Articles by Deb

It’s sad. The stimulus money isn’t working according to USA Today. Lots of money going to different states and the states are seeing no change in the recession.

In fact, the foreclosure rate across the county is 12%. Prime fixed rate mortgages are the mortgages that will have start seeing increased foreclosures soon. When will it stop?

Even though I did write it a while ago, the Loan Modifications proposed by the current administration will only increase the foreclosures. Some of the banks I am calling to get a loan modification still don’t have the guidelines from the government to start the process for homeowners to get a loan modification.

Some of these same banks are so frustrated with this, they are setting their own guidelines.

One half of the total foreclosure rate in the country is in five states:
California
Arizonia
Nevada
Florida.

What does this mean for us? Now is the time for short sales.

If you are a new investor – meanng never bought an investment property or maybe only have one or two – now is the time to be buying properties at these all time low values.

If you are an investor who bought houses and financed them to 80% and now the value is only 70% – you need to be buying properties at these all time low values, renting them out and using the cash flow to keep your other properties from going to foreclosure.

It’s simple really. Turn off the radio and the gloom and doom news. Stop filling your head with lies and trash the “they” people want you to believe.

Research your area and find out what true rents are in your area. Buy lower! It can be done easily in today’s market. You can be the new real estate mogel, the new real estate millionaire in your area.

Stayed tuned to other great ideas to keep your head out of the news and improve your attitude, your cash flow and your belief in your own success!

Deb McMillan
Short Sale Queen and Coach

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Yes, it’s been a while since you heard from me.  I always want to do better.  and now I’ve got something great to say!

If you’re on my private email list then you already heard this from me.  But here goes again.

Fannie Mae has changed their guidelines for investors purchasing property from already having four properties (mortgaged by any lender) up to  ten mortgages held by any lender. 

Maybe they are seeing we are the saviors of the economy.

Here’s the link www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0902.pdf

and here’s in essence what it says:

If you don’t yet hold 10 mortgages in your name or LLC, you may still qualify for a Fannie Mae loan.  Your credit score needs to be 720 or above and there is of course a down payment due.  But the interest rate will be closer to the current interest rates available to non investor owned properties.  This program starts March 1, 2009.

• So get those credit score up.
• Get prequalified and
• Start looking for REO’s and working those short sales HARD!

Good Changes are coming and the prices are right!

for more information on Short Sales, check out

The Short Sale Queen’s Member Site

Deb McMillan

Short Sale Queen and Coach