Georgia Closings on My Mind

And the deluge is still to come. That's the word on the "street" from the industry professionals. The main reason is because interest rates on adjustable rate mortgages (ARMs) are about to reset in coming months - to double, triple or quadruple from those low teaser rates. Throw in a credit crunch that will close off most opportunities to refinance to falling housing prices, and it's likely that hundreds of thousands more will face foreclosure. Most will not be able to find help, and the foreclosure rate could climb even higher than the projected for closing 2007.
Reaction from state and federal officials continues to give lenders and loan services the benefit of the doubt in the form of voluntary compacts and agreements to pick up the pace and increase the volume of loan modifications. But it's unclear what those things will accomplish.
In Georgia, on average, foreclosure rates in the metro Atlanta area is significantly higher than rates in neighboring areas." Last year, Fulton County, home of the city of Atlanta, had the most foreclosures with a total of 11,437. DeKalb County was close behind with 9,327 foreclosures. In total, there have been 41,312 foreclosures in the metro Atlanta area for 2007.
To almost every housing counseling hotline in the region, the phone calls are incessant. The average foreclosure prevention counseling agency, is answering 150 calls a week from borrowers, far more than it can actually help. Nationwide, the wait time to see a counselor used to be one day, now the homeowner in need can expect to wait one week.
"Interestingly enough, foreclosures in Georgia are considered to be non-judicial foreclosures, which do not involve a judge. It's important to remember that pre-foreclosure sales are quite possible due to full public disclosure of the homeowner's information including the date, amount of debt, property address, name of borrower, deed book and page of security deed, lender name and attorney information. The key to succeeding is to be persistent and understand that the pre-foreclosure business requires a great deal of work and patience.
Seminar training from professionals is the best method to find pre-foreclosures. "You need quality real estate training and education from a real-world hands on professional to work with you. The real estate market is in the midst of a major correction and opportunities must be recognized first.

Jeff Kaller, visionary, educator and real estate developer has the pioneered the most preeminent pre-foreclosure system in United States. Specializing in a well kept industry niche, Jeff teaches the real estate secrets of purchasing pre-foreclosure properties while executing real estate theory to actual practice. A record of $7 million dollars in properties and a dedicated following of over 9,000 students in less than four years stands testament to his winning strategies.

Article Source: http://EzineArticles.com/808627

Foreclosures And Pre Foreclosures

Buying a foreclosure can be a lucrative investment, locating a foreclosure before anyone else or a property in pre-foreclosure stage allows you to be the only person negotiating with a motivated seller." The recent real estate boom inspired mortgage financers, to increase the number of sub prime mortgages given to people considered high risk has now has fueled the current mortgage meltdown.
As always, an opportunity presents itself. Buying a property in pre-foreclosure involves approaching the borrower or owner and offering to buy the property outright which means at a discount. The added value this system is, the owner can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history.
This pre-foreclosure process also gives the buyer the time to research the title and condition of the property. Deals of this nature typically realize discounts of 20 to 40 percent below market value. In today's heated sub prime market, those numbers are very realistic.With the foreclosure rate running at a record-setting pace it is understandable why many homeowners are willing to do anything or sign anything to keep from losing their homes.
Clearly today's market environment is attractive to the pre-foreclosure investor. According to the Mortgage Bankers Association, consumers with normally good credit are also defaulting on their mortgages. More than 5 percent of loans across the country were delinquent, up from last year. It should be noted that delinquent loans do not include homes in foreclosure however they maybe in the pre-foreclosure stage. Equally noteworthy, trillions of dollars in mortgages will reset by year's end so homeowners who were able to pay their mortgage bills until now, may be at risk of missing house payments as well.
If you are in the pre-foreclosure market, with some additional effort, you can find these homes and properties. As you become acquainted with these contacts, you can tell them the type of home you are looking for and the area. If you check regularly, you may obtain information on homes before they are added to public databases."
Paradise Lost and Found
While Hawaii's housing market is tightening like the rest of the country, it's not experiencing anywhere near the level of foreclosures seen in other states nor the level seen in Hawai'i in the mid-1990s. In the mid-1990s, Hawai'i foreclosures ranged between 4,000 and 5,000 a year.Today, Hawaii has the 10th-lowest foreclosure rate in the nation.

P.S. If you haven't signed up for my Free Short Sale Course yet, then you are really missing out, go here: http://www.freeshortsalecourse.com/
Jeff Kaller, visionary, educator and real estate developer has the pioneered the most preeminent pre-foreclosure system in United States. Specializing in a well kept industry niche, Jeff teaches the real estate secrets of purchasing pre-foreclosure properties while executing real estate theory to actual practice. A record of $7 million dollars in properties and a dedicated following of over 9,000 students in less than four years stands testament to his winning strategies.

Article Source: http://EzineArticles.com/788153

When You Build It They Will Come - A Personal Story

I started blogging back in 2004, when I was in my first year of doing commercial radio. I had no idea what I was doing. I was looking for software that had a calendar and a way to publish my radio shows on the Internet.
I didn’t know anything about the different blogging software either, that was available on the market at the time.
When I did a search on Google only a few blogging software vendors came up, so I picked Radio UserLand, yes you guessed it right, because it had the name “radio” in it (interesting selection criteria by a coach and prior consultant).
I ended up using it like a journal because to do anything else, like even putting my radio studio picture on my blog, I had to know programming code. I do speak several languages, but computer language isn’t one of them. It has become a very frustrating experience so when my commercial radio days came to a temporary end, I stopped using the blog and never thought about it again.
Truly, I haven’t thought about blogging until early this year, when I have chosen to go into full time coaching. I have closed my escape hatch to other work and other opportunities. I did some research and reading about Web 2.0, what it was all about and what a powerful tool it could become for my coaching business. My goal was to become an authority on providing life coaching for Realtors, Mortgage Brokers and Investors.
Co-incidentally ( there are no co-incidences) about the same time my Web-site hosting vendor came out with a new release and decided to offer the WordPress (sign-up for a Free account) blogging software for free as part of my package. I have already read and heard about WordPress as one of the best blogging software out here during my research. For no other reason then, thousands of programmers choose it to write mini programs for it called “plug-ins” to make it user friendly for someone like me. Based on my previous experience, that’s all I need it to hear. I wrote a few posts about coaching and personal development in my new blog called Real Coaching Moment, but it didn’t open the floodgates to fame and fortune, like I first thought it would, lol.
So, I begun to view my new blog as a separate entity from all of my other business ventures and it really become clear to me that this is the vehicle, which by I want to let the world know who I am, what I’m about and to begin to develop relationships and friendships on the Internet. Making money and becoming famous went on the back-burner.
Now, that I had a clear plan, this is what I begun to do with my blog after all the research that I have done. I needed to create a buzz about me as the local, regional and national Life Coach Authority on my own personal main blog. I further needed to create high rankings on search engine sites, submit a lot of relevant content, make comments on related blogs and even create a buzz group within my own industry.
So, here is my Main Blog [http://006b886.netsolhost.com/coachingmoment] that is quickly becoming a Coaching & Personal Development Authority Site. Keep in mind that I have enabled my Blog in April and started to work on this project seriously in the beginning of June, my traffic has increased 20 times within a 30 day period.
This experience of learning how to build an effective Web-site was very similar to when I first learned English, when I first learned how to drive a stick shift, when I first sat in the radio studio overwhelmed by all the buttons computer and TV screens. Awkward at first, but with a little persistence I got the hang of it.
To day, I have friendships that are blossoming in France, Spain, Canada, Hungary, England and the USA. I’m creating friendships at social sites like; ActiveRain, WannaNetwork, Point2, Apsense, Ojeez and others.
I’m experiencing true freedom unlike anything I have ever thought was even remotely possible, when I was still living in a communist country. Back then, we would not dare to share our thoughts, feelings or opinions even with our relatives or neighbors. To be able to share myself, having daily conversations and connecting with people are priceless to me.
I’m just a coach, like you are a Realtor, Mortgage Broker or whatever profession you happen to be in. If I can do it-you can do it.
I am committed to make a positive impact on the World and the way I do it is one person at a time, beginning with me and you.
To Your Success,
Coach Steve

Mr. Toth has over eight years of residential, commercial and investment banking experience.
He started the Real Estate and Mortgage Focus Radio Show in early 2004 on 630KHOW Denver's Talk Station to educate the public about real estate, finance and coaching. He became known as a real estate and finance area expert and someone who networks at a high level within the industry.
In 2006 Steve M Toth, “The Mortgage Guy”-Radio Show Host on Live365 expanded the “Real Estate and Mortgage Focus®” Radio Show Program into a national show on Live365- the World’s Largest National Internet Radio Network.
In 2003 he started a coaching practice called Real-Coaching™ to provide coaching programs and consulting services that dramatically enhance individual and team performance in the areas of Sales, Motivation, Leadership, Teamwork, Communication and Life Balance Management Skills for Realtors, Investors and Mortgage Professionals.

Article Source: http://EzineArticles.com/680238

5 Most Important Factors That Affect Your Credit Score

1. Your Payment History
This makes up about 35 percent of the typical score.
According to Fair Isaac & Co., six out of ten Americans don't have a single late payment on their credit report.
When it comes to negatives like late payments, the score focuses on three factors:
Decency - this is how recently the borrower was in trouble.
Frequency - this is how frequently the borrower has been in trouble.
Severity - this is how serious the trouble has been.2. The Amount of Debt
This makes up about 30 percent of your score. Total amount owed is examined, as well as the different types of debt involved.
Maxing out your credit limit, or even coming close, will inevitably hurt your score.
The greater the difference between your credit balance and your limit, the better.
3. The Amount of Time You've Carried Credit
This is fifteen percent of your score. The longer you've had credit, the better.
According to Fair Isaac, the average American has carried credit for fourteen years.
4. How Many Times You've Applied for Credit
This is ten percent of your score.
The more times you've applied for credit in a short amount of time - without a long credit history - the lower your score.
According to Fair Isaac, the average American hasn't applied for credit in the past 20 months.
5. The Variety of Your Credit
This is 10 percent of your score.
Fair Isaac doesn't explicitly reveal what they regard as a positive credit mix, although they do say you don't necessarily have to have a loan of each possible type.
To get the best possible score, it's recommended that you have revolving debt, like credit cards, as well as installment debt, like an auto loan.
Bank credit cards are better than store or finance company credit cards.
According to Fair Isaac, the average American has four or five bankcards, and most have at least one installment loan.
Disclaimer: This article is provided for information use only. It does not take the place of an attorney, a tax advisor, or an accountant. Always seek out the advice of a licensed professional before undertaking any significant change in your financial situation.
return to Your Credit Score main page http://www.traegardner.com/credit.htm

"My strengths are finding properties for my clients, showing the property and efficiently negotiating the transaction for them. Because I've mastered these skills, I can delegate these duties and tasks to people who are great at their jobs. We are a team with a business approach to real estate."
Gardner has created a casual work atmosphere to reflect his ever-casual. approachable, and breezy personality. Trae enjoys taking the "self-contained" team on field trips to the lake house and other fun destinations to promote camaraderie and team spirit while discussing important procedures. During busy periods, staff members will pitch in for each this, and Gardner has been known to even answer the phones! This positive business environment translates to not only happy employees, but happy clients too.
"My support team always looks out for the best interest of the client," says Gardner, who counts several North Dallas elite and celebrities among his clientele.

Article Source: http://EzineArticles.com/211626

Purchase Online Tenancy Agreements

Buy an on-line Tenancy Agreement now. As a landlord and also as a tenant it is important that there is a comprehensive tenancy agreement in place to protect both parties. Don't be tempted with purchasing off the shelf do it yourself tenancy agreements. It is worth investing in a professionally prepared tenancy agreement by a qualified solicitor.
Tenancy agreements
Tenancy agreements are a legally binding document which protects both a landlord and the tenant when renting out property. If you are a landlord and need to download a solicitor prepared assured shorthold tenancy agreement now click here.
Amount of Rent
A landlord will determine the level of rent based on market conditions and level of rent expected on the type of property in question.
New landlord renting for the first time
If you are a new landlord renting your property for the first time it is essential that you purchase a comprehensive tenancy agreement. Never, believe that trust is enough. This is a business relationship to help protect your investment property.
Damage deposits
It is important for landlords to take a damage deposit from the tenants. The amount set is determined by the landlord. However, it is a worthwhile investment to purchase a landlord inventory now as this will detail the condition of the property and contents prior to the tenants moving in which can be signed by all parties. When the tenants vacate this landlord inventory can be used to determine whether any of the deposit needs to be retained for repair/maintenance work created by the tenants.
Evicting tenants
It is never an incident that a landlord wants to exercise but on occasions it is necessary to evict tenants. There are certain procedures that a landlord must take to do this. In the first instance it is worth consulting a solicitor to find out how to execute this.
Rent Arrears may need to get a county court judgement
Many landlords will collect rent via direct debit from their tenants own bank accounts. It is important that tenants pay the rent on time and the full amount so as to avoid getting into rent arrears. If this does happen the landlord may have to apply for a county court judgement to resolve the rent arrear issues.
Before you evict you need to know which notice to serve
As a landlord needing to evict tenants it is important to know which eviction notice to serve. There are a number of good information sources available to find this information, but it is always worth contacting a solicitor to ensure that it is done in the correct legal manner.
Each party has certain obligations that they must meet. These can include:
The Landlord
- Adhering to Safety Requirements
- Collecting Rent
- Attending to repairs on the property
- Enabling the tenants to live peacefully in the property you have provided
- Not harassing the tenants. This can include visiting the property without prior notice, builders/tradesman arriving at the property without prior notice and generally leaving the property in a poor condition for the tenants.
The Tenant
- Paying Rent on time
- Ensuring that bills are paid and on time
- Contacting the Landlord notifying of any repairs needed
- Issuing the Landlord with the correct period of notice before they leave
When both parties have signed the tenancy agreement it is very rare that it can be changed unless the tenant and the landlord agree mutually. For example if a tenant has signed an Assured Shorthold Tenancy Agreement for a minimum period of six months and the tenant wanted to leave after just three months, then they may be liable to pay the remaining three months unless a break clause is written into the original tenancy agreement signed.
As a tenant there are certain steps that they need to take to terminate their tenancy agreement. Under normal circumstances they would give the landlord notice that they are leaving. Even if this is not written into the tenancy agreement, it is common courtesy to let the landlord know so that the landlord can begin necessary preparations to source new tenants when they vacate.
Different Types of Tenancy
If a tenant pays rent to a private landlord and live in a flat or house that is not shared with the landlord, the tenants are likely to have:
o an assured shorthold tenancy
o an assured tenancy, or
o a regulated tenancy
This applies even if the tenants have a room in a house that is shared with other people. The type of tenancy also depends on the date the tenants moved in.
Assured shorthold tenants
If tenants moved in after 27 February 1997, they are more likely to be on an assured shorthold tenancy agreement. Although it is still worth checking as tenants may be on an assured tenancy agreement if the landlord said that the tenancy would be an assured tenancy rather than an assured shorthold tenancy before they moved in.
An assured shorthold tenancy agreement gives the landlord a guaranteed right to repossess the property at the end of the term. This is the most common tenancy agreement used for most residential tenancies.
Assured tenants
If tenants move in after 15 January 1989 but before 28 February 1997 and the landlord didn't give notice stating that the tenancy agreement was to be an assured shorthold tenancy agreement, then it is likely that the tenants may have an Assured Tenancy. Although the landlord may have given the tenants a notice stating that the tenancy agreements is an assured tenancy rather than assured shorthold tenancy.
You may also be an assured tenant if you became the tenant because the tenancy was passed to you after a regulated tenant died.
Regulated tenants
If the tenants moved in before 15 January 1989, it is likely that the tenants will be on a regulated tenancy. A regulated tenancy can remain in place even if the landlord changes or the tenant moves.

Article Source: http://EzineArticles.com/62290

Home Equity Loans: A Useful Financial Tool

The investment need of an individual varies with time. Thus the need to buy a car or invest in a new house, which may have seemed "beyond means" a few years ago, may be a relevant and wise decision today. However, taking a consumer loan at existing rates may add to the existing debt burden of the individual. This is where home equity loans can be of help.
A home equity loan can be a very useful financial tool in the hands of the borrower, particularly if the avenue where the borrower would invest the loan amount would otherwise have to be financed at higher lending rates.
Thus the borrower can get access to cheaper loans, which can be used to finance secondary requirements like buying a car or modifying/renovating his/her existing home, repaying existing debt, medical costs, etc.
Home equity loans have other advantages too:
Tax deductions: The interest payable on the secured equity loan is deductible up to a maximum of $100,000 or the equity value in your home, whichever is less. Thus besides access to lower rates of interest, the equity loan also gives the borrower tax benefits.
Lower interest rates: As discussed earlier, a home equity loan can give access to loans at a lower rate than other means of debt like credit card debt or consumer loans. This can amount to a considerable savings on interest payments. Hence these loans can be used to retire old high-cost debt and help in the consolidation of debt.
Ease of qualification: As compared to other loans, it is easier to qualify for a home equity loan. This is because the loan is disbursed against the equity of your existing home. This results in a faster and relatively hassle-free disbursement of loans.
Flexibility of payment: The borrower can use the loan as and when required and may also be able to decide when the principal repayment should be done. This proves to a useful tool in the case of money management, particularly in the case of emergencies.
Home equity loans, if used wisely, can improve the financial standing of an individual as they provide easy and relatively cheap access to money.

Home Equity Loans [http://www.american-home-equity-loans.com] - Rates, in depth articles and professional second mortgage advice. Find the lowest home equity loans rates and lenders.

Article Source: http://EzineArticles.com/35323

Getting The Best Home Equity Loan

Owing to the popularity of home equity loans, there are numerous lending agencies offering a variety of mortgage products. A bad choice of mortgage can lead to disastrous effects, as there is a risk involved of foreclosure and losing one's home. Hence it becomes necessary to secure the best loan possible.
Simple steps to endure that you select the best home equity loan:
Find out your credit score and credit rating: Each person can get a credit rating based on his/her financial standing and other factors like outstanding debt, equity of the existing home, credit history, etc. A higher credit rating and credit score would mean lesser risk involved in lending to such a person and hence the home loan borrower can negotiate for a better rate of interest on the mortgage. There are a number of credit rating agencies, which calculate credit scores for a fee.
Evaluate the alternatives: Even though a home equity loan may seem like the best bet, it is better to evaluate other products like home equity lines, reverse mortgages, etc. For example, for people over age 60, it would be advisable to consider a reverse mortgage rather than a second mortgage on the existing home, as this could lead to foreclosure and could render one homeless.
The purpose of the home loan should also be evaluated and risky options like using the debt to pay off credit card debt should be avoided.
Shop around: It is important that the consumer do some research in terms of the home equity loans offered by various lending institutions like mortgage companies and banks. Employing the services of a broker may be useful at times, but eventually the fees that the home loan lender pays to the broker will be passed on to the consumer. The lender should be able to explain his mortgage terms clearly and should be ready to give an upfront idea of the risks and fees involved in the mortgage.
Read the fine print: Many consumers have found out the hard way that the fine print in the terms of the home loans or mortgage does matter! Terms pertaining to payment schedules and foreclosure conditions should be given special consideration. Other fees and prepayment clauses should be evaluated for the entire term of the loan.
There may be other issues like the inclusion of life insurance in the loan amount, which may effectively increase the cost of borrowing and may be unnecessary. Only after due diligence on such legal and financial issues has been done should the consumer sign the necessary papers.

Home Equity Loans [http://www.american-home-equity-loans.com] - Rates, in depth articles and professional second mortgage advice. Find the lowest home equity loans rates and lenders.

Article Source: http://EzineArticles.com/35321