WIAcademy EducateBlog

Most of the foreclosure stories in the press today focus on what happens to the homeowners. Here’s an article that looks at the other side.

Flip side of foreclosures
For buyers, losing their house is devastating. But foreclosures create steady business for specialized real-estate agents and workers who prepare homes to sell again.
BY JENNIFER BJORHUS
Pioneer Press

The $700,000 craftsman-style house is barely three years old — 3,500 square feet and full of oak woodwork, with two fireplaces and a Jacuzzi, all on just under an acre of woods in Ham Lake.

But what most interests Craig Murphy is the eviction notice tacked on the front door. It tells him the owners were officially given the boot a few weeks earlier. Inside, the house looks clean — no hostile owners, no need to haul away abandoned belongings. They even left the appliances. That's good news for Murphy, a specialist in handling foreclosed houses. He can pretty much get the locks changed and move on to his next assignment.

Click here to read the rest of the article.

Posted 04:55 PM | Permalink | Comments (0)

Nebraska and Indiana are two of the latest states to look at placing restrictions on how foreclosure investors can operate. If you are an investor in either of these states, you need to pay attention as these bills make their way through the legislative process, because they could affect your business. If you’re in another state, be aware of this trend of consumer legislation and consider getting involved in the political process in your state to protect the interests of legitimate real estate investors and foreclosure specialists.

These bills have been introduced and could change before (and if) they are passed. To learn more about the Nebraska bill, click here. For the Indiana bill, click here.

Jackie

Posted 02:43 PM | Permalink | Comments (0)

The clock is ticking. The Wealth Intelligence Super Conference in Orlando is just two weeks away. The conference begins on Thursday, Feb. 8, with registration, some exciting bonus sessions for early arrivals, and the traditional open forum with its free-wheeling question and answer format. On Thursday evening, you’ll be introduced to the newest members of our International Hall of Fame.

Then on Friday morning, we get down to work, with session after session of informative presentations, capped by Marshall Sylver’s mind-boggling Las Vegas-style show. Saturday and Sunday are more of the same.

There are some places still open, but you need to make your reservations now. Click here for details.

Hope to see you there!

Jackie

Posted 07:02 AM | Permalink | Comments (0)

Need a new credit card? Don’t just call your own bank or respond to the next ad you get in the mail. Shop around. The terms credit card providers offer can vary widely and you want to be sure you’re getting the best deal for your particular needs.

Click here to learn more about comparing credit cards

Jackie

Posted 05:35 PM | Permalink | Comments (0)

This really isn’t directly related to real estate investing, but it’s a demonstration of how our income tax system is so pervasive and how we must consider the tax consequences of virtually everything we do, even when it comes to giving gifts.

Click here to read the news release from the IRS titled “IRS, Hollywood Foreign Press Association Reach Agreement On Gift Baskets.”

Then click here to learn about a solution to the problem, which is the FairTax.

Jackie

Posted 04:16 PM | Permalink | Comments (0)

Late payments for most consumer loans rose in the third quarter of 2006, according to the American Bankers Association’s (ABA) Consumer Credit Delinquency Bulletin. Credit card late payments increased to 4.57 percent in the third quarter, compared to 4.41 percent (seasonally adjusted) in the second quarter of 2006. However, credit card delinquencies improved from the third quarter of 2005, when late payments reached 4.74 percent.

James Chessen, ABA's chief economist, said, “With savings rates negative and home values stagnant, the spring has gone out of shock absorbers that handle life’s financial bumps in the road. Fortunately job and income growth remain strong and the stock market shows renewed strength.”

Click here to read the full news release.

Jackie

Posted 01:29 PM | Permalink | Comments (0)

Foreclosure rates are likely to remain high for the next few years and this segment of real estate investing offers some great opportunities for investors.

One of the best ways to invest in foreclosures is during the preforeclosure stage, which is when the homeowner has defaulted but the actual foreclosure hasn’t taken place yet. You can actually stop the foreclosure, help the homeowner out of a difficult situation, and make money at the same time.

To learn more about this, read Jordan Taylor’s article, Profit from Foreclosures by Preventing Them.

Jackie

Posted 11:59 AM | Permalink | Comments (0)

Pretexting is one of the latest ways identity thieves steal your information. The technique is so named because the scammers use a pretext to get data—either they pretend to be you and try to get your information from someone else or they pretend to be someone you do business with and try to trick you into divulging information they can use to steal from you.

Federal officials don’t know how widespread the use of this technique is, but they know it’s happening and they know that pretexters are very resourceful.

Never give out information over the phone, through the mail, or over the internet unless you’ve initiated the contact or know whom you’re dealing with. It’s a sad fact, but when it comes to your personal information, you need to be suspicious of everybody these days.

Jackie

Posted 07:57 PM | Permalink | Comments (1)

“Considered the blueprint for the entire transaction, the real estate contract details everything from purchase price and occupancy dates, to whether or not the curtains are staying and who has to fix the leaky roof.”

So writes Charles J. Kovaleski, president of Attorney’s Title Insurance Fund.

His article is targeted to first-time homebuyers rather than investors, but it contains some basic information that’s worth reading if you’re a new investor. Click here to read it.

Jackie

Posted 07:58 PM | Permalink | Comments (0)