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Hey Everyone,
I just heard about the flip rules changing again. Be ready and take a look.

Give me a call if you or your clients need to get set up for a loan.

Ryan Hoffman
Loan Officer
Wholesale Capital Corp.
23328 Olivewood Plaza Drive
Moreno Valley CA 92553
Direct: 951-488-3114
Fax: 951-488-3214
Cell: 951-312-8650

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Not familiar with how seamlessly our different departments work together? Take a look and give me a call if you have a fianncing question or need to help your buyers get qualified.

Ryan Hoffman
Loan Officer
Wholesale Capital Corp.
23328 Olivewood Plaza Drive
Moreno Valley CA 92553
Direct: 951-488-3114
Fax: 951-488-3214
Cell: 951-312-8650
Email: RHoffman@wccloans.com

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Technorati Tags: Amount, Angeles, bank, broker, Business, California, cash, City, conv, conventional, Corp, Corporation, county, credit, Diego, direct, equity, FHA, finance, financial, Government, H.A.R.P., HARP, home, insurance, interest, la, lender, loan, Los, los angeles, low, LTV, moreno valley, mortgage, murrieta, no, off, orange, Own, pay, Payoff, program, rate, refianance, rent, Riverside, San, Temecula, Terms, Underwater, VA, vs, Wholesale Capital

this example shows the benefits of buying vs Renting. Note that if you live outside a metropolitan area such as LA or San Diego you can expect your benefit to be much much better. In Riverside county for example you can save about $400 a month without ever taking into account tax savings or appreciation.

Give me a call and we can discuss your specific situation.

Ryan Hoffman
Loan Officer
Wholesale Capital Corp.
23328 Olivewood Plaza Drive
Moreno Valley CA 92553
Direct: 951-488-3114
Fax: 951-488-3214
Cell: 951-312-8650
Email: RHoffman@wccloans.com

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Technorati Tags: Amount, Angeles, bank, broker, Business, California, cash, City, conv, conventional, Corp, Corporation, county, credit, Diego, direct, equity, FHA, finance, financial, Government, H.A.R.P., HARP, home, insurance, interest, la, lender, loan, Los, los angeles, low, LTV, moreno valley, mortgage, murrieta, no, off, orange, Own, pay, Payoff, program, rate, refianance, rent, Riverside, San, Temecula, Terms, Underwater, VA, vs, Wholesale Capital

We’ll update you with another video once we have the full guidelines, but for now it looks good and everyone should be ready so we can refinance as soon as we know.

Ryan Hoffman
Loan officer
Wholesale Capital Corp
951-488-3114
RHoffman@wccloans.com

Duration : 0:2:49

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The ShredShack was created to help spread the word regarding the Only REAL help available to those with mortgages underwater or upside-down.

Tired of talking to countless Bank representatives, State Departments, private non-profit companies, and Attorneys who all talk about modifying only the conditions of your loan, but not the Principal Balance / Loan Amount??? Tired of these representatives asking that you fill-out countless amounts of forms, only to asked months later that you to fill even more forms?

Tired of no one REALLY helping with regard to a REAL aggressive solution such as fixing the LARGEST issue at hand — your mortgage Principal Reduction on the Balance??

Look no further. Upon qualification, you can experience True solutions that will modify Term, Conditions, and effectively write an entirely new mortgage for you.

The Shred Shack is the Leader as we exercise the only technique currently available within the U.S. to offer such a result.

The TRUTH is that the banks have already been bailed out by the tax payer (you), so they have very little incentive to behave in a way that will offer you real aggressive assistance. I’m sure youve discovered this notion to be simply insult to an already very deep injury. AND WE AGREE.

What we offer is actually not a modification at all, but a re-finance option that will not only change your conditions and overall balance, but write a brand new mortgage for your property.

Best of all, you have nothing to loose, as we do all the negotiating, all the internal paperwork, all the processing, and charge you NOTHING upfront while we work for you. All you pay are the closing costs.

Best – Best of all, we do not commit to working on this plan on your behalf unless we believe we can close your new mortgage allowing you the security and piece-of-mind that all you will owe on the new mortgage is a new principal balance of 5% LESS than current Market Value for your property! Yes, you heard right, well structure this so you gain equity!

Join me for my live radio show or view my video clips for copies of prerecorded shows as well as presentations regarding this amazing opportunity.

e-mail me here for more info and to apply online!

InLiberty!

Ricardo

Great site: !!
What Would the Founders Do? – WWFD
InLiberty.com

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http://realestatemarketingthisweek.com – New Fannie Mae Streamline Loan Modifications may do more harm than good

Part 5 –

We do realize that there are situations that people are in that they want to be out of and we want to move past. We have back in the studio, the author of Real Estates Future also the author of The Foreclosure Sharks white paper, a fantastic manual that he has put together that you can get for free. Dan Havey thank you very much for coming back. You can get a copy of the white paper The Foreclosure Sharks at http://mortgageanswerman.com.

So Dan I know that you have brought the just recently released new Fannie Mae, Freddie Mac guidelines, with their streamlined modification process. This is the kind of thing where the consumer can go and do-it themselves, right?

Yes, except that we would certainly advise against that. These are the guidelines that Fannie Mae came out with; they are effective as of a couple weeks ago now. But with Christmas and the holidays I dont think a whole lot of people have figured out what this is all about yet. So as we said in the last segment the guidelines that they have come out with here, and what I have is a print out but I dont know that this is the whole thing because I have heard some commentary on this that actually says that it is much worse then I am about to relay to everyone on the air.

I am just going to pick out a couple points about this and then I will let Michael laugh about them because some of these things are just crazy in the fact that it doesnt really help the home owner and I also dont think it is going to move us past the conditions we have to get people some really good loan modifications, the kind of loan modifications that we are talking about where you actually employ an attorney to help you with your loan modification.

The reality of it is we need to get through this mess we dont need to stave it off, push it out further and in my opinion that is what this does. That is exactly what is going on here, there was an article I was reading by Fitch, which is one of the major bond rating firms and that is exactly what they said. They said that the alt-A arms are all coming back to roost now, I think the default rate was over 14% on all alt-A arms, being at least 90 days past due. And the comment in the article was something like, well we havent really seen a lot of losses from it yet and then it said in a caveat at the end, and we think its because they are not really foreclosing on any of these guys yet, so that is why they havent seen any losses. Well if you keep pushing it off into the future eventually you are going to have to see some of these losses.

We have the same thing here with Fannie Mae, which I think it is just another band-aid; it is not going to really solve the problem. First what they have here, and this one is pretty benign, that once they give you the new mortgage payment you have a three month trial period. If you make the payments during that trial period they let you keep the modification. So that one is not so bad.

The next one says that the qualified borrower cant be in litigation, bankruptcy, or have an existing work out plan, and you have to be at least 3 months behind or in foreclosure in order to be eligible for this streamline.

Ok I get to comment right? SO basically what Fannie Mae and Freddie Mac just told everyone, according to this that I am reading right here, Fannie Mae and Freddie Mac just told you to be 90 days late on your mortgage. That is exactly right, they said that the only way they were going to be able to help you was to be 90 days late on your mortgage.

So I have been, over the past several months, heck Dan you helped us put together the package, you are the cofounder of the modification hotline and I am on the radio every week when we do a little blip about load mods from time to time, saying dont trust anybody who tells you to be late on your mortgage. First of all no loan professional, no mortgage professional, no loan modification specialist will tell you to be late on your mortgage, however, Fannie Mae and Freddie Mac just said you need to be at least 90 days late on your mortgage if you want them to help you.

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http://realestatemarketingthisweek.com/loan-modification/attorney-negotiated-loan-modification-process-going-thru-the-legal-door/ – Attorney negotiated loan modification process. Going thru the Legal Door –

Part 7 – We have Dan Havey with us talking about loan modifications. This segment we want to talk about the specifics of the actual mechanics of, how does it actually work for the homeowner? Let me just start it off and if you would then explain the back end of how it works. Our job is to determine where you’re at now, be very specific about where you’re at with your mortgage now, what the rate is, what it’s done, those specifics. How much you make? We have to help the lender with one thing which is to establish a hardship which is crucial to this. You can’t be making half $1 million a year paying $5000 a month in a mortgage, they are not just going to lower your interest rate because you want it. There actually has to be some sort of change, financial change, hardship.

We determined that and then there is a significant amount of paperwork involved, Velocity Financial takes care of that for you. We fill out the paperwork along with your help, review all of the documentation, we then recommend be right loan modification, whether it be an interest rate reduction, or extending the term of your loan, waiving some of the balance that you owe which is very very rare. To make sure that once we’re done with this whole process you can sustain and live in that house and be happy forever.

So the process itself really is not that much different than what people went through when they got their loan in the first place. That is correct and it’s kind of funny, this has to be exactly the reverse. There is paperwork that we need to collect on your mortgages, we check the value of the property to see where you’re at and in most cases youre underwater with the value. We dont do an appraisal though, there is no credit analysis, we do review your finances, and these sorts of things but essentially it’s just like doing a loan. What we’re trying to determine is exactly what is sustainable for you.

So what we do at the modification hotline at Velocity Financial is to put together the entire package, just like we do for a loan package because we basically send this to a underwriter, theyre not known as an underwriter they’re known as a loan modification coordinator but at modification hotline we are the first set of eyes. We work with you directly, getting all the paperwork in, getting it put together because we know exactly what has to be in that file, how it has to be stacked, how it has to be presented, before it goes to the loan modification coordinator who works for the attorney.

Then once it is at the attorneys office with their modification coordinator, they take a look at it, they make sure that everything is in there, they make sure that it is a doable modification. This all happens before it is ever presented to an attorney.

There are a whole lot of steps and there is a lot of paperwork. The process like you said is very similar to a loan with the exception that there are no costs of the title company and all that other stuff. Those dont exist, we dont charge an upfront fee, and we do collect a retainer for the attorney. At some point during our process we make our recommendations and we turn it in. Then the attorney does their due diligence and thats where I really want you to explain what happens, what are these attorneys looking for?

Well this is where it completely goes off track, versus what a homeowner would do if they were doing their own modification, because they would do everything we just talked about, they would fill out the paperwork, get together tax returns, pay stubs, whatever the lender wanted and they would present all of it to the lender. Now they probably wouldn’t know exactly how to stack some of the paperwork, and how to calculate some of the things that we know how to calculate, but they would put all that they work together.

Where the difference comes in is once it gets to the attorney because the attorney ultimately wants to get you a loan modification but they can’t just call up the bank and say hey I want loan modification, because he is going to get the same result you did. So what he has to do is he has to go through the file, and he has to look for things like, I am going to use a bunch of acronyms here, he’s looking for things like TILA, RESPA, HOEPA, HUD violations, all these different guidelines that the lender was required to meet while giving you the loan… http://RealEstateMarketingThisWeek.com

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Seattle / Bellevue Real Estate Mortgage Rate Watch: No Auctions & No Economic Data leads to a week that may come to the benefit of Mortgage Rates.

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Technorati Tags: Administration, Affordable, bellevue, estate, home, interest, mortgage, obama, program, rates, real, refinance, seattle, unemployment report, watch

Today we’re going to quickly go over variable rate mortgages and the convertibility or “lock-in” feature that you get with most variable rate mortgages. I personally am a huge fan of variable rates and I would take a variable mortgage myself, however I find that a lot of people who are considering a variable are actually considering it for the wrong reasons and the convertibility feature is the main one.

Read more: http://www.suttonmember.com/blog

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Today we are going to discuss the trade-off between rising mortgage rates and falling home prices. We know a lot of you want to buy a home, and have dreams of home ownership, maybe a year down the line or maybe more than that. You are hoping home prices will fall so you can afford to buy a bigger place, so you get more value for your money.

We came across this Globe and Mail article where an analyst looked into this situation and he actually found out that in most scenarios you will end up coming out behind! The reason for this is that a higher mortgage rate would actually end up eating up all your savings. Per month your mortgage payments would still end up costing you more because of a higher interest rate and if you had to deal with that higher interest rate to begin with you would qualify for a smaller mortgage amount and a smaller purchase price, so you might not even be looking at the same properties that you are looking at right now.

This might be of concern to you, if you have time we encourage you to speak with your mortgage broker and your REALTOR® to see if your financial strategy is appropriate, and also if this plan is appropriate for the area you are looking in because you are counting on home prices falling, which may not happen .

For more information:
Visit www.finderfin.com
Email: info@finderfin.com
Tel: 1-866-924-5244

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