03:30 Planning Commission Discussion: Electronic Copy Signs – presenter, Frank Duke, Director of Planning 23:09 Multi -Family Housing – presenter, Frank Duke, Director of Planning 01:46:55 Council Concerns and issues 01:56:28 Light Rail opening day activities – presenter, Breck Daughtrey, City Clerk 02:12:17 New Voting District – presenter, Bernard Pishko, Norfolk City AttorneySee the most current formal agenda online here: www.norfolk.gov See previous formal meeting minutes here: www.norfolk.gov See previous informal / work session minutes here: www.norfolk.gov City Council and Clerk’s office contact phone # list is here (where residents can comment): www.norfolk.gov
America is facing a foreclosure tsunami — a quarter of all homeowners in America are delinquent on their mortgages. By the end of this year, foreclosure notices will have been sent to more than three million homes — and a second wave is predicted. The country’s largest mortgage servicers — banks who service home loans — have been battered in the headlines and on Capitol Hill for allegations of ‘robo-signing’ and using fraudulent documents to foreclose. But that could be the tip of the iceberg. A little-reported and little-understood aspect to the foreclosure crisis, claim consumer advocates, is that foreclosure is in fact very profitable for the banks. The banks dispute this, but we’ve been talking to homeowners across the country who say their servicers pushed them into foreclosure instead of modifying their loans. And the government-led effort to stop foreclosures could be making the problem worse. Also, economist Gary Shilling on when he expects the US economy to rebound.
RealEstateMarketingThisWeek.com – Part 2 – Were just going to go ahead if we could and just jump right into the short sale information. Jeri, again thank you so much for taking the time to be with us. What is the name of your firm? Our group is Dream Vesting Group and our brokerage is Keller Williams Arizona Realty. So that is great, licensed agents with Keller Williams and I know the two of you and I know of your history and we will talk a little bit more about that, but you have been working together for awhile. You and I had a chance to speak about the short sales and your success rate, very, very impressive proven results always helps. So the natural first question for those that are listening today. What is a short sale exactly? A short sale is a property sale where the bank or lender agrees to accept less than what is owed to them. So the bank is agreeing to take a loss on the sale of your property, and I like what you said earlier about not trusting a loan modification or a short sale to just anybody, you definitely dont want to be the guinea pig and you dont want to approach the bank yourself and ask them to please take a loss because you need to sell your home. And that is one of the things that is funny nowadays. I know people have seen them pop up all over the town, the ugly yellow bill boards all over the place. Advertising on the radio about loan modifications and they have 100% success rate, all kinds of these different things. The same thing with short …
realestatemarketingthisweek.com – Prices are back to 2003 levels: A Short Sale is significantly cheaper for a bank than a foreclosure Part 7 – Were in the studio today with Kalyn Roberts and Jeri League of the Dreamvesting Group, these two young ladies are experts in the short sale area, they are NOT going to tell you what you want to hear, they are going to tell you what you need to hear. There is a big difference between what you want and what you need in the case of getting out of a situation. We talked during the break about the different types of people; who qualifies, who doesn’t qualify, who this is good for, and who its not good for. I want you to talk about people who are upside down and how you’re here to help. What we want to get across today if you just need to call someone if you’re upside down in your mortgage, if you have a listing next door and its a bank owned or short sale, there is a good chance you’re probably upside down in you mortgage if you bought anytime in the last, in the last 5 years were almost back to 2003 pricing now. Just to jump in real quick, Jeri and Kalyn its not just the people who purchased, its the people who used their homes as ATMs which is a crude way for me to say it but lets be honest. You watch the television, and I am not going to name any names, but a company that rhymes with lie-tech though, they have a commercial where they are showing pictures of using your home to buy a big boat and everybody got sucked into that and now …
President Obama discusses revamping government college loan programs. For more news video by Current TV visit current.com VIEW more Obama videos & SUBSCRIBE to the YouTube playlist here… www.youtube.com
First Time Home Buyer Tax Credit Assistance and Federal Government Home Loan Program with Low Down Payment on FHA Mortgages. Buy Bank Foreclosed Homes at a Discount. Go To RealEstateMarketingThisWeek.com Part 2 (Excerpt) The median income family can afford twice the median priced home; prices drop over 50% And now I mentioned Dan Havey is back in the studio with us, Dan has done a lot of great things in the mortgage industry. He left us about a year and a half ago, is that right Dan? Yes, I left the mortgage industry in October of 2007. Tell us a little bit more about yourself. As you know I came originally from Wisconsin, where I got a degree in Business Finance and I came out here in 1989 and started working with my brother selling real estate owned-REO, bank owned properties for Fannie Mae, Countrywide, and the Resolution Trust Corporation-RTC which was the government entity that was put in charge of disposing of all the real estate owned by the 1800 S&Ls that had failed. I did that until about 1995 when I moved into the mortgage industry and there for 12 years I worked predominately with bankruptcy attorneys helping their clients get out of bankruptcy and foreclosure. I left the mortgage industry in October of 2007. Now I am working predominately in the arena of marketing for real estate and mortgage companies, helping out companies, just like Im here helping out Michael today, to get people to realize that right now actually is a really good time to buy. There are a …
00 Tax Credit for First Time Home Buyers with Low Down Payment. Lender Finance Program with Low Payment and Fixed Interest Rate on FHA Mortgage and Government Assistance. Go To realestatemarketingthisweek.com Part 8 (Excerpt) Analyzing tax returns for self employed and small business owners; Use a Mortgage Planning Expert Credit scores now are a major factor with interest rates. You see the liars up on the internet with interest rates being at 4.625% and all this kind of hocus pocus, its not true. You are never going to qualify for that rate today. They are going to lie to you, once you sign and see the fine print you are going to realize that it is a ridiculous idea to pay that amount of money in fees. Credit scores have to be significantly higher than they used to, but again I have to tell you, its my opinions that a 70% no doc loan with someone who has a 720 or higher credit score I believe is a good loan. I personally believe that at some point it will be brought back. I am not arguing with that, with a good FICO score I can agree with a 20% down for a stated income loan. People are encouraged through our tax system to write off all of their expenses and so often we have small business people who really are making money but because they take advantage of our tax system they are not able to get a loan. They cant qualify based upon their income. In a lot of cases yes, but once again I definitely want to point his out just because someone is self employed and owns a …
Nova Dean Pack is an attorney licensed with the California State Bar since 1974. The Law offices of Nova dean Pack have taken a stand of advocacy for homeowners who have been affected by the current financial crisis. Homeowners who are experiencing hardships due to a loss of job or cut in income or who’s mortgage(s) has recently adjusted may qualify for one of the various programs available to homeowners. Hope For Home Owners (H4H) On October 1, 2008 the US Department of Housing and Urban Development (HUD) instituted the Hope for Homeowners Program. This program was designed to help those homeowners who have or are experiencing any of the following situations: Their mortgage exceeds the value of their home. They are on an adjustable rate mortgage. They have a high fixed interest rate. They are behind, or in foreclosure. May have income/job issues. The program effectively reduces the current mortgage (including second mortgages, late payments, attorney fees, and etc) to 90% of the homes CURRENT market value based on a FHA approved appraisal. This can save tens of thousands in mortgage balance, and hundreds to thousands in mortgage payments. Credit score does not matter, and even homes in the foreclosure process qualify. These are the lowest 30 year FIXED rate mortgages with NO prepayment penalties and these new loans are also FHA insured. If you cannot afford your current loan, do not own a second home, and your mortgage was originated before 2008; you can qualify for help …
Opening Statement of Gene Dodaro, Acting Comptroller General, at hearing before the House Committee on Oversight and Government Reform on March 25, 2010, on mortgage foreclosure prevention challenges. Testimony title: Troubled Asset Relief Program: Home Affordable Modification Program Continues to Face Implementation Challenges Get the full testimony: www.gao.gov Learn more: www.gao.gov Disclaimer: The US GAO does not promote or endorse any non-Government or commercial content appearing on this page.