15 Sep 08 
Buy and Bail: Making The Rule Work For You. Part II
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If you missed Part I of this post you should read it because this rant may not mean too much to you without it.
Sometimes the housing market can be a bit much for people and they get frustrated. Let’s see one persons opinion and let me know if you share her thoughts.
HI Brent
I find the whole situation just backward.
Banks loaned money to people they KNEW could not afford a 800,000 house….all hell breaks loose and now those of us who had and still have excellent credit will not be able to get a house unless we jump through hoops to get it….we still have credit scores in the 800’s….YES…I said 800’s……
we have bought and sold 5 houses in the last few years (we moved a lot) and ALWAYS came out great after each sell….but we have NEVER had 20% to put down…we always did around 10 to 15% then got an 80/20 for the remaining amount….
we made 60,000 on our last sell and then moved back to V. and paid 382,000 for our current townhouse…put 30,000 down, and then put 10,000 in remodeling, and we still have 20,000 in the bank….but now unless we come up with the full 20% a bank will not loan to us?????? i just don’t get it…..
we are just staying here for another year and scratching the money aside so that if we do find a REO Home we really like we can try to jump on it….there is no way we make enough money to cover two loans…..so that option is out for us….
i am just sick of this whole thing…..but thank you for getting back to me….
C.
____________________________________
It’s interesting, I appreciate the email and I can see how frustrating this whole situation can be. You may not be the person who is committing fraud but there is no way for us to convince the bank otherwise!
Keep your head down and focus because there will come that moment when this all goes away and those paying the most attention will reap the biggest financial rewards.
Brent Lane
The Lane Group
www.thelanegroup.blogspot.com
Tags: bank loan, brent lane, buy and bail, credit crunch, credit score, down payment, fha, home loan information, housing market, mortgage loan, real estate owned, reo, the lane group
19 Jun 08 List of Real Estate Forums
For those of you who wish to learn from real estate professionals in your area, or perhaps wish to learn about national real estate developments and news, and even worldwide real estate issues, real estate forums are a great resource. Real estate forums are also helpful for building relevant backlinks to your real estate related website while contributing and sharing your thoughts and ideas with other forum members.
Below is a list of the most popular real estate forums on the web, we hope many of you find this list helpful. If that’s the case please take a moment to bookmark this page to your favorite social media websites by clicking the ‘Bookmark’ link below.
Forum / PR / (ranked from lowest to highest Alexa rank)
www.realestatewebmasters.com/forum.php 5
www.forums.biggerpockets.com 3
www.prorealestatenetwork.com 1
www.tucsonrealestateforum.com 2
Tags: active rain forum, agents online forum, bigger pockets forum, forums real estate, list of real estate forums, pro real estate network, re forums, Real Estate, real estate advice, real estate agents forums, real estate discuss, real estate forum, real estate investing, real estate owned, real estate webmasters forum, real estate websites, team aguilar, tucson real estate forum, world property links
06 Jun 08 Foreclosure Auction for Phoenix Real Estate
The Real Estate Disposition Corp. has scheduled a massive auction this weekend for homes that have foreclosed and are in possession of lenders. The event, to be held at the Phoenix Convention Center, will start at 9:30 a.m. Saturday morning; an estimated 450 properties will be up for auction over the course of the two-day event.
Home auctions, both foreclosure auctions and new home auctions, have become increasingly more common over the past six months. Home builders have helped to reduce their inventories by utilizing auctions, and as lenders are repossessing more homes due to the ever increasing rate of foreclosures, they are finding that auctions are an effective method to reduce their real estate owned.
Of course homebuyers are also in favor of buying their next home from auctions too, as they are receiving large discounts for the properties they purchase. One report suggested that homes valued at around $300,000 will have a starting bid of under $100,000.
Learn more about this weekend’s auction in Phoenix and other home auctions across the nation by visiting USHomeAuction.com.
Tags: band owned, foreclosure auction, home auction, Home Builders, homebuyers, phoenix convention center, phoenix real estate, real estate disposition corp, real estate owned, reo
