Gilbert, Arizona Short Sale

Archive for the ‘Foreclosure’ Category

If you're a property preservation, real estate services, plumbing or foreclosure cleanup company, winterization is a hot service to offer to banks and other lenders who have foreclosed homes. This is especially true right now.

Winterizing More Than a Hundred Homes

According to the October 2008 KAALTV article, Winterizing Foreclosed Homes, in Austin, MN a local plumbing company winterized more than 100 homes, and expected things to get busier as foreclosures continue to escalate.

Why Banks Like for Foreclosed Homes to be Winterized

When a home is foreclosed on, it can sit vacant for months - even over a year in this economy. When a home sits vacant, especially during the winter season, pipes can burst causing water to flood.

Even if the water is turned off, the water that sits in the pipes can cause floods or damaging leaks. And, what follows floods and/or water damage? Mold.

Now imagine this sitting for weeks or months with no one being aware of it.

This is why lenders pay plumbing companies, property preservation companies, real estate services enterprises and/or foreclosure cleanup companies to winterize properties. In the long run, it costs them less money.

If you're a foreclosure clean up company, winterization is an easy service to offer. And, it can be quite lucrative because it is one of those services that banks don't hesitate to pay for, unlike some other services.

So, you may be wondering, exactly . . .

What Is Winterization?

Basically, winterization is protecting a home while it is unoccupied for long periods of times. A lot of this has to do with preventing water from entering a home and pipes from bursting. Another equally important component is dealing with the heating and cooling system.

Following are some things that should be done to a home during the winterization process.

Shut Off Water: This should be done at the main valve or at the inlet to the meter. Once the water is shut off, the meter should be capped - preferably by a professional - so that it can't be turned back on.

Drain Water Heater: Remember, even if the water is turned off, if something happens, water left in pipes or a water heater can still cause flooding.

Drain Pipes: For the same reason as above, this should be done.

Open Faucets: This allows them to drain completely.

Drain Toilets: Be sure to get rid of any excess water left in the tanks; wipe them dry.

Turn Off Heating System: If you have an electric system, make sure it's turned off at the circuit breaker. This prevents the burning up of heating elements.

Turn Off Gas & Electric: Call your local electric company to make sure this is done.

Check for Faulty Faucets and Broken Pipes: If damage is found, make sure it's repaired so that when water is turned back on, there are no leaks.

This is by no means an exhaustive list, but it gives you an idea of what goes into winterizing a home.

HUD Payment Guidelines: Home Much Do Banks Pay for Winterizing a Foreclosed Home

If you're a foreclosure cleaning company and want to offer this service, what you will be paid depends a lot on what HUD pricing guidelines are in many cases. This is because many bank-owned properties fall under HUD.

For example, in the state of Georgia, HUD will pay anywhere from $100 to $460 for winterizing a foreclosed home, depending on the type of heat it has (ie, dry heat, steam heat, wet/radiant heat).

As you can see, this can be a very lucrative service for any foreclosure cleaning company to offer - and it shouldn't take more than a few hours (or less) for a skilled professional to do.

May be reprinted with the following, in full: Learn everything you need to know about how to price winterization services -- and how to price foreclosure cleaning jobs in general -- in The Pricing Guide for Foreclosure Cleaning & Real Estate Service Businesses: How to Price Jobs for Profit, which can be found at Start-a-foreclosure-cleanup-business.com.

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For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.

Are you behind on your mortgage or are you facing foreclosure? Does it scare you that you might not have a place to live for very much longer and you might have to find a place that is not what you are used to? There are ways to save your home and avoid foreclosure if you know what you are doing and what to look for. Here are some tips to help you get loan modification to save your home.

First, you need to know what this is and what you can do to use this type of modification to save your home. You have to meet a few requirements that are pretty easy to meet. Your mortgage, taxes, insurance, and any homeowner dues have to be more than 31% of your gross monthly income combined. This is necessary for you to qualify and you also must be in some sort of financial hardship.

Second, when you get loan modification you are actually getting a new loan with a lower payment and rate that will help you make sure you can make your payments without any issue. This is important and they use your current income and budget to help make sure you will be able to handle your new payment without any issues. This will help you save your home and get back to current. This is why you need to get loan modification on your home.

Last, when you are considering modifying your mortgage you can get a free consultation, which is important because some companies want to charge you thousands just for a consultation. You can actually get it done right online for free. You just fill out a simple little form about yourself and your current mortgage. Then, they will call you the next day or within a couple days to discuss with you what they can do to help you keep your home.

Click Here to discover exactly how to Save your Home from Foreclosure by Modifying your Mortgage!

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Watch Kevin and Fred, Short Sale Specialists, on the Short Sale Power Hour. Video for Short Sale Specialists.

If you're a property preservation, real estate services, plumbing or foreclosure cleanup company, winterization is a hot service to offer to banks and other lenders who have foreclosed homes. This is especially true right now.

Winterizing More Than a Hundred Homes

According to the October 2008 KAALTV article, Winterizing Foreclosed Homes, in Austin, MN a local plumbing company winterized more than 100 homes, and expected things to get busier as foreclosures continue to escalate.

Why Banks Like for Foreclosed Homes to be Winterized

When a home is foreclosed on, it can sit vacant for months - even over a year in this economy. When a home sits vacant, especially during the winter season, pipes can burst causing water to flood.

Even if the water is turned off, the water that sits in the pipes can cause floods or damaging leaks. And, what follows floods and/or water damage? Mold.

Now imagine this sitting for weeks or months with no one being aware of it.

This is why lenders pay plumbing companies, property preservation companies, real estate services enterprises and/or foreclosure cleanup companies to winterize properties. In the long run, it costs them less money.

If you're a foreclosure clean up company, winterization is an easy service to offer. And, it can be quite lucrative because it is one of those services that banks don't hesitate to pay for, unlike some other services.

So, you may be wondering, exactly . . .

What Is Winterization?

Basically, winterization is protecting a home while it is unoccupied for long periods of times. A lot of this has to do with preventing water from entering a home and pipes from bursting. Another equally important component is dealing with the heating and cooling system.

Following are some things that should be done to a home during the winterization process.

Shut Off Water: This should be done at the main valve or at the inlet to the meter. Once the water is shut off, the meter should be capped - preferably by a professional - so that it can't be turned back on.

Drain Water Heater: Remember, even if the water is turned off, if something happens, water left in pipes or a water heater can still cause flooding.

Drain Pipes: For the same reason as above, this should be done.

Open Faucets: This allows them to drain completely.

Drain Toilets: Be sure to get rid of any excess water left in the tanks; wipe them dry.

Turn Off Heating System: If you have an electric system, make sure it's turned off at the circuit breaker. This prevents the burning up of heating elements.

Turn Off Gas & Electric: Call your local electric company to make sure this is done.

Check for Faulty Faucets and Broken Pipes: If damage is found, make sure it's repaired so that when water is turned back on, there are no leaks.

This is by no means an exhaustive list, but it gives you an idea of what goes into winterizing a home.

HUD Payment Guidelines: Home Much Do Banks Pay for Winterizing a Foreclosed Home

If you're a foreclosure cleaning company and want to offer this service, what you will be paid depends a lot on what HUD pricing guidelines are in many cases. This is because many bank-owned properties fall under HUD.

For example, in the state of Georgia, HUD will pay anywhere from $100 to $460 for winterizing a foreclosed home, depending on the type of heat it has (ie, dry heat, steam heat, wet/radiant heat).

As you can see, this can be a very lucrative service for any foreclosure cleaning company to offer - and it shouldn't take more than a few hours (or less) for a skilled professional to do.

May be reprinted with the following, in full: Learn everything you need to know about how to price winterization services -- and how to price foreclosure cleaning jobs in general -- in The Pricing Guide for Foreclosure Cleaning & Real Estate Service Businesses: How to Price Jobs for Profit, which can be found at Start-a-foreclosure-cleanup-business.com.

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Watch Kevin Kauffman and Fred Weaver of Group 46:10, Short Sale Specialists, on the daily Short Sale Power Hour.

Buying a foreclosure is much easier than you might think. Most people have the notion that dealing with banks will be a hassle, and bank officers are only looking to say "no" when ever they can. Not so. Banks are in the business of lending money for a return. Owning property is not part of their business plan. So don't be intimidated by dealing with banks.

Here are some things you need to consider as you pursue the purchase of a foreclosure.

First, foreclosed properties will be bought "as is". That is, what you see is what you get. The bank has not done any upkeep or fixed any parts of the property as, again, that's not the business they are in. So make sure you hire a reputable property inspector. And here's a hint: when you have found an inspector who will work for you, tell the bank you are willing to shorten the inspection period you require. Sometimes they will jump on this idea as they are just wanting to get rid of the property as quickly as possible.

Second, know the neighborhood. Even in these times, the standard real estate axiom applies: buy the worst property in the best neighborhood. Unless, of course, you plan on living on the property. But even then, you want to protect your investment by buying in a good neighborhood.

The bank will generally use two tactics when accepting offers. First, they will take offers up to an appointed time then toss out all but the top two. They will then ask you for your best offer and/or your final offer. The bank wants to get as much money from you as possible, like any seller. Second, they might accept the first decent offer they get.

Finally, there are real estate professionals in your town that have represented and sold foreclosed properties. Your agent should be able to get for you some critical information that you will need. Such as: comparable sales, pending sales, and the number of offers on the property. Of course, the number of offers on a property will impact the offer you come in with. And your real estate professional will submit your pre-approval letter to the bank so that they know your offer is legitimate. But, again, when finding a professional that you need to trust, ask around.

If you happen to live in the California's bay area there are many areas that offer great deals on foreclosed homes. Two of the areas I would recommend are Hollister Ca homes for sale and San Jose Ca homes for sale.

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There are two main components to the average home going into foreclosure: uncertainty and inaction. More times than not when you speak with someone who has lost their home, the most common statements are "I didn't know what to do" and "I just kept hoping that it would all go away."

It doesn't have to be this way.

The first thing to do when facing the possibility of foreclosure is to take an unbiased look at the current financial situation. Is it going to change...really change? Hoping that the problems will go away doesn't usually help. If you were sick, would you hope you got better or would you see a doctor? If hanging onto a hope is all there is, then it's time to take some definite actions.

If you need to sell your home, there are two steps to take.

The first is gain knowledge. The homes value and mortgage owed is the first part. Then a plan must be developed whereby the home can be sold fast, days not months. This means an untraditional sale. Lease Options fill that ticket. They are the best method to sell a home fast in a declining economy. They are safe, legal, and done on a daily basis. The only thing to consider is that they must be understood and executed properly. A poorly executed plan of any sort is not advised. So the first thing to do is to go out and learn the proper way to execute a lease option.

The second step is to take action. This is where you put the knowledge gained in the first step to work. Get the word out, market, and let prospective buyers that there is a home on the market and ready to sell. Despite what the banks will tell you, this will work. As a side note, the only reason the banks won't tell you about lease options, is that you keep the money.

Are you willing to put some effort into learning the proper way to conduct a lease option? Are you willing to put in some minor work? If so, and if you need to sell your home, then please do yourself a favor. Take action today. That home is one of the single most important investments many of us will ever make. Don't let it be taken away when you stand to make not just money upfront, but a genuine monthly cash flow as well. You can do it!

As a Lease Option expert, Steven Morse is the co-founder of SelfBailout.com where he is the resident real estate expert and the driving force behind the Home Selling Advantage Course. This invaluable course shows how homeowner's can sell their homes quickly, safely, and profitably...even in today's tough economy. http://www.selfbailout.com

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Yes, free foreclosure listings are often for real. If you are unsure about whether such information do not hesitate to ask your friends and neighbors what they know about the situation. It never would hurt to ask a true professional within the world of real estate. It is always good to have several eyes on a subject being able to verify the veracity of real estate based information. A real estate professional can also check their documents and sources to see if the information on a site regarding prices is indeed accurate. If they are able to come to the conclusion that the pricing information is inaccurate then the entire list may indeed be a scam.

You want to see reasonable prices on a part of the list at the list. If you do not see anything on the list that is within your price range do not try to stretch your checkbook too much. People such as major economists believe that part of the reason why there was a housing crisis was because of some people buying houses they couldn't afford. Even though many people believe the foreclosure crisis was also caused by people being damaged by predatory loan practices, that wasn't the entire story. Even the most liberal and socialistic or sympathetic to poor people as far as economists go admit that people were simply spending too much. The New Times op-ed writer and Princeton professor Paul Krugman even concedes that some of the fault belongs to the small consumers as opposed to the larger corporations. The corporations did tend to gamble with these mortgages and that tends to have houses end up on free listings.

You can also check with groups like consumer affairs to make sure the inexpensive information on these lists is accurate. Consumer advocate Ralph Nader may even have a group or connections to make sure that housing information within a place like Baltimore, Maryland is accurate. There may be state legislators who would be willing to check to make sure such information is accurate.

By the way, by researching and comparing the best free foreclosure listings services in the market, you will be able to determine the one that meets your specific requirements, plus the free or cheaper options. This way you will save time through up to date foreclosure listings and money by getting better results over your investment.

Hector Milla runs the Free Home Foreclosure Listings website, where you can see a review of the best rated free foreclosure listing service.

Read our full reviews, plus hundreds of articles and video training about this subject.

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With the economy at its lowest point in memory and unemployment at historically high levels, you may be concerned about your economic future. As you track the news, the buzz surrounding plummeting home values always includes a discussion of foreclosure. It seems that more and more people have to foreclose on their homes. Perhaps you are struggling financially, and you are wondering if foreclosure is a possibility for your home. Maybe you've heard about a loan modification or a mortgage modification as an alternative to foreclosure, but you are unsure as to what any of that means.

A foreclosure is when the legal ownership of a home ends. In other words, the lending institution that holds your mortgage takes your house and you have no more legal rights to it. This often happens when the monthly mortgage payments have not been made. Usually, the lending institution will sell the house at an auction and use the money from the sale of the house to pay down the remaining mortgage debt.

The current administration is trying to help homeowners avoid foreclosure by working with lenders to offer loan modifications to their customers. A mortgage modification can help you avoid foreclosure when your lending institution changes a portion of the mortgage agreement so that you can afford the monthly mortgage payments. The mortgage holder can reduce the interest rate on the mortgage, or they can lengthen the term of the loan and reduce the interest rate. Changing one or both of these terms of the mortgage will lower the monthly mortgage payments. The goal is for the homeowner to avoid foreclosure and keep their house.

Before deciding that foreclosure is your only option during this difficult economic climate, consider loan modification. Likely you will need to summarize your monthly income and your monthly expenses. You will also need to write a hardship letter along with your application.

If you are serious about mortgage modification, you should look into getting a home loan modification kit. One such kit is 60 minute loan modification; it is basically a loan modification encyclopedia. The kit includes outlines of properly written hardship letters, important information about all major lenders, important to know terms and vocabulary and much more.

If you want to learn more about loan modification and 60 minute loan modification click here

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For anyone who might be thinking of whether to file personal bankruptcy, it's a good idea to think of the long term impact of bankruptcy versus any other way of fixing your credit problem. One of the big issues facing many people today is the threat of foreclosure on their home, compared to bankruptcy. It's not an apples to apples comparison, but here are some issues to consider.

First, foreclosure is another debt, just like a credit card. If you default on your home loan, the lender can take your house, or foreclose on the note. If you are behind on a car loan, the lender will take back your car. Either of these are major bad credit events, and will result in a drop in your credit score.

Bankruptcy however is a situation where multiple debts are either discharged, or wiped away, by a bankruptcy court, or you instead set up a plan to repay. While credit agencies won't specify which is worse or by how much, avoiding multiple debts in bankruptcy means that many creditors were left unpaid. For secured creditors, however, like mortgage companies or car financing companies, they did get back a portion of their loan through repossessing your home or car.

If you aren't sure whether to file bankruptcy or let the bank take your home, there are multiple issues for your to consider. Many times, you can file bankruptcy and lose your home in foreclosure anyway, as a secured mortgage lender can ask the bank to allow them to sell your home and get paid that way. This would happen in Chapter 7 more than Chapter 13 bankruptcies. In Chapter 13 bankruptcies, you will be setting up a repayment schedule, which could help you keep your home and make payments according to the repayment plan you set up with the bankruptcy court. In this case, the bankruptcy court could stop your home fro being sold, if you are making approved payments, thereby avoiding foreclosure.

Whether to file bankruptcy or let your home go to foreclosure will depend on your specific situation, your income, your total debt, and your other expenses. It's best to make an appointment with an attorney to discuss whether a bankruptcy could actually help you save your home and avoid foreclosure. You might decide that your primary concern is to save your home, and not worry about your credit score. You can rebuild your credit score after bankruptcy, but buying a home or saving the one you have is much tougher. Talk with a credit counseling agency or bankruptcy attorney before you decide whether bankruptcy is worse than foreclosure for you and your family.

Do you need to decide right away whether to go through bankruptcy or foreclosure? You can find more about filing personal bankruptcy at BankruptcyHelpOnline.

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With the economy at its lowest point in memory and unemployment at historically high levels, you may be concerned about your economic future. As you track the news, the buzz surrounding plummeting home values always includes a discussion of foreclosure. It seems that more and more people have to foreclose on their homes. Perhaps you are struggling financially, and you are wondering if foreclosure is a possibility for your home. Maybe you've heard about a loan modification or a mortgage modification as an alternative to foreclosure, but you are unsure as to what any of that means.

A foreclosure is when the legal ownership of a home ends. In other words, the lending institution that holds your mortgage takes your house and you have no more legal rights to it. This often happens when the monthly mortgage payments have not been made. Usually, the lending institution will sell the house at an auction and use the money from the sale of the house to pay down the remaining mortgage debt.

The current administration is trying to help homeowners avoid foreclosure by working with lenders to offer loan modifications to their customers. A mortgage modification can help you avoid foreclosure when your lending institution changes a portion of the mortgage agreement so that you can afford the monthly mortgage payments. The mortgage holder can reduce the interest rate on the mortgage, or they can lengthen the term of the loan and reduce the interest rate. Changing one or both of these terms of the mortgage will lower the monthly mortgage payments. The goal is for the homeowner to avoid foreclosure and keep their house.

Before deciding that foreclosure is your only option during this difficult economic climate, consider loan modification. Likely you will need to summarize your monthly income and your monthly expenses. You will also need to write a hardship letter along with your application.

If you are serious about mortgage modification, you should look into getting a home loan modification kit. One such kit is 60 minute loan modification; it is basically a loan modification encyclopedia. The kit includes outlines of properly written hardship letters, important information about all major lenders, important to know terms and vocabulary and much more.

If you want to learn more about loan modification and 60 minute loan modification click here

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From the Sciencedaily.com website, August 2009: The nation's home foreclosure epidemic may be taking its toll on Americans' health as well as their wallets. Nearly half of people studied while undergoing foreclosure reported depressive symptoms, and 37 percent met screening criteria for major depression, according to new University of Pennsylvania School of Medicine research .... Many also reported an inability to afford prescription drugs, and skipping meals. The authors say their findings should serve as a call for policy makers to tie health interventions into their response to the nation's ongoing housing crisis.

This study follows the pattern of typical studies ginned up to encourage more government intervention into people's lives. The pattern is usually as follows: find a problem that most people recognize as a problem, find some casualties, suggest that some kind of new program will reduce the casualties, advocate the creation and funding of the new program. Stir and repeat.

As everyone knows, going through hard times, such as foreclosure or the loss of a job or spouse, cause some people to feel bad. In this case, the bad feelings are identified as depression--sometimes minor, sometimes major. But note the ginning up of the statistics. This study reports that less than half the study participants reported 'depressive symptoms.' What are depressive symptoms? For the purpose of studies such as this a depressive symptom could be something as simple as checking off a box on a questionnaire that asks if you feel bad. Truly, simple as that. If you feel bad after receiving a foreclosure notice you demonstrate a depressive symptom.

Actually, come to think of it, who doesn't show a depressive symptom after receiving a foreclosure notice? It is an odd person indeed who doesn't show at least some signs of depression after receiving a foreclosure notice. Which raises another question: How in the world did less than half the participants in this study NOT show depressive symptoms after receiving a foreclosure notice. Is this study trying to imply that most people are so dense that even a threat to their homes doesn't get them to notice and react?

The next step, after getting a warning foreclosure notice and reacting by feeling bad (or not reacting, which most people in this study seem to do) is action. This study found that people who show depressive symptoms tend not to be able to afford prescription drugs and tend to skip meals. We'll leave the meals aside for a moment, since we have no baseline data. Are people who receive foreclosure notices over- or underweight? Is the loss of a meal good or bad for their health? Is there a correlation between obesity and foreclosure? We don't know and won't speculate here. Let's just say that skipping a meal or two or three is not a serious issue for most Americans. Until proven otherwise, the inclusion of the loss of meals in this study seems trivial and/or unnecessary.

Prescription drugs. Is it any wonder that people in an economic crisis such as foreclosure tend not afford or choose not to afford prescription drugs? If they can't afford the roof over their heads is it likely they'll have spare change to afford prescription drugs? Two things can be said about the affordability of prescription drugs.

One, many, if not most, prescription drug manufacturers have programs to make their drugs available at low or no cost for people in economic tough straits. All a person in economic trouble need do is apply to the manufacturer's program. Manufacturers are very willing to ride in on a white horse and help people in trouble. In fact, it makes a lot of sense to apply to these programs because they very often make the drugs available for free. That kind of makes it better for people to be poor than to be average economically. The poor often get for free from manufacturers something that can cost the average person quite a bit.

Two, more and more studies have been published recently which indicate that most prescription medications for depression don't work. They do not do much better than placebos (sugar pills). There has been quite a bit of debate recently about the effectiveness of prescription depression medication, so not exposing more people to them might be a very good thing. Over-the-counter medication, alternative medications (such as herbal and ayurvedic) may work just as well as those expensive prescription drugs. This question is up in the air at this period of time. So encouraging something that might do more harm than help (at the very least, might do more economic harm to the buyer in foreclosure tough times) is questionable medicine.

Of course, the linked article suggests new, expansive, expensive government-funded programs to 'solve' this problem--the problem of cheering up the fewer than fifty percent of the population going through foreclosure who feel bad. There is zero evidence that programs such as the kind of thing recommended in the linked article work. There is zero evidence that people want this kind of government-sponsored intervention in their lives, especially during weak moments. There is no evidence how much such programs cost and how much they will add to the tax burden, thus causing even more people to be unable to afford housing because their money is being siphoned off for these unproven but sure to be elaborate and expensive programs.

Suggestion: be wary of advocates of expensive new programs that attempt to treat problems that people have dealt with for centuries in the past bt their own means. Some people want to take away your liberty to line their pockets in the guise of 'doing good.'

Noo Yawka has many blogs on many topics. This article fits the theme of his blog http://www.joblossrepair.info

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