Posts by this contributor:

    Short Sale Terms

    September 21st, 2011

    What is a short sale? A short sale is the selling of a house for an amount that is lower than the balance left on the mortgage loan. It is a better alternative to foreclosure for both the lender and the borrower because the lender avoids the exorbitant fees that a foreclosure entails and the borrower lessens the negative impact on his credit score, compared to the effect of foreclosure on credit score. Read the rest of this entry “

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    eSignatures for Real Estate Explained

    September 9th, 2011

    Things are going digital at a fast pace, and eSignatures in real estate are proof of that. Depending on your agent, she or he may have you sign some of your contracts and disclosures through a secure webpage online. If you’ve ever signed on a pad for a card purchase at a retail store or supermarket, you’ve applied an eSignature.

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    I Promise To Write Only What I Am Passionate About, And For The Last 7 Years It Has Been Accountability

    July 20th, 2011

    When I transitioned from accounting to real estate in 2004 as a business development rep for Fidelity National Title, I knew no one in the business. A law in TX called “P53” had passed with the Texas Dept of Insurance outlawing title companies to buy business from REALTORS via lavish trips, dinners, parties, marketing ploys, etc. I got there right in time for the paradigm shift to actually earning the business. So, what I realized early on going from salary to base + commission is that there is a lot less supervision and more room for being lax on the job. That was just my observation in my own life; I couldn’t imagine what it would be like to be full commission with no one ever reviewing your performance with virtually no accountability.

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    Accepting A Short Sale Counter Via Equator And Slipping In A Promissory Note Afterwards? What?

    July 4th, 2011

    I’ve had this short sale listing for quite a while. The lender is Nationstar. It’s under 100k, and it’s clearly not going to make me or break me. But when I meet with my seller and commit to helping/saving them, I take that very seriously, no matter how much the house is worth. A foreclosure is a foreclosure, and will do anything and everything to save them. Oh, you should hear the stories… That will be a series of future blog posts. 🙂

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    How To Travel For Real Estate Cheaply

    May 30th, 2011

    Those of us in real estate need to remember to maintain a healthy work/life balance.  Work hard and play hard… Right?  I love this new single by Kenny Chesney called “Live a Little”

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    Short Sale And Short Paper At The Same Time? What?

    March 28th, 2011

    Is anyone double dipping on short sales and buying notes?  If not, they should!  So, how do you that?  Listen closely.

    I’m a broker.  I have a short sale listing.  Clearly, they have missed payments if I’m advertising it’s a short sale, at least 99% of the time.  It was a 500k home until about a year ago.  Now  it’s a home worth 400k.  Unfortunately, the owner still owes 500k.  They are 100k upside down or in the hole.  So, I have it listed, and we get an approved short sale from the lender at 350k.  All the while, I’m talking to the secondary market about their “non-performing” note and secure the purchase of the note at 250k.

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    10 Questions Every Dave Ramsey Fan Should Ask of Their Realtor

    March 22nd, 2011

    Dave Ramsey was right on target when he stated that “not all real estate agents are the same”. It should definitely be a hiring process to choose the right person (fit) for “what is probably the single largest financial investment you will ever make.”

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    Buying The Note (Defaulted Mortgage) From A Well Known Banking Institution

    March 18th, 2011

    What are the Steps involved when I purchase a non-performing note from a big bank?

    Whenever a got wind of a non-performing note or a bulk REO list made it across my desk with a property that was worth pursuing  – I immediately found a way to communicate with the Asset Manager.  We inquired about what protocol works best with their lending guidelines.  The result was that they prefer “one-offs”, which means purchasing ONLY individual notes, not pools.

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    Time Blocking and How It Changes Your Life

    March 7th, 2011

    Here is a sample of my daily schedule.  I don’t always stick to it, but I have a guide.  It’s been quite beneficial in keeping me focused, and I usually end up finishing my work early to have more play time.  Turning my phone and email off outside of specified times have changed my life!  Hope you this motivates you… Read the rest of this entry “

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    The Best Time To Target Property Owners For Short Sale And Non-Performing Note Leads

    February 28th, 2011

    We had an investor inquire about when was the best time to approach homeowners facing financial difficulties to see about working with them to help solve their “hiccup” by listing their home for short sale.

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