My email inbox has been inundated the past few days with reports of a landmark bill, HR 1728, that is supposedly the end of creative real estate as we know it.   Many of my students are looking for my take on this…
First off, I strongly encourage everyone to exercise their rights as American citizens to voice [...]

 
As reported by the Washington Post on May 15, 2009, under new guidelines issued for the Obama administration’s $75 billion housing plan, the government may begin issuing incentives to banks to approve short sales.
 
Hallelujah!
 
The proposed solution would include giving 1st mortgages a $1000 bonus for approving a short sale as well as sharing in the [...]

Michele Evans, a full time mom of 3 small children with no previous business or real estate experience started with our Short Sales Program the first week in February and a little over 3 months later, on May 11, 2009, she profited $88,934.55. So I ask you, what’s your excuse?
- Not enough time? Michele has [...]

Is there a second wave of mortgage defaults on the horizon?  According to the following “60 Minutes” report, not only is the answer YES, but it may be as big as the first one.
http://www.cbsnews.com/video/watch/?id=4668112n
The first wave of mortgage defaults was the sub prime meltdown.  Those were the loans given to borrowers with low credit scores [...]

 

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Obama’s new economic stimulus plan is in full affect and many short sale investors are wondering how this will change their business.   This ”American Recovery and Reinvestment Act of 2009″ was designed to stabilize the housing market and restore consumer confidence in homeownership.  That’s why they increased the tax credit for first-time homebuyers to $8,000 and [...]

We’re in 2009 and the short sale closings are happening at a record pace. Our student Brian Busch just made $27,903 on his first short sale on January 16, 2008. He didn’t use any cash, he didn’t borrow any money. He just followed what we taught him and voila, he made a really big check. [...]

Welcome to 2009 everyone. Our current economic climate is absolutely perfect for short sales. Interest rates are at an all time low, foreclosures are at an all time high and the number of people who owe lenders more than their homes are worth is now breaking 20% of borrowers. That’s an estimated 10 Million borrowers [...]

Here you will find posts from me, Phil Pustejovsky, America’s # 1 undisputed short sale expert. Check back in the coming weeks for more postings.