Dec
20
2011
A lot of people are making a big deal of this whole FHA regulation 24 CFR 203.37a (b)(2) FHA Anti-Flipping rule and how it’s going to expire December 31st 2011. Who really cares? Most investors don’t realize the one common denominator here, and that is first of all trying to find a bank or mortgage broker that will even lend to an end buyer on a short sale purchase from an investor that hasn’t had seasoning for at least 90 days or more.
Same day quick closings or same day transactions will barely exist moving into 2012. Trying to find a title company and a lender for your buyer is pretty near close to impossible. I’m not trying to be all johnny rain cloud to short sale investors, but since the foreclosure law is so new, and most states are coming down hard on investors for doing same day transactions it’s becoming more of stretch to make this happen properly without somebody saying you didn’t disclose this or that not.
Most states are trying to impose that majority of short sale investors are “flopping” these transactions. For instance, the state of Indiana states the following on flopping: “Flopping involves intentionally misrepresenting the value of a property in order to “flip it” illegally by avoiding or failing to make required disclosures and/or knowingly submitting falsified or fraudulent documents and/or affidavits.”
Moving forward into 2012 with short sales in general, I wouldn’t try to “avoid” anything that is within the grey area, and in order to do so you’ll need to find a money partner, private lender, hard money lender or a long-term transactional funder that will allow you to hold the actual deed allowing you to become “owner of record” for the 90 day period (my personal recommendation would allow prepossession to your buyer and collect rent while your the true “owner of record” in order to soften the blow a transactional lender will charge for the hold period). There isn’t a way around this. I wouldn’t advise using any kind of a “trust” as that’s unfortunately within the grey area, and additionally with trusts most banks cannot sell and package loans that have recently been put into a trust on the secondary market leaving them (the bank) holding the paper which they do NOT want to do and will not do.
Be creative in a good way if short sales are your niche and your passion. Don’t get discouraged! Since government has stepped in to try and help out homeowners with a solution facing foreclosure, we as a nation have seen a total of EIGHT total programs fail and leave homeowners without a positive outlook on their future. With this being the case, there will be a huge opportunity to purchase short sales as an investor (a projected 12 million homes will be in default early 2012), and all (including the homeowner being able to walk away) involved will be winners of the transaction. I honestly believe the consumer (i.e. the homeowner) in this situation needs to be looked after and not the bank. The consumers are not receiving government bailouts, the big ole bank(s) are receiving those while they continue to have piles of foreclosure rise and shadow inventory that nobody seems to mention in the media rise to all time highs within our US history!
In ending… I leave with this… ALWAYS DISCLOSE, DISCLOSE, DISCLOSE!
Aug
31
2011
Indiana Foreclosure Procedure
The Process
In Indiana , a lender can file a lawsuit to foreclose on real estate. The date the mortgage was signed determines the length of time it takes between the filing of the lawsuit and the foreclosure sale. Here are the applicable waiting periods:
| Before January 1, 1958 : | 12 months |
| Between January 1, 1958 – July 1,1975 | 6 months |
| After July 1, 1975 | 3 months |
Procedure
If the owner files a waiver of the time limit with the court clerk, which has been signed by the lender (or judgment holder), then the foreclosure sale process may begin without the need to delay 3 to 12 months. If such a waiver is used however, the lender loses the right to sue the borrower for a deficiency.
The foreclosure sale process involves publishing an ad once a week for three weeks. The first ad must be run 30 days before the sale. At the time the first ad is run, each owner must be served with notice of the foreclosure sale by the sheriff. The sheriff conveys title by a deed given immediately after the sale. The owner may reside in the property, rent free, until the foreclosure sale, provided the owner is no) committing waste, which means tearing up the property.
Redemption
There is no right to redemption after the foreclosure sale. The waiting precedes the sale. If the property is not a principal residence, a receiver can be appointed to take charge of it.
For more information on how you can avoid foreclosure, visit our website at www.IndyForeclosureSolutions.com and we’ll make sure to get all of your questions answered promptly.
Tags: Bank of America, Boone County Foreclosure, Carmel Foreclosure, CCO Mortgage, CDPE, Chase Manhattan, Cicero Foreclosure, Encore Bank, Fifth Third, Fishers Foreclosure, Flagstar Bank, Fortville Foreclosure, Hamilton County Foreclosure, Hancock County Foreclosure, Hendricks County Foreclosure, Indiana Foreclosure, indiana short sale, Indianapolis Foreclosure, Indianapolis Short Sale, JP Morgan, Marion County Foreclosure, Morgan Stanley, Noblesville Foreclosure, Pendleton Foreclosure, PNC Bank, PNC Mortgage, Select Portfolio Servicing, Wells Fargo, Zionsville Foreclosure | 
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Comments (0) Jul
13
2011
I say “landed” because this thing is from freaking
outer space.
It’s like aliens coming down and flipping whole sub-
divisions of houses for you while simultaneously
baking you yummy red velvet cupcakes, massaging
your feet, and taking song requests (aliens are
amazing singers).
You thought Freedom$oft Reloaded was good???
*pft* lol! omgoodness
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Check this out …
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Thanks,
Jason Lucchesi
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See for yourself …
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p.p.s. this will be pulled off the market in the middle of an
unannounced random week day night. PLEASE do not call
me crying that next day. I hate to see grown humans cry.
Jul
13
2011
Hey there,
I just got an e-mail from Bank of America, and at first I was about to delete it but the subject said, “Now You Can Substitute a New Buyer for One Who Walked Without Restart.” I immediately opened it to see what it was about, and to my viewing pleasure it actually had some great content. The recent e-mails from Bank of America weren’t beneficial but this quite me by surprise. Most of the banks do this already method already, but most agents have no clue what their doing with a short sale that one of the major lenders had to publish an actual newsletter for the ones that don’t get it.
Why you should weigh out your options when choosing the right person to work with to get your house sold and approved properly through a short sale? My answer, simple. Don’t ever, ever submit multiple offers. Why? This confuses the bank negotiator that is handling your file. Think about it for a second, the negotiator assigned to your file is more than likely working on 300-500+ files depending on the bank. Do you think having more and more offers submitted is going to help your approval process? No, it’s not. That is why Bank of America also submitted an article on why you shouldn’t submit multiple short sale offers too. CLICK HERE TO DOWNLOAD THE ARTICLE!
It’s not that I think most agents are evil and are out to destroy the possibility of receiving short sale approvals, they’re NOT. Most just have no clue on how to actually submit a proper short sale. This post isn’t meant to bash real estate agents, because to be honest there are a lot of solid and great real estate agents out there, and the ones that do short sales the correct and easy way are helping the problem with a solution, not creating more havoc. Having a bunch of fancy titles after your e-mail signature and business card does mean you have the credentials to be handling a short sale. Most of these companies that supply these fancy titles are a complete joke. Any “Joe Schmoe” can get a certificate and say I’m ready to do short sales. And yes, it is that easy. But any “Joe Schmoe” can’t pull off the hours of negotiating with the bank to receive the proper short sale approval settlement.
Know the facts! If you would like to receive complimentary access to a 8 minute FAQ video my team and I put together, feel free to visit my website at www.IndyForeclosureSolutions.com. <— Just “click” the link
After your done viewing the video, make sure to give us a call at 317-363-7685 (ask for Jason) to schedule a time for us to talk about doing a possible short sale on your property.
Tags: Bank of America, Boone County Foreclosure, Carmel Foreclosure, CCO Mortgage, CDPE, Chase Manhattan, Cicero Foreclosure, Encore Bank, Fifth Third, Fishers Foreclosure, Flagstar Bank, Fortville Foreclosure, Hamilton County Foreclosure, Hancock County Foreclosure, Hendricks County Foreclosure, Indiana Foreclosure, indiana short sale, Indianapolis Foreclosure, Indianapolis Short Sale, JP Morgan, Marion County Foreclosure, Morgan Stanley, Noblesville Foreclosure, Pendleton Foreclosure, PNC Bank, PNC Mortgage, Select Portfolio Servicing, Wells Fargo, Zionsville Foreclosure |
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Comments (0) Jul
12
2011
Hey there,
I’ve been receiving a lot of questions via e-mail and on my blog asking, “What is a HAFA short sale?” and do I qualify.
Let’s dive right into to the main components of what the HAFA program. It is a government designed program to assist homeowners facing foreclosure. The HAFA program is designed to the following for homeowners; A) Provide homeowners with a pre-approved purchase price to do the short sale, B) The program is only meant for homeowners who currently occupy the property (but in some cases you may still qualify if you recently vacated), C) The house must be listed through a real estate agent to find a buyer at the pre-approved number the bank has given you, D) The bank will allow steady price reductions if the agent cannot find a buyer at the pre-approved price, E) Majority of the time the buyer cannot get approved for any seller concessions, and finally F) After 120 days if the real estate agent cannot locate or find a buyer interested in the property your removed from the HAFA program with only two available options which is participating in the HAFA Deed In Lieu and doing a regular short sale. Once you’ve tried the HAFA program for the 120 days you can never try to be reinstated. It’s one deal type of program. The HAFA Deed In Lieu is a simple offering for you the homeowner to avoid foreclosure, and essentially play ball with the bank.
*Gain instant access to a 8 minute long FAQ Video that my team and I have made for homeowners facing foreclosure – CLICK HERE FOR ACCESS!
Although this program does sound great looking on it from the outside in, it is basically a huge waste of time. If you do not secure a buyer with 120 days you’ve now wasted 120 days, and did I mention while in the HAFA program the foreclosure process does NOT stop. Time is valuable when in the foreclosure process.It can be the difference of completing a successful short
sale to losing a home to the foreclosure process. Another great mention is by settling for the HAFA Deed In Lieu program although your cooperating with the bank that doesn’t matter when it comes to your personal credit, possibly your job, security clearances, losing up to 350 points on your fico score, having a foreclosure on your personal credit for up to 10 years, etc. Doesn’t sound like a really good program does it?
For more information on obtaining correct and very useful content when debating on whether to do a HAFA short sale or a Short Sale with somebody that has a proven track record for closing up to 88% of properties taken under contract, then visit our website at http://IndyForeclosureSolutions.com. We DO NOT charge a dime at all throughout the entire process. Timing is truly of the essence and you owe to yourself to make an educated decision. Weigh out your options, talk to the right people and choose. The right option always appears after doing the proper due diligence.
Look forward to speaking with you soon!
Take care,
Jason Lucchesi, Managing Member
Tags: Bank of America, Boone County Foreclosure, Carmel Foreclosure, CCO Mortgage, CDPE, Chase Manhattan, Cicero Foreclosure, Encore Bank, Fifth Third, Fishers Foreclosure, Flagstar Bank, Fortville Foreclosure, Hamilton County Foreclosure, Hancock County Foreclosure, Hendricks County Foreclosure, Indiana Foreclosure, indiana short sale, Indianapolis Foreclosure, Indianapolis Short Sale, JP Morgan, Marion County Foreclosure, Morgan Stanley, Noblesville Foreclosure, Pendleton Foreclosure, PNC Bank, PNC Mortgage, Select Portfolio Servicing, Wells Fargo, Zionsville Foreclosure |
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Comments (0) Jul
11
2011
Want to earn some extra income? Send us your short sale referrals and we’ll pay you.
Click HERE to visit our Referral Key page! Once you get to the page, send us the contact information for your referral or you can simply send us an e-mail too at info@globalfortunesolutions.com. Whatever option you choose is fine with us.
If it is a short sale we decide to take on, you’ll have the option of collecting $1,000 upfront* for introducing us to the seller in need of the short sale or you can collect 10% of whatever the gross profit is collected from when we purchase and resell the property for profit.
Submit your information on either https://www.referralkey.com/jasonlucchesi or simply shoot us an e-mail at info@globalfortunesolutions.com.
Thanks for your time,
Jason Lucchesi
*Note – We’ll only pay the $1,000 upfront fee if we feel very strongly about the investment opportunity that has been brought to our attention. We’re an investment company and have to way out all of the risks first.
Tags: Bank of America, Boone County Foreclosure, Carmel Foreclosure, CCO Mortgage, CDPE, Chase Manhattan, Cicero Foreclosure, Encore Bank, Fifth Third, Fishers Foreclosure, Flagstar Bank, Fortville Foreclosure, Hamilton County Foreclosure, Hancock County Foreclosure, Hendricks County Foreclosure, Indiana Foreclosure, indiana short sale, Indianapolis Foreclosure, Indianapolis Short Sale, JP Morgan, Marion County Foreclosure, Morgan Stanley, Noblesville Foreclosure, Pendleton Foreclosure, PNC Bank, PNC Mortgage, Select Portfolio Servicing, Wells Fargo, Zionsville Foreclosure |
Comments (0)
Comments (0) Jun
30
2011
Great news!
Our company Global Fortune Solutions has posted some great information about us and foreclosure options on Yelp, click HERE for more information. We’ve added some resources that homeowners, and professionals would find to be useful when it comes to knowing your options while facing foreclosure. As part of some of the resources found at our Yelp Business Page you’ll gain access to view our complimentary videos from our YouTube channel “The 7 Options While Facing Foreclosure,” and additionally gain valuable information about some details you should be aware of if you or somebody you know does happen to face foreclosure.
If you have additional questions, please visit our website at http://IndyForeclosureSolutions.com or feel to view our Yelp Business Page for additional information on contacting us.
DISCLAIMER: Global Fortune Solutions, LLC and/or any of it’s representatives do not offer legal advice. If you need legal advice please consult with an attorney. Global Fortune Solutions, LLC and/or any of it’s representatives cannot prevent or postpone the initiation of a foreclosure proceeding, or reverse the effect of a foreclosure proceeding; Global Fortune Solutions, LLC and/or any of it’s representatives will not allow the current “owner of record” to become a lessee or renter in the subject property during or after a foreclosure proceeding; or allow the current “owner of record” to have an option to repurchase the subject property after a foreclosure proceeding. Global Fortune Solutions, LLC and/or any of it’s representatives is not a “Foreclosure Consultant” and Global Fortune Solutions, LLC and/or any of it’s representatives does not offer any related services.
Tags: Bank of America, Boone County Foreclosure, Carmel Foreclosure, CCO Mortgage, CDPE, Chase Manhattan, Cicero Foreclosure, Encore Bank, Fifth Third, Fishers Foreclosure, Flagstar Bank, Fortville Foreclosure, Google Boost, Google Places Page, Hamilton County Foreclosure, Hancock County Foreclosure, Hendricks County Foreclosure, Indiana Foreclosure, indiana short sale, Indianapolis Foreclosure, Indianapolis Short Sale, JP Morgan, Marion County Foreclosure, Morgan Stanley, Noblesville Foreclosure, Pendleton Foreclosure, PNC Bank, PNC Mortgage, Select Portfolio Servicing, Wells Fargo, Zionsville Foreclosure |
Comments (0)
Comments (0) Jun
22
2011
Great news!
Our company Global Fortune Solutions has posted some great information about us and foreclosure options on Google, click HERE for more information. We’ve added some resources that homeowners, and professionals would find to be useful when it comes to knowing your options while facing foreclosure. As part of some of the resources found at our Google Places Page you’ll gain access to view our complimentary videos from our YouTube channel “The 7 Options While Facing Foreclosure,” and additionally gain valuable information about some details you should be aware of if you or somebody you know does happen to face foreclosure.
If you have additional questions, please visit our website at http://IndyForeclosureSolutions.com or feel to view our Google Places Page for additional information on contacting us.
DISCLAIMER: Global Fortune Solutions, LLC and/or any of it’s representatives do not offer legal advice. If you need legal advice please consult with an attorney. Global Fortune Solutions, LLC and/or any of it’s representatives cannot prevent or postpone the initiation of a foreclosure proceeding, or reverse the effect of a foreclosure proceeding; Global Fortune Solutions, LLC and/or any of it’s representatives will not allow the current “owner of record” to become a lessee or renter in the subject property during or after a foreclosure proceeding; or allow the current “owner of record” to have an option to repurchase the subject property after a foreclosure proceeding. Global Fortune Solutions, LLC and/or any of it’s representatives is not a “Foreclosure Consultant” and Global Fortune Solutions, LLC and/or any of it’s representatives does not offer any related services.
Tags: Bank of America, Boone County Foreclosure, Carmel Foreclosure, CCO Mortgage, CDPE, Chase Manhattan, Cicero Foreclosure, Encore Bank, Fifth Third, Fishers Foreclosure, Flagstar Bank, Fortville Foreclosure, Google Boost, Google Places Page, Hamilton County Foreclosure, Hancock County Foreclosure, Hendricks County Foreclosure, Indiana Foreclosure, indiana short sale, Indianapolis Foreclosure, Indianapolis Short Sale, JP Morgan, Marion County Foreclosure, Morgan Stanley, Noblesville Foreclosure, Pendleton Foreclosure, PNC Bank, PNC Mortgage, Select Portfolio Servicing, Wells Fargo, Zionsville Foreclosure |
Comments (0)
Comments (0) Apr
19
2011
In this video, we at Global Fortune Solutions give you access to what other homeowners have to say about us. We were able to purchase these sellers homes by doing a short sale. If your facing foreclosure and you think you may want to here more about the short sale option, please visit our website at http://IndyForeclosureSolutions.com and we’ll be more than happy to answer any additional questions you may have. Facing foreclosure can be very stressful, and sometimes it may seem like there is no options. Visit our website as soon as possible.
DISCLAIMER: Global Fortune Solutions, LLC and/or any of it’s representatives do not offer legal advice. If you need legal advice please consult with an attorney. Global Fortune Solutions, LLC and/or any of it’s representatives cannot prevent or postpone the initiation of a foreclosure proceeding, or reverse the effect of a foreclosure proceeding; Global Fortune Solutions, LLC and/or any of it’s representatives will not allow the current “owner of record” to become a lessee or renter in the subject property during or after a foreclosure proceeding; or allow the current “owner of record” to have an option to repurchase the subject property after a foreclosure proceeding. Global Fortune Solutions, LLC and/or any of it’s representatives is not a “Foreclosure Consultant” and Global Fortune Solutions, LLC and/or any of it’s representatives does not offer any related services.
Tags: Bankruptcy, deed in lieu, Foreclosure, Indiana Bankruptcy, Indiana Foreclosure, Indiana Loan Modification, Indiana Preforeclosure, indiana short sale, Indianapolis Bankruptcy, Indianapolis Foreclosure, Indianapolis Loan Modification, Indianapolis Preforeclosure, Indianapolis Realtor, Indianapolis REO, Indianapolis Short Sale, Loan Modification, notice of default, Preforeclosure, Short Sale |
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Comments (0) Apr
19
2011
In this final video of seven, we at Global Fortune Solutions explain to you exactly what a “sell the house on your own” option truly means to homeowners who are facing foreclosure. If you still have questions about this option, please visit our website at http://IndyForeclosureSolutions.com and we’ll be more than happy to answer any additional questions you may have. Facing foreclosure can be very stressful, and sometimes it may seem like there is no options. Visit our website as soon as possible.
DISCLAIMER: Global Fortune Solutions, LLC and/or any of it’s representatives do not offer legal advice. If you need legal advice please consult with an attorney. Global Fortune Solutions, LLC and/or any of it’s representatives cannot prevent or postpone the initiation of a foreclosure proceeding, or reverse the effect of a foreclosure proceeding; Global Fortune Solutions, LLC and/or any of it’s representatives will not allow the current “owner of record” to become a lessee or renter in the subject property during or after a foreclosure proceeding; or allow the current “owner of record” to have an option to repurchase the subject property after a foreclosure proceeding. Global Fortune Solutions, LLC and/or any of it’s representatives is not a “Foreclosure Consultant” and Global Fortune Solutions, LLC and/or any of it’s representatives does not offer any related services.
Tags: Bankruptcy, deed in lieu, Foreclosure, Indiana Bankruptcy, Indiana Foreclosure, Indiana Loan Modification, Indiana Preforeclosure, indiana short sale, Indianapolis Bankruptcy, Indianapolis Foreclosure, Indianapolis Loan Modification, Indianapolis Preforeclosure, Indianapolis Realtor, Indianapolis REO, Indianapolis Short Sale, Loan Modification, notice of default, Preforeclosure, Short Sale |
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