Archive for January, 2010

Nicolas Cage financial problems continue with foreclosure in Las Vegas
This is certainly not the encore Nicolas Cage anticipated for his Academy Award-winning performance in “Leaving Las Vegas.” Las Vegas Sun reports that a 14,300-square-foot “Sin City” home that Cage purchased for $8.5 million in 2006 was recently sold for $4.95 million. The six-bedroom, seven-and-a-half bathroom “sprawling mansion,” which is located at 5100 Spanish Heights Drive, was [...]

This is certainly not the encore Nicolas Cage anticipated for his Academy Award-winning performance in “Leaving Las Vegas.”

Las Vegas Sun reports that a 14,300-square-foot “Sin City” home that Cage purchased for $8.5 million in 2006 was recently sold for $4.95 million.

The six-bedroom, seven-and-a-half bathroom “sprawling mansion,” which is located at 5100 Spanish Heights Drive, was repossessed by the lender in Dec. 2009 when Cage failed to meet his mortgage obligations.

Cage, unfortunately, is no stranger to foreclosure lately.

In Nov. 2009 he walked away from two million-dollar homes in New Orleans, La., for “unpaid mortgage debts.” In addition, there was a home in California that was also reportedly seized.

Cage — was recently ranked 45 on “The 2009 Celebrity 100″ from Forbes.com, earning an estimated $40 million from June 2008 to June 2009 — has attributed his recent financial troubles on “an incompetent business manager.”

He admits that he currently owes the Internal Revenue Service (IRS) about $14 million in back taxes. Throughout his illustrious acting career Cage says he has forked over at least $70 million to Uncle Sam.

For more on Cage, including his other brush with foreclosure and vast real estate portfolio, click here. Remember to also check out our comprehensive “Celebrity Foreclosure” archive right here.

THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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

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THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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

Luther Elliss: Foreclosure sacks former Detroit Lions defensive lineman
Nine-year National Football League (NFL) veteran, Luther Elliss, is on the verge of losing his Detroit, Mich.,-area home in Oakland Township to foreclosure, according to The Detroit News. Elliss — who was paid almost $11.6 million from 2000-04 as a member of the Detroit Lions — has a $1.6 million loan on the home. Unfortunately, he’s [...]

Nine-year National Football League (NFL) veteran, Luther Elliss, is on the verge of losing his Detroit, Mich.,-area home in Oakland Township to foreclosure, according to The Detroit News.

Elliss — who was paid almost $11.6 million from 2000-04 as a member of the Detroit Lions — has a $1.6 million loan on the home. Unfortunately, he’s now upside-down on the loan because, according to recent estimates, it  would sell for just about half as much today ($800,000) if listed on the market.

Accordingly, he has had to file for Chapter 7 bankruptcy protection, listing $4.4 million in liabilities against $1.38 million in assets.

The two-time Pro Bowl selection (1999 and 2000) was apparently warned earlier in his career that financial distress was a very real possibility:

“The Lions did a good job, they put on financial programs that we had to attend talking about investing and saving money, gave statistics on how many of us would be broke. Guys were saying, ‘It’s not going to be me, I’m too smart for that.’ And here I am, one of those guys.”

Elliss reportedly invested his fortune into several business ventures that eventually went belly up, including a manufacturing company called Trinity Armor.

He — along with his wife and their 11 children — plan to walk away from the Oakland Township home and start over. Elliss currently earns a $347,410 annual pension from the NFL, which will hopefully keep the family afloat during this difficult time.

To check out other celebrity-type foreclosures, including the field where Elliss spent most of his playing days inside the Silverdome, click here.

THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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

Largest foreclosure listing …
… it could be the 80-acre, 110-building Peter Cooper Village and Stuyvesant Town apartment complex in Manhattan (New York City): Associated Press reports that Tishman Speyer Properties and BlackRock Realty, which purchased “Stuy Town” for a jaw-dropping $5.4 billion in 2006, couldn’t make a $16 million loan payment due Jan. 8, 2010. As a result, the complex [...]

… it could be the 80-acre, 110-building Peter Cooper Village and Stuyvesant Town apartment complex in Manhattan (New York City):

Associated Press reports that Tishman Speyer Properties and BlackRock Realty, which purchased “Stuy Town” for a jaw-dropping $5.4 billion in 2006, couldn’t make a $16 million loan payment due Jan. 8, 2010.

As a result, the complex will be turned over to creditors. Tishman Speyer and BlackRock, meanwhile, will continue to manage the properties to ensure a smooth transition.

It sounds like a massive undertaking … just like the initial investment.

THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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

Nicolas Cage financial problems continue with foreclosure in Las Vegas
This is certainly not the encore Nicolas Cage anticipated for his Academy Award-winning performance in “Leaving Las Vegas.” Las Vegas Sun reports that a 14,300-square-foot “Sin City” home that Cage purchased for $8.5 million in 2006 was recently sold for $4.95 million. The six-bedroom, seven-and-a-half bathroom “sprawling mansion,” which is located at 5100 Spanish Heights Drive, was [...]

This is certainly not the encore Nicolas Cage anticipated for his Academy Award-winning performance in “Leaving Las Vegas.”

Las Vegas Sun reports that a 14,300-square-foot “Sin City” home that Cage purchased for $8.5 million in 2006 was recently sold for $4.95 million.

The six-bedroom, seven-and-a-half bathroom “sprawling mansion,” which is located at 5100 Spanish Heights Drive, was repossessed by the lender in Dec. 2009 when Cage failed to meet his mortgage obligations.

Cage, unfortunately, is no stranger to foreclosure lately.

In Nov. 2009 he walked away from two million-dollar homes in New Orleans, La., for “unpaid mortgage debts.” In addition, there was a home in California that was also reportedly seized.

Cage — was recently ranked 45 on “The 2009 Celebrity 100″ from Forbes.com, earning an estimated $40 million from June 2008 to June 2009 — has attributed his recent financial troubles on “an incompetent business manager.”

He admits that he currently owes the Internal Revenue Service (IRS) about $14 million in back taxes. Throughout his illustrious acting career Cage says he has forked over at least $70 million to Uncle Sam.

For more on Cage, including his other brush with foreclosure and vast real estate portfolio, click here. Remember to also check out our comprehensive “Celebrity Foreclosure” archive right here.

THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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

Nicolas Cage financial problems continue with foreclosure in Las Vegas
This is certainly not the encore Nicolas Cage anticipated for his Academy Award-winning performance in “Leaving Las Vegas.” Las Vegas Sun reports that a 14,300-square-foot “Sin City” home that Cage purchased for $8.5 million in 2006 was recently sold for $4.95 million. The six-bedroom, seven-and-a-half bathroom “sprawling mansion,” which is located at 5100 Spanish Heights Drive, was [...]

This is certainly not the encore Nicolas Cage anticipated for his Academy Award-winning performance in “Leaving Las Vegas.”

Las Vegas Sun reports that a 14,300-square-foot “Sin City” home that Cage purchased for $8.5 million in 2006 was recently sold for $4.95 million.

The six-bedroom, seven-and-a-half bathroom “sprawling mansion,” which is located at 5100 Spanish Heights Drive, was repossessed by the lender in Dec. 2009 when Cage failed to meet his mortgage obligations.

Cage, unfortunately, is no stranger to foreclosure lately.

In Nov. 2009 he walked away from two million-dollar homes in New Orleans, La., for “unpaid mortgage debts.” In addition, there was a home in California that was also reportedly seized.

Cage — was recently ranked 45 on “The 2009 Celebrity 100″ from Forbes.com, earning an estimated $40 million from June 2008 to June 2009 — has attributed his recent financial troubles on “an incompetent business manager.”

He admits that he currently owes the Internal Revenue Service (IRS) about $14 million in back taxes. Throughout his illustrious acting career Cage says he has forked over at least $70 million to Uncle Sam.

For more on Cage, including his other brush with foreclosure and vast real estate portfolio, click here. Remember to also check out our comprehensive “Celebrity Foreclosure” archive right here.

THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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

Short sale agent training
Foreclosure.com today announced that it has enhanced its industry-leading real estate agent training curriculum, which is administered through Agent University, adding the Certified Short Sale Agent (CSSA) program to its growing list of education offerings. Short sale transactions will comprise a significant amount of business for real estate agents for the next three to five years. [...]

Foreclosure.com today announced that it has enhanced its industry-leading real estate agent training curriculum, which is administered through Agent University, adding the Certified Short Sale Agent (CSSA) program to its growing list of education offerings.

Short sale transactions will comprise a significant amount of business for real estate agents for the next three to five years. The sheer volume of defaults today is just too much for loss mitigation departments everywhere to handle efficiently without outside assistance.

Additionally, with new guidelines like HAFA emerging, banks, servicers and investors are looking to short sales as a viable foreclosure alternative.

Success in short sale transactions requires a high degree of expertise to complete successfully — CSSA training provides professionals with the tools and resources to capitalize on this market trend and make short sales a profitable part of their business.

“Short sales are a fantastic way for distressed homeowners, lenders, buyers and agents to make the best out of bad situations,” said Foreclosure.com Director of Education Linda Yates. “CSSA training teaches agents how to bring all these parties together and coordinate the fastest closings possible.”

From marketing to negotiating to selling, CSSA training provides agents with the knowledge and skills to expedite a process that is often referred to anything but “short.” In fact, graduates learn how to streamline their deals so there is no more lost paperwork, delays and/or surprises, as well as obtain listings in their areas direct from major lenders.

“I would recommend this class to any agent who wants to learn about the short sale industry,” said Marva Reefer of Zip Realty, in Merrick, N.Y., who recently attended a live on-site training opportunity in New York City. Reefer was able to complete most of the entire certification process in the day-long comprehensive workshop.

For more information regarding the Foreclosure.com Certified Short Sale Agent program please visit http://agentuniversity.foreclosure.com/cssa/index.html or call us at (866) 382-4445.

About Foreclosure.com Agent University
Foreclosure.com Agent University offers serious real estate professionals the best selection of training opportunities and certification programs available in the industry today. Our designations are universally recognized as the standard of excellence. Certified agents stand out among their peers, closing more deals and earning higher commissions. We provide agents with invaluable knowledge, skills and tools that ensure consistent success … even in the most challenging markets. Our industry-leading certification programs, Certified Foreclosure Agent and Certified Short Sale Agent, offer varying degrees of participation at the lowest possible prices.

THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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

Luther Elliss: Foreclosure sacks former Detroit Lions defensive lineman
Nine-year National Football League (NFL) veteran, Luther Elliss, is on the verge of losing his Detroit, Mich.,-area home in Oakland Township to foreclosure, according to The Detroit News. Elliss — who was paid almost $11.6 million from 2000-04 as a member of the Detroit Lions — has a $1.6 million loan on the home. Unfortunately, he’s [...]

Nine-year National Football League (NFL) veteran, Luther Elliss, is on the verge of losing his Detroit, Mich.,-area home in Oakland Township to foreclosure, according to The Detroit News.

Elliss — who was paid almost $11.6 million from 2000-04 as a member of the Detroit Lions — has a $1.6 million loan on the home. Unfortunately, he’s now upside-down on the loan because, according to recent estimates, it  would sell for just about half as much today ($800,000) if listed on the market.

Accordingly, he has had to file for Chapter 7 bankruptcy protection, listing $4.4 million in liabilities against $1.38 million in assets.

The two-time Pro Bowl selection (1999 and 2000) was apparently warned earlier in his career that financial distress was a very real possibility:

“The Lions did a good job, they put on financial programs that we had to attend talking about investing and saving money, gave statistics on how many of us would be broke. Guys were saying, ‘It’s not going to be me, I’m too smart for that.’ And here I am, one of those guys.”

Elliss reportedly invested his fortune into several business ventures that eventually went belly up, including a manufacturing company called Trinity Armor.

He — along with his wife and their 11 children — plan to walk away from the Oakland Township home and start over. Elliss currently earns a $347,410 annual pension from the NFL, which will hopefully keep the family afloat during this difficult time.

To check out other celebrity-type foreclosures, including the field where Elliss spent most of his playing days inside the Silverdome, click here.

THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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

This up-to-date and comprehensive electronic book on CD-ROM presents an enormous library of documents and publications on housing, with special coverage of the HOPE for Homeowners program and the Housing and Economic Recovery Act of 2008. The President has signed into law legislation that will allow HUD's Federal Housing Administration (FHA) to continue providing targeted mortgage assistance to homeowners. The Hope for Homeowners program will continue FHA's existing and successful efforts to provide aid to struggling families trapped in mortgages they currently cannot afford. Under the program, certain borrowers facing difficulty with their mortgage will be eligible to refinance into FHA-insured mortgages they can afford. The program will be implemented on October 1, 2008. Homeowners May Already Be Eligible For Assistance - Families should not wait to seek mortgage relief. Right now, homeowners can determine if they are already eligible for mortgage assistance through FHASecure, FHA's existing refinancing program. Hope for Homeowners maintains FHA's long-standing requirement that new loans be based on a family's long-term ability to repay the mortgage. FHA only allows owner occupants to be eligible for FHA-insured mortgages. Housing and Economic Recovery Act of 2008: Through the Federal Housing Administration (FHA), an estimated 400,000 borrowers in danger of losing their homes will be able to refinance into more affordable government-insured mortgages. The program offers government insurance to lenders who voluntarily reduce mortgages for at-risk homeowners to at least 90% of the property's current value. To be eligible to participate in this program, a borrower must: Have a loan on an owner-occupied principal residence. Investors, speculators, or borrowers who own second homes cannot participate in this program. Have a monthly mortgage payment greater than at least 31 percent of the borrower's total monthly income, as of March 1, 2008. Certify that he or she has not intentionally defaulted on an existing mortgage, and did not obtain the existing loan fraudulently. Not have been convicted of fraud. Homeowners or a servicer of an existing eligible loan need to contact an FHA approved lender. The FHA-approved lender will determine the size of a loan that a borrower can reasonably repay and that meets the requirements of the program. This collection covers every aspect of housing, homeownership, and real estate, with coverage of the Housing and Urban Development (HUD) and many related federal agencies, including the Federal Reserve Board, Federal Trade Commission, the Office of Federal Housing Enterprise Oversight, the Federal Housing Finance Agency, the rescue of Fannie Mae and Freddie Mac, and much more. It contains an updated collection of the finest federal documents and resources on housing and real estate, with next-generation search technology that allows complete indexing and makes all files fully searchable! There is detailed coverage of new efforts by the federal government to provide struggling homeowners with mortgage relief and foreclosure prevention, including the complete text of the Housing and Economic Recovery Act of 2008, and information about the ongoing HOPE for Homeowners program. There is material about housing counseling, avoiding foreclosure rescue scams, and dealing with adjustable rate mortgages (ARMs). The scope of this material is truly incredible, providing federal government answers to virtually every possible question on housing, homes, and real estate issues: Homes, Homebuying, Homeownership, Renting, Home Improvements, Real Estate, Buying, Selling, Consumer Information and Advice, Real Estate Professional Information; Credit, Financing, Mortgages, Reverse Mortgages, Fixed-rate Mortgages, Adjustable-Rate Mortgages, Mortgage Insurance; Loan Applications, Fees, Closing and Closing Costs, Read More

THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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

Attention agents: Special foreclosure training with industry expert Howard Small
Foreclosure.com and acclaimed real estate investing expert, Howard Small, will partner during an online training seminar to provide real estate agents with tips and skills to capitalize on foreclosure listings in their areas. ‘Foreclosure Investing Expert: Making Money in Foreclosures’ will be held live online from 4 p.m. to about 5:30 p.m. ET on Thursday, Jan. [...]

Foreclosure.com and acclaimed real estate investing expert, Howard Small, will partner during an online training seminar to provide real estate agents with tips and skills to capitalize on foreclosure listings in their areas.

‘Foreclosure Investing Expert: Making Money in Foreclosures’ will be held live online from 4 p.m. to about 5:30 p.m. ET on Thursday, Jan. 21, 2010.

To register and/or find out more information visit: http://www.foreclosure.com/education/webinars/making-money-in-foreclosures-370.html

Howard — a well-known and highly successful investor, author, trainer and mentor — will show agents how to help their clients close more homebuying transactions, as well as detail all the applicable federal and state programs available to help them make the most prudent purchase decisions.

“We’re excited to connect our visitors with such a helpful and successful real estate expert such as Howard Small,” said Linda Yates, Director of Education, Foreclosure.com. “In addition to all of the other valuable information that we pack into our Webinars, Howard brings such a high level of expertise to the table that it will ensure there is something of interest — and something to learn — for everyone who participates.”

WHO: Well-known and highly successful investor, author, trainer and mentor, Howard Small, as well as Foreclosure.com Director of Education, Linda Yates

WHAT: ‘Foreclosure Investing Expert: Making Money in Foreclosures 370′ real estate training session offered through Foreclosure.com Agent University

WHERE: Foreclosure.com Webinar Series | Register online for the live virtual presentation at:
http://www.foreclosure.com/education/webinars/making-money-in-foreclosures-370.html

WHEN: Thursday, Jan. 21, 2010, from 4 p.m. to about 5:30 p.m. ET

This course is offered through Foreclosure.com Agent University, which offers serious real estate professionals the best selection of training opportunities and certification programs available in the industry today.

Prospective homebuyers, too, are encouraged to attend because it will help them find the most affordable homes for sale in their areas.

About Foreclosure.com Agent University:
Foreclosure.com Agent University offers serious real estate professionals the best selection of training opportunities and certification programs available in the industry today. Our designations are universally recognized as the standard of excellence. Certified agents stand out among their peers, closing more deals and earning higher commissions. We provide agents with invaluable knowledge, skills and tools that ensure consistent success … even in the most challenging markets. Our industry-leading certification programs, Certified Foreclosure Agent and Certified Short Sale Agent, offer varying degrees of participation at the lowest possible prices.

On the Web:
To register and/or find out more information visit:
http://www.foreclosure.com/education/webinars/making-money-in-foreclosures-370.html

Media Contact:
Thomas Myers
Foreclosure.com
Tel: (561) 981-5337 ext. 7381

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THE REAL ESTATE FORECLOSURE LISTING SYSTEM

US $14.95

6h 45m

JT Stewart Cleanout Foreclosures

US $125.00

9h 59m

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