FHA Loan Modification Guidelines – Tips to Apply and Qualify

For most homeowners, the thought of having to file bankruptcy is one of the most terrifying things one can experience. If you’re having trouble paying your mortgage because of outside factors, you might able to qualify for a loan modification program. The FHA loan modification program has set forth to help consumers refinance their mortgage before they go into foreclosure. With this plan, you will be able to lower the interest rate on your mortgage and even lower your monthly payment to something manageable. However, there are several factors that will decide whether or not you qualify for this program. Here is a list of tips to help you apply and qualify for this new plan.

The first thing you need to determine when applying to this program is whether or not your loan was taken out from your lender before January 1, 2009. If your loan was taken out before this date, then you could be a good candidate for this plan. You also need to be living in the home that you are going to refinance and have it listed as your primary residence. If you are not living in the home and it is not listed as your primary residence, you might not qualify for this program.

Another factor to look at when applying for this curriculum is your payment history. If you have been making the payments to your mortgage on time and in the full amount, then you will look better to your lender when applying for your modification. If you haven’t been making your payments, you might find it hard to qualify. Your credit score will also come into play when you are applying. Make sure that you have a good credit score or are willing to take a hit on an interest rate. This can save you from losing time.

All of these factors will determine whether or not you will be able to qualify for this plan. The best thing to do is get all of your income tax returns from the previous years together along with your current mortgage documentation. When you have all of this together, contact your lender and see if you can qualify. They will be willing to take a look at all of your information and tell you whether or not you are a good candidate. Do not wait to make a difference in your life. Act fast and start saving your money.…

You Can Negotiate With the Bank For a "Better Cash For Keys Deal" After Foreclosure

As a last resort before beginning eviction proceedings, banks will often offer homeowners or leftovers renters a cash for keys deal. Most of the time, though, these offers will be in the best interests of the bank, but will not help out the people living in the property very much.

Many banks will hire a real estate or property management agency to make the cash for keys offer. For example, t may be as little as $ 500 and two weeks to move out and turn over the home. Honestly, though, this is very little to a family who has just undergone a financial hardship.

Banks make these offers to persuade owners or tenants to leave a house without causing any damage. They reason that it costs less to pay people to move than to go through eviction proceedings in court and end up with a possibly severely damaged property.

So what is a homeowner or tenant to do if the cash for keys offer is ridiculously low? They should call the agency back and ask for more money and more time. Cash for keys deals are 100% negotiable, up to a certain reasonable point. Those who have been offered such a deal should keep in mind a few things about the situation.

First, if they destroy the property on their way out, because they are frustrated about the eviction, it will cost the bank a lot more to fix up the damage. Keeping previous owners and renters happy and the property in good condition is worth a bit of money to a mortgage company who has to sell that house later on the open market.

Second, if $ 500 is not enough for a family, they need to determine how much really will help them. $ 750? $ 1,000? In any case, they probably should not expect to get much more than $ 2,000, if that. But $ 1,000 may pay for most moving expenses and help with a deposit on a new apartment. If they need more money, the people living in the property after foreclosure should ask for it and explain the situation to the agency.

Third, homeowners can probably get 21-30 days to move out, if they ask for it. Two weeks is a small amount of time, and probably not enough to get everything out and keep the property in great condition (hint, hint). But if the borrowers or tenants need more time than was originally offered, they can certainly ask for it and can probably get it easily.

Anyone who has been extended an offer should keep in mind that a cash for keys deal is negotiable with the agency that offered the money and the lender that owns the property now that it has been foreclosed. All of this is allowed (including extremely low offers), but negotiating for a better transaction is also allowed.

The tenants should come up with what they want and need to move out peacefully, keeping the house in …

Repairing a Sinkhole Damaged Home? Beware of the Money Pit

If you buy, sell or own real estate in Florida or have been a resident in Florida for any length of time, you are probably well aware that Florida is more prone to sinkholes than hurricanes or tropical storm damage combined. It’s impossible to determine the amount of monetary damage caused annually by Florida sinkholes. One sinkhole damaged home costs on average between $100,000 to over $150,000 so we could do the math, however, we just don’t know how many homes or businesses are actually affected.

Although there is a database maintained by The Florida Geological Survey of the number of reported sinkholes in Florida-no one really knows the true number of sinkhole homes or occurrences of sinkholes in Florida and the only data that is collected are data based on the number of observed Florida sinkholes. The Florida Geological Survey (FGS) has gathered data on Florida Karsts (sinkholes) since 1907 in an attempt to understand the relationship between karsts and the state’s groundwater resources and aquifer systems.

However fascinating to geologists -sinkhole formation in Florida and its relationship to “karsts” and the “aquifer” is the last thing the owner of sinkhole damaged home cares about. If you suspect your home has been damaged by a sinkhole than what you need is “HELP.” If you have seen or experienced any one of these 9 common signs of sinkhole activity, than you should promptly educate yourself on what to do and maybe most importantly, what not to do next.

1.) You have depressions or an opening in the ground.

2.) Cracks running in the interior floors, walls or ceiling.

3.)The windows and doors do not open and close properly.

4.) There is a slope in the floor of the house.

5.) Stair step cracks on the outside walls of the house.

6.) Cracking or buckling of the concrete slab floors.

7.) The well water has dirt or debris in it.

8.) Feeling the house shift under your feet.

9.) The house next door to your home is a Florida sinkhole home.

There could be other signs of sinkhole damage to your home such as plumbing and other various problems, and it is best to seek the advice of an expert sinkhole engineer in order to determine what steps to take. Are You Prepared for a Sinkhole Damaged Home?

Owning a sinkhole damaged home can be costly and even once repaired; owning a home that has been affected by a Florida sinkhole can be a continuous nightmare. Most homeowners believe that once a sinkhole damaged home is repaired, it is no longer a financial or otherwise dangerous risk. This is not the case. Owners of unrepaired sinkhole damaged homes can spend in excess of $150,000 repairing a home only to have the sinkhole and the damage reappear over and over again. Often, selling your home to an investor who will buy your sinkhole home “unrepaired” is the wisest choice. As difficult as it may be to part with the damaged home, it …

Help! I Have To Evict My Nephew!

The eviction of a friend or relative is not easy to do. It has to be one of the most difficult lawsuits, if not the most emotionally draining, of all types of evictions. You may be one of the lucky ones who can rent to a friend or relative with no side effects. Still one day, there may come a time when you have to look your friend or family member in the eyes, and ask him or her to leave your apartment.

In the eviction of a relative stranger, even a long-term tenant, the process isn’t personal, just business. The tenant can’t pay the rent, so he has to leave. It’s the end of an association with more or less minimal emotional ties between the tenant and the landlord.

Evicting a friend or relative is one in which sides may be chosen, and lines drawn in the sand. Once the eviction notice has been delivered, do not expect many friends or allies to come to your aid. Depending upon the circumstances of the eviction, you can expect to have your life made miserable by anyone impacted by your decision.

This is because the expectations of a friend or relation are much higher than that of a stranger. If there is a tenancy problem, the expectation is that you will treat the tenant more as a friend or relative than as a financial investment problem. You will be asked to accept less than you normally would for rent arrears, to wait longer for your rent, and to accept behaviors that you would not normally tolerate.

For example, let’s say you need to raise the rent. A rent increase could be perceived as a betrayal of your friendship. Your aunt could think you are taking advantage of her. It doesn’t make sense, but when money is concerned, all bets are off. As far as a friend or relative is concerned, you are in his or her pocket. A belief that you are soaking your tenant for more money that you ‘don’t really need’ could cause your family member to not pay the increase.

Be clear and resolved about why the eviction must take place. Have all of your written documentation in place. Check all of your paperwork, rent cards, letters of warning etc. before you send your notice to quit. Make sure you have a leg to stand on before starting the eviction case. Conduct a due diligence of your property and the legal case.

Hard feelings will sometimes come with the rental and eviction territory. Do not expect to be able to discuss the case calmly with the offended tenant. Do not expect a cool head to prevail over your eviction action. If you evict your nephew, expect your sister or brother to be totally ticked off at you. Your friend may think you are a jerk for evicting her because she parties loudly every weekend, disturbing your other tenants. Your aunt may not come to your aid when your …

How to Buy and Sell Domain Names for Big Cash Profits

Before I go into the details on how to buy and sell domain names for big cash profits, let me first discuss the steps you have to take in order to own a valuable web property that is worth selling. As you may already know, a domain name is a virtual real estate that is worth thousands or millions of dollars if it has high commercial benefit to a potential buyer.

While it is true that an empty domain can be sold for thousands of dollars, there is little you can do to sell it profitably if it is not a one-word or two-word domain name. To this end, it is very important as a domain flipper or entrepreneur to learn how to make your web property valuable so as to attract the kind of money you are hoping to earn from a willing and able buyer.

So, you have to understand the specific characteristics of a domain name that potential buyers will be scrambling to possess at all cost. These characteristics or elements of a valuable domain are what you should consider before buying or hand registering a domain name in the first place.

Characteristics of a Good Domain Name

1. It Must Have Commercial Value

Majority of websites that are built on the internet are for commercial purposes. It follows, therefore, that your domain name should have commercial intention if you want to make money online from it. In other words, it should be short, brand-able, generic, marketable and easy to remember.

One-word, two-word and generic domain names will fall into this category easily because they are highly sought-after in the secondary domain market. A name that clearly depicts a specific market, product, service or subject will be commercially valuable in this regard.

2. It Should Have a High PageRank and Backlinks

For you to be able to sell a domain name quickly, it must have unique selling point (USP) going for it. This could be the age of the domain name, high PageRank or lots of relevant back links. Having these characteristics will definitely pass some authority and credibility to the website that the new owner of the domain will build on it.

If you ask me how to buy and sell domain names for big cash profits, I will simply tell you to build a website or blog on a domain, optimize and monetize it with shareable and quality content. You can then build back links to it in order to create authority.

How to Sell a Domain Name

To sell your domain name successfully, you must be ready and willing to market it on the internet. The old saying that if a man knows how to build a better mousetrap, the world will beat a path to his doorstep is no longer tenable.

As a smart domain flipper, you have to explore various marketing media to find the right buyer for your web property. Immediately you buy or register a domain name, you should start …

Benefits of Using SEO Services

At this time using SEO services for business interests is felt the usual thing. For that many, we see that there are people who do not look busy outdoors but have a lot of financial income. Everything is of course from the income earned from businesses using online ways. But with so many people using search engines or keywords. So make the online business requires such services for the benefit of his business. Baton Rouge SEO provides the benefits of using quality and professional SEO services.

The benefits that should be selected are:

  1. Getting keywords

With these services will help get the phrase easy in getting keywords easily. These keywords relate to what many people are looking for on the internet. So hopefully your website will display information about this. For that make sure that choosing the right keywords becomes an important thing to do.

  1. Increase traffic

When a visit is greater it will help in making it easier for people to see what the product has to offer. So the possibility of the product sells quickly becomes desirable. Thus the service becomes a convenience in getting profits in the period to come. Try to choose about trusted services and get the right credibility.

  1. Quick control

When you use these services then the results will be more optimal. This is because the given control becomes more leverage. Everything is related to the possibility if you get a decrease in function. Usually, this decline is due to increasingly tight business competition. Then it will be easily optimized and immediately fixable that will benefit you.

  1. More focus

You will, of course, become easier to do so. This is because all you have to do is develop and also make the website more advanced. As for the existing technique is left to the professionals. Thus the result becomes a very optimal thing to get perceived convenience. For that SEO services must be in accordance with also can play a more optimal role.…

The ABCs of Tax Lien Investing

Are you interested in yields of 6 percent to 50 percent on your money, secured by a property tax lien against real estate?

Author Joel S. Moskowitz explains how investors can buy little known tax lien certificates that pay high yields in his book, “The 16 Percent Solution”

As a bonus, although the author warns it rarely happens, the investor might get kicky and foreclose on the property. However, he cautions that property owners usually redeem, so investors must be content with just high yields.

What is a tax lien certificate?

When a real estate owner does not pay their property taxes, 27 states and 1,152 cities and counties sell tax lien certificates to investors. The government gets its property tax money immediately. The investor buys a tax lien, which is then secured by the real estate.

Tax lien certificate yields vary according to state law. Arizona’s top rate is 16 percent, Florida pays as much as 18 percent, but in Michigan, the rate goes up to 50 percent in the second year. If the property owner doesn’t redeem the property from the investor by paying the back taxes plus the high interest rate, the investor gets the title and possession of the property.

New investors can start small, perhaps investing a few hundred or a few thousand dollars, and then buy more property tax lien certificates later. Although not all states are smart enough to offer tax certificates to speed up tax collections, after reading this book, they’ll learn why they should.

At the time of writing, States currently offering tax certificates include Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi Missouri, Nebraska, New Hampshire, New Jersey, New York, North Dakota, Oklahoma, Rhode Island, South Carolina, South Dakota, Vermont, West Virginia and Wyoming.

The book’s outstanding appendix lists the interest rates and state-by-state procedures. For real estate investors who want to earn high yields without physically managing property, this new book shows how to do so. It also explains the few pitfalls to avoid and how to buy die best certificates with the highest profit opportunities.

On my scale of one to 10, this excellent book rates a solid 10.…

What is Deed Grabbing? How to Get a Tax Sale Property Without Attending the Auction

If you are interested in or working in the real estate industry, you’ve probably heard the term “deed grabbing” at some point. Deed grabbing is the method of obtaining tax sale property without attending the auction – by approaching the owners of tax delinquent property just before they are about to permanently lose the property, and offering to buy their home for a fraction of its value.

The term “deed grabbing” was probably coined by the large tax property investing companies who buy these properties at tax auction. Deed grabbers and big tax property companies aren’t friends. Often, deed grabbers grab deeds right out from under these big tax sale companies, just before they are about to foreclose. They also call deed grabbers “deed pickers” and “bottom feeders.” The big tax companies, needless to say, are sore losers who don’t care much about the tax delinquent owner and mostly care about their bottom line.

Since there is still a year or so after the property has been “sold” at auction before the big tax investing company can foreclose (sold in quotes, because it isn’t really sold that day), this is the best time to approach the tax delinquent owners. At this point they much sell, and they know it. Many have already moved on at that point, and are happy to sign their deed over to a deed grabber just to avoid the big company getting it. You can grab deeds during this time for as little as a few hundred dollars

Often, deed grabbers are the last source of help for the delinquent owners, and without the deed grabber coming and buying their home for something, the owners would lose everything. It’s a win-win situation at that point. That’s how to get tax sale property without attending the auction while at the same time helping out the owner. Don’t let the fact that these big companies call you a “deed grabber” stop you. They can go eat paste!…

How to Raise Your Credit Score From 499 to 600

For many people who want to fix credit rating, It would be ideal to have a 700 credit score but if your FICA scores are lower than you may need to make some adjustments to the way you’ve been doing things.  A low report affects your ability to get a mortgage, buy a car, apply for a store account and just about everything else having to do with money.

If your FICO score is between 499 and 600, then here are some simple methods that allows you to fix your credit report.

  • Get a copy of your credit report with credit scores online.  If you’ve been denied a loan for any reason, the reports are free.  If not, they are free annually from each of the 3 credit bureaus.  If there are any mistakes report them to either Experian, TransUnion or Equifax, whichever one had the mistake.  Once you know the problem then it’s easier to make repairs.  If there is a low number, you can attach a letter that explains the circumstances such as losing your job or getting sick or whatever happened at the time.
  • Paying off all your bills on time or completely will move your numbers up, but not enough to move 100 or so points.  Making a payment when it is due and then another after it is due, will increase your score more rapidly since it is computed monthly.  So paying off more than your balance really helps.
  • Pay off the card with the highest interest rate first while making more than the minimum payment on the others.  Paying more than the minimum always increases your ratings.  This will also reduce the overall amount that you owe which also affects your score.
  • Reducing the amount you own on all of your loans or notes each month when compared to the overall amount of credit available to you will also improve your credit score.  If you always have 100% credit available like many people who pay off their cards every month, you can actually have a higher score if you say keep a balance of say 10% of the available credit.  Remember it’s a “credit” score not a cash score.
  • Sign up for your bank’s online bill payment program and make sure you pay more than the minimum on each credit card.  You will never be late and never worry about stamps or the mail getting picked up on time.  Most of it is done electronically.
  • If all else fails and your score is really low, then try to convince a relative with a good score to allow you to piggyback on their credit.  You will immediately see an increase in your score due to their mentoring, strong history of good credit and the opportunity for you to learn more about good credit ratings.

Credit scores are just one part of get a lower interest mortgage or credit card.  Other factors should be considered just as important.  Knowing as much as possible before you apply …

How to Buy a House For Back Taxes, Dirt Cheap, Without Competition

So you’re looking for a smarter way to buy a property, either to live in, or to invest in. Congratulations. If you’re reading this article, it means you’ve leapt out of the “thinking” phase and into the “doing” phase, and most people never make it that far. There are many deals to be had, if you’re willing to do a little research.

You’ve probably heard that tax foreclosure property is a great investment, and you haven’t been led astray; but now, you’re going to learn how to buy a house for back taxes, dirt cheap, without dealing with the headache of competition. If you’re looking for a cheap property to buy for yourself to live in, stay tuned as well- this technique will work even better if you’re not an investor!

Right now, throw out everything you’ve heard or read about tax sales. If you’re smart, you’re going to figure out quickly that you can’t compete with all the big companies that will be clamoring to bid against you at the sale. Tax sale, be it for deeds or liens, is not a place for the savvy investor in today’s market. There’s a much better way for you to buy a house for back taxes: from the tax delinquent owner himself.

Most people overlook this strategy, which is why you’ll find next to no competition. If you’ve ever tried buying directly from an owner in mortgage foreclosure, then you understand why this is so widely unappealing to failed mortgage foreclosure investors. Frequently you can’t get these owners to return your call for the life of you– and if you do get a deal, then you have to deal with mortgage, the second mortgage, the back bills, the back taxes; but when you buy a house for back taxes, it’s a different animal.

Why?

Because these houses almost never have a mortgage!

That’s right. The mortgage company takes care of any tax problems to avoid losing their interest in the property. So you’ll find almost all these houses are free of a mortgage, or they wouldn’t be up for tax sale in the first place.

Another thing that might seem counter-intuitive is that the owners will almost always return your calls, and when they do, they’re eager to make a deal with you to sell to you, and for dirt cheap, just to get the property out of their name! This is because, as you’ll see, many owners of these properties aren’t people who are down on their luck, and are losing their homes. They’re people who inherited property, or absentee landlords, who have had it with this economy, and actually let the property go to tax sale on purpose, just to get rid of it.

This gold mine of owners can be hard to find, making them great prospects, and you’ll be pleasantly surprised to find how many of these owners are ready to hand over their deed for a couple hundred dollars to you, just because they’d rather see …