Archive for March, 2009

Current mortgage rates drop; Refinance applications climb
The Mortgage Bankers Association reports today that rates on 30-year mortgages fell from 4.89 percent last week to a current figure of 4.63 percent. Unsurprisingly, the refinance rate jumped as a result, increasing 72.9 percent during that span as opportunistic homeowners scrambled to reduce their existing interest rates. In fact, more than 75 percent of those [...]

The Mortgage Bankers Association reports today that rates on 30-year mortgages fell from 4.89 percent last week to a current figure of 4.63 percent. Unsurprisingly, the refinance rate jumped as a result, increasing 72.9 percent during that span as opportunistic homeowners scrambled to reduce their existing interest rates.

In fact, more than 75 percent of those applicants were current homeowners and the remainder came from new homebuyers.

An Associated Press report tells us how it all came to be:

“Interest rates have plunged since the Federal Reserve said in November it would buy up to $500 billion in mortgage-backed securities in an effort to bolster the long-suffering housing market. Last week, the Federal Reserve went further, announcing a $1.2 trillion effort to lower rates on mortgages and other consumer debt in a bid to revive the economy. The effort includes buying up to $300 billion in long-term government bonds and $750 billion in mortgage-backed securities guaranteed by Fannie Made and Freddie Mac.”

Up until recently most homeowners were unable to take advantage of the great rates because of the collective nosedive that the housing market took in the past few years. They became upside-down on their mortgages, meaning that they owed their lenders more than their homes were worth .

Refinancing under those conditions was next to impossible.

The good news is things are a little different now thanks to the “Making Home Affordable” program, which was introduced on March 4 to “stimulate” the housing market and reduce interest rates/loan amounts for homeowners struggling to meet their monthly mortgage obligations.

For more on the particulars of that program click here.

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586

Who’s Still Investing in Real Estate? - Wall Street Journal Blogs

HispanicBusiness.com

Who’s Still Investing in Real Estate? Wall Street Journal Blogs, NY However, amid continued gloom in the housing market, it raises the question of who still is investing in real estate. Vacation-home buyers appear to be taking advantage of reduced prices, and are more interested in long-term value than investment. ... Second-home sales declined in 2008 Philadelphia Inquirer Hundreds of Realtors flock to Naples for national meeting this week Naples Daily News Second-home sales dip reflects national trend Sarasota Herald-Tribune Real Estate Channel - St. Louis Post-Dispatch all 265 news articles

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586

Hypo Real Chief Says Government Control Will Restore Confidence - Bloomberg

Spiegel Online

Hypo Real Chief Says Government Control Will Restore Confidence Bloomberg J. Christopher Flowers and Richard S. Mully, who lead a group of investors that together owns about 24 percent in Hypo Real Estate, said last week that they were leaving the lender’s supervisory board because of “possible measures to be taken by the ... * Germany buys 8.7 percent stake in Hypo Real Estate guardian.co.uk TIMELINE-Hypo Real Estate's path to nationalisation Reuters Hypo RE Reports EUR5.46B Net Loss 08;Sees More Losses Wall Street Journal AFP - Wall Street Journal all 122 news articles

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586

Real estate investment trusts report large losses - Las Vegas Sun

Real estate investment trusts report large losses Las Vegas Sun, NV By Steve Green A pair of Las Vegas real estate investment trusts operated by businessman Michael Shustek are reporting big losses for 2008, as the recession pushed numerous borrowers into default. Vestin Realty Mortgage I Inc. said it lost $21.5 ...

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586

Profit by Investing in Real Estate Tax Liens introduces an investment alternative that is safe, secured by real estate, administered by the government, involves no brokers, is enforced by state law, and gives fixed returns.

Selling tax liens or tax deeds (depending on the state) are the two ways that counties across the country bring delinquent property taxes up-to-date. This investment is one of the least publicized and safest ways of investing in real estate, designed to give the investor either a fixed return, as in the case of investing in tax liens, or a property for 10 to 50 cents on the dollar, as in the case of a tax deed sale. In most situations, the property is ultimately transferred free of any liens, such as mortgages.

Profit by Investing in Real Estate Tax Liens also debunks the common myth that tax delinquent properties are run-down and shows that liens exist on every type of property. Author Larry Loftis, an attorney and active investor, has purchased liens on properties owned by Julius ""Dr. J"" Erving, Hector ""Macho"" Camacho (world champion boxer), Chase Manhattan Bank, LaSalle National Bank, and even a building whose major tenant was the local sheriff's department!

In this authoritative guide, Loftis helps investors avoid the pitfalls while answering all the key questions they need to consider:

* What's the difference between investing in tax liens and tax deeds?

* How does an investor go about bidding at tax sales? And what is the process?

* What are the different requirements in each state?

* Where are the greatest risks in this kind of real estate investing?

For investors eager to get started, Loftis's action plan provides details on the next steps to take, while real-life examples in every chapter bring the concepts down to earth.

The Second Edition is updated and revised including:

*A new section on using the internet to purchase liens across the country.

*New and updated information for tax and other laws affecting the purchasing of tax liens.

*Updated forms, contracts, and sample letters.
Customer Review: Profit by Investing in Real Estate Tax Liens: Earn Safe, Secured, and Fixed Returns Every Time
I bought Profit by Investing in Real Estate Tax Liens: Earn Safe, Secured, and Fixed Returns Every Time and Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days-Investing Without Losing Series (Investing Without Losing. Investing in Real Estate Liens was a better book with more detail.
Customer Review: A "must-read" of both basic and advanced tips for anyone considering investing in real estate tax liens.
Now in an updated second edition, Profit by Investing in Real Estate Tax Liens: Earn Safe, Secured, and Fixed Returns Every Time is a straightforward guide to making money through relatively safe investment in tax liens (sometimes called tax deeds, depending on one's state). Profit by Investing in Real Estate Tax Liens covers how to purchase tax liens or deeds on the Internet, the difference between tax liens and deeds, a walkthrough of the bidding process at tax sales, the requirements of tax liens and tax deeds as well as how they differ from state to state, how to protect oneself against the most threatening risks, and much more. Author and Florida attorney Larry Loftis has literally millions of dollars' worth of experience in real estate investing; he presents the ins and outs of these lucrative opportunities a straightforward, easy-to-follow terms for readers of all backgrounds. "...many properties can be bought for very low prices, perhaps for even pennies on the dollar. However, many properties are not worth buying! For example, you might buy a vacant lot that is so small it is unbuildable. Or the lot is configured in such a strange way that it is also unbuildable, except possibly for use as a parking lot. In other cases, the property might be under water or next to or part of a drainage ditch! So in tax deed investing, rule number one is always to personally view the property." A "must-read" of both basic and advanced tips for anyone considering investing in real estate tax liens. Read More

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586

Current mortgage rates drop; Refinance applications climb
The Mortgage Bankers Association reports today that rates on 30-year mortgages fell from 4.89 percent last week to a current figure of 4.63 percent. Unsurprisingly, the refinance rate jumped as a result, increasing 72.9 percent during that span as opportunistic homeowners scrambled to reduce their existing interest rates. In fact, more than 75 percent of those [...]

The Mortgage Bankers Association reports today that rates on 30-year mortgages fell from 4.89 percent last week to a current figure of 4.63 percent. Unsurprisingly, the refinance rate jumped as a result, increasing 72.9 percent during that span as opportunistic homeowners scrambled to reduce their existing interest rates.

In fact, more than 75 percent of those applicants were current homeowners and the remainder came from new homebuyers.

An Associated Press report tells us how it all came to be:

“Interest rates have plunged since the Federal Reserve said in November it would buy up to $500 billion in mortgage-backed securities in an effort to bolster the long-suffering housing market. Last week, the Federal Reserve went further, announcing a $1.2 trillion effort to lower rates on mortgages and other consumer debt in a bid to revive the economy. The effort includes buying up to $300 billion in long-term government bonds and $750 billion in mortgage-backed securities guaranteed by Fannie Made and Freddie Mac.”

Up until recently most homeowners were unable to take advantage of the great rates because of the collective nosedive that the housing market took in the past few years. They became upside-down on their mortgages, meaning that they owed their lenders more than their homes were worth .

Refinancing under those conditions was next to impossible.

The good news is things are a little different now thanks to the “Making Home Affordable” program, which was introduced on March 4 to “stimulate” the housing market and reduce interest rates/loan amounts for homeowners struggling to meet their monthly mortgage obligations.

For more on the particulars of that program click here.

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586

FINANCIAL STOCKS Commercial real estate leads sector lower Friday - MarketWatch

FINANCIAL STOCKS Commercial real estate leads sector lower Friday MarketWatch Retail real estate investment trusts have been hit especially hard amid the recession, as slowing consumer spending means customers aren't buying from their tenants, which means tenants are going out of business or can't pay rent. ...

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586

FINANCIAL STOCKS Commercial real estate leads sector lower Friday - MarketWatch

FINANCIAL STOCKS Commercial real estate leads sector lower Friday MarketWatch Retail real estate investment trusts have been hit especially hard amid the recession, as slowing consumer spending means customers aren't buying from their tenants, which means tenants are going out of business or can't pay rent. ...

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586

Cave House foreclosure rescue effort underway in Missouri
Curtis Sleeper and his cave-dwelling family appear to have found a way to remain in their one-of-kind 15,000 square foot home inside a Festus, Mo., cave. Associated Press reports that a 15-year low-interest mortgage contract has been offered to help the Sleeper’s extend their stay indefinitely, which is of course cause for celebration. Here’s a snip from [...]

Curtis Sleeper and his cave-dwelling family appear to have found a way to remain in their one-of-kind 15,000 square foot home inside a Festus, Mo., cave.

Associated Press reports that a 15-year low-interest mortgage contract has been offered to help the Sleeper’s extend their stay indefinitely, which is of course cause for celebration.

Here’s a snip from Mr. Sleeper on the positive development:

“We’re excited about it. We’re throwing a party at a friend’s cave…. It’s certainly been almost life changing — except I’m keeping my cave, so not that life changing. I’d love to hear the end of the story read, ‘and they lived happily ever after.’”

It sounds like it will. And he more than likely has himself to thank for it after an impressive local grassroots public relations effort turned into a major national story.

Indeed, his initial listing on eBay to sell the home, which is situated on a scenic three-acre lot, at a starting bid of $300,000, as well as his heartfelt story behind its creation, was an Internet and cable news sensation.

For more details on the amenities and all the blood, sweat and tears that went into building “Cave House” be sure to check out Sleeper’s very detailed Web site right here. And to check out the eBay listing go here.

But be sure to do it fast before the Sleeper’s spelunk back into the cozy confines of their cave and return to relative obscurity.

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586

Current mortgage rates drop; Refinance applications climb
The Mortgage Bankers Association reports today that rates on 30-year mortgages fell from 4.89 percent last week to a current figure of 4.63 percent. Unsurprisingly, the refinance rate jumped as a result, increasing 72.9 percent during that span as opportunistic homeowners scrambled to reduce their existing interest rates. In fact, more than 75 percent of those [...]

The Mortgage Bankers Association reports today that rates on 30-year mortgages fell from 4.89 percent last week to a current figure of 4.63 percent. Unsurprisingly, the refinance rate jumped as a result, increasing 72.9 percent during that span as opportunistic homeowners scrambled to reduce their existing interest rates.

In fact, more than 75 percent of those applicants were current homeowners and the remainder came from new homebuyers.

An Associated Press report tells us how it all came to be:

“Interest rates have plunged since the Federal Reserve said in November it would buy up to $500 billion in mortgage-backed securities in an effort to bolster the long-suffering housing market. Last week, the Federal Reserve went further, announcing a $1.2 trillion effort to lower rates on mortgages and other consumer debt in a bid to revive the economy. The effort includes buying up to $300 billion in long-term government bonds and $750 billion in mortgage-backed securities guaranteed by Fannie Made and Freddie Mac.”

Up until recently most homeowners were unable to take advantage of the great rates because of the collective nosedive that the housing market took in the past few years. They became upside-down on their mortgages, meaning that they owed their lenders more than their homes were worth .

Refinancing under those conditions was next to impossible.

The good news is things are a little different now thanks to the “Making Home Affordable” program, which was introduced on March 4 to “stimulate” the housing market and reduce interest rates/loan amounts for homeowners struggling to meet their monthly mortgage obligations.

For more on the particulars of that program click here.

ForeclosuresReal EstateBank ReposHunting Ranches

1 Bid

US $.99

8h 15m

222tr Arkansas Land Foreclosure Sale AR Real Estate NR

4 Bids

US $127.50

8h 48m

http://www.phpbay.com/affiliates/jrox.php?id=1586