04.04.09
Posted in Beaumont TX apartment review at 8:39 pm by Administrator
I’m an engineering professional on assignment in the Beaumont area
and its been tough finding a really nice affordable apartment….
until now.
I just started living at the brand new Sienna Apartment Homes in
northern Beaumont, TX and its been a great experience.
A gorgeous, gated community with a pool, clubhouse, fitness center,
Internet wireless capability and business center.
PLUS it is so close to absolutely EVERYTHING you need..
down the road from a huge Mall, restaurants, services..
close enough to whatever you need but still gives you
a remote sense of being away from it all.
Worth checking out!
If you’re going to be on assignment in the Southeast Texas area
whether it be in Beaumont or at the refineries in Port Arthur this
is the place you need to check out.
I’ve been in the area since December, when the Motiva project was in
full swing and other refinery projects were extremely busy along
with FEMA personnel and evacuees occupying most hotel rooms and
apartments. I wish Sienna was available then!
Things have quieted down but will be gearing up in the
next few months so if you need a great apartment to rent in
Beaumont check out Sienna Apts- 409-892-1135
and tell them Mike Kessler sent you!
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12.03.08
Posted in Recession Proof, Second Income at 8:12 pm by Administrator
Is it Doom and Gloom for the world due to the Economic chaos hitting the Financial Markets?
Depending on how YOU look at it maybe not for you…. Read on..
Many people often associate economic downturn with lack or absence of opportunities. “It’s simply impossible to make money much less to prosper during an economic recession or depression.”
This is absolutely not true.
Because the truth is, economic recessions or it’s uglier cousin, economic depressions, are just the perfect opportunities that anyone with vision can take advantage of to become not just rich – but filthy rich!
For the record no less than America’s second richest person alive, Warren Buffet whose personal fortune reached a dizzying $48 billion before he decided to give back to the society $31 billion can attest to this.
Warren Buffet built his massive fortune buying businesses and properties that most people had given up as lost. To many businessmen, he is the great rescuer who bailed them out of their economic miseries.
But of course Warren Buffet saw more than rescuing them out of their economic woes. If he sees no value or potential in their businesses, he sees no reason to buy them.
But what exactly does he know that ordinary mortals don’t usually know about economic downturns?
First and foremost, economic downturns don’t last. During bad times, Prophets of Doom would say the worst things about the economy.
Of course things are bad. But they only remain bad to a certain point. This is because of the thing called Economic Cycle.
Economic Cycles are periods in history of booms and busts. Economic cycles are the hallmarks of laissez faire system. Economic cycles behave just like the seasons.
And just like the seasons, the climate always changes. And just like the seasons you can predict a downturn or an upturn…
Highlights:
How to Successfully Navigate Your Business through an Economic Downturn
Understanding the Mortgage Meltdown; What happened and Who’s to Blame
Superior Leader - Warren Buffet
Invest In Yourself – Your Career, Future Income Stream, Education And Training
Economic Recession Strategy - How To Keep Your Business Alive During Economic Recession
How to Recession Proof Your Job: Ten Job Secrets for Career Success!
Recession Proof Your Business - Get Bigger Profits
3 Foolproof Ways To Soar Through A Recession
World Recession now Inevitable - Assume the Crash Position!
Recessions Don’t Last Forever!
Investing in a slow market? It’s all a case of demand and supply!
Why Buffett’s Investment Strategy Won’t Work For Buffett Anymore – But For You It Will Still Work!
Find Out More Specific Ways to Prosper in the book Pangea Recommends:
The Bad Times Buster Package - How To Prosper in Bad Times
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10.04.08
Posted in Foreclosures, Latest News at 10:22 pm by Administrator
In early 2006 when investors bought houses to flip them and realized the boom was over then came the first wave.
A year later when homeowners used adjustable rate mortgages to buy in 2005 and in 2006 began to see their monthly payments rise then came the second wave.
Now as home prices are falling combined with rising unemployment a new third wave of foreclosures have begun.
House prices in 20 U.S. cities declined in July at the fastest pace on record, according to an S&P/Case-Shiller report issued on Sept. 30.
The S&P/Case-Shiller home-price index dropped 16.3 percent from a year earlier, more than forecast, after a 15.9 percent decline in June. The gauge has fallen every month since January 2007, and year-over-year records began in 2001.
Will this new congressional bailout bill help alleviate foreclosures as intended??
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09.20.08
Posted in Foreclosures at 10:11 pm by Administrator
Foreclosure is to shut out, to bar, to extinguish a mortgagor’s right of redeeming a mortgaged estate. It is a termination of all rights of the homeowner covered by a mortgage. Foreclosure is a process in which the estate becomes the absolute property of the lending institution.
Foreclosure numbers are growing daily. Of the one hundred twenty or so million homes in America, more than 4% or roughly 4.8 million of them are facing foreclosure. Some of these homeowners are able to work their way out of foreclosure, however, according to MBA there were about 500,000 homes that went through foreclosure last year. Foreclosure threatens these homeowners because they are late or seriously behind on their mortgage payments.
The Foreclosure process begins when the homeowner fails to make payments of the money due on the mortgage at the appointed time. This may be due to several reasons. Unemployment, divorce, medical challenges, terms of the loan, sick of property management, and even death.
Foreclosure is applied to any method of enforcing payment of the debt secured by a mortgage, by taking and selling the estate. Borrowers and lenders now face a challenging situation. Both seek a compromise that permits a win-win outcome. The borrower to keep his home or business, the lender to keep receiving mortgage payments.
Foreclosure proceedings typically start with a formal demand for payment which is usually a letter issued from the lender. This letter of notice is referred to as a Notice of Default (NOD). Depending on your state, the lender will issue this notice when the homeowner has been 3 months delinquent on the mortgage payments. Keep in mind that the notice is a threat to sell your property, terminate all your rights in that property and evict you from the premises.
Don’t let this happen to you.
Find out more about preventing your home from being taken away
because of this ! Check out our Foreclosure Survival Handbook here:
Foreclosure Survival Handbook
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Posted in Latest News at 9:56 pm by Administrator
After the smoke has settled on a quite turbulent week on Wall Street
all because of mortgage backed securities and the debacle ensued thereafter
what kind of news on the foreclosure front is there?
Now the government has bailed out mortgage giants Democrats in Congress
are drafting a bill that could help out homeowners in a similar fix.
Congress wants the government to use its new leverage to slow foreclosures and cap compensation for the Wall Street chiefs whose companies are being bailed out.
Read the full story here:
Politico: Dems plan to prevent foreclosures….
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09.12.08
Posted in Latest News at 12:18 pm by Administrator
Here is the latest and greatest info out today
from AP Newswire regarding nationwide foreclosures…..
Foreclosure filings in August increased 27 percent compared to the same month a year ago, a significantly slower pace than in previous months, according to data released Thursday.
Nationwide, 303,800 homes received at least one foreclosure-related notice in August, up 12 percent from July, RealtyTrac Inc. said. That means one in every 416 U.S. households received a foreclosure filing last month.
August’s increase, however, was smaller than the two prior months. June and July both had year-over year increases in foreclosure filings of 50 percent or more. Still, the total number of foreclosure filings is still the highest since RealtyTrac began issuing its report in January 2005.
Irvine, Calif.-based RealtyTrac monitors default notices, auction sale notices and bank repossessions. More than 90,893 properties were repossessed by lenders nationwide last month — up more than half from 43,141 in August 2007, the company said.
The top three states in foreclosure rates were Nevada, California and Arizona, in that order, RealtyTrac said. Florida, Michigan, Georgia, Ohio, Colorado, Illinois and Indiana rounded out the top 10, though Michigan, Georgia, Ohio and Colorado all reported rate decreases year-over-year.
Weak sales, sinking home values, tighter home loan lending practices and a slowing U.S. economy hamstrung by high fuel prices has left some homeowners with few options to avoid foreclosure. Many can’t find buyers or owe more than their home is worth and can’t refinance into an affordable loan.
Banks and mortgage investors are also holding a glut of foreclosed properties and are slashing prices to get them off the books.
On Thursday, four Democratic senators urged the mortgage companies Fannie Mae and Freddie Mac to freeze foreclosures for 90 days on loans they hold. The troubled companies, seized by the government Sunday, should help struggling borrowers swap their mortgages for more affordable loans and stay in their homes, the lawmakers said.
An estimated 2.8 million U.S. households will face foreclosure, turn over their homes to their lender or sell the properties for less than their mortgage’s value by the end of next year, predicts Moody’s Economy.com.
James J. Saccacio, chief executive officer of RealtyTrac, said the lower percentage increase last month is due to a big spike in activity in August 2007. Last month, default activity was up 10 percent from a year ago and auction activity up 7 percent year-over-year, Saccacio said.
“The increases in default and auction activity could be slowing down partly as the result of new legislation passed in several states that is designed to give homeowners in distress more time before foreclosure proceedings are initiated,” Saccacio said.
The next six months will be critical in terms of the housing crisis, noted Albert Saiz, assistant real estate professor at Wharton School of Business. Consumers and investors will be tracking volatile financial markets, judging the success or failure of this year’s housing bill, monitoring the government bailout of Freddie and Fannie, and anticipating the impact of a new president, he said.
On the bright side, if home prices and sales stabilize or improve, the foreclosure situation could get better.
But the slow economy, high unemployment and volatile financial markets present obstacles to improvement in the foreclosure situation, Saiz said.
Together, California, Florida and Arizona accounted for more than half of the nation’s volume of foreclosure activity.
Last month, California’s foreclosure activity increased more than 40 percent from July and more than 75 percent from August 2007.
The California cities of Stockton, Merced and Modesto were 1-2-3 in top metro foreclosure rates. July’s leader, the Cape Coral-Fort Myers, Fla., metro area, dropped to sixth. Las Vegas came in seventh.”"
Remember, to find out more on Preventing Foreclosure get our Foreclosure Survival Handbook
and once you do we’ll keep you updated with the latest info, best links and articles
to keep you in the know!!
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09.10.08
Posted in Latest News at 6:40 pm by Administrator
Here is the latest foreclosure news from ForeclosureS.com:
Nearly 102,000 homeowners lost their properties to foreclosure in August, up nearly 6 percent from July and more than 80 percent higher than in August 2007, according to data released today by ForeclosureS.com, a national leader in foreclosure information.
So far this year, lenders have repossessed a record 656,545 properties nationwide - or 8.6
of every 1,000 households in the United States - and remain on track to repossess more than 1 million nationwide by year-end, ForeclosureS.com reported.
Year-to-date 1.45 million homeowners (19.6 of every 1,000 households) faced pre-foreclosure actions by lenders, almost double the number a year ago. ForeclosureS.com’s comprehensive analysis of pre-foreclosure and foreclosure proceedings nationwide is based on the number of formal notices filed against a property during the foreclosure process. That can include notice of default, notice of foreclosure auction, and/or notice of REO (lender-owned real estate that occurs after a foreclosed property fails to sell at auction and reverts back to the lender). All pre-foreclosure filings do not end up in foreclosure.
There is some good news: pre-foreclosures actions by lenders slowed slightly from July and more than half of the pre-foreclosure as well as REO activities can be attributed to three states: Arizona, California and Florida, said Alexis McGee, president of ForeclosureS.com and author of The ForeclosureS.com Guide to Advanced Investing Techniques You Won’t Learn Anywhere Else (Wiley), and The ForeclosureS.com Guide to Investing in Pre-foreclosures Without Selling Your Soul (Wiley).
Even the Mortgage Bankers Association, which last week announced more record mortgage delinquency and foreclosure rates, singled out California and Florida as culprits driving up the national numbers. The MBA in its National Delinquency Survey reported 6.41% of all mortgage loans were delinquent in the second quarter, not including those in the foreclosure process. A total of 2.75% of loans were somewhere in the foreclosure process.
“While we continue to see record numbers of foreclosures and actions that may lead to foreclosure, and despite the higher 6.1% August unemployment rate, it does appear that the overall situation is beginning to stabilize,” McGee said. “Importantly, many regions of the country - particularly the Northeast and Midwest - have seen less-dramatic increase in foreclosures and pre-foreclosure activity in 2008 compared with 2007.”
The Southwest region, in contrast, reported by far the most foreclosed property filings year-to-date, 348,019 or 12.7 filings per 1,000 households. The Southeast, meanwhile, leads the nation in pre-foreclosure actions filed year to date with 477,177, or 27.5 filings per 1,000 households.
“For investors and first-time homebuyers, the reality is that there are a lot of opportunities,” says McGee. “People who watch the economic numbers and savvy investors and first-time homebuyers finally have begun to recognize that.”
McGee pointed to recent economic reports, including:
– The National Association of Realtors, for example, reported existing-home sales climbed 3.1% in July to their highest level in five months.
– The just-released U.S. gross domestic product (GDP) climbed 3.3% in the second quarter.
– Despite the widespread discussion of problems in the financial markets, only 10 of the nation’s 8,451 FDIC-insured institutions have failed during what some have called this “worst crisis” in financial markets. That’s barely $40 billion in assets out of the more that $13.3 trillion.
While buying opportunities exist in today’s market, McGee cautions: “If you’re considering buying a property pre-foreclosure, at auction, or REO, pay attention to its condition inside and out. That great deal could end up that horrible nightmare if you haven’t accounted for possible property problems, the cost of repairs, and more. Don’t expect a great deal at a foreclosure auction, either. If there is one, the pros likely beat you to it, or the ‘great deal’ isn’t. Better still, find the right professional to teach you about foreclosure auctions, and learn how you can beat the pros in their own game.”
With its data base of more than 5.5 million property listings, ForeclosureS.com has been the professional’s source for accurate foreclosure property information for more than 20 years. For more information on ForeclosureS.com and its products, please visit www.foreclosures.com. ”
Navigate Your Way through the treacherous Waters of the Housing Market:
Click Here to Get Your Foreclosure Survival Guide !
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09.06.08
Posted in Second Income at 8:00 pm by Administrator
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08.16.08
Posted in Foreclosures at 11:33 pm by Administrator
1. Do NOT ignore the lender.
Most Lenders DO appreciate your communication with them if you are
having problems keeping up with your monthly payment especially when
your problems stem from bonafide reasons like the loss of a job or
health issues. Banks really do want to help you out since they want your
payment not your house. If you can’t deal with talking with creditors there
are also professional foreclosure negotiators available for you to use.
2. Do NOT stop making your monthly mortgage payments.
Let’s say you miss a payment and the second months payment is due.
If you have the money for a payment during the middle of the second
month don’t refrain from sending a payment in because you owe two
payments total. Send in the one payment because if the lender sees
you are showing an effort to pay then foreclosure proceedings will be
delayed. If you can keep in contact with the lender then you can
delay until you can get on track.
3. Do NOT spend your mortgage payment on other bills.
You may be getting frequent calls from other creditors for credit
card payments or other ‘non-essential’ bills but when it really comes
down to it you need to decide if you want to save your credit
cards or your house. Spreading out your payments on several bills may
hurt you in the long run because of accruing multiple monthly payments
on your mortgage.
4. Do NOT fail to have a Home Equity Line of Credit in place !
Before you start having any payment problems at all make sure you set up
an equity line of credit. If you need a bunch of cash to stave off
foreclosure with a huge payment then this will be something that may save you!
5. Do NOT fail to accrue savings for an emergency!
Most people have a problem with putting money away for savings but if
you put a little away with each paycheck then over time that savings may
come in handy when you need it most to save your house.
This technique requires a lot of discipline but has long term benefits!
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Posted in Foreclosure Survival Handbook, Foreclosures, Latest News at 1:21 pm by Administrator
The number of US foreclosure filings have skyrocketed lately
due to the impact of the dramatic decline of the housing market.
The combination of dropping home values, weak housing sales, tougher mortgage lending criteria and a slowing U.S. economy has left homeowners that are strapped for cash with few options to avoid foreclosure. Many can’t find buyers or owe more than their home is worth and can’t refinance into an affordable loan.
With the number of foreclosure notices hitting a record 272,000 homes that equates to one in every 464 households that received a notice. Such is the backlash of the recent mortgage crisis. 77,000 properties were repossessed
by lenders. Don’t let this happen to you. How can a situation like this be
prevented?
You need to determine if foreclosure is inevitable or if there is a way to avert
that much feared direction. To really find out what you’re faced with we have a Handbook that can help determine that.
With our Foreclosure Survival Handbook we discuss ways to stave off foreclosure, some things to consider when deciding if you should file for foreclosure, and how to
regroup if foreclosure is inevitable.
On this blog we are going to provide whatever resources we can to help you navigate through the mess you might be in.
http://www.pangearecommends.com/foreclosure/
Last month President Bush signed into law housing legislation that would allow homeowners to trade their mortgages in for a more affordable loan only if the lender agrees to take a loss on the initial loan. This is one way to prevent foreclosure and hopefully with this program becoming successful the number of foreclosures could stabilize as early as the beginning of next year.
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