's from the Treasury.
Mar 23 01:26 AM Reply
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I Am A Concerned Citizen As Well As A Manufacturing Engineer Heavily Involved In Distressed Real Estate. Points To Ponder: Debate Is The Distillation Of Reality. Reality Will Be Reality Whether Believed In Or Not. Pretending In Dire Circumstance Usually Results In Catastrophe. Complexity Favors... More
How Unfortunate That You Will See This Very Thing Across Many Asset Classes.

Just Before The Last Throws Of Contractual Construction, when Turmoil Becomes More Than Just Financial, "Governments" and their "Sovereign Backers" will "Purchase TANGIBLE Holdings, At Fractions, In Other Countries".

Where contracts survive => so will the centers of wealth, and the Instigators and Enablers that can escape the peoples wrath, from their respective origins.

Watch For It; The event will be slow to be seen but quick in the finality.

A Fundamental Change Will Occur Where "Value" Will Rule Over "Promissory" For All Nations.

Not Everything, Nor Every Point, Will Descend Into Chaos => Some Places Are Going To Get A Bit More "Dynamic", to say the least.
Mar 23 02:10 AM Reply
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Biochemistry major working in the software industry with an outside interest in macro finance.
"And keep in mind that's with interest rates on a 30-year fixed rate under 5%. As the Fed pulls out of the mortgage market in the next two weeks, those rates have nowhere to go but up."

The fed may be pulling out of the mortgage market, but I bet they're prodding the banks to step in and buy the mortgages with all the fed cash on their books. The steep yield curve only helps.
Mar 23 01:26 AM Reply
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COMMERCIAL SHORT SALE. IT'S ON! 'THE PERFECT STORM'

2010-05-21T05:25:00.000-07:00

Fw: [commercialshortsale] Welcome To Commercial Short Sale Yahoo Group...You Have Full Posting Privileges
...
From:
Earl Allen Boek
...
View Contact
To: Kao Saefong
Cc: Earl Allen Boek
You my lucky friend are invited to join, view or post as
a member on our group site located here:

http://groups.yahoo.com/group/commercialshortsale

It's On! $550+ Million In Commercial Short Sales Coming
Your Way In The Next 24 Months. Stake Your Claim Now!
Real Estate is commonly said to me a matter of location,
location, location. Real Estate Investing is all about
timing, timing, timing. It's time! What you do with the
opportunity in the next 12 months or so may determine the
quality of life you and your family enjoy for years to come.

Some of the few in the business so far are calling it......
"THE PERFECT STORM"

"Sometimes all you need is a couple of good years at the right
time and place." EAB

Earl "Al" Boek
Commercial Real Estate Investor
PO Box 887
Bella Vista, CA. 96008-887
530-549-4476

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----- Forwarded Message ----
From: Earl Allen
To: commercialshortsale@yahoogroups.com
Sent: Fri, May 21, 2010 4:48:20 AM
Subject: [commercialshortsale] Welcome To Commercial Short Sale Yahoo Group...You Have Full Posting Privileges

Please make sure to view the description of the group and it's intended purpose to it's users. Spammers or Scumbags will be reported. Don't even try. Now for a little housekeeping first please...

DISCLAIMER

PLEASE CONSIDER THE ENVIRONMENT BEFORE POSTING OR PRINTING
OR SENDING ANYTHING FROM THIS GROUP TO EMAIL

This transmittal may contain privileged and confidential information, and is intended only for the MEMBERS(s) listed above. If you are neither the intended recipient(s), nor a person responsible for the delivery of this transmittal to the intended recipient(s), you are hereby notified that any distribution or copying of this transmittal is prohibited. If you have received this transmittal in error, please notify sender immediately by return E-mail. This communication is confidential and solely for the MEMBERS. Opinions, conclusions and other information in these post which do not relate to the official business of MDRE INVESTMENT GROUP, LLC shall be understood as neither given nor endorsed by it. Be advised that these post, communications and or its attachments are not a commitment to buy, sell, invest in or lend money on real estate. NO commitments are being offered, granted, extended or agreed to by any group member, the founder of the group or MDRE INVESTMENT GROUP, LLC or its associates at this time.

Post made here and communications are for information purposes only and should not be regarded as an offer to sell or as a solicitation of an offer to buy any real estate or financial product, an official confirmation of any transaction, or as an official statement of MDRE INVESTMENT Group, LLC or its Principals. Email transmission cannot be guaranteed to be secure or error-free. Therefore, we do not represent that this information is complete or accurate and it should not be relied upon as such. All information is subject to change without notice.

Sender declares that he is not a licensed United States Securities Broker or Dealer or U.S. Investment Adviser, or a member of NASD and both parties declare that this e-mail is not intended for the buying, selling, or trading of securities, or the offering of counsel or advice with respect to any such activities. This is for your information only and is not to be construed as a solicitation for funds for or the sale REAL ESTATE OR of any securities. These transactions are based on private placements and do not come under the governance of the SEC. These programs are not securities under the United States Securities Act of 1933, or The Securities Exchange Act of 1934 and Regulations thereto, or The Investment Company Act of 1940 and the Rules & Regulations thereof. We are not registered with the SEC or NASD as financial advisers or dealers in securities per The Investment Advisers Act of 1940. This is merely for the informational and educational purposes and benefit of qualified accredited investors only.

This e-mail message may contain privileged, confidential, copyrighted, or other legally protected information. If you are not the intended recipient (even if the e-mail address above is yours) please destroy this email. You are not authorized to copy or retransmit it without the permission of the author, and may not use this information to your benefit. Please notify the sender by replying to this message, and then double delete it from your system. Unintended transmission shall not constitute waiver of the attorney-client or any other privilege.
revised May 21, 2010 Subject to change at anytime, without notice.

Thanks For The Visit. Earl Allen Boek

Commercial Short Sales, Harvard's Housing Study. Worst Housing Crisis In 50 Years.

2010-05-19T18:07:00.000-07:00

Housing Markets...Don't Start The Party Yet, In Fact, Give It A Couple Of More Years...

2010-05-13T07:48:00.000-07:00

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Home Prices Across The Nation Overpriced, Expect More Drops In Market Value

2010-05-01T07:13:00.000-07:00

Tomorrow's Real Estate Trouble Spots

by Francesca Levy
Wednesday, April 28, 2010provided by

In these cities, the housing crisis is expected to worsen.
Since the late 1970s casino-rich Atlantic City, N.J., has been a beachfront escape for poker aficionados and Keno-loving retirees from Philadelphia, Northern New Jersey and New York.

Today, buying a home in Atlantic City is a gamble. Of 315 cities measured by Local Market Monitor, a Cary, N.C.-based real estate research firm, the Atlantic City metro is expected to experience the largest drop in home value over the next 12 months. A pocket of Northwestern cities where restrictions on building have artificially inflated prices, and smaller metros whose housing markets have benefited from internal migration, join Atlantic City on our list of real estate trouble spots.
Like cities in California, Florida, Nevada and Arizona, Atlantic City saw a dramatic run-up in prices during the housing boom due, in part, to speculative purchases of second homes; Atlantic County includes popular beachfront spots such as Margate. But while those bubble markets have already burst, Atlantic City still has significant price depreciation ahead; Local Market Monitor predicts the metro's median home price will fall 9% in the next year.

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"We have not seen the bottom in that market," says Jeffrey Otteau, president of East Brunswick, New Jersey-based Otteau Valuation Group, who says the city is still saddled with 12 months of unsold housing inventory.
As the effects of the recession sink in, the market for second homes in the metro has all but dried up, delaying a local recovery. What's more, tumbling revenues for the gambling industry have cost casino workers jobs, damaging the area's employment base.
Behind the Numbers
To put together our list of housing markets expected to drop, Local Market Monitor measured 315 Metropolitan Statistical Areas and selected the ones where it anticipated average home prices would fall most in the next 12 months. It then narrowed the list to cities where actual average home prices were at least 10% above their equilibrium price--that's where home prices should be based on economic fundamentals, and the price to which they will likely return. LMM calculates its equilibrium price and home value forecast based on trends in local jobs and income as well as the historic movement of home prices. Forbes relied on Local Market Monitor to rank each metro.
Cities in the Pacific Northwest appear on our list, in part, because some of the strictest land planning policies in the country have curbed sprawl and propped prices.
"It's very hard to overbuild in this region, because of urban growth boundaries and a fairly limited supply of developable property," says Randall Pozdena, managing director of ECONorthwest, a Eugene, Ore.-based consultancy. "Wages are 20 to 30% below what wages in the Bay Area are, but home prices are relatively high. We've created an artificial scarcity situation."
In Portland, Ore., homes are overvalued by 31%; in Bellingham, Wash., housing is 22% overpriced and in Eugene, Ore. homes are 21% more than they should be. Local Market Monitor expects prices in Portland to fall 9% in the next year; Eugene prices to drop by 8%; and Bellingham to see a 9% fall.
Smaller metros like Glens Falls, N.Y., Flagstaff, Ariz., and Salisbury, Md., all of which have a population under 200,000, are expected to see home prices drop 11%, 13% and 8%, respectively in the next year. In these places, small shifts in the local economy can cause big ripples.
"If you have one or two large employers in a smaller metro, they will have a greater impact on the jobs and income situation," says Carolyn Beggs, Local Market Monitor COO. "In larger metros there are more employers, so each employer won't have as great an effect."
All but two of the cities on our list saw above-average rates of population growth in the first half of the last decade. Some, like Provo, Utah, and Portland, Ore., saw their head counts rise by double-digit numbers (22% and 18%, respectively). Because in-migration typically boosts demand for housing, the national recession is due to take a particular toll on them.
"During a recession internal migration within the U.S. drops sharply," says Ingo Wizner, president of Local Market Monitor, noting that relocating becomes less financially feasible in hard times."Home prices in these markets are likely to fall for several years, but will then recover as above-average population growth resumes." Both Provo, a college town, and trendy Portland have sustaining appeal to young movers, which will likely pick up along with economic recovery.
Pozdena's outlook about Portland and other Pacific Northwest cities is more measured. While he predicts a short-term softening in prices in Portland, Bellingham and Eugene, he believes that limits to growth and continued in-migration will keep demand high.
"I do think we've been buoyed by some unusual forces," he says. "But I see most of those continuing, rather than reversing."
List: Tomorrow's Real Estate Trouble Spots
While metros like Miami, Las Vegas and Los Angeles have gained notoriety for plummeting home prices, it's not those markets that have the most to worry about now. These new housing trouble spots, most of which saw home prices peak after the national average, are set to see major price corrections in the next year. To identify them, Local Market Monitor, a Cary, N.C.-based real estate research firm found the Metropolitan Statistical Areas where it forecast the biggest average-home-price drops in the next 12 months, and where the actual average home price was 10% or more above what it would be without market volatility. Forbes relied on Local Market Monitor to rank each metro.
1. Metropolitan Statistical Area: Atlantic City-Hammonton, N.J.

Saul Loeb/AFP/Getty Images

Equilibrium Home Price: $159,117.00
Overpriced: 54%
12-month Price Forecast: -9%
*Forbes relied on Local Market Monitor to rank each metro.

2. Metropolitan Statistical Area: Provo-Orem, Utah

AP/George Frey

Equilibrium Home Price: $136,247.00
Overpriced: 44%
12-month Price Forecast:-12%
*Forbes relied on Local Market Monitor to rank each metro.

3. Metropolitan Statistical Area: Portland-Vancouver-Beaverton, Ore.-Wash.

Shutterstock

Equilibrium Home Price: $189,818.00
Overpriced: 31%
12-month Price Forecast: -9%
*Forbes relied on Local Market Monitor to rank each metro.

4. Metropolitan Statistical Area: Glens Falls, N.Y.

AP/Mike Groll

Equilibrium Home Price: $177,003.00
Overpriced: 22%
12-month Price Forecast: -11%
*Forbes relied on Local Market Monitor to rank each metro.

5. Metropolitan Statistical Area: Bellingham, Wash.

Cynthia Smith/iStock

Equilibrium Home Price: $230,024.00
Overpriced: 22%
12-month Price Forecast: -9%
*Forbes relied on Local Market Monitor to rank each metro.

Click here to see the full list of Tomorrow's Real Estate Trouble Spots

Commercial Real Estate Investing…Are you a Lion, Cheetah, or Hippo?

2010-04-28T10:39:00.000-07:00

Copyright 2010 By Earl Allen Boek All Rights Reserved
Commercial Real Estate Investing…Are you a Lion, Cheetah, or Hippo?

Last night I watched a very disturbing video on National Geographic
Channel.

It was so horrible to watch, there should have been a warning issued
in advance of the showing. My description of it should be enough
warning to you, not to even look for it on the web, unless you too,
want to replay those visions over and over in your mind like I’m doing…
even as I write this down.

It was a home movie filmed by tourist somewhere in Africa and it starts
with a viewing of a pride of lions. I would say nearly a dozen, then it
zooms in on a mother hippo and it’s baby hippo, tagging along beside
it.

The mother hippo seems in shock and a closer view shows it has been
attacked repeatedly along It’s back and spinal area as it is covered in
blood with chunks missing from it, including the area on it’s blooding
rump behind and underneath it’s tail. The mother hippo appears to be
roaming aimlessly, almost stumbling as it goes. The baby hippo beside
her, does not even appear to have a mark on it, yet.

Another closer pan to the pride of lions shows their obvious interest
in the pair of hippos and you realize they are no doubt responsible in
someway for the plight and the shape we find the mother hippo in.
Luckily for us we are spared the filming of what must have been hours
of multiple attacks and escapes by the mother hippo and it’s young
through the night. This is confirmed for you as several of the lions get
up from the dirt and begin stalking the hippos again, then finally
the entire pride joins in the stockings.

Quickly but carefully and mindfully avoiding the huge, hippo
mother’s teeth she flashes and bites out at each attacker, but the
lions easily jump and avoid any damage to themselves and there
are far too many of them for her to concentrate on anyone of
them for long anyway. They continue to bite what must be
huge mouthfuls out of the hippo’s back as they try to destroy
her spinal column in an attempt to bring the large animal to
the ground, even as she reacts, she still has the presence of
mind, or just in breaded nature, to keep her own body between
the loin attacks and her much smaller hippo baby.

Either one of the hippos might have been able to escape the
lions as the lions concentrate on the other, but neither would
leave the other alone. It becomes more heart-wrenching to
watch as the mother finally gives up, her huge weight
slamming into the dusty earth, and then to watch her baby
drop it’s head like a small bull and tries to fend off one of it’s
mother’s attackers, as she lies helpless under the combined
weight of several of the large animals. The cowardly lion is
actually afraid and jumps away from the baby hippo’s attack
until the little hippo turns it’s attention back to it’s
mother than the coward lion returns and jumps on the baby’s
back from behind it.

Sobs from the tourist and screams from the animals and
gasps from those filming are recorded right along with the
video, as the baby hippos is filmed going down while
attempting to defend it’s mother’s life, finally, the screen
goes blank. I’m setting there in shock from what I’ve just
viewed.

Our cameraman then comes on and tells us all the cameras
on the tour vehicle were shut off voluntarily, at that point,
as it was too horrible to even continue to film the remaining
drama, with all the horrible screams from the baby hippo
And the entire tour group, many crying and in tears, and
watching the horrible spectacle play out.

Another short video on the same program shows a similar
attack by a smaller group of lions against a cheetah. The
cheetah, immediately fell on it’s back to protect it’s spine,
as it fought multiple attacks by the lions at once, using
all four of it’s claws and teeth in the process. Finally the
cheetah, about 1/3rd the size of any of the lion attackers,
actually bit into the lead lion’s face and locked on it with
it’s powerful jaws. That lion was happy to release and
stop it’s attack at that point, as did the other lions and
the cheetah was finally able to escape, what at first
appeared to be sudden death. The lion stood there with
blood rushing down it's face and chin and a look like
"what the hell just happened here."

Switch To Our Commercial Short Sale Serengeti

Then it hit me, being in the commercial real estate business
I am meeting “would be, but won’t be associates, who
behave a lot like members of this pride of lions.

This new breed of businessman (and maybe women too)
the lazy, self indulgent, pride-full, full of themselves,
over confident and under talented, for sure, in
communication and interpersonal management and sales
skills, lacking I’m sure in other areas as well, which I
refuse to explore in more detail, greedy, pack mentality,
dishonest, bull shitting, selfish, cowards. (I reserve the
right to expand on these ideas later.)

Frankly, attempting to work with these “self-proclaimed
lions” of the RE industry is quickly becoming boring
and rather distasteful to me. Thanks to God I only need
a few good deals to succeed in this business and I'm
not in such a big hurry that I cannot treat my customer,
my associates with a little dignity, class and respect.

I would rather hang out with the cheetahs and work
with the hippos. Let the lions all fight over
their next meal, I don't intend to be it. Smile.

So the next time Mr. Lion, you check your way too
full plate, notice I'm no longer on your menu.

Thank you. EAB

Commercial Short Sales, REO's Distressed Cities Top 10 Home Owner Slaugterhouses.

2010-04-24T18:15:00.000-07:00

10 Cities Facing a Double Whammy of Default Risks

Luke Mullins, On Friday April 23, 2010, 5:28 pm EDT

Nearly four years after the real estate market peaked, an alarming number of Americans remain in danger of losing their homes. A non-seasonally adjusted 15 percent of home mortgages were either delinquent or in foreclosure at the end of the fourth quarter of 2009, according to the Mortgage Bankers Association. That's the highest-ever tally in the history of the MBA's National Delinquency Survey.
Mike Larson of Weiss Research points to two key factors behind these high delinquencies. Sharply falling real estate values have put about 21 percent of homeowners underwater, meaning that they owe more on their mortgage than their home is worth. Property owners in this position--which is also known as having negative equity--may find it in their best interest to simply walk away from the home (even, in some cases, when they can afford to make their monthly payments). At the same time, an uncomfortably high national unemployment rate of 9.7 percent means that many Americans won't have the income they need to pay their bills.
[Slide Show: 10 Cities Facing Double-Whammy Defaults.]
Today, some particularly hard-hit markets are in the unenviable position of having both elevated unemployment and high concentrations of negative equity. "Clearly, those are the markets where you are going to see some of the worst metrics on the foreclosure side," Larson says. "You are going to see a lot of people walking away [and] you are going to see a lot of distressed inventory that's being dumped on the market." To pinpoint housing markets that are facing these twin default risks, U.S. News compared negative equity data from Zillow with unemployment figures from Moody's Economy.com. (All data refers to the fourth quarter of 2009.) Based on this data, here is a look at 10 cities that face a double whammy of default risks.
[See How Strategic Defaults Are Reshaping the Economy.]
1. Las Vegas: Speculators and exotic loans pushed home prices in this gambling Mecca dramatically higher during the first half of the previous decade. But after peaking in 2006, the real estate market's crash cleaned out investors and submerged an alarming portion of area homeowners. Through the fourth quarter of 2009, more than 81 percent of single-family home mortgages in Las Vegas were underwater. Meanwhile, the implosion of the housing sector has hammered the local labor market, says Larry Murphy, the president of SalesTraq. When the housing market was sizzling, construction emerged as a key job provider for Las Vegas residents. But as home prices tumbled, the jobs disappeared. "When the housing market goes in the tank, the construction market goes in the tank," Murphy says. "Then you have unemployment and those people can't buy [property] and so it's kind of like a death spiral." The unemployment rate in Las Vegas reached 13 percent in the fourth quarter of last year.
2. Merced, Calif.: California residents looking for alternatives to pricey big cities helped send home prices surging in places like Merced during in the early to middle parts of the last decade. Real estate values in this city of 77,000 residents, which is located east of San Francisco, increased at monster rates before running out of steam in 2006. The proliferation of exotic, adjustable-rate mortgages played a key role in this development, says John Walsh, the president of DataQuick. But the subsequent crash dragged more than 64 percent of area homeowners underwater through the fourth quarter of 2009. And the impact of the real estate bust stretched beyond home prices. "You go to places like Merced and you've got a real significant percentage of the population [that] was involved in either home building, home financing, or home sales," Walsh says. "And all of the sudden all three pieces of those are gone." As a result, Merced's unemployment rate stood at 19 percent through the fourth quarter of 2009.
3. El Centro, Calif.: The same forces that upended Merced's housing and labor markets also hammered the city of El Centro, Walsh says. Residents looking for a cheaper alternative to nearby San Diego moved to El Centro, increasing home prices in this city of 40,000, Walsh says. But when home prices crashed, nearly 57 percent of homeowners found themselves underwater through the fourth quarter of 2009. And without real estate-related industries churning out jobs, the unemployment rate has hit nearly 30 percent.
4. Port St. Lucie, Fla.: The housing market in Port St. Lucie, located on the southeast coast of Florida, experienced one of the most aggressive pricing booms in the state, says Jack McCabe of McCabe Research & Consulting. But the run-up in real estate values wasn't underpinned by growth in population or jobs. "These were markets that were heavily dominated by investor flippers, speculative flippers," McCabe says. "They had no intention of ever occupying the property." When prices crashed, more than 55 percent of single-family homeowners found themselves underwater through the fourth quarter of 2009. And as stagnant sales undercut the housing sector's ability to create jobs, area unemployment reached 14 percent.
5. Fort Myers, Fla.: Over on Florida's west coast, the housing market in Fort Myers experienced a similar phenomenon. An aggressive boom-and-bust cycle has handed negative equity positions to 55 percent of single-family homeowners. And like other housing-boom hotspots, the pain hasn't been limited to real estate values. "We had extremely low unemployment during the boom years because it was all construction jobs," McCabe says. "There was no industry growth and there was no company growth. These were all real estate-related businesses--brokers, title companies, appraisers, and on and on." After the housing euphoria subsided, many employees of real estate-related companies lost their jobs. Unemployment in the Ft. Myers area hit 14 percent in the fourth quarter of 2009.
6. Bend, Ore.: Vacation home buyers, speculative investors, and unique land-use laws worked to drive home prices in Bend sharply higher during the housing boom, says Lester Friedman, president-elect of the Central Oregon Association of Realtors. But as the market petered out, prices headed south in a hurry. "When the market turned, all of a sudden instead of multiple bidders, you've got multiple sellers and very few buyers," Friedman says. Declining real estate values dragged nearly 41 percent of Bend's homeowners underwater. Meanwhile, the housing bust hit the local economy by eroding demand for wood products, an industry that expanded swiftly as real estate values climbed, according to Celia Chen of Moody's Economy.com. Friedman notes that weakness in the tourism sector, which slowed along with the broader economy, has also helped lead to an unemployment rate that topped 14 percent in the fourth quarter of 2009.
7. Ocala, Fla.: The central Florida community of Ocala, which is located north of Orlando, is in the same precarious position as the coastal cities of Port St. Lucie and Fort Myers. Thirty-six percent of homeowners in Ocala are underwater, and area unemployment stood at 14 percent in the fourth quarter of last year. "All throughout Florida--from one coast to the other and in between--the market was overdeveloped and overbuilt," McCabe says. "And that includes the Ocala market."
8. Detroit: A number of cities located outside of the housing-boom hotspots are also facing the twin dangers of high unemployment and negative equity. The erosion of its traditional manufacturing industrial base has helped drive unemployment in the Detroit area to more than 16 percent through the fourth quarter of 2009, Chen says. "And at the same time, there was some very aggressive lending going on during the housing bubble," Chen says. "So many buyers were getting credit who probably shouldn't have gotten credit." High unemployment and exotic home loans have combined to drag nearly 26 percent of area homeowners underwater through the fourth quarter of 2009.
9. Rockford, Ill.: These same forces have worked to land Rockford--a city of 157,000 located in northern Illinois--in a comparable fix, Chen says. Local unemployment hit 16 percent in the fourth quarter of 2009. "The Midwest did go into the recession earlier than the rest of [the country], so the situation has been eroding for a longer period of time," Chen says. At the same time, more than 22 percent of homeowners had negative equity in the final three months of last year.
10. Toledo, Ohio: The housing market in Toledo also faces high unemployment and negative equity. In the fourth quarter of 2009, local unemployment stood at more than 12 percent and roughly 28 percent of homeowners had negative equity. As was the case for Rockford and Detroit, Chen fingered the disappearance of manufacturing jobs and the proliferation of risky mortgages for Toledo's housing headaches.

Real Estate Values In "FREE FALL" According To Yahoo Article

2010-04-16T12:22:00.000-07:00

U.S. Cities In Free Fall

Francesca Levy, Forbes.com

Apr 13th, 2010

Economic indicators in these metros have gone from bad to worse, with no sign of recovery.

Miami boasts a popular South Beach club scene, Art Deco Architecture, and perhaps the best Cuban food in the country. But residents don't have much else to celebrate.

More than three years after the economy started its downward slide, the Miami metro area, like a handful of Sun Belt cities, still hasn't begun to recover. Median home prices in Miami have fallen 38% since its market peaked in the second quarter of 2007; the city's 11% unemployment rate is above the national average and has grown more than most of the 40 cities we surveyed.
List: 10 U.S. Cities In Free Fall 10 Cities in a Free Fall

Cities in the "Sand States" of Florida, California, Arizona and Nevada, where overbuilding was rampant, are also in trouble, claiming nine of the top 10 spots in our list of cities in free fall. In Las Vegas, Riverside, Calif., and Phoenix, median home prices have fallen 50%, 44% and 37% from their respective peaks. Jobs are vanishing. Though country-wide, employers added 162,00 jobs last month, Riverside gained 13% fewer jobs in February 2010 (the latest numbers available by metro) than it did the same month three years earlier. Tampa, Fla., saw a 10% drop, and Los Angeles added 9% fewer jobs over the same time period.

These cities are also slow to absorb their glut of unsold foreclosed homes, keeping recovery at bay.

"These were highly speculative housing markets," says Jonathan Miller, president of Miller Samuel, a Manhattan-based real estate appraisal firm. "In the markets that have unloaded a lot of foreclosed housing stock there's still a lot more coming."
Behind the Numbers

To find the country's cities in free fall, we rated its 40 largest Metropolitan Statistical Areas (MSA) on six metrics.

We ranked each MSA on the percent its median home price has fallen since its individual peak, using data provided by Local Market Monitor, a housing market data tracker. To get an estimate for the number of new homes being built, we used data from the U.S. Census Bureau, which tracks how many building permits are issued. Roughly 98% of these permits become new home starts. We looked at the percent change in new building permits between February 2007 and February 2010.

We also wanted to know how many people were moving in and out of these metros, since a growing population buoys a local economy. We used the Census Bureau's most recent population estimates to rank each metro on its net population change between July 2006 and July 2009. To judge each city's productivity we also ranked each metro on its per capita gross domestic product in 2008, the most recent year available, using data from Moody's Economy.com. Finally, we ranked the metros on the percent change in unemployment between January 2007 and January 2010 and the number of jobs they added between February 2007 and February 2010, with data from the Bureau of Labor Statistics. We averaged these rankings to arrive at a final score.
Sunshine State Stagnancy

Florida cities dominate our list, with Tampa, Orlando and Jacksonville joining Miami. Florida's real estate market keeps falling even as some herald the start of a rebound. The state's comparatively sluggish foreclosure process keeps those homes from getting easily flushed out of the market. Because every foreclosure must be approved by a judge, the procedure takes a minimum of five months to complete.

"In states with complex foreclosure laws, the recovery is clearly being delayed," says Mike Simonsen, CEO of Altos Research, a Mountain View, Calif.-based real estate research firm, who adds that lengthy foreclosures may be driving away real estate investors in these cities.
A Trouble Spot in the Northeast

Picturesque Providence, R.I., is the only New England metro on our list. Economically, it's struggling far more than other cities in the region. Although Providence saw a slower three-year increase in unemployment than some other major metros, it still has a high unemployment rate, at 14%. The city also added 9% fewer jobs in 2010 than three years earlier. Workers are getting the message and leaving town. Providence is the only city in our top 10 to see a net loss in population.
Grim News for the Golden State

California cities are struggling too. Riverside, Los Angeles and Sacramento are suffering because of the knocks they took after their inflated housing markets began to plummet. Unemployment in the City of Angels has nearly tripled in three years, to 12%. Riverside's unemployment has also ballooned, to 15%. Meanwhile Sacramento saw a 75% drop in new building permits. These are troubling signs for Cali metros, but not surprising. The end of the state's home-price climb triggered more than just a housing slump.

"In California, so many jobs were concentrated in construction," says Michael Fratantoni, vice president of research at the Mortgage Bankers Association, the professional association for real estate financiers. "Jobs building single family homes wound up not being sustainable, and there were a lot of job losses."

The long-term consequences of the housing crash in these cities are still playing out, and new factors that complicate a recovery keep cropping up.

"Places like Phoenix and Riverside may take even longer to recover because people might just pick up and leave to go to places doing better," says Fratantoni. "It may make more sense to leave, rather than wait for jobs to return."
Top 5 Cities in a Free Fall

1. Miami-Fort Lauderdale-Pompano Beach, FL
Net Population Change, 2006-2009: 1.47%
Per Capita Gross Domestic Product: $42,645.52
Change in New Building Permits, February 2007-February 2010: -77.46%
Change in Unemployment, January 2007-January 2010: 202.70%
Change in New Jobs Added, February 2007 - February 2010: -9.68%
Change in Median Home Price from Market Peak: -38%

2. Tampa-Clearwater, FL
Net Population Change, 2006-2009: 2.33%
Per Capita Gross Domestic Product: $42,562.92
Change in New Building Permits, February 2007-February 2010: -44.18%
Change in Unemployment, January 2007-January 2010: 235.90%
Change in New Jobs Added, February 2007 - February 2010: -9.87%
Change in Median Home Price from Market Peak: -32%

3. Riverside-San Bernardino-Ontario, Calif.
Net Population Change, 2006-2009: 4.40%
Per Capita Gross Domestic Product: $32,403.49
Change in New Building Permits, February 2007-February 2010: -65.69%
Change in Unemployment, January 2007-January 2010: 177.78%
Change in New Jobs Added, February 2007 - February 2010: -12.94%
Change in Median Home Price from Market Peak: -44%

4. Jacksonville, Fl.
Net Population Change, 2006-2009: 3.83%
Per Capita Gross Domestic Product: $16,035.65
Change in New Building Permits, February 2007-February 2010: -66.09%
Change in Unemployment, January 2007-January 2010: 227.03%
Change in New Jobs Added, February 2007 - February 2010: -7.74%
Change in Median Home Price from Market Peak: -23%

5. Phoenix-Mesa-Scottsdale, AZ
Net Population Change, 2006-2009: 7.85%
Per Capita Gross Domestic Product: $40,870.16
Change in New Building Permits, February 2007-February 2010: -83.61%
Change in Unemployment, January 2007-January 2010: 148.65%
Change in New Jobs Added, February 2007 - February 2010: -10.01%
Change in Median Home Price from Market Peak: -37%
Click here to see the full list of Ten U.S. Cities In Free Fall
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List of All Ten Cities In FREE FALL

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Commercial Short Sales. Links I've found Valuable. Return For Updates and Additions. _By Earl Allen Boek

2010-04-08T07:51:00.000-07:00

http://findcashbuyersnow.com/videos.htm

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COMMERCIAL SHORT SALES...$1 MILLION REASONS YOU SHOULD BE INVESTING IN COMMERCIAL SHORT SALES_By Earl Allen Boek

2010-03-25T09:54:00.000-07:00

http://distressedcommercialshortsales.blogspot.com/

Finance » Investing

Author: Earl Allen Boek
Date posted: Mar 25, 2010
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$1 Million Reasons You Should Be In Commercial Short Sales
Real Estate Investing

By

Earl Allen Boek

All Rights Reserved 2010

My name is Earl Allen Boek. My friends call me Al Boek. As I write this I live in the far reaches of Northern California in a smaller city, much like thousands of other smaller cities across the country. I grew up here in the area salmon fishing and playing football in high school and working in the local food service industries. My family has been here for generations now and I’ve been here for the last 15 years or so, just about the longest period, since my childhood.

My background is not that different perhaps than many of you that will read this. I went into the military when I was 19, when I returned I met and married a childhood sweetheart. We had two boys who both now have children and families of their own. I went to a local junior college on the GI Bill and graduated with an AA, taking mostly business related classes.

Since I live in an area known mostly for it’s timber and recreation, mountains, streams, rivers and lakes, the pace here and the income potential, compared to places like San Francisco, Los Angles, Honolulu, other places I’ve also lived, is slower and the real estate investment markets are not like anything compared to these metro areas .

The commercial, distressed/short sale transaction I am about to share with you should not have happened in a place so small, really, but the fact that it did, is good news for you living in the more rural areas of the country. What it means is the information that I am about to share can be of value to you, agreed to maybe different degrees, but still a benefit, no matter where you live.

You should know, I had no credit and no money when I started this transaction. Anything you have in those two areas, better than I did at the time is certainly icing on your cake. Understand had I no choice in that matter, I would rather have had some, or a bunch of both credit and cash on hand to invest. But what I did have, what I found was a distressed commercial medical office complex. To do a deal, you
have to have a deal to do.

Even though it had sit empty for three years before I did the transaction and I had driven by this big empty set of offices on two commercial lots across from the post office in my town, nothing happened to it until I made up my mind to purchase it.

So the transaction had to happen first, in my mind before it could have ever of happened at all. Looking back I just wish it had happened a year or two sooner. Then again, the three years of nothing happening to it, had done nothing to hurt my chances of success…as it turned out.

I will be including pictures and other documentation of the building lots and the actual offices that were included in the deal as well as back up documentation and proof of everything I write in these pages. Because, frankly, even though we have all heard stories like this one.

When you turn your TV on late at night and hear some pitchman saying how you can begin purchasing real estate with no money down, with no credit, with no nothing., but their exclusive program of course, our minds, quickly take us back to our sanity, telling us that what our minds have created cannot happen in the real world. So after our minds convince us something can’t be done, it seldom is done, that is why I feel you need the proof and back up documentation. Not just a copy of a check, at close, which by the way was $98,600 and change. I’ll also include the written offer, pictures, the closing statements on the deal, the lease/rent registers, the appraisal, so that your mind figures out what my mind did.

Hey, this deal can be done!

“You do not believe me MIND? just watch this.”

So just realize what I have, the only thing between you and your first deal, or you in your next 100 deals, is the command of that little bit of real estate, right between your ears. You can achieve what you mind can conceive. Can you do it on your first deal? Maybe not, but then again, why not?

My suggestion at this point, is to go get yourself 500 business cards with your name on them and the words Real Estate Investor, just for starters… so your mind gets the message. Smile.

So, here’s the transaction scenario. Every transaction has one. A break down of the deal. Goes like this…We have one long building approx 3300 sq ft. with a couple of waiting rooms, ex doctor offices, a nurses station, a coffee break room, several bathrooms, including a handicap one, a large phone and file room, and about 5 or 6 nice office spaces and about a dozen of what were once examination rooms, about 150 sq. ft. ea. Behind this building is another building that would make two nice private doctors offices, each with a waiting room, a nurses/bookkeeping station and another 6 each examination rooms about another 2,500 Sq ft all together in those two attached offices. Behind that building was a nice brick building used for storing records, free standing about the size of a large garage with a roll up door on one side and entry door on the other. So all this real estate is on one commercial parcel and behind that parcel is another bare parcel the same size separated by an alley. The entire transaction, owned free and clear by three older, retired doctors, was
being offered for $550,000. All the buildings were at least 30 years old, maybe a little older.

The entire half of city block across from the town post office is listed by a local real estate broker. His listing commission is 5% ($27,500) and if he’s lucky enough to sell it too, it doubles to 10%. (He actually ended up earning $60K on this deal)

So, in the heart of a little town, this one having 9,000 folks, mostly retired, just 15 minutes south of the town I live in, just off of Interstate 5, heading North to Oregon, or South to Sacramento. It’s possible to do a transaction like this one and create
or turn it into your first $1 million dollar transaction.

Ok, there you have it….What do YOU want to offer for it? Maybe first we need to decide what you think you can do with the buildings, that is what can you do, that no one else passing them has not thought of for the past 36 months to turn this empty project into a money maker?

The city was called Anderson, so it was as easy as ABC for me. Anderson Business Center. Sub leasing small offices to small businesses became my fifth cash flow & stream of income.

Sorry, I left out a few others didn’t I? Before I tell you about the other income streams, I think its a real good time for you to consider going online and ordering a LLC, Limited Liability Company. You should not spend over $400 for one. Best to get one from the secretary of state of you State, that’s exactly the same place the web company will be forced to buy it for you. In my state if I go direct the set up is around $200. More respect will be paid you if your offer is made from this kind of
investment vehicle, unless you rich and well-known in your city, even then, now you should FOR SURE use this type of vehicle to do real estate transactions and offers with for the asset protection this structure provides. Back to the deal.

The first stream of cash…I needed $1,000 to cover the $1,000 earnest money, I needed $35,000 more to cover the added deposit in thirty days so I could move in and I needed $100,000 in 90 days to close the escrow and take final control of the buildings. So the first cash flow on the building was the $36,000 I borrowed. This would have been a good time to get an extra $4,000 to work with also, and I may have done that, but cannot for the life of me remember doing it.

The second cash flow, got to have a reason for asking for cash, was to cover the $100,000, added deposit which I did. At that point I was given keys to the building and allowed to move in. It was in fair to good shape. So after installing phones and internet, I purchased a banner and started leasing out spaces. Third stream of cash flow.

Then I needed some operating capital, I looked around, and figured I do better hiring a Southern California appraiser than a local one, and asked for
his verbal suggestion what the buildings might be worth. Like sales are used for this, same size, the same type of locations, adjusted for my smaller town, market values were compared and then I asked what he thought it all might be worth, leased out? I was stunned when he told me perhaps over $1 million. Actually Stunned is not the best word, since by then I had a good handle on the actual value of the transaction to me, from an investor stand-point. None-the-less, at that moment I stepped up my leasing efforts and ordered an appraisal.

Within 3 months, on the strength of the verbal appraisal coming I found an investor and borrowed another $250,000 dollars and closed the transaction, secured by a second deed of trust and a note drawn on the LLC and signed by me as the manager. After all title and escrow fees, bringing the taxes all current on two lots and paying all loan payments 6 months in advance, points, fees and cost. I closed the transaction and was issued a check to the buyer, my LLC of nearly $100,000. Dollars.

Within 6 months of the purchase the property appraised at $950,000. So my fifth cash stream was the appreciation of the building through my fixing up and leasing the offices. A whopping $400,000 dollars or over $66,000 a month since my purchase increase in value. (Appreciation my fifth cash flow from the project of nearly 1 dozen cash flows and related companies founded that 12 mo. period)

But it did not stop there. That is where it all really started. The major portion of the money gross and netted in this transaction was not from appreciation but from what I call association.

Anderson Cottonwood Acquisitions, LLC

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COMMERICAL SHORT SALES, LATEST NEWS AND COMMENTARY

2010-03-23T10:57:00.000-07:00

11.3 Million (25%) of Mortgages Underwater

Posted on February 24, 2010 by tedakers

Cnn.Money.com and several others are reporting that according to FirstAmerican CoreLogic more than 11.3 million homeowners, almost 25% of all U.S. mortgages, owe more on their mortgage than their home is now worth as of the end of 2009. That is up from 23% and 10.7 million borrowers from three months earlier. An equally critical number is that over 10% of all mortgagees owe 25% more than their home is worth. “The rise in negative equity is closely tied to increases in pre-foreclosure activity,” CoreLogic said. Once a homeowner owes 25% more than the house is worth, foreclosure rates rise sharply.
The number of underwater mortgages increased by about 620,000 from the third quarter, the firm said. Another 2.3 million mortgages had less than 5% equity in their home, which could be wiped out if home prices fall further. “Negative equity is a significant drag on both the housing market and on economic growth,” said Mark Fleming, chief economist with First American CoreLogic. “It is driving foreclosures and decreasing mobility for millions of homeowners.”
Underwater mortgages are concentrated in few states. In Nevada, 70% of mortgages were underwater followed by Arizona (51%), Florida (48%), Michigan (39%) and California (35%).
These numbers, along with close to 10% delinquency rates for payments over 60 days late for both FHA and Jumbo loans, point to a slow recovery. It does however highlight likely upcoming opportunities for Short Sale and REO investors.

Filed under: Economic News, Foreclosure, Shortsales | Tagged: back-to-back closings, Flash Cash, Foreclosure, investor funding, reo, Short Sale, transactional funding | Leave a Comment »

Why Investors Should Focus on Short Sales?

Posted on February 14, 2010 by tedakers

Because they will continue to be a VERY significant part of real estate investing for at least two years. It is all in the numbers, and “the numbers do not lie”.
Real estate website Zillow.com says one of every five U.S. home owners owe more on their mortgage than their home was worth in the fourth quarter. YES, One out of every Five – or 20% of all mortgages have some potential as short sale candidates. U.S. home values declined again in the fourth quarter, as the Zillow Home Value Index fell 5% year-over-year. It was the 12th consecutive quarter of year-over-year declines. “The prevalence of markets in or near a double-dip situation shows that we are not yet at the bottom, in terms of home values,” according to Stan Humphries, chief economist for Zillow.
The Federal Housing Administration (FHA) reports that the percentage of loans it insures which are at least 90 days past due hit 9.12% at the end of 2009. This is up from 6.82% one year earlier – a whopping 34% increase. For those not familiar, a 9-10% delinquency rate is of significant concern. FHA currently insures about 30 percent of all new loans for home purchases. AND, FHA just suspended their 90 day no-flip rule allowing Short Sale or REO investors to sell quickly to an FHA buyer.
According to DSNews delinquencies on prime Jumbo loans continue to climb. Fitch Ratings Service says they could reach 10 percent as early as next month, as serious delinquencies rose for the 32nd consecutive month. According to Fitch prime Jumbos at least 60 days past due swelled to 9.6 percent in January, up from 9.2 percent in December 2009. The company says delinquencies accelerated in 2009, nearly tripling over the course of the year. States with the highest volume of prime jumbo loans outstanding are California, New York, Florida, Virginia, and New Jersey and comprise approximately two-thirds of the $381 billion Jumbo loan market. So, 10% of $381 Billion equals $38 Billion in Jumbo loans in trouble. Florida saw the biggest monthly jump of these states. It holds only 6 percent of the market share, but now has the highest serious delinquency rate at 16.6 percent.
However, of primary focus to investors and the market is the approximately $2 Billion per month of Option ARM’s scheduled to “recast” beginning in March 2010 and which will climb to $6 Billion in the month by October 2010. From there “recasts” will gradually climb to a peak of approximately $13 Billion in October 2011 and will taper down to zero by September 2012. A “recast” of an Option ARM is similar to a reset of a traditional ARM. However, a major difference is that the likelihood of an Option ARM mortgage being underwater compared to actual value versus a traditional ARM is significantly higher. Moodys has previously reported that 93% of Option ARM homeowners have chosen to make payments under their “four payment options” that adds principal to their mortgage balance every month, making a potential refinance very unlikely. Moodys also reported that the average payment increase at the time of a recast is 63%. How many homeowners paying $1,000 per month can absorb a new payment of $1,630? Alt-A ARM resets, which are typically stated income mortgages, also nearly mirror the monthly volume of Option ARMS in these same time periods. In my opinion Option ARM mortgages present significant potential for short sale investors.
Short sales are not for all investors, as they can be complicated and time consuming. However, the current numbers of short sales are presenting investor opportunity; and I believe their total numbers will continue to grow until early 2012. To avoid frustration and excessive time spent with banks I recommend that most, and especially new, investors outsource your short sale negotiations to experienced loss mitigation or short sale negotiation companies. I can recommend experienced and successful negotiation companies if you do not have one.
Ted Akers and Investor Funding Alternatives, LLC provide 100% purchase financing plus closing costs for Short Sale or REO investors when you have an end-buyer under contract. Investor financing for flip transactions can be accessed at the website www.InvestorFundingSite.com .

Filed under: Economic News, Industry News/Articles, Shortsales | Tagged: back-to-back closings, FHA, Flash Cash, real estate investing, Short Sale, transactional funding | Leave a Comment »

When Home Value hits 75% – Owners Walk For Strategic Reasons

Posted on February 4, 2010 by tedakers

According to First American Core Logic 4.5 million home values had fallen to or below 75% of their mortgage balance by the third quarter of 2009. Those numbers are now projected to climb to 5.1 million homes, or approximately 10% of all homes. The 75% threshold is being considered a level where more homeowners consider walking away from their mortgage for financial strategic reasons, even though they may be able to pay. Consultants at Oliver Wyman estimate that 17% or 588,000 homeowners walked from their mortgages in 2008 for such strategic reasons. The full CNBC article can be viewed at the following link: http://www.cnbc.com/id/35216537
This data along with the Treasury Department HAFA program and FHA’s one year suspension of their 90 day no-flip rule that should encourage short sale investors. Although unfortunate for homeowners, the economy, and valuations those that become proficient in the short sale business could thrive for the next 2-3 years. The key to investors is to get to the homeowner to consider a short sale as an alternative before they throw in the towel.

Filed under: Foreclosure, Industry News/Articles, Shortsales | Tagged: back-to-back closings, Flash Cash, foreclosures, real estate investing, Short Sale, transactional funding | Leave a Comment »

REO Purchase Subsidy Offered by FNMA

Posted on February 2, 2010 by tedakers

FNMA will subsidize up to 3.5% for purchases of its REO properties listed under the Home Path program, which is FNMA’s REO disposition operation. The subsidy can be used towards closing costs or appliance purchases. The link to that program is www.HomePath.com . For this incentive properties need to be Owner-Occupied and purchased by May 1, 2010. Home Path mortgages and renovation mortgages are also available on these properties with as little as 3.0% down payment.
This is a short window available until May 1, 2010. While the time frame is short it is another indication of attempts to lighten REO levels. At the end of September FNMA had 77,275 REO properties, a 7% increase year over year. More significant however is a noticeable increase in seriously delinquent loans. Loans three (3) or more payments behind increased a substantial 2.3% in November to 5.29%. While this offer is only available to Owner-Occupants, it is a good indication to investors that FNMA and others are expecting continued high levels of delinquencies. Opportunities will continue for both REO and Short Sale investors.

Filed under: Foreclosure, Industry News/Articles, REO-Bank Owned Prop. | Tagged: back-to-back closings, FNMA, Foreclosure, real estate investing, reo, transactional funding | Leave a Comment »

FHA Waives 90 Day Investor Flip Restriction!!!

Posted on January 16, 2010 by tedakers

This is Big News for investors AND a smart move by FHA. Effective February 10, 2010 under waiver of 24 CFR 203.37a(b)(2) the previous restriction preventing FHA buyers from buying a property with less than 90 days title seasoning has been waived for one year as follows:
            The waiver will take effect on February 1, 2010 and is effective
for one year, unless otherwise extended or withdrawn by the FHA
Commissioner.
Some conditions apply. Those most relevant to investors are as follows:
-          All transactions must be arms length
-          The Seller holds title to the property
-          The waiver does not apply to Home Equity Conversion Mortgage (HECM) for Purchase program
-          No pattern exists of flipping the subject property within the previous 12 months
-          The property was marketed openly and fairly via MLS, Auction, or FSBO

IMPORTANT NOTE: the waiver states (any sales contracts that refer to an “assignment of contract for sale”, which represents a special arrangement between seller and buyer may be a red flag)

- If the sale is 20% or more above the acquisition cost additional lender requirements are to apply as follows:

Justify the increase with documentation of significant renovation to justify the increase OR a second appraisal, AND
The lender orders an FHA approved inspection report and provides it to the Buyer

The waiver and the balance of specific language can be found at:
http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf
The Red Flag language regarding “assignment of contract for sale” is an important consideration for investors flipping properties. Transactions involving an assignment are likely to receive scrutiny by the End-Buyer mortgage underwriters. However, use of Transactional Funding is a low-cost alternative by providing two stand-alone transactions allowing for the flip in less than ninety days. Additionally, the requirements to justify any sale price above 20% of acquisition cost are likely to receive extra scrutiny. However, at least the waive allows for it with documented improvements and/or a second appraisal and an inspection.
I applaud FHA! The waiver is not directly intended to assist investors, but is a realization that not restricting free market activities will help move REO property more quickly, will maximize the return to FHA, will assist first time home buyers, and will help stabilize real estate prices. How long will it take FNMA and Freddie Mac to see the light?

Filed under: Foreclosure, Industry News/Articles, REO-Bank Owned Prop. | Tagged: back-to-back closings, FHA, flip funding, reo, Short Sale, transactional funding | Leave a Comment »

Loan Modifications – Low Numbers and Treasury Leaning toward Short Sales

Posted on December 12, 2009 by tedakers

According to CNNMoney.com, only about 4% of troubled borrowers have received long-term permanent loan modification help under the Obama administration’s foreclosure prevention program. The number of troubled mortgage borrowers currently in trial loan modifications rose to 697,026, up from 650,994 a month earlier. However the low numbers of permanent modifications are falling far short of the administrations goal to help 4 million homeowners under the $75 billion plan. Mortgage servicers have converted only 31,382 people from trial adjustments to long-term assistance as of Nov. 30 and 30,650 people in trial modifications have been denied permanent modifications. Treasury officials stated the reasons include not making monthly payments on time, not submitting all the necessary paperwork and not qualifying for reasons such as insufficient income. Much of the blame, according to mortgage servicers, is due to borrowers not submitting required paperwork. Wells Fargo reports it is taking them 45 days to approve or deny modifications once a borrower file is complete. “We’re not satisfied yet with how this program is unfolding,” said Treasury Assistant Secretary for Financial Stability Herbert Allison at a House Financial Services hearing.
The good news is that borrowers in modifications are saving an average of more than $550 a month with current modification rates around 5.00%. While it is reasonable to expect the number of approvals into permanent modifications to increase noticeably as pressure continues to be applied to mortgage servicers, the administration and Treasury are clearly leaning toward encouraging short sales as described in my post at: http://www.biggerpockets.com/forums/103/topics/42310-short-sales-encouraged-by-treasury and in the post below

Filed under: Foreclosure, Shortsales | Tagged: Flash Cash, Foreclosure, Short Sale, transactional funding | Leave a Comment »

Short Sales – New Emphasis by Treasury

Posted on December 2, 2009 by tedakers

The US Treasury Department on November 30th announced plans on how to streamline Short Sales. Most agree, although the administration continues to spin it as a success, that the Making Home Affordable program has been less than optimum. Over 650,000 temporary loan modifications have been approved yet much fewer have been approved for permanent modification status, and stories abound of homeowners in the temporary modification status being foreclosed upon with no explanation. Here is a summary recap of the changes that have been enacted:
Qualification:
- Must be the homeowner’s principal residence.
- The mortgage must be less than $729,750
- Homeowner is delinquent on the mortgage or “default looks likely”.
- Homeowners mortgage payment exceeds 31% DTI based on gross income.
- The Loan must have closed before 1/1/09.
The qualification of “or default looks likely” seems to indicate that the borrower does not have to be in default in order to qualify for a short sale, just that a default “looks likely”. It will be interesting to see mortgage servicer responses, and Treasury’s enforcement, to short sale requests when a default “looks likely” but the borrower is not yet late.
Changes enacted:
- $1000 to lenders.
- $1500 to sellers for closing costs or moving expenses.
- Up to $3000 to junior lien holders for release of their lien.
- A minimum of 90 days and up to 1 year to market and sell the property.
- No foreclosure may commence during the marketing period allowed above.
- Servicers may not lower agent commissions after an offer is received.
- Standardized paperwork
- Servicers may not charge borrowers fees to participate.
- the Short Sale Must Fully Discharge the borrower !!!!
- A Short Sale request is to be approved or denied within 10 days
This is positive news for short sale investors as it shifts emphasis toward short sales, allows a defined marketing time without risk of foreclosure to the borrower, prevents reductions in realtor commissions, drastically shortens time frames, fully discharges borrowers, and apparently allows for submission prior to being in default.
Links for related articles from:
Reuters: http://tinyurl.com/yk64mbs
Yahoo News: http://tinyurl.com/ydm43yg
API: http://tinyurl.com/yj35shj

Filed under: Foreclosure, Shortsales | Leave a Comment »

Delinquencies & Foreclosures Record – MBA predicts more REO inventory

Posted on November 19, 2009 by tedakers

WASHINGTON (AP) — A rising proportion of fixed-rate home loans made to people with good credit are sinking into foreclosure, adding to concerns about the strength of the economic recovery.
Driven by rising unemployment, such loans accounted for nearly 33 percent of new foreclosures last quarter. That compares with just 21 percent a year ago, when high-risk subprime loans made during the housing boom were the main reason for default. At the same time, the proportion of homeowners with a mortgage who were either behind on their payments or in foreclosure hit a record-high for the ninth straight quarter.
The Mortgage Bankers Association’s report Thursday suggests the housing market and broader recovery could be thwarted by the continuing surge in home loan defaults, especially as the unemployment rate keeps rising. Lost jobs, rather than the shady loans made during the housing boom, are now the main reason homeowners fall behind on their mortgages.
About 4 million homeowners were either in foreclosure or at least three months behind on their mortgage payments as of September, according to the mortgage bankers group. Even if a quarter of those borrowers are able to stay in their homes, “there’s a lot of potential inventory coming into the market next year,” said Jay Brinkmann, chief economist with the Mortgage Bankers Association.
Those foreclosures will push home prices downward, especially in the hardest-hit California and Florida cities, places that are also coping with soaring unemployment, he said.
The record-high foreclosure numbers are being driven by borrowers with traditional fixed-rate mortgages, rather than the high-risk subprime loans with adjustable rates that triggered the mortgage crisis. Subprime loans with adjustable rates have fallen to 16 percent of new foreclosures from 35 percent a year earlier.
Loans backed by the Federal Housing Administration also show increasing signs of trouble. More than 18 percent of FHA borrowers are at least one payment behind or in foreclosure.
Among states, the worst of the trouble is still concentrated in California, Nevada, Arizona and Florida, which accounted for 44 percent of new foreclosures in the country. Nearly 13 percent of all loans in Florida were in foreclosure, the highest in the U.S., followed by Nevada at more than 9 percent.
The preceeding is a partial reprint of as Associated Press article today. Although it appears to many of us that REO inventory has slowed, foreclosure data and knowledge of outstanding other types of mortgages indicate upcoming opportunity for Short Sale and REO investors.
For low cost Transactional “Flip” Funding visit: www.InvestorFundingSite.com

Filed under: Economic News, Foreclosure, REO-Bank Owned Prop. | Tagged: back-to-back closings, Flash Cash, Foreclosure, Short Sale, shortsale, transactional funding | Leave a Comment »

REO’s Decrease – Short Sales now 35% of Liquidations

Posted on November 18, 2009 by tedakers

A Research Note by Barclays Capital, indicates that short sales have been boosted by mandatory and voluntary foreclosure prevention efforts that have prevented mortgages from entering REO status. As federally-funded loan modifications made through the Home Affordable Modification Program (HAMP) grow and lenders are expected to hold off on foreclosure proceedings, the REO pipeline shrunk, according to BarCap researchers. The foreclosure prevention efforts have had the effect of “artificially” boosting short sales. “The artificial constraints to foreclosure auctions have resulted in a reduction in REO stock,” BarCap said. “As a result, the net volume of REO liquidations has also dropped.
As short sales are not affected by moratoria, their rate held up and their overall share in distressed sales increased. It has now risen more than 10 points from the lows to about 35% of overall liquidations. It remains to be seen if this increase will sustain itself once the large number of loans sitting in foreclosure are finally released into REO.” BarCap researchers pointed to the difference in severity seen in foreclosure and short sale scenarios as one of the drivers behind servicers choosing short sales.
HOWEVER, most experts agree that there is a looming shadow inventory of REO’s yet to come and that foreclosure numbers are likely to stay high thru 2011 due to specific types of outstanding mortgages, specifically Option ARM’s which have a greater liklihood of having values underwater when they recast. Information regarding the Barclays research was provided by Chris McLaughlin.
For low-cost Transactional Funding for Short Sale Back-to-Back closings visit us at: www.InvestorFundingSite.com

Filed under: Foreclosure, REO-Bank Owned Prop., Shortsales | Tagged: back-to-back closings, flip funding, foreclosures, reo, Short Sale, shortsale, transactional funding | Leave a Comment »

Mortgage Delinquencies Up, But Rate of Increases is Slowing

Posted on November 17, 2009 by tedakers

TransUnion has just reported that delinquent mortgages increased to 6.25%, up a whopping 58% from 3.96% a year ago. These are mortgages 60 or more days past due. Two months delinquency is a real step toward foreclosure, as it then becomes more difficult for homeowners to catch up on back payments. HOWEVER, the rate of delinquency is slowing. The rate was up 7.6% from the second quarter — a much smaller jump than the 11.3% rise in the second quarter and a 14% rise seen in the quarter before that. F.J. Guarrera, vice president of TransUnion’s financial services division, says that while the slower rate is encouraging, the continual increase shows there are still a lot of problematic mortgages out there.
Mortgage delinquencies remain highest in the four states where the crisis has hit the worst: in Nevada, the rate reached 14.5%, up from 7.7% a year ago; in Florida, the rate was 13.3%, up from 7.8% last year; in Arizona, the rate hit 10.4%, up from 5.5% in 2008; and in California, the rate jumped to 10.2%, from 5.8% last year. Two things have to get better before mortgage delinquency rates start reversing themselves: home values and unemployment. “Until we see improvement in both of those areas, it’s possible that it will take longer for delinquency to improve,” Guarrera said.
These numbers reinforce that opportunities will continue to be available in the Short Sale and REO businesses for the savy investor.
To your success,
Ted Akers
For low cost Transactional Funding for Back-to-Back flips visit our site at www.InvestorFundingAlternatives.com

Filed under: Economic News, Foreclosure, REO-Bank Owned Prop., Shortsales | Tagged: back-to-back closings, flip funding, Foreclosure, real estate investing, reo, Short Sale, transactional funding | Leave a Comment »

Real Estate Webinars Help Sell More Real Estate Faster

2010-03-21T11:12:00.000-07:00

Real Estate Webinars Help Sell More Real Estate Faster

Commercial Short Sales, The Future WWW Of Real Estate Marketing and Training

2010-03-21T08:48:00.000-07:00

COMMERCIAL SHORT SALES, TOP TEN GOOGLE SEARCH RESULTS, OUT OF OVER 45 MIILION LINKS

2010-03-21T07:19:00.000-07:00

Showing results for Commercial Short Sales. Search instead for Commerical Short Sales

Search Results

Commercial Short Sales | Commercial Property Short Sale
Dec 3, 2009 ... Commercial short sales investment tips and strategy.
commercialshortsales.org/ - Cached
Commercial Short Sale | Short Sell Commercial Real Estate ...
Short Sale Commercial Real Estate For commercial investors, financial hardship occurs when you least expect it. A new shopping plaza opens down the street ...
ishortsale.com/.../Commercial-Properties-Short-Sale-%7C-Short-Sell-Commercial-Real-Estate-%7C-Buildings-Short-Sale-.htm - Cached - Similar
For Commercial Properties Also - I Short Sale | Short Sale Specialists
Raffi Tal, Chief Operating Officer of I Short Sale, Inc. (www.ishortsale.com) reports, "We continue to help borrowers that own commercial properties ...
ishortsale.com/.../Short-Sales:-For-Commercial-Properties-Also?.... - Cached - Similar
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Commercial Short Sales?
6 min - Nov 30, 2009
www.youtube.com
How To Profit from Commercial Real Estate ...
3 min 28 sec - Dec 11, 2009
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Buying Commercial Real Estate Using Tricky Short Sale Tactics ...
Feb 24, 2009 ... Buying Commercial Real Estate Using Tricky Short Sale Tactics - Can You Legally Do It?
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Dec 11, 2009 ... Commercial short sales are right around the corner! The reason is because many commercial real estate loan terms are coming to maturity and.
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Doing a Commercial Short Sale in the Salt Lake Utah Area
This is an assistant in first steps to take in doing a commercial short sale in Salt Lake City, Utah area. Doing a Commercial Short Sale in Salt Lake Utah ...
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Commercial Property Short Sale | MIS University Blog
Dec 14, 2009 ... On our weekly training we are going to be teaching about commercial property short sales and how anyone can get in on the ground floor ...
www.misuniversity.com/blog/tag/commercial-property-short-sale - Cached

Showing results for Commercial Short Sales. Search instead for the original terms: Commerical Short Sales

COMMERCIAL SHORT SALES, TOP TEN GOOGLE SEARCH RESULTS, OUT OF OVER 45 MIILION LINKS

2010-03-21T07:11:00.000-07:00

COMMERCIAL SHORT SALE INVESTOR WRITES BOOK $1 MILLION REASONS YOU SHOULD BE IN COMMERICAL SHORT SALES REAL ESTATE INVESTING- By Earl Allen Boek

2010-03-12T10:33:00.000-08:00

Chapter 1

The Investment Has To Be Done In Your Mind First

My name is Earl Allen Boek. My friends call me Al Boek. As I write this I live in the far reaches of Northern California in a smaller city, much like thousands of other smaller cities across the country. I grew up here in the area salmon fishing and playing football in high school and working in the local food service industries. My family has been here for generations now and I’ve been here for the last 15 years or so, just about the longest period, since my childhood.

My background is not that different perhaps than many of you that will read this. I went into the military when I was 19, when I returned I met and married a childhood sweetheart. We had two boys who both now have children and families of their own. I went to a local junior college on the GI Bill and graduated with an
AA, taking mostly business related classes.

Since I live in an area known mostly for it’s timber and recreation, mountains, streams, rivers and lakes, the pace here and the income potential, compared to places like San Francisco, Los Angles, Honolulu, other places I’ve also lived, is slower and the real estate investment markets are not like anything compared to
these metro areas .

The commercial, distressed/short sale transaction I am about to share with you should not have happened in a place so small, really, but the fact that it did, is good news for you living in the more rural areas of the country. What it means is the information that I am about to share can be of value to you, agreed to maybe different degrees, but still a benefit, no matter where you live.

You should know, I had no credit and no money when I started this transaction. Anything you have in those two areas, better than I did at the time is certainly icing on your cake. Understand had I a choice in the matter I would rather have had some or a bunch of both credit and cash on hand to invest. But what I did have, what I found was a distressed commercial medical office complex.

Even though it had sit empty for three years before I did the transaction and I had
driven by this big empty set of offices on two commercial lots across from the post office in my town nothing happened to it until I made up my mind to purchase it.

So the transaction had to happen first, in my mind before it could have ever happened at all. Looking back I just wish it had happened a year or two sooner. Then again, the three years of nothing happening to it, had done nothing to hurt my chances of success…as it turned out.

I will be including pictures and other documentation of the building lots and the actual offices that were included in the deal as well as back up documentation and proof of everything I write in these pages. Because, frankly, even though we have all heard stories like this one.

When you turn your TV on late at night and hear some pitchman saying how you can begin purchasing real estate with no money down, with no credit, with no nothing. Our minds, quickly take us back to our sanity, telling us that what our minds have created cannot happen in the real world. So after our minds convince us something can’t be done, it seldom is done, that is why I feel you need the proof and back up documentation. Not just a copy of a check, at close, which by the way was $98,600 and change. I’ll also include the written offer, pictures, the closing statements on the deal, the lease/rent registers, the appraisal, so that your mind
figures out what my mind did. Hey, this deal can be done!

You do not believe me MIND? just watch this.

So just realize what I have, the only thing between you and your first deal, or you in your next 100 deals, is the command of that little bit of real estate, right between your ears. You can achieve what you mind can conceive. Can you do it on your first deal? Maybe not, but why not?

My suggestion at this point, is to go get yourself 500 business cards with your name on them and the words Real Estate Investor, just for starters so your mind gets the message. Smile.

So, here’s the transaction scenario. Every transaction has one. A break down of the deal. Goes like this…We have one long building approx 3300 sq ft. with a couple of waiting rooms, ex doctor offices, remember, a nurses station, a coffee break room, several bathrooms, including a handicap one, a large phone and file room, and about 5 or 6 nice office spaces and about a dozen of what were once examination rooms, about 150 sq. ft. ea. Behind this building is another building that would make two nice private doctors offices, each with a waiting room, a nurses/bookkeeping station and another 6 each examination rooms about another 2,500 Sq ft all together in those two attached offices. Behind that building was a nice brick building used for storing records, free standing about the size of a large garage with a roll up door on one side and entry door on the other. So all this real estate is on one commercial parcel and behind that parcel is another bare parcel the same size separated by an alley. The entire transaction, owned free and clear by three older, retired doctors, was being offered for $550,000. All the buildings were at least 30 years old, maybe a little older.

The entire half of city block across from the town post office is listed by a local real estate broker. His listing commission is 5% ($27,500) and if he’s lucky enough to sell it too, it doubles to 10%.

So, in the heart of a little town, this one having 9,000 folks, mostly retired, just 15 minutes south of the town I live in, just off of Interstate 5, heading North to Oregon, or South to Sacramento. It’s possible to do a transaction like this one and create or turn it into your first $1 million dollar transaction.

Ok, there you have it….What do YOU want to offer for it? Maybe first we need to decide what you think you can do with the buildings, that is what can you do, that no one else passing them has not thought of for the past 36 months to turn this empty project into a money maker?

The city was called Anderson, so it was as easy as ABC for me. Anderson Business
Center. Sub leasing small offices to small businesses became my fifth cash flow stream of income.

Sorry, I left out a few others didn’t I? Before I tell you about the other income streams, I think its a real good time for you to consider going online and ordering a LLC, Limited Liability Company. You should not spend over $400 for one. Best to get one from the secretary of state of you State, that’s exactly the same place the web company will be forced to buy it for you. In my state if I go direct the set up is around $200. More respect will be paid you if your offer is made from this kind of investment vehicle, unless you rich and well-known in your city, even then, now you should FOR SURE use this type of vehicle to do real estate transactions and offers with for the asset protection this structure provides. Back to the deal.

The first stream of cash…I needed $1,000 to cover the $1,000 earnest money, I needed $35,000 more to cover the added deposit in thirty days so I could move in and I needed $100,000 in 90 days to close the escrow and take final control of the buildings. So the first cash flow on the building was the $36,000 I borrowed. This would have been a good time to get an extra $4,000 to work with also, and I may have done that, but cannot for the life of me remember doing it.

The second cash flow, got to have a reason for asking for cash, was to cover the $100,000, added deposit which I did. At that point I was given keys to the building and allowed to move in. It was in fair to good shape. So after installing phones and internet, I purchased a banner and started leasing out spaces. Third stream of cash flow.

Then I needed some operating capital, I looked around, and figured I do better hiring a Southern California appraiser than a local one, and asked for his verbal suggestion what the buildings might be worth. Like sales are used for this, same size, the same type of locations, adjusted for my smaller town, market values were compared and then I asked what he thought it all might be worth, leased out? I was stunned when he told me perhaps over $1 million. Actually stunned is not the best word, since by then I had a good handle on the actual value of the transaction to me, from an investor stand-point. None-the-less, at that moment I stepped up my leasing efforts and ordered an appraisal.

Within 3 months, on the strength of the verbal appraisal coming I found an investor and borrowed another $250,000 dollars and closed the transaction, secured by a second deed of trust and a note drawn on the LLC and signed by me as the manager. After all title and escrow fees, bringing the taxes all current on two lots and paying all loan payments 6 months in advance, points, fees and cost. I closed the transaction and was issued a check to the buyer, my LLC of nearly $100,000. Dollars.

Within 6 months of the purchase the property appraised at $950,000. So my fifth cash stream was the appreciation of the building through my fixing up and leasing the offices. A whopping $400,000 dollars or over $66,000 a month since my purchase increase in value. (Appreciation my fifth cash flow from the project of nearly 1 dozen cash flows and related companies founded that 12 mo. period)

But it did not stop there. That is where it all really started. The major portion of the money gross and netted in this transaction was not from appreciation but from what I call association.

Al Boek, is a twenty year licensed real estate loan agent. In no way is
he suggesting you follow his advice or try to duplicate what he had
done at home, smile. However if you do, please contact him he would
like to meet you. All real estate investing should be approached with
care and the proper pre-screened, agents, brokers, attorney, CPA and
other investment experts. Al Boek, has never called himself an expert.
And suggest you proceed with care with anyone that does.

However, he is looking for professionals nationwide who would like
to network with him and build their own commercial investment
business. He suggest a good start, NO COST vehicle here:
http://www.mortgagemod101.com Go to the bottom and click on
Representative and use his name under referral agent and this code.
r426463 You will instantly show up under his list of Reps and
he will be in contact with you and show you how you might take
advantage of the $535 Billion Dollar Commercial Short Sale Market
exploding over the next 24 months. EAB

2010-03-03T09:59:00.000-08:00

HEY!, If your gonna run with the big dogs...

http://msmarketing.gogvo.com/index3.php
Hey, If your gonna run with the big dogs you should watch this 7 minute video now.

http://msmarketing.gogvo.com/index3.php

Commercial Short Sales/Distressed Properties, Al Boek, Your "Agent To The Stars"

2010-03-03T02:38:00.000-08:00

From the desk of Al Boek

March 3rd., 2010

No, this is not a Tony Robbins moment. Even Zig Ziggler would have
a real hard time finding anything positive to say about the future of
real estate in America. The single family housing market has been
in the tank, starting down about the first quarter of 2007, give or take
depending on where you live. Commercial holdings appeared to
hold their own through most of 2007 and seemed the one bright
spot there for a few months. Chase recently in the Huffington
Post (Google It) ran an article called Housing Woes and woe are
we. More foreclosures nationwide, prime, sub-prime and are
any of you folks out there paying back your equity lines at all?
$5.4 Billion in defaulted equity lines predicted by Chase for 2010.

Last week in our own rural city of Redding, California (90,000pop)
in the almost farthest reaches of the North state, 45,000 sq ft. of
commercial real estate closed escrow for $2.6 Mil. OK, you
say that's a handsome figure, except for one thing, this three-
story, empty office complex, located across from city hall had
a $11+ Million dollar first construction loan on it had been
foreclosed on, offered on the court house steps for an opening
bid of over $4 million, with no takers. Folks, that's .20 cents
on the dollar. Perhaps it's time you begin reviewing your
commercial holdings, because we are ramping up, beginning
our online seminar marketing and fully expect to train at least
hundreds, if not thousands in the art of Commercial Short
Sales/Distressed Properties. The biggest shift of wealth since
the Bushes left the Whitehouse with a nations treasury.

Commercial Short Sales, Distressed Commercial, Real Estate Investment Vehicle News and Commentary_ By Al Boek

2010-03-01T19:39:00.001-08:00

From No Credit, No Cash To Over $800K
in nearly a dozen Income Streams on first
deal, over 12 months Period. Proof Available
(I know in the video I say 5 or 6 or something,
income streams but I remembered some others
after recording.)

MY NAME IS EARL ...HOW DO YOU DO..COMMERICAL DISTRESSED PROPERTIES AND SHORT SALES???

2010-02-28T20:06:00.000-08:00

Seriously, If I had the money right now
I would run, not walk to Jason Gilbert's
program. I cannot afford to play in
that arena today...but it's a very
temporary challenge. One of my
associates, old friends or someone that
knows me and knows what I have
been able to accomplish in this industry
and knows I can document it, is going
to step up with me and help me
package this the way it needs to be.

I hope when that happens I'm a little better at returning emails and calls
then some others in this business are. EAB

UNTIL THEN...

LET IT BE KNOWN THAT I CAN DOCUMENT OVER $800k IN
LLC INCOME ON MY FIRST COMMERCIAL DISTRESSED /
SHORT SALE DEAL. IN-FACT I CAN DOCUMENT THAT
WITHOUT ANY CREDIT OR MONEY, AT ALL, I WAS ABLE
TO PURCHASE NEARLY 10,000 SQ FT. OF OFFICE SPACE,
AND ANOTHER ATTACHED COMMERCIAL LOT AND EARN
NEARLY $100,000 DOLLARS IN INCOME AT CLOSE.

Ok , enough yelling, just wanted to make a point here. In
addition to the $100k, through added value strategies, that
I will teach you, if like me, Jason's program is a little rich
for your blood right now, I was able to increase the value of
this (COMPLETELY EMPTY PROPERTY) when I bought
it, an additional $400K in value in just 6 months. Then I
explain how my LLC was able to create about really 10 or
so more income streams bringing the total income first 12
months to over $800K. I'm serious. I have the proof. If
you want to see it, and some of the rest of my ideas
and twenty years of hands on experience in the field
of financing commercial creative lending, all you have
to do is...

agree to forward a postal money order for $250.00 to:

Al Boek
PO Box 887
Bella Vista, CA 96008.

Not only will you get the proof, I promise, but you will

get my attention and my time. Fair enough?

We too will be holding live seminars, the last one I took
5 of my associates to cost me nearly $6,000. we drove
to it in two of my vehicles and never even left the state.

You and I do not need to make that mistake again. First
lesson: Just because you can afford to piss off $6,000.,
have the time, just love to be shaken down, x rayed
have your shoes taken off, and fly half way across the
country... doesn't mean you should.

They have this cool technology now called the internet,
where you can actually have truly virtual offices,
meetings and trainings all over your computer. You
do not have to even comb your hair to go to them,
let alone put on that $5 or $10K worth of wardrobe,
"I promise you'll like the way we roll around here."

Again, let tell you, Jason has his act together. But
it all seems setup to make Jason a lot of money.
Like he says in 1849 it's true that the miners paid a
lot for picks and shovels, but really a lot of Gold
had already been discovered by the miners in
California by 1848. And hey, if you can do even
1/2 of what I will prove to you I was able too, after
I'm done with you, that's about $400 Grand, in
change it all to Gold if you want. Then you can
hit it rich where you live like I did and am about
to do again in California. Smile.

So for those interested in spending a bunch of money
and traveling all over the country...here are some
links for Jason's program...I suggest the rest of you
get some cash in my mail box now...so we can get
started. Please make out your postal money orders
to Al Boek, Send them to PO Box 887, Bella Vista,
CA 96008 Include your resume, experience,
you don't need it, but it's nice if you have it, all
your contact information and where you feel you
going to need the most help with. Fair enough.

This offer is good until I rescind it....You think
it's too hokey dokey, Jason, the self-proclaimed
Guru, will take your money, see links and video
below, don't forget to watch mine below too....

But why not just watch all and read all the infor-
mation I've provided for you here, get a check
and mail it, scan or fax a copy of it too me so
we can get to work.

Note: The above results were accomplished by
a real good investment real estate loan man
with a pretty creative mind. Some say he's
the best they ever seen, this does not mean that
you will experience the same results, but then
again, he seems pretty down to earth and it's only
$250.00 one time, to help cover what he has
put together for me, and with him cutting my
learning and gathering time down, who knows
what's possible, maybe I can do twice as much.
Why in the hell can't I do twice as much, with
him as my mentor? (Honey, I've gotta run to the
post office.) Be the first to call me and tell
me that line would you? Seating is limited.
Be thinking of 5 other folks that you would like
to have working together with you, they will
not be your partners, if you listen to me....Tell
them I want their money too. Smile.

Jason Gilberts Videos Websites

http://www.commercialshortsalesmadeeasy.com/anatomy/

http://www.commercialshortsalesmadeeasy.com/webinar/

http://commercialshortsalesmadeeasy.com/blog/

http://commercialshortsalesmadeeasy.com/blog/#Learn%20Why%20Commercial%20Short%20Sales%20Can%20Make%20You%20VERY%20Wealthy

http://commercialshortsalesmadeeasy.com/blog/#How%20To%20Find%20Commercial%20Short%20Sale%20Deals%20%E2%80%93%20They%20Are%20EVERYWHERE!

http://commercialshortsalesmadeeasy.com/blog/#Your%20Most%20Burning%20Questions%20REVEALED!!!

http://commercialshortsalesmadeeasy.com/blog/#How%20To%20Line%20Up%20A%20Buyer%20For%20Commercial%20Short%20Sales%20in%20HOURS!

http://commercialshortsalesmadeeasy.com/anatomy/

Over $500+ Billion In Commercial Real Estate Loans Coming Due In The Next 2 Years!

2010-02-28T08:16:00.000-08:00

You do not need credit, cash or experience, to cash
in on this huge transfer of wealth...

What has been happening for the last 4 years in residential real estate
is now happening in the commercial markets. The same rules apply,
the same techniques work, the difference? The competition does not
exist yet and the numbers are much, much larger, so is the money you
can earn......EAB

Click Below For Brief Video Presentation

http://www.gogvo.com/evp/video/17676/Investing-In-Commerical-Real-Estate-Short-Sales

One Of The Best Informational Videos On Commerical Short Sales By Jason Gilbert

2010-02-28T05:48:00.000-08:00

http://www.youtube.com/watch?v=-o7uVNdV_nk









 Full Name: 
 Email:

Woe is Me....Oh Well, it's just money...Folks, It Can't Dance and It Can't Walk Away From A Bad Mortgage. Al Boek

2010-02-27T17:16:00.000-08:00

Published today in the Huffington Post Under the Article HOUSING WOES

http://www.huffingtonpost.com/2010/02/24/housing-woes-to-continue_n_475955.html
Wrong, Wrong, Wrong in most cases, do not run away from your home.
Walk away slowly, Bank every dime you can. Take anything you need or
can use in your next home. As the Sheriff pulls up to lock your doors,
drive off carefully and never, ever look back. This is not an emotional
choice it is a business one. If the shoe was on the other foot, you know
what your banker would do, don't you?

Looks like the Blacks and the Mexicans were not the only ones who
bought homes they could not afford. Prime loans, are A paper
borrowers.White folk. Actually they never were to blame, you have to
have a secondary market for the loans, for the loans to be written, no
matter what the interest, business climate or term is.

Next big opportunity, the wealthy commercial building owners who
refi'ed or purchased properties, 4.5 years ago when you and I did on
our homes, $500 Billion now beginning to come due, of a $3.5 Trillion
dollar market. Read more here...
http://distressedcommercialshortsales.blogspot.com/

I figure we all have about 3 years at the most to help them transfer
some of their wealth. Come join me if you'd like. No experience, no
cash, no credit needed. I can prove it. This is not an ad...just a real
honest comment. Hope the information is found worthy for you and
your readers. EAB

Following Comment Was Written over 2 Years Ago by EAB

Results 1 - 10 of about 167,000 for Earl Allen Boek, What Do You
Think The Real Estate Market Will Do, Yahoo.. (0.22 seconds)

Will the real estate market recover in 2008, or keep falling? Why ...

Dec 3, 2007 Others Were Saying....and they called it "the best advice
of 2007-2008." I call it wishful thinking. EAB

... I think the Real Estate Market will take another three years before hitting
the .... Best advice for 2007/2008 .......... you never know what the market will do, ...
answers.yahoo.com › ... › Renting & Real Estate - Cached - Similar -

Will the real estate market recover in 2008, or keep falling? Why?

This question is being asked by a Yahoo! News editor. A portion of
your answer might be used as part of a Yahoo! News special

Earl Allen Boek Said:

It will keep falling. Regarding Home Values across the nation,

Expect additional losses ranging from 10% to 15% thru 2008 and
beyond. The damage to secondary financial markets, investors,
existing homeowners already in default and the real estate market
has already been done. Any rate freezes or bail-out plans are too little
too late. Look for recession to follow.

(If I wrote this today, I would say Look for recession OR WORSE.)

Source(s):

Expert in pre-foreclosures and distressed properties in CA.
Licensed Real Estate Agent, 20 years. Earl Allen Boek
General Acquisitions, LLC Anderson, CA. 530-549-4476

+ Written Over Two Years Ago

STILL TO BIG TO JAIL

Al Boek Is The Pre-Foreclosure Trainer That Trains The Trainers.

2010-02-27T12:51:00.000-08:00

Distressed Commercial Short Sale Investing

CNN Las Vegas Stippers Go Mobil, Pole and All. Imagine my surprise finding my old real estate marketing buddy Larry Beard and his new career move.

Kaching Kaching, 10,000 Churches and Causes, 7 Million Twitter and Facebook Followers Now Being Invited...HELLO!!!

Earl Allen Boek Attention; All International and National

Internet Marketers!

1/3 rd to 1/2 of all recruiting, web-shopping and fundraising happens in the next 90 days. What do YOU have that's better than that? http://kachingkachingfundraisers.blogspot.com/

Kaching Kaching WWW Fundraisers Joins Causes Exchange Link Here & Now!

Start Using Causes

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KACHING KACHING, Inc Sees Growth Right Out Of The Chute _Green Earl

Thursday, August 26, 2010

KaChing, KaChing Video - Review The Comp Plan - Pt.1

Next Bubble: $600 trillion? They Would Rather You Concentrate On The Gulf Disaster, Then This One Coming. Global Green Earl

Next bubble: $600 trillion?

Cities, states, universities could sink from monster derivatives meltdown

Next bubble: $600 trillion? Cities, states, universities could sink from monster derivatives meltdown Source: http://www.wnd.com/index.php?fa=PAGE.view&pageId=143057

Distressed Short Sale Investment...Mortgage Elimination Is Here N.J. judge rules lenders must prove they hold note before they can foreclose on a property

BY JOE TYRRELL

MORTGAGE ELIMNATION $150K Balances Owed and Above SFR Reservations Now Being Taken

Commercial Short Sale-Coming Soon-BEWARE of Chinese Bearing Gifts and EB5 Regional Visa Investment Dollars_By Earl Allen Boek

Commercial Short Sale Properties and What It Takes To Earn A Living At It.

Mortgage Modifications, REO's, Short Sales and Distressed Commercial Properties

COMMERICAL SHORT SALES AND THE MARKET OPPORTUNITIES_Short Sale Pro

YOUR FIRST STEP TO

SHORT SALE WEALTH

Please make sure to

read my comment at

the bottom of this article.

Will Mark-to-Market Finally Push Distress?

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FORECLOSURE ASSISTANCE, LOAD MODIFICATIONS AND ELIMINATIONS

Mortgage foreclosure program on the rocks

Commercial/Residential Eliminate Your Home Mortgage Forever

Distressed Residential Real Estate News, Over 8.5 Million Homes On The Market. Punt!

COMMERCIAL SHORT SALE. IT'S ON! 'THE PERFECT STORM'

Commercial Short Sales, Harvard's Housing Study. Worst Housing Crisis In 50 Years.

Housing Markets...Don't Start The Party Yet, In Fact, Give It A Couple Of More Years...

Home Prices Across The Nation Overpriced, Expect More Drops In Market Value

Tomorrow's Real Estate Trouble Spots

Commercial Real Estate Investing…Are you a Lion, Cheetah, or Hippo?

Commercial Short Sales, REO's Distressed Cities Top 10 Home Owner Slaugterhouses.

10 Cities Facing a Double Whammy of Default Risks

Real Estate Values In "FREE FALL" According To Yahoo Article

Commercial Short Sales. Links I've found Valuable. Return For Updates and Additions. _By Earl Allen Boek

COMMERCIAL SHORT SALES...$1 MILLION REASONS YOU SHOULD BE INVESTING IN COMMERCIAL SHORT SALES_By Earl Allen Boek

COMMERICAL SHORT SALES, LATEST NEWS AND COMMENTARY

Real Estate Webinars Help Sell More Real Estate Faster

Commercial Short Sales, The Future WWW Of Real Estate Marketing and Training

COMMERCIAL SHORT SALES, TOP TEN GOOGLE SEARCH RESULTS, OUT OF OVER 45 MIILION LINKS

Search Results

COMMERCIAL SHORT SALES, TOP TEN GOOGLE SEARCH RESULTS, OUT OF OVER 45 MIILION LINKS

COMMERCIAL SHORT SALE INVESTOR WRITES BOOK $1 MILLION REASONS YOU SHOULD BE IN COMMERICAL SHORT SALES REAL ESTATE INVESTING- By Earl Allen Boek

Commercial Short Sales/Distressed Properties, Al Boek, Your "Agent To The Stars"

Commercial Short Sales, Distressed Commercial, Real Estate Investment Vehicle News and Commentary_ By Al Boek

MY NAME IS EARL ...HOW DO YOU DO..COMMERICAL DISTRESSED PROPERTIES AND SHORT SALES???

Over $500+ Billion In Commercial Real Estate Loans Coming Due In The Next 2 Years!

One Of The Best Informational Videos On Commerical Short Sales By Jason Gilbert

Woe is Me....Oh Well, it's just money...Folks, It Can't Dance and It Can't Walk Away From A Bad Mortgage. Al Boek

Will the real estate market recover in 2008, or keep falling? Why?

Source(s):

Al Boek Is The Pre-Foreclosure Trainer That Trains The Trainers.

1/3 rd to 1/2 of all recruiting, web-shopping and fundraising
happens in the next 90 days. What do YOU have that's
better than that? http://kachingkachingfundraisers.blogspot.com/