About Short Sales

For the past several years, the number of home foreclosures has been steadily increasing and it seems that there is little chance for the situation to improve itself. The people who are affected by home foreclosures are not just people who foolishly choose to blow off paying their bills. The reality is that they tend to be individuals who have had some bad experiences financially or who have been taken advantage of by unscrupulous lenders.

There have been very few people who signed a mortgage agreement with the intent of losing their home. Additionally, very few would agree to loan that they know they would be unable to pay back on time. Yet, there have been some lending practices that convince people that their financial situation will get better before they fall into bankruptcy and that the equity in their home can help them out of trouble when it is needed.

Many lenders, however, are not all that concerned about the financial well being of their clients. The many foreclosures that are filed for on a daily basis prove this.

When someone wants to buy a home and are turned down by traditional lenders, they often seek out those who make loans to high-risk borrowers. The initial interest rate may be in line with other opportunities but if the buyer is even a few minutes late with a payment, depending on the loan agreement, the interest rate can soar.

Foreclosures often occur just a few short months after loan payments start to increase because of such interest rates.

The Blame Goes to Both Lenders and Borrowers

During times of a high rate of home foreclosures most lenders place the blame on the home buyers, claiming they did not take their financial responsibilities seriously. However, after looking at the trends in home foreclosures, it may become obvious that some of the lenders did not take seriously the need to make loans to person who had the financial ability to repay them.

Even though both sides are right in some ways, the point is that only the homeowners and their loved ones lose when foreclosure happens. If a lending agency decides to allow someone to borrow a loan who shouldn’t, they will be able to recoup losses through a sheriff’s auction of the property in question. When foreclosure is a serious threat, borrowers tend to work to find various ways to not lose their homes.

Buying a home at a foreclosure auction could be perfect for you if you are interested in purchasing a home for the lowest price possible. The courts will determine the price of foreclosure homes, which is most commonly below the market valued price of the home. If the lending agency that forecloses on the home requests that they do so, the court can use three different appraisals to determine the value of foreclosed property. These appraisals can be appealed by the lender, however.

For several weeks before the foreclosure auction is held, advertisements will be published. Remember that in the majority of states the house must sell for at least two thirds of the appraised value it was given. You should also keep in mind that there are not usually a lot of people trying to find inexpensive homes at foreclosure auctions.

Foreclosure auctions tend to be very simple events and the only people in attendance are often the lender who started the foreclosure process and one or two people who are thinking about buying the property. A foreclosure auction where lots of people attend and more than two or three separate bids are made would be a rare occurrence.

Be Prepared To Buy The House

The person who wins the bid on a foreclosure home is expected to present 10% of the price that was bid when the auction is over with. That payment can be made by cash, money order, or a certified cashier’s check.

Personal checks as well as credit cards are not usually accepted at these auctions. If the winning bidder is unable to produce the required down payment, foreclosure auctions will usually resell the house right then.

Winning bidders are responsible for obtaining mortgage loans for the balance of the foreclosure auctions’ price within an established time limit, normally 30 days, and if unable to find appropriate funding, will lose not only their right to buy the house, but also the 10 percent deposit they put down on the house. Most people to buy a house through foreclosure auctions will have their financing in place before placing a bid.

When a home has to be sold a second time because of the first winner’s inability to pay, the first winning bidder may have to pay any difference in price between their winning bid and the second one, besides losing out on their 10% payment. Remember that winning a bid of a foreclosure home is like entering into a contract and the auction sales are final.

There’s one common theme that shows up over and over in emails, blog posts, Ask campaigns and phone calls. Year after year, it’s always the same. But I don’t think I ever realized the extent of what you were asking for, until now. Do you know what I’m talking about?

You want a short cut, not just a process, but a short cut for the system, a short cut for the program, the Cliff notes of the book, you want the magic pill.

Poof, it’s done.

Actually, now that I’m writing this I can think of a couple Internet marketing things I’d like that magic pill for myself, but I’ve never found one and I don’t believe it really exists.

I’m not saying it’s an inherently bad thing to want it boiled down to the barest of effort, to almost eliminate the learning curve. I know it’s not that you’re lazy. I get that you’re totally and frustratingly overwhelmed. There’s way too much information and too many offers and too many programs that say you can’t live without this new and improved tool that will instantly transform your business.

In very few instances that may be true.

But it’s not always possible. Most of the time there is some level of work on your part and a learning curve involved. How much time, money and effort will vary depending on what you’re doing and also to a certain extent what level of success you choose to achieve.

You do consciously or sub-consciously choose your level of success by choosing your level of commitment and the level of education you decide to buy. Yes, I said buy, because most high level education that leads to lasting success is something you buy. From a $7 report to a $100,000 a year mentoring program. You choose.

I understand your financial ability plays a role in what you buy, but you need to understand that your financial situation will rarely shift on it’s own without you taking a leap of faith and possibly putting something on a credit card, or a few credit cards. In the first 2 years I was learning this business I built up quite a library of resource that helped me grow and I was initially putting out a lot more money than I was taking in. I took a leap of faith. Without doing that I don’t believe I would be where I am today.

Most people need more to be successful than just one quick fix and thats what Ive been thinking about the last few days. Ive been asking myself how can I put together all the different pieces I teach into a cohesive package that delivers exactly what you need.

So I’ve laid all the piece out here for you. If you think there’s one you need right now grab it and run with it.

There are 4 areas that will help you build your business and also allow you to live the life of your dreams. It’s a process and you need to cover all four areas to sustain the success you build.

1. Introspection: Who are you? What do you want in your life? What will make you change?

2. Out-Picturing: What is your passion? How are you going to design and create the life of your dreams? What will the business be that funds all this?

3. Sales and Communication Skills: How are you going to speak to your target market about what you’ve created? What kind of branding,marketing materials, sales copy, talks, presentations are you going to create to bring in new clients? What is going to be the foundation of how you speak your business in the world? How will you learn to effectively communicate with your clients?

4. Putting It All Together and Growing: Where will you get the tools, strategies,and training to continuously take your business and your life to the next level?

Here’s some of your comments that have been keeping me up at night working on a way to put it all together to give you the easiest, most streamlined solution:

“Ive spent the last 2 years or so chasing the wind online (and spending a ton!) but learning all the outer ring aspects like marketing, sales copy, writing articles, etc., etc., etc.I just cant find that niche for me.”

“I feel like Im tied up because once I get that piece of the puzzle I think I could move rather quickly. But like you said, most of the material out today doesnt really show or teach you how to dig that outmost assume you already have that or just tell you to use PLR materials which I really dont want to do.”

I know I have side stepped topics in the past because of this has already been addressed only to see someone else recycle the topic in a new package.

“you are talking directly to me about the expert that discourages you from getting out there with your message.”

“I have always been known as an ideas guy, but I am miserable at putting things into action.”

“…multiple interest, but when it comes to narrowing choices down and implementation, I fail miserably”

“To actually hone in on a certain niche, and be able to express my single most passion has been a trying journey. Spending untold dollars on courses on both personal development, and learning the ways of internet marketing has been continual, but now it is time to stop and just go for it.”

“Converting ones true passion into a monetarily successful reality can be daunting.”

All 4 elements are essential even if you feel like you have one specific piece that’s holding you back. The thing is, you’re willing to go there at a different rate of speed and to a different depth than someone else may be. And then there are the fears-known or unknown-that have kept you where you are right now, or at least moving forward much slower than what’s possible for you. Honestly, if it wasnt scary for you on some level, you would have already done it. And most often the blocks you are aware of are the symptoms, not the cause.

If youre ready to get your life on track and build a business that will have a solid foundation, then the best way to do that is to take the weekend and get it done. If you want everything all wrapped up into one neat little package, a stripped down ‘essentials only’ system to getting past all the concerns that are expressed in the comments below, I’ve been listening to the requests for a live event.

The questions you want to ask yourself are, “how much is it costing me to take lesser action in my life today than what I know is possible? And how long am I willing to settle for less?”

It is possible to move past all of these concerns in a matter of hours, just one short weekend. Are you ready?