Bank Homes for Sale

http://www.squidoo.com/shortsaleaid

How To Do a Short Sale
Why Would a Lender Accept a Short Sale?

A short sale in real estate is not always a pleasant transaction.

There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a “short sale.”

More than half of my sales in Sacramento over the past few years are short sales. That’s how prominent short sales have become.

When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.

If you are considering buying a short sale, there could be drawbacks. For your protection, I suggest that all borrowers:

* Obtain legal advice from a competent real estate lawyer
* Call an accountant to discuss short sale tax ramifications

As a real estate agent, I am not licensed as a lawyer nor a CPA and cannot advise on those consequences. Except for certain conditions pursuant to the Mortgage Forgiveness Debt Relief Act of 2007, be aware the I.R.S. could consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgment or claim.

By Elizabeth Weintraub, About.com

Duration : 0:7:44

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House passed a bill that taxes AIG and other bailout company employee bonuses
•impose a 35 percent excise tax on the companies paying the bonuses and a 35 percent tax on the employees receiving them.
•”We want our money back now for the taxpayers,” said House Speaker Nancy Pelosi. “It isn’t that complicated.”
•*Basically, Washington is throwing AIG employees under the bus by placing all of the blame on them.
http://finance.yahoo.com/news/House-passes-bill-taxing-AIG-apf-14693850.html

Oil prices reach new high for 2009 as dollar falls
•A result of the Fed sinking dollar and OPEC cutting supply
http://finance.yahoo.com/news/Oil-hits-high-for-2009-as-apf-14689612.html

Fed to pump another $1 trillion into U.S. economy
•The Federal Reserve inserted an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.
•*Im not financial expert, but it sounds these guys are just printing dollars
•*where did we get one trillion dollars from?
http://www.iht.com/articles/2009/03/18/business/fed.php

Dollar Heads for Record Weekly Loss Versus Euro as Supply Rises
•The dollar headed for a record weekly drop against the euro after the Federal Reserve ramped up supply of the currency by unexpectedly saying it will start buying Treasuries.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPBKcHlztObA&refer=home

Lam Research to cut 375 more jobs
http://www.reuters.com/article/rbssTechMediaTelecomNews/idUSN1946410420090320

Pa. lost 41,000 jobs in February, most since 1996
http://www.forbes.com/feeds/ap/2009/03/19/ap6191001.html

California’s median home price down 40%
•The state median fell to $224,000 in February, compared with $373,000 a year earlier, tracking firm MDA DataQuick says.
http://www.latimes.com/business/la-fi-sfhomes20-2009mar20,1,2320173.story

Foreclosure in WA
Harrison and four competitors have qualified to bid on a 3,300-square-foot McMansion on an acre lot in the south county town of Auburn. The house last sold for $470,450 more than four years ago, the county assesses it at $577,000, and well over $600,000 is owed against it on a pair of loans.
But the foreclosing lender, trying to recoup what it can in an area of plummeting real estate prices, has set the opening bid at just $267,000.
http://www.msnbc.msn.com/id/29744491/

Gov. Strickland says Ohio shouldn’t gamble on casinos to solve its economic woes
•Flint considered this too
http://seattletimes.nwsource.com/html/businesstechnology/2008886619_apgamblingproposalgovernor.html

Obama unveils $2.4-billion grant program to aid electric cars
•Obama visited an electric-vehicle testing center and announces a program for companies to compete for grant money.
•He pledges to put a million plug-in hybrid vehicles on the road by 2015.
http://www.latimes.com/news/nationworld/nation/la-na-obama-pomona20-2009mar20,0,4688845.story

Homeless people living under the state Capitol in Madison, WI
http://www.jsonline.com/news/statepolitics/41472052.html

Citys Public Hospital System to Cut Jobs and Programs
•New York Citys public hospital system is cutting 400 jobs and closing some childrens mental-health programs, pharmacies and community clinics
•*I think were going to see a lot of hospitals that serve the poor shut down and its going to have devastating consequences.
http://www.nytimes.com/2009/03/20/nyregion/20hhc.html?ref=nyregion

Incest Killer Josef Fritzl Gets Life Sentence
•Incest killer Josef Fritzl has been given a life sentence at a psychiatric hospital for locking his daughter in a cellar for decades and letting their baby son die.
•*why am I mentioning this? Stories like this remember me that when people have the freedom to do anything, they often will do anything.
•*I dont think that economy is going to get better this year or the next. In fact, I think that things are going to get worse. And whether you like it or not, the next three years will our true colors.

http://news.sky.com/skynews/Home/World-News/Josef-Fritzl-Guilty-Cellar-Incest-Abuse-Trial-In-Austria/Article/200903315244994?lpos=World_News_Carousel_Region_0&lid=ARTICLE_15244994_Josef_Fritzl_Guilty%3A_Cellar_Incest_Abuse_Trial_In_Austria

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We do prefer FREEDOM, give us freedom, or give us death. I am not afraid of their threats.

There has to be a different solution; this can’t be the only way. Is there not some kind of free market solution? I mean, I know that they have screwed up the free market with Fannie Mae and Freddie Mac, but won’t this bailout just screw it up more.

The Republicans need to come up with their own plan, and tell the Democrats to take it or leave it, and if they leave it, then they can pass their own Democrat Bailout Bill and be responsible for the economic outcome.

Although we do need to put this into perspective; what are we giving up and what are we to receive in return? I’m sure we all know the famous words of Patrick Henry:

“Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!”

Now we are faced with a choice of:

“Is not having an economic down turn so dear, or having all of our toys so sweet, as to be purchased at the price of chains and slavery?”

I have a feeling that if we let this happen, we’ll end up with chains and slavery, along with a bad economy, but I could be wrong.
jbranstetter04

“…We are seeing a leveraged bailout of the United States Treasury. And in the end these interests that want your money are threatening your prosperity. And the choice you face is this. You will lose potentially, your prosperity for a short period of time, at the expense of your long-term liberty. Once the federal government has got you to take that risk and pass it on to you as a quote-unquote moral hazard, they will be in the marketplace and as the free market is diminished your freedom itself is diminished. And as your Congress does not stand up to these and put forward a better plan that truly protects the taxpayers and truly has the long-term interests of the United States at heart, you will be in jeopardy of losing both your prosperity and your liberty. The choice is stark and it was put forward in the book by Doestoevsky. In the Brothers Karamazov the Grand Inquisitor came to Jesus and he said ‘if you wish to subject the people, give them miracle, mystery and authority; but above all give them bread’. And it has always been the temptation in a crisis especially to sacrifice liberty for short-term promises of prosperity. And it was no mistake during that during the 1917 Bolshevik revolution the slogan was “Peace, land, and bread.” Today you are being asked to choose between bread and freedom. I suggest that the people on Main Street have said they prefer their freedom, and I am with them. I yield back.”
- The Honorable Thaddeus McCotter - Congressman from Detroit

House to meet Thursday after rejecting bailout
GOP, Democrats argue effect of Pelosi speech on $700 billion plans failure

WASHINGTON - In a stunning vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation’s financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it. The Dow Jones industrials plunged 778 points, the most ever for a single day.

Democratic and Republican leaders alike pledged to try again, though the Democrats said GOP lawmakers needed to provide more votes. Bush huddled with his economic advisers about a next step. The House was to reconvene on Thursday instead of adjourning for the year as planned.

The stock plunge began even before the 228-205 vote to reject the bill was officially announced on the House floor. The decline for the day surpassed the 721-point previous record, on the day after the Sept. 11, 2001, terror attacks, though in percentage terms it was well short of the drops on Black Monday of October 1987 and at the start of the Depression.

“We could have gotten there today had it not been for the partisan speech that the speaker gave on the floor of the House,” Minority Leader John Boehner said. Pelosi’s words, the Ohio Republican said, “poisoned our conference, caused a number of members that we thought we could get, to go south.”

Duration : 0:2:42

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Loan Modification Attorneys Negotiate Home Mortgage Bailout - Foreclosure Assistance Plan - Real Estate Foreclosure Prevention Alternative To Fraud and Scams. http://ModificationHotline.com Will Help You Survive The Mortgage Meltdown Crisis by Modifying Your Home Loan. Avoid Foreclosure and Bankruptcy. Get Your Bailout Today.

At http://ModificationHotline.com You Can Claim Your FREE Copy of My Latest Report:
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Go To http://ModificationHotline.com and Complete Our Easy Form - It Takes 2 Minutes and Can Help You Save Your Home.

Duration : 0:9:42

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Who’s behind the meltdown? Not McCain.

This video was not made by me. All credit goes to TheMouthPiece. Replaced soundtrack with piano because original pulled down for WB song, it has Dodd saying that the root cause was just bad mortgages. Enjoy and spread the word.

The Affirmative Action Economic Meltdown
Hus on First Asian Week September 26, 2008

I thought Id never live to see my bank go bust. Wamu? Boo Hoo! Back in 1999, Fannie Mae first introduced rules for sub-prime loans to increase minority homeownership and boost profits. The government subsidized corporation was founded as part of the New Deal in 1938 before it was spun off in the 1960s. Once a monopoly, it still has about half the market of reselling mortgages backed with guarantees of payment. At the time, economists warned that relaxed lending rules might lead to a giant failure that would have to be bailed out by the government if the real estate market cooled like it did in the 1980s. [1]

As we all know, that just happened as Uncle Sam took Fannie Mae back. Talk about obscene executive pay, over $100 million was spent on the paychecks of just three Democrats. James Johnson, who was briefly on Obamas VP committee, earned $21 million in just one year of being CEO for 7 years. Obamas housing policy advisor Franklin Raines earned $90 million in his five years as CEO, and Jamie Gorelick earned $26 million as vice chairman, even as Raines and other top executives were caught using accounting tricks to trigger massive bonuses and understate their pay.

It was left wing meddling inspired by affirmative action that led to politically correct credit decisions. As Ann Coulter put it, They gave your mortgage to a less qualified minority. The Clinton administration investigated Fannie Mae for discrimination. Ending redlining of minority neighborhoods became the new crusade, even if factors such as credit histories, job stability, loan-to-value ratios and income levels were completely different between communities. It was urged that half of Fannie Mae and Freddie Macs portfolio be made up of low / moderate income borrowers by 2001.

Discriminatory criteria such as credit history and down payment ability would become less important, as welfare and unemployment payments would be counted, and stated income allowed borrowers to make up their own income, whether it was backed up by a cash business or nothing but thin air. People were rewarded for signing up loans, not for making sure they would be repaid when they were resold. When G.W. Bush entered office, his economist warned that loans to under-qualified borrowers created a risk for the entire financial system. In 2003, Treasury Secretary John Snow proposed oversight with strict controls over risk and capital reserves.

When Senator John McCain joined the fight for reform of corruption, the effort was stopped by Democrats such as Barney Frank who stated there was no financial crisis at Fannie Mae / Freddie Mac, and such pressure would reduce affordable housing. As McCain observed that Obama collected the 2nd highest amount of Fannie and Freddie contributions in his short career, Senator Obama may be taking their advice and he may be taking their money but I want to tell you in a McCain/Palin administration, there will be no seat for these people at the policy making table.

Whatever the proper role government has in cleaning up this mess, one thing must be clear. A diverse nation cannot commit to spend whatever it takes to put everybody in a solar house and hybrid car, all-you-can-eat medical coverage, college, preschool, and high test scores for all. Yet this is precisely what Obama promised to do at the debate. Only John McCain committed to fight to control spending which threatens the entire American economy with imploding so badly that no one will be able to will bail out Uncle Sam.

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http://www.prestonely.com How would you like to steal houses straight from banks like us? You’re gonna have the chance sooner than you might think. Keep your eyes peeled. The REO Rockstar is coming soon …

Duration : 0:2:24

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Huh, wTF?

Economic collapse crisis depression 2009 bull bear market shares tank tanking have been tanked gold silver bonds treasury notes (End of the World is coming December 21, 2021 prophecy. The Maya’s “Long Count” calendar marks the end of every 5126-year era. A previous cycle ended 13,363 years ago–during the age of Leo, at the same time when the Earth was struck by comets and asteroids. The next cycle ends on 2012. Does this mean the world end on 2012? No. It means the calendar ends. Yet, there is also a warning, so let those with eyes, see.) (Planet X Inbound 2012 Mayan Calendar). (alien) (ufo) (solar system) (video biblical prophecy) (Sumerian) (Egyptian) (ancient) (atlantis) (sinking continent) (earth changes) (climate) (sun solar flare) American Militia, American Resistance Movement, American Revolution, Revolution, Revolt, American Militia Movement, A.R.M, Alex Jones, New World Order, Illuminati, NWO, Skull and Bones, Bush, 911 Conspiracy, The Civilians Military, Militia, American Resistance Movement, Revolt, Bilderberg, CFR, Alex Jones, Jordan Maxwell, Loose Change, End Game, Terrorstorm, Patriot Act, HR 1955, 911 was an inside job, truth, iraq war, black water, free masons, Ron Paul, New World Order carbon tax CO2 Global Warming is a fearmongering scam. The sun is getting hotter. Alex Jones is just one source. Police State is just making some X-military clones. MK Ultra mind control. Income. John F. Kennedy or JFK CIA FBI international bankers Rothschild David Rockefeller. Chemtrails chemical trails from jets. Air Force United States Army Navy Marines National Guard. NORAD stood down. Fake war in Iraq and Afghanistan but the human deaths are real. Corporations own a market for every physical item on this Earth. Immortal Technique is trying to push the revolution into the streets. I don’t know if I can agree with that. People go to work all day Jedi Mind Tricks are alright. Vinnie Paz in shit. Paris is OK. Sick Since and Ill Bill all good. 911 or September 11, 2001 was the greatest world scam to take place in a very long time, no matter what your take on the conspiracy theorist or theories America American Turn off the TV and the news. Project Paper Clip Operation Northwoods George W H Bush Bill Skull and Bones Bohemia Grove secrete societies Freemasons mason Masonic Temple Mormon. Government in schools. Mercury Vaccines. Nazi Hitler Every one is in a rush. Drugs marijuana blunt alcohol tobacco National ID Cards in May 2008. Elections are rigged. Real ID Act congress president. Obama and Mccain are clones. Republicans and Democrats are the same. Council on Foreign Relations. Club of Rome. Trilateral Commission. Federal Reserve illusion money dollar fall. Graph and carts. Round Table. Cocaine Mushrooms Crack Heroin Meth. 666 Mark of the Beast Christian Catholic Muslim Jewish Jew inside job protest fight Last Days Jesus Christ God. The second coming. North American Union. South American Union. APEC. European Union. All Seeing Eye. Devil Lucifer. Traffic cams cameras intersection cops The Financial Crisis Explained clowns jesters. CFR is weak. NAU One World Government

Duration : 0:9:26

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Obaid Karki An Outcast Underdog Libertarian Diogenesist Kabbalist Spinoziste Qutbist Pantheon Hexalingual Automath Former UAE Under Secretary Independent Street-Knowledge Urban Talking-head. Unaffiliated to a State

Duration : 0:3:15

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Economists, politicians, and pundits refer to “toxic assets” as if they are some unspeakable stew bubbling in a barrel behind an old warehouse. But ”

Duration : 0:5:10

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Technorati Tags: bailout, Economic crisis, Flagstar Bank, foreclosure, foreclosure crisis, James Scruggs, Prince William County, Sandra Berrios, tarp, Toxic Assets

In this brief video, investor advocate Dr. Martin Weiss speaks to the National Press Club in Washington DC. Find out how banking bailouts, buyouts and nationalization can only prolong America’s second Great Depression and weaken any subsequent recovery.

Duration : 8 min 57 sec

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