jeremy roberts

Here’s the (my) Answer to WHY
Banks Make Such Crazy/Illogical/
Sometimes Stupid Decisions! (Part III)

Second:

This will be a little political but bear with me.  It (as most of
what I do and say) is based on data.  It’s drilled in me.  Data
shows what works and what doesn’t work.  It shows the bank
whether my offer is a good offer or not.

So here’s my scoop

You know/understand that

• Fannie
• Freddie
• HAFA
• HAMP
• FHA
• TARP

are all tied to the government, The Federal Government.  They took money from
the government and are now beholding to the government…even if they did
pay back all the money borrowed.  They are still getting benefits and probably
owe them things we don’t know about.  I know you do know that.
It’s just important that you remember that for my following reason.

Just recently, President Barack Obama appointed Dr. Don Berwick to the position of
Head of Medicare and Medicaid for the US Federal Government.  Obama
appointed him and skipped the Confirmation Process.  Dr. Berwick was just
appointed.  No opposition. No opportunity to discuss any opposition and for
those reading and feel I’m being biased, no opportunity for the positive side of
his life either and the good he has brought in the past and could bring to our
country in the future.

And now you are wondering “what does a new Medicare appointee, health
care division have to do with banks making stupid decisions and the real
estate business/market.”  Am I right?  Hang on and hold on.  I’m getting there.

In a speech Dr. Berwick made on July 1, 2008, at the NHS National Health Service
single payer health system in Great Britain, he said and I quote

“any health care funding plan that is just, equitable, civilized and humane must MUST
redistribute wealth from the richer among us to the poor and less fortunate.
Excellent health care is by definition redistributional”

He said this about Britain who has a 600% higher prostate cancer death
rate than the US.

He also talks about the current American Health Care system as “running
in the darkness of private enterprise.”  Is this how they might see the real
estate industry?  Redistribute the real estate to the poor and less fortunate
because they believe private enterprise can’t do it…without government
help?

Don’t take my word for it.  Here is the link  http://www.redstate.com/ben_domenech/2010/05/12/obama-nominee-donald-berwick%E2%80%99s-radical-agenda/

Last I remember to “redistribute wealth” was a communist belief.  And, yes,
he said this two years ago.  Yes, a leopard can change their spots.  Yes, yes, I
could be reading way too much into this, but what if I’m not?

What if this has been the plan all along

• to take over America s-l-o-w-l-y, one business at a time?
• And re-distribute wealth?

Small business are failing.  Ask a chiropractor, a doctor who
accepts Medicare patents, etc.  Look
at your local malls and count the empty stores.   Let’s see, they have

• General Motors, Chevrolet, Cadillac, Buick, GMC, etc.
• Chrysler, Jeep, Dodge, Ram, etc.
• The banks, Freddie, Fannie, FHA, all the defaulted notes are now owned
  by the government
• Land 20%+ of the US currently

The Government Wants To Own More Houses

Are they planning on “giving houses to government employees” or giving houses
to welfare?  They could do this…in exchange for their vote.

Did you know the government is “renting” houses to tenants when their
landlord’s rental property has been foreclosed?  The government is widening their
horizons.

Did you know the government owns 20-30% of the land of this country?

If we have to have the government approve everything,
we have lost our freedom.

If the government does own 1/2 of everything in the country, do we have the
ability to buy things?  Houses, businesses, land? or is our only choice
to work for the government and lose our freedom?

This would make more people go into foreclosure, less people to buy houses,
more houses in foreclosure to give to the poor and take from the rich.

If the banks have been instructed to take back as many houses that don’t met
the stringent criteria then the government will own even more houses.

Don’t get me wrong.  I pray I’m wrong.  I pray more and more people see what
is going on and their is still time to stop it.

I’d love to hear your comments.

We and my students are still closing short sales.  We are still doing
double closes.  We are still make $20,000 to $30,000+ on double
closes.  But not as often as we did because of some of the bank’s
restrictions and their silly decisions.

I will continue to do short sales.  We are helping homeowners.  We are
buying, selling, renting, houses and making money.  We are making profits!
We are just being more selective in the houses and banks we do work with.

I’ve got 3 scheduled to close in August that we will be making
$20,000 plus.  There are opportunities.  It is only over when we quit.

I’m not quitting and I won’t let you quit either.

Once you know the potholes, it is MUCH easier to go around
them.  This is exactly what we talk about and more on the
coaching calls.  Are you ready to sign up?

You don’t want to be working short sales without some insider
information.  Get it on my coaching calls.  Call NOW!
513-868-1275  ( I know it’s not an 800#.  Call it anyway!

Deb McMillan
The Short Sale Queen® and Coach
Get Started with Short Sales
Sign Up for Our Next Coaching Program Now
ShortSaleQueen

I know.  It seems like an oxymoron.

• Necessary and attorney
• Reasons For an attorney

All in the same sentence.

Very scarry and I hope you haven’t stopped reading because you think I’m on drugs or something.  I’m not, really.  And it’s too early for a glass of dry red wine.

However, it is 5 o’clock….nevermind.

Back to the attorney thing.  I actually met one who might be worth his weight in gold.  Wait before you doubt me.

He represents homeowners who are losing their house.  He actually goes to court and represents them when necessary.  He does loan mods for them.

He does seem to understand that HAFA and HAMP is a bad idea

The cool thing was he had a great idea to confirm no deficiency jusdgement after the sale almost no matter what the acceptance letter said.

On attorney letterhead, have the attorney write back to the bank that twe are confirming their belief to this letter means the bank will revmove the lien from the property and not now or ever come after the homeowner the unpaid balance of the loan.  That this letter says paid in full and no more money is due ever on this loan.

OK, see why an attorney should write it?  It needs to be in legal ease – but the point is, if the bank doesn’t respond and say oh no that’s not what we meant, it is a binding contract.  And you take the signed copy (signed by the homeowner) and record it with all the closing docs.  Deed, etc.  So it is there for future debt collectors to see!

See, an attorney who gets it!

For $200 he’ll do a document review making sure everything isin place and write this letter to the bank.

This makes an attorney (one who gets it, of course) an important part of your team.

Call me, I’ll share his name and number!

Deb McMillan

The Short Sale Queen® and Coach

Always looking for better, smarter ways to get short sales done better!

www.shortsalequeen.com

I keep hearing what a good thing it is that the banks have paid back the TARP money to the government.

That they are right again with the public and tax payers and all isrithgt with the world.

It just has felt wrong some how but I didn’t know enough to talk about it.

I have learned a little more.  Did you know that once the banks pay back all the TARP money they have borrowed from the government, they now get tax credits on each short sale or loan mod and maybe foreclosure that they do?  The get a tax credit for the amount of debt they forgive to the homeowner.

Therefore, the HAFA program that I wrote about last, the 2nd and additional lien holders are “supposed” to forgive the homeowner of the  unpaid balance and not go after them for the difference.  However, the first declaries it doesn’t and won’t have time to “ensure” they don’t pursue the homeowner so if the homeowner doesn’t get something FIRM in writing, those additional lien holders CAN and most like will go after them for the unpaid balance.

Even though they get a tax credit from the government.

No wonder they paid off err, I mean paid back the government so quikcly.

What do you think about all this?

Deb McMillan

The Short Sale Queen® and Coach

www.shortsalequeen.com

I’m still getting responses but it is very even between all 3 answers.

Show up and accept $2000
Let the house go to foreclosure because no $5K check showed up
Don’t go to closing and see if a $5K check shows up.

Here is what my student did. She didn’t show up at closing. They called her back a couple weeks later and paid her $500 more to release the Notice and close the transaction. She received $2,500 total.

The foreclosure was filed and there was still six months before the sale. They had time to come to some negotiated terms.

I think what she did was right. All three people had a signed agreement and should have had a scare about not fulfilling their part of the agreement. I would have negotiated more than $500 but my student was happy. The transaction closed then everybody was happy! It was still a win-win-win.

The Best Short Sale Training AvailableClick here!

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.