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The banks keep changing. Often that is ok for us. This time it is really good.

With the dip in property values and the banks getting desperate, we are closing more deals than ever before.

Now is the time to get in on short sales! The banks don’t want these houses and you can help the homeowner, yourself, the neighborhood and even the banks when you buy houses today at deep discounts!

I have a friend who owns hundreds of properties. He buys them at the sheriff sale. Short sales take too long they say. OK. More for me.

But they are not selling properties right now and that is where they make their money. Turning over properties for a profit.

In short sales, if there isn’t a buyer, we negotiate the price lower so we can find a buyer. We make money. We can’t pay above retail. And we don’t usually buy until we have a buyer. Unless it’s a great house and we KNOW a buyer will be along. This is a great deal!.

So my tantrum today is DO short sales. Put cash in your pocket today! We can show you how. And they work in any market!

To get your questions answers, log on to www.shortsalequeen.com and ASK DEB!

Believe in your own success,

Deb McMillan
The Short Sale Queen and Coach

Here is the prisoner’s dilemma.

When you cloud the title of a short sale with the Notice of Option and your C buyer goes behind your back (after signing a contract with you for $10,000 more than you owe the Seller A) to Seller A and creates their own deal, cutting you completely out of the deal, do you show up at closing?

Here’s the rest of the story.

We knew C had gone to A because A called B and was furious.  You’re making $10,000 on my house!  How could you do that and not give me any of the money?

C had proven to be a sneaky snake oil salesman.  And he painted the picture that B, the investor, was really the sneaky snake oil salesman and A believed it.  When in fact, B was the only one doing what the Option paperwork and subsequent Purchase Contract to C said she would do.

• Buy the property,
• Find another buyer,
• Resell the property and
• Make her money on the spread.

The investor had spent months working on this transaction only to be left out in the cold at the end.  She did need to close by the end of the month to meet the banks’ requirements.  She would have made it too but C went to A, took more time, C decided he could negotiate better with the bank and get an extension into the following month, making up a story to A and forcing B to back out.

B did however, send an acceptance letter to the attorney who was to close the now A to C purchase that she would uncloud the title for $5,000. – release her Notice of Option.  Just 1/2 of what she would have made had everybody done what they originally agreed to.

A mistakening sent an email to B (which was meant for the closing attorney) saying she felt sure B would “get out of the way with a payment of only $2,000.  Just tell her to show up at 4:30p.m.  she’ll show up and take it, we don’t have to pay her $5,000″.

I’ll publish the results of the survey here in a few weeks.

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

Get these updates and more from the Short Sale Queen’s Membership site. Become a member here:

Join the Royal Court Here

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

To my avid readers, I have news about the Short Sale Queen!  She has started a membership site.  You can find it at the members.short sale queen.com.  Read the first page to see the benefits you’ll get!

Through the end of December, you can join the site for just $1.  Yep, that’s right.  Just one dollar.

The following months $39.95 with new articles from me, new motivations audios to listen to each month, aritcles by guests on topics that you need to know to get your real estate deals closed.  Where to find money, what to do when deals get turned down, how to get the loss mitigator on your side, even guest articles from Loss Mitigators!

There is also a NEW  monthly newsletters from me on Short Sales as well as some of the weekly coaching calls.  \

You don’t want to be left out of the most up to date info on short sales.  Just log into members.shortsalequeen.com for just $1 now through December 31, 2008.

Don’t be left out!

Deb McMillan
The Short Sale Queen