Short Sale Queen

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

FHA rescinding the 90 day seasoning rule.

I’m trying to do a double close on an FHA loan.  I have
a mortgage broker who gets it and is willing and

HAPPY

to do them.

However, I missed the deadline!  As of June 28, FHA
will no long allow the 90 day seasoning rule.  No more
2 appraisals.

They are rescinding the 90 day seasoning rule.

They aren’t just making short sales hard to flip, they are
making real estate hard.  Do they not see the market
is in trouble and artificially inflated with the First Time Home
Buyer Credit?

And it will be even worse now that it is completely over
and people aren’t buying houses.

Real Estate is getting very frustrating but they are still
ways to make a difference.

You’ll need to be on my coaching calls to get the rest of the
story!

www.shortsalequeen.com

The Short Sale Queen® and Coach

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

Best Real Estate Coaching Available

IT’S NOT TOO LATE TO SIGN UP FOR THE NEXT COACHING CLASS.  GO TO WWW.SHORTSALEQUEEN.COM NOW!

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

Got Work To Do In Houses
Built Before 1978?

Do IT NOW!  AND LEGALLY!

But HURRY!  The new lead law has been delayed
to take effect until October 1, 2010!

so…

Get that lead repair done now!

If you are going to sand, pressure wash or replace painted
surfaces in a 1-4 family that was built before 1978

you don’t have to be EPA certified or the owner-occupant
to do the work until October 1, 2010.

So get the work done now AND get EPA certified too so you
can still get the work done after October 1, 2010.

• Think this law is stupid?
• Refuse to get certified?
• Wait until you get fined and then think about it?

All dumb ideas!  The less who get certified will raise the
prices that get charged for doing the work from those who do
get certified.  Remember the law of SUPPLY AND DEMAND?

Less people who are certified and can’t do the work will
significantly raise the price for the people who are certified
and can do the work.

It’s only $250 to get certified.  Learn the EPA ways.

Did you know:

• If you work on houses built before 1978 and you aren’t certified
  you can be fined $37,500 per DAY?  (Yes, I wrote thirty seven
  thousand dollars!)
• If you see people who are working on houses built before 1978
  and they aren’t certified, you can be reported to the EPA?
• If they report you they get paid part of the $37,500?

Yes, I said Nazi Germany.  Tell on your parents and collect money.

Yes, this is still America.  The lawmakers…we don’t know where they are
from.

Did you also know:

• You most likely won’t win a case in court if you fight the fine.
• A house built between 1960 – 1978 has a 24% chance of having lead?
• A house built between 1940 – 1960 has a 69% chance of having lead?
• A house built before 1940  has a 87% chance of having lead?
• The amount of lead dust needed to call your house “with lead” is less than the amount of sweetener in one sweetener packet?

Seems crazy doesn’t it?

The point is:  If you have work to do, replace windows, do
plumbing, electric, roofing, siding, anything that’s going to disturb
more than a 6sq ft area if it’s inside the house or a 20 sqft. area
outside of the house DO IT NOW!

DO IT NOW!   DO IT NOW!   DO IT NOW!   DO IT NOW!

All of those disturb painted surfaces and can create lead dust and
you can still have un-certified people do those jobs for a less
expensive price until October 1, 2010.  You have 3 months left!

Deb McMillan

The Short Sale Queen® and Coach

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