Real Estate Network-The Million Dollar Challenge
http://www.youtube.com/watch?v=wk01WSXJYE4
Real Estate Network
The sub-prime mess has created a once-in-a-lifetime business opportunity for you to buy prime commercial real estate such as multi-family at a discount sometimes at 60%-70% of the value of the property.
Interactive-Media-Network is building a real estate network of R E Investors, Private Equity, and Hedge Funds. We would like to present you real estate properties that we will find for you according to the criteria that you give us.
What we want is a team that understands that NOW is the time to invest in real estate. To help us help you please fill out our form so that we have the criteria of what you are looking for. We will send you properties by email and rss feed based on the criteria that you give us.
Please fill out the following form: http://interactive-media-network.com/newsletters/?p=subscribe&id=18 We look forward to working with you. If you have any questions, please contact us.
Short Sales
A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.
In a short sale, the mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank’s loss mitigation or workout department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower’s financial situation.
A short sale typically is executed to prevent a home foreclosure but the decision to proceed with a short sale is predicated on the most economic way for the bank to recover the amount owed on the property. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure. A bank will typically determine the amount of equity (or lack thereof), by determining the probable selling price from a Broker Price Opinion Broker (BPO) (also known as a Broker Opinion of Value or through a valuation of an appraisal. For the home owner, advantages include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency. A short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.
Short sales are common in standard business transactions in recognition that creditors are not doing debtors a favor but, rather, engaging in a business transaction when extending credit. When it makes no business sense or is economically not feasible to retain an asset, businesses default on their loans (called bonds). It is not uncommon for business bonds to trade on the after-market for a small fraction of their face value in realization of the likelihood of these future defaults.
Mortgage lenders do not let a home owner negotiate a short sale as the lender needs to maintain an arms length transaction when it involves economic hardship. We have a network of buyers, short sale negotiators, and real estate brokers and agents that can help you.
Here is how we can work together:
If you are a homeowner who has gone through a hardship, eliminate the repayment provision meaning Short Sale=No tax bill. If you sell your house and it is your original loan you will not owe the difference. You can also buy a house again in 24 months. Deed in lieu or foreclosure-you will not be able to buy another FHA house for 5 years.
Please fill out this form so that we can start helping you. Remember, time is of the essence:
http://interactive-media-network.com/newsletters/?p=subscribe&id=17
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