As the economy sinks and layoffs and mortgage delinquencies rise, many workers are worrying about job security.
For homeowners and home shoppers, a major concern is how to pay the mortgage if they lose their jobs.
“One (lost) paycheck has definitely been throwing a lot of them over the top,” says John Lawrence, who manages Wells Fargo [...]
Yearly Archives: 2001
Strapped Borrowers Get Some Slack Most mortgage lenders now offer temporary plans to cut payments.
December 1, 2001 – 5:42 pm
CHANGE BEGINS WITH CHOICE & TODAY IS YESTERDAY’S TOMORROW
December 1, 2001 – 5:41 pm
Any day we wish; we can discipline ourselves to change it all. Any day we wish; we can open the book that will open our mind to new knowledge. Any day we wish; we can start a new activity. Any day we wish; we can start the process of life change. We can do it [...]
Buyers Call the Shots in Recessionary Real Estate Market
December 1, 2001 – 5:40 pm
SAN FRANCISCO — Recession is in the air and the evidence is all around: A sagging economy, a 25.6 percent plunge in Bay Area home sales in September. Together, these conditions spell trouble for the residential real estate market, right?Not if you happen to be a buyer.
If this market were a tennis match, the score [...]
The “R” Word
December 1, 2001 – 5:39 pm
This is a follow up article from my October Issue “What Now“
Well, it’s official. The “R” Word has been spoken. We’re in a recession and expected to stay in one until the later part of 2002. What does a real estate investor/buyer do now?
After you’ve popped that bottle of champagne and celebrated our first real [...]
Tools and Calculators
November 1, 2001 – 5:38 pm
In my June and July 2001 Marketing Mania columns, I reviewed two great tools from Homegain.com:
“What’s Your Current or Future Home Worth?”
“The Home Sale Maximizer”
Homegain.com has done it again! Calculate how much a project will cost, whether you do it yourself or hire someone to do it for you.
They now have Two New Home Buyer [...]
Problem Solving & Results
November 1, 2001 – 5:36 pm
To solve any problem, there are three questions to ask yourself: First, what could I do? Second, what could I read? And third, whom could I ask?
The real problem is usually two or three questions deep.
If you want to go after someone’s problem, be aware that most people aren’t going to reveal what the real [...]
Holding On To Your House For Late-Paying Borrowers, There’s Help Before Foreclosure By Sandra Fleishman
November 1, 2001 – 5:35 pm
With unemployment levels climbing before the Sept. 11 terrorist attacks and the economy plunging since then, it’s no wonder people are starting to get nervous about paying bills and mortgages.
The jobless rate before the attacks had risen to the level of 1997.
Credit card delinquencies already were the highest they had been in two decades. The [...]
Overcoming the Fear Factor
November 1, 2001 – 5:35 pm
I don’t know about you all, but it seems that lately I’m happy to let my money stay in the bank and my rear end on the couch watching CNN. While my little life here in Chicago, IL has not changed as drastically as those of many folks in our nation, the lure for conservatism [...]
Cancellation of the Home Equity Purchase Contract
November 1, 2001 – 5:33 pm
The Home Equity Purchase Contract law (California Civil Code Section 1695 and following) strictly regulates the content and enforceability of an Equity Purchase Contract. With limited exceptions, all contracts by which a purchaser acquires title to a residence in foreclosure are subject to the law.
Cancellation Period
All Equity Purchase Contracts are subject to a “cooling off” [...]
Stop the “Feast or Famine” Syndrome
November 1, 2001 – 5:33 pm
The most important thing you – as a foreclosure investor – needs to be doing each and every day is to keep your “pipeline of motivated sellers full.”
One of my Active Foreclosure List clients has recently told me “he felt like a lion hunting big game in Africa”. When he needed to ” do a [...]
