Investing Foreclosures

Basics on Offshore Bank Accounts

Ricky — Fri, 27 Jun 2008 06:02:38 +0000

QROPS

Offshore banking usually refers to using the services of banks and financial services located outside the account holder’s country of residence. Such banking institutions are usually located in jurisdictions considered as tax havens. Oftentimes investors and those who chose to expatriate are able to grow investments to maturity tax free. Other benefits of offshore banking include added confidentiality and privacy. Some offer anonymously numbered accounts and reside in countries that impose strong secrecy enforcement laws

Offshore bank accounts

Offshore accounts are frequently opened under the name of an offshore company. The reason for this is the increased privacy as all banking transactions, if traced, would be under the name of the offshore company, not the client. Establishing an offshore bank account in this way could cost between $350 to $550, plus the cost of setting up the offshore company. An offshore company typically costs between $1495 and $2,495. So, one could expect the total offshore account costs to be about the $1845 for both.

Offshore accounts

Offshore accounts have to be opened with an initial deposit to activate the account. Although, some offshore provider’s bank account types, fees, interest rates, etc. Additionally, the interest rates tend to be higher than in the UK and EU, providing an extra benefit for those saving abroad. Process fees, courier charges and various small costs (for notary, etc.) will be incurred during the process of establishing an offshore bank account. The Offshore Company UK has helped thousands of individuals and companies open private banking accounts, offshore companies and corporations and can assist you in establishing the right offshore vehicles for you.

Mortgage rates stay below 6 percent

Ricky — Sat, 29 Mar 2008 07:49:03 +0000

Mortgage rates stay below 6 percent

Rates on 30-year mortgages edged down slightly this week, staying below 6 percent, although rates on other types of mortgages rose.

Mortgage bankers cleaning up mess they made
Across the country, key players in the real estate boom are adapting to the new reality of the marketplace and are finding new success by offering solutions to the problems they helped to create.

Fannie, Freddie may raise $20 billion

Ricky — Fri, 28 Mar 2008 15:56:48 +0000

Fannie, Freddie may raise $20 billion
Fannie Mae’s and Freddie Mac’s regulator will allow the mortgage financiers to raise as much as $20 billion in capital as part of an agreement that lets them buy more debt securities, Bloomberg News said on Friday.

Newsweek: How to modify your mortgage

Ricky — Fri, 28 Mar 2008 10:02:39 +0000

Modifying a mortgage isn’t easy. Here’s what you need to know.

Angie, a systems specialist, and her husband Raul, a Navy chief petty officer, purchased a home in Pensacola, Fla. The couple was careful to find a home they were convinced they could afford. They offered $205,000 on the property and went online to find a 30-year fixed-rate mortgage, putting no money down. In the weeks before closing, everything went smoothly. Their mortgage broker had offered them a fixed-rate loan at 8 percent, with a “piggyback” loan at 11 percent to make up for their lack of down payment.

Read the full story

Housing advocates protest Bear Stearns bailout

Ricky — Fri, 28 Mar 2008 08:53:41 +0000

Housing advocates protest Bear Stearns bailout

Protesters opposed to the Fed’s help in bailing out Bear Stearns entered the lobby of the investment bank’s Manhattan HQ Wednesday, demanding assistance for homeowners.

McCain’s housing crisis options

John McCain wants to leave the door open to a wide array of proposals to address the turmoil in home financing.

Las Vegas Foreclosures

Ricky — Sat, 15 Mar 2008 08:40:07 +0000

The Las Vegas foreclosure market is currently #1 in the country based on recent data from, RealtyTrac . While this is not surprising to some, this is reality to the hundreds of thousands of investors that bought property in Las Vegas.

Southern California home sales drop to a 20-year low

Ricky — Thu, 28 Feb 2008 11:06:26 +0000

Southern California’s housing slump hit a new bottom last month, despite low interest rates, falling prices, and promises of government assistance.

According to statistics, less than 10,000 homes were sold in the six-county region. That’s the first time that has happened since DataQuick began keeping records in 1988. Additionally, 1 out of 4 homes sold had been foreclosed, putting additional pressure on home values.
Read the full article

Finding Deals on Foreclosed Homes

Ricky — Wed, 27 Feb 2008 23:06:24 +0000

Those looking to buy a home today can find great deals as a result of the rise in foreclosure rates. Keep in mind, there are risks involved in buying these homes, but they can often be bargains.

You can search bank websites since banks often list their foreclosed properties for sale online.

You can also look up government-owned listings. The Department of Housing and Urban Development lists the foreclosed homes that it owns on its website as well as through local real estate agents.

Foreclosures up 57 percent in January

Ricky — Wed, 27 Feb 2008 00:07:58 +0000

The number of homes facing foreclosure rose 57 percent in January compared to a year ago. Lenders are being forced to retake possession of homes they couldn’t unload at auctions, a mortgage research firm said Monday.

According to RealtyTrac, over 233,000 homes have recieved at least one notice from lenders related to overdue payments. Nearly half of the total involved first-time default notices.

The worsening situation came despite ongoing efforts by lenders to help borrowers manage their payments by modifying loan terms,

Riverside County Foreclosure Rates Skyrocketing

Ricky — Sat, 23 Feb 2008 00:59:51 +0000

Foreclosures keep skyrocketing (The Californian)
RIVERSIDE — The number of foreclosures in Riverside County continued to rise at a meteoric pace in January, increasing the downward pressure on local home prices and flooding the regular home market.