Buying foreclosed homes

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Jul 092020
 

Both individual buyers and real estate investing companies with large portfolios are interested in buying foreclosures because of their significant discounts. Foreclosed homes are an opportunity for people who cannot afford to buy a house otherwise, because of the prices on the real estate market. Instead of giving in and settling for much less, many of them discover foreclosure lists and the foreclosure market. Any effort invested in the search for foreclosures will be rewarded, due to the low purchase costs and to the comforting feeling of succeeding to buy the home of your dreams.

If a homeowner secures a loan with his property and fails to pay for several consecutive moths, he has his home taken by the lender and listed among other foreclosed homes. Usually, foreclosure properties are included in foreclosure lists if the owner misses more than two monthly payments and they first appear on these listings as pre-foreclosures. During this early phase, they are real investment opportunities, because you can get better prices if you deal directly with the owner. Even if the houses are not in an excellent shape, the price is lower than average and you can do the repairs and the improvements along the way.

If the homeowner does not contact the lender after two payment requests, the lender will usually make a demand for full payment, which is stipulated in the mortgage under the acceleration clause. Now the homeowner owes the balance of the mortgage plus all the late payments, legal fees and late fee penalties. If he doesn’t make all these payments, the foreclosure process begins and the property appears in foreclosure lists as one of the foreclosed homes. A certified letter of foreclosure is served to the owner by a processor or by the local sheriff and an auction date is set. Anyone who has a deposit check for the stipulated minimum can participate to the auction.

All types of lenders (credit unions, banks, private lenders) are motivated to sell their foreclosures as soon as possible because they want to improve their liquidity ratios and to get rid of their nonperforming loans. Bank foreclosures are very popular because people usually consider banks to be more reliable institutions and because there are no title issues and back taxes involved and no tenants to evict. Foreclosed homes are usually sold at a more than reasonable price, always below their market value, because banks are eager to recover the loaned money and are open to discuss the provisions of the contract and to negotiate the price. If you know how to deal with them, you can get low interest rates or a low down payment. This is why bank foreclosures are considered one of the safest investments and never fail to attract potential investors, who are sure to make a profit by reselling the houses later on.

After you have decided to go for foreclosed homes, you should immediately subscribe to some of the foreclosure lists available online. A proper list includes information about the properties and contact details of lenders and owners. The property description should include the home’s square footage, number of bedrooms, bathrooms, condition, sale price, additional features. A number of web sites offer a few day trial memberships, so you should try them and decide which one offers the most updated listings. You will also find foreclosure lists offered for free, but they will not provide you with a high degree of reliability. Everything comes with a price, so if you don’t want to get an outdated list, you’ll have to pay a subscription fee. The effort of carefully searching foreclosure lists and choosing attractive foreclosed homes may take you some time, but in the end it proves to be worthwhile. You can shop from your room without leaving your computer and you can find houses for as little as $10,000.

Myths revolving around foreclosed properties

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Jul 082020
 

The mirage of auction participation and bidding, including here the auctions organized for selling real estate foreclosures, has been tailed by lots of myths and legends. Foreclosed properties have constantly been associated with the low costs, great houses, and stunning bargains. However, this is not the entire truth!

Here are some of the myths gravitating around real estate foreclosures that worth being known before getting caught too deep into such a transaction.

People generally assume that since the property in question has been labeled as foreclosure, then it will be sold for little money. Well, don’t expect to get a foreclosed property for 100 bucks! This is not a bet; almost certainly we’re talking about a bid. But you can bet your money that the highest bid wins! A good deal comes along with a carefully prepared bid. An accurate and sound bid implies a lot of research in the field to establish the neighborhood, assess property’s condition, evaluate the amount of repair and touch up works needed, and find out possible legal matters clouding the title. Unrealistic offers are quickly rejected. As long as you stay within some reasonable boundaries, everything related to interest rates, price, and down payment can be negotiated.

Another misconception when buying real estate foreclosures is related to the quality provided. A common belief is that there might be hidden liens or judgments attached. In reality, lenders’ interest is to secure the foreclosed property’s clear title. So, the lender, typically the senior lien holder, wipes out all junior lien holders or judgments in the process. Because, let’s face it: no big corporation would go through the time and effort consuming process of foreclosing so that in the end to lose the property for a few thousands in back taxes. A foreclosed property is generally sold with clear title, all related costs being included in the final price. So, if you heard that the lender must sell the property for the same amount paid at the auction, your information source cannot be trusted.

Don’t assume that lenders are in such a hurry to sell the real estate foreclosures that they will bend over backwards and accept just about anything. It is true that lenders are in the money business, not in the real estate business, and consequently they are only interested in getting the investments back as soon as possible, even partially. Lenders – banks, government agencies or financial corporations – usually market the foreclosed properties owned through recognized real estate brokers or agencies. Some agencies are specialized in real estate foreclosures, so they represent the interests of the lenders and place directly into their pockets the big discounts applied when selling a foreclosed property.

Unfortunately, there is so much misinformation regarding lists of foreclosed properties, whether bank or government owned, pre or post-foreclosure. Many consumers are puzzled by the onslaught of real estate foreclosures information services and listings posted on various websites offering the lure of free use and benefits. If you are looking for a large trustworthy selection of foreclosed properties at your disposal, then you would want to look into joining a daily updated online database service such as foreclosureconnections.com. All you need to do is become a member and you are granted an immediate access to finding the foreclosed property that best suits you.

How To Build Your Business With An Opt-In List

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Jul 072020
 

Before revealing the secrets of the trades, here are myths and
fallacies that need to be cleared before one indulges into
building an opt-in list. These marketing misconceptions could
pose so much of an obstacle towards your profitting well from
your business.

Not a lot of people use email

Email marketing is one of the most effective marketing methods
nowadays simply because virtually almost all people use email.
Check on those email fields or blanks required to be filled up
on various forms needed in processing different transactions. A
person without an email address is tantamount to a person
without an online home, which is one big shameful truth for this
generation.

Email marketing campaigns can offend a lot of people

The not-so secret way to surmount this dilemma is through
permission-based advertising. There’s no harm in trying after
asking for permission.

It’s stupid to send email to all the people

The key to this predicament is to have a very discerning eye on
who to email and who to not email. Better look for some metrics
on how to know which group of people would give you high ROI or
return on investment.

The Real Deal with Building Opt-in List

After clearing the fog regarding email marketing myths, here’s
how one can benefit from employing the power of email marketing
campaigns – building an opt-in list.

However, building an opt-in list is not a piece of cake
particularly for the uninitiated. Here is a roundown of tips on
how to succeed in this kind of marketing endeavor.

1. Strategic Collection of Data

Know which information from your audiences will help you in
lowering expenses and/or make sales flourish. Devise a tactic to
make people voluntarily provide you with the information
necessary to create higher conversion.

Overload of data is not good. Ask only for opt-in, with their
full name and email addresses. Make sure that the profiles that
you gather are updated to aid in improving the relevance,
timeliness and satisfaction from each deal you make.

2. Good Implementation

Old adage says it all – ‘action speaks louder than words’.
This easily translates to the difficulty one has to undergo
during the execution of his or her email marketing efforts.
It’s a good thing that various methods, often low-cost, abound
to hasten and facilitate the building up of one’s opt-in
database.

Tracking your email marketing results can pose great hardship,
too. Technology and relevant sources should be employed in
making this aspect of your marketing a lot manageable. Your high
traffic groups of opt-ins with the greatest result should be
taken noted of.

The following are the most widely used methods to leverage
channels without overspending:

1. Make use of websites.

It is an excellent tool for data collation and providing you
with relevant info regarding your email offers. Use forms that
solicit your visitor’s email address and consent.

2. Make use of print ads, brochures, TV, radio and direct mail.

These are the more popular ways of marketing aiming to lead
traffic to one’s site. You may want to ask for signups for
email services. Make your website more visible through these
media. Offering free electronic newsletters and or rewards
program can do well in making it easy to win the nod of your
audiences, too.

3. Maximize your sales force.

Customer service associates can help a lot in making you benefit
more from your email correspondence. Sales people with proper
education on how to aid you in this endeavor can very well
contribute to higher ROI. Techniques like offering account
updates and special programs through email can easily land you
those lists of valuable visitors.

4. Don’t make your point of sale pointless.

Forms for signup located at cash registers and other
high-traffic and highly visible spots can be very excellent
venues for your business to collect email addresses.
Notification of upcoming sales through their email addresses and
names can coax them to supply you with the information you need.

5. Conferences or trade shows can work, too.

Giveaway offers or entries on sweepstakes are great for opt-in
to volunteer their contact details.

These tactics should be applied with adequate caution and should
focus on earning the trust of your opt-in list instead of simply
collating data for your sole own benefit. Always make sure that
the forms that you will use and other methods that you will
employ will not necessitate too much fuss to subscribe. This is
for people to not be annoyed during the process of data
supplication.

With that bunch of information, who can ever go wrong with the
feat of building an opt-in list?

How to Search For Unsecured Personal Loans

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Jul 062020
 

A financial shortfall can happen to anyone, whether you have good or bad credit record. For such people, unsecured personal loans can prove to be miraculous. Earlier it was quite problematic to find a loan for non property owners because of higher risk involved. But with an alteration in the needs of the borrowers, market trends have also witnessed a change. These days, one can find a large number of lenders, offering unsecured personal loans for all his needs. Now, we will discuss in detail how and where to search for unsecured personal loans to find the best nominal rates.

Unsecured personal loans cater you with the tranquillity that you will not have to put your property at stake. It implies no evaluation of property is required, which saves much of your time and some money, as well. However, higher risk is compensated by higher rate of interest. You can still find nominal rates with proper search and a good credit score.

Unsecured personal loans have huge applicability. One can make use of these loans for various purposes like wedding purpose, educational purpose, Christmas purpose, debt consolidation purpose, and home improvement etc. But always remember that exemption of collateral never free you from the responsibility of repayment of the loan amount. In case of non repayment of the loan amount, your lender will have complete authority to take legal action against you. It is advisable to make some repayment schedule and strictly adhere to it.

You can find best rates of unsecured personal loans by making your search through various online sources. The inherent reason of competitive rates is hard core competition in the market. There you can easily find a large number of lenders at a single place. Moreover, you can compare various quotes, and crack the best deal.

Interest Only and Second mortgage rates

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Jul 052020
 

Interest only mortgages have been popular for decades now. They are popular for a variety of reasons. They offer you a relatively flexible repayment option to begin with. You can repay the amount borrowed from the lender over a specified period of time. The time period could be anywhere from say five years to thirty years. Interest only mortgages have become even more popular because of lower interest rates, resulting due to competition. They have been primarily responsible for the burgeoning real estate market, everywhere.

There is one thing about interest only mortgages though. They are interest only, only in name, in reality you will have to not only pay the interest but also the principal. It is best advised to remember this fact. Interest only loans are ideally suited for various strata of the society. Historically interest only mortgages have been popular with the rich and the business class. They get money and then invest it any popular business venture and repay the amount, with the revenue generated out of the new venture. For them it is a good investment option.

Thanks to low interest only mortgage rates, home loans have become real attractive. They have put housing within easy reaches of a vast majority of the populace. People who could hitherto ill-afford a rented flat, leave alone an own home, are now able to afford them. What interest only mortgages have done is to increase the purchasing power of millions of people. Even young executives, just starting out on their careers are able to afford palatial houses, for the simple reason, that they could afford to repay the amount, over a period of time.

Interest only mortgages have their own potential risks though. You cannot always predict the behavior of the market, can you? Interest rates are subject to changes. You may have got your home through the ‘lowest interest only mortgage rate’, but one fine morning you may find the rates zoom and will have to shell out a substantial additional amount as your monthly interest repayment. Real estate prices are also subject to changes. If they are to go up, well and good. What if they were to crash? You will have to actually pay more than what you had calculated in the beginning. One needs to go through extensive online resources before going in for interest only mortgage rates. Online calculators will enable you to calculate your repayments. You can also read product reviews, online. It is always recommended to consult your financial advisor and have a free and frank discussion, before making that all important decision.

‘Second Mortgages’ are also increasingly becoming the first choice customers, all over the world. The reason for their increasingly popularity is that many a lender is offering second mortgage loans with a repayment period extending as long as 15 to 20 years, just like in the case of first mortgages. You need not worry any longer about repairing that house of yours, or hiring the services of an interior designer. Second mortgages are there to help you out. They are in fact here to stay.

Their long term repayment option makes them attractive because, for instance if you need to borrow $50,000 to get repairs done on your home, you don’t want a loan that requires you pay up within one or two years, do you? Second mortgages with long term repayment options would make more sense to you. They are ideally suited for your needs.

As with first mortgages, you can get comprehensive information about lender details, mortgage rates, lowest rates of interest and related information from leading lenders and brokers, on the internet. One should go through the various online articles, especially review articles and FAQ’s that have been provided to help you find your best deal. For instance you may find out about the lenders who are offering fixed interest rates on second mortgages and alternately, who are giving you the best deal, when it comes to variable interest details. Such information is of vital importance for arriving at the correct decision.

Your lender or broker may be help you come to a conclusion. Ask questions, questions and more questions, to elicit the right information. Find out about the risks involved in lower second mortgages rates from your friends, who may have availed them in the past. Get in touch with your personal financial advisor, for real professional help. One also needs to go through the ‘fine print’ in detail and clarify every possible doubt with company representative, before signing on dotted line.

Personal loans UK – The most marketable loan option in the UK

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Jul 042020
 

Personal loan is the most saleable loan option in the world. This option is like a one-stop credit shop, as it offers numerous financial solutions. Taking loans is longer a stigma. In fact, it has become so common that the loan bazaar is over flowing with customised loan options and people are conveniently availing them for day-to-day requirements. The credit business is booming… Personal loans UK offers diverse options that can be broadly classified as: secured, unsecured and high risk or bad credits.

Secured personal loan option can be termed as a far-sighted option. When it comes to borrowing a large amount of money, this option offers comparatively lower interest rate with flexible repayment option, however, in exchange of a collateral. Collateral is a way to ensure that the borrower pays back, as per the set terms, to the lender in order to retain his security. Unsecured personal loan, on the other hand, can be termed as a risk-free and stress-free option. It is an instant solution for anyone who needs fast cash, be it a tenant or a homeowner who is reluctant to pledge his asset. Absence of collateral condition and rigid credit checks, along with, less paper work and quick approval makes it the most desirable Personal loans UK option. However, in the interest of the lender, the option is compensated with high interest rate and fast repayment plan.

Lending is a business. Hence, irrespective of the loan option, a sound credit history is definitely ‘the key’ factor. It gives the lender the confidence to part with his money. But, bad credit holders are also given a chance under ‘unsecured bad credit personal loan’. Specially designed for people with bad credit history, this loan option gives them the opportunity to get out of the financial crisis and improve their credit history too, but at higher interest rate and a very stringent repayment plan.

With the advent of the modern Internet technology, exploring and applying for a loan has become very easy. In fact, some of the lowest loan rates can be found online, as the overheads of online lenders are much lower. So, if you need some extra cash, a good personal loan deal could help you. It is advisable for a borrower to assess, plan and then select.

Why not upgrade your cell/mobile phone for free?

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Jul 032020
 

The following article is written for the benefit of mobile phone subscribers in the United Kingdom, although, mobile phone subscribers from other countries that have the same systems and rules as the UK on contract mobile phones could benefit from this article as well.

Have you noticed that some of your friends at work keep the same handset for 2 to 3 years or even longer (even though their contract is for 12 months)? If so, they are not using their right as a consumer to update their mobile phone every 12 or 18 months at the end of their contact. If they want to stick to their old handset because they are familiar with it or they are afraid to learn and explore the new technology on the latest handset, they can still upgrade to get a new handset for free. They can continue to use their old handset and either keep the new handset for back up in case their old handset fails for some reason or is lost or damaged. If they prefer, they can sell it and make a little bit of cash for themselves or they can give it away to a friend or family member to use as a ‘pay as you go’ phone. Alternatively, they could give it to charity so someone else could benefit from it.

There are 6 main mobile phones networks in UK, namely O2, 3, Orange, Vodafone, T-Mobile and Virgin (a virtual network, using T-Mobile as its carrier). Each network has its own unique policy when it comes to upgrading your mobile phone. If you are a customer of any of the above networks and you think you are not getting a good deal on upgrade from your existing network then porting your number from one of the above networks to another is an option (at the same time you can upgrade your handset) and you could end up with a better deal.

I personally believe you can benefit from porting rather than upgrading on same network – as recently I have ported my number from Vodafone to Orange and I received the Sony Ericsson 990i for Free, through the online shop of mobilephones24.co.uk. Porting your number can take as long as 7 days but meanwhile you do not loose your connection as all this process is done automatically by Network to Network through PAC (Port Authorisation Code) process. Before you port to your new network you should check the coverage of the new network.

Quote from number porting section of mobilephones24.co.uk:

You must not cancel your existing contract with your network, as disconnected numbers cannot be transferred. When you provide your PAC number to your new chosen network this will instigate the cancellation process with your current Network/Service Provider.

So in summary to upgrade your handset for free at the end of your 12 or 18 month contract:

1- Call your network (at the end of your contact, this could be 12 or 18 months, I personally always go for a 12 months contract – there is a new and latest handset every other month or even week), see if you can get a good deal if you going to renew your contract for a further 12 or 18 months (just get a quote, then start shopping around).

2- Then check with other retailers especially with online mobile shop (i.e. shop around for best possible deal) if you can get a better deal if you upgrade your network through them.

3- You should definitely consider porting you number to another network. Remember you can get a better deal on porting your number to another network since you will then be considered to be a new customer by the new network.

If you are in the UK or some EU countries it is also worth getting a quote for upgrade and porting from the Carphone Warehouse, the largest independent mobile phone retailer in UK & Europe. Their purchasing power makes it possible for them to provide customers with some good deals.

Good luck

By Emma C Jones

Emma C Jones is an independent consultant in consumer affairs

When To Sell…And When Not To Sell

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Jul 022020
 

A visitor to our forum recently had a question about a non-profit agency for disadvantaged children that was requesting permission to use photos from her website. The photos would be used in the agency’s library.
The question went like this (I’ve used the word COMPANY in place of the actual name of the organization):

Q: I have been asked by the COMPANY Photo Library in London to supply them with about 20-30 shots of a particular subject for a flat fee of around U.S. $900. For that price they want non-exclusive unlimited reproduction rights.

They want to be able to use those images in their library, which seems to me they will be making money off the photos.

If they are for internal COMPANY use only, maybe I will do it, but if they lease the photos to third parties, I would want standard commissions. Seems like a Work-for- Hire deal here, but I would retain copyright.

Any suggestions about the best way to handle this?
– – – – – – – – – – – – – –
A: It usually takes some back and forth negotiating with a situation like this. Very often, the final “wedding” actually goes smoothly and you gain a lifelong photobuyer who recommends you to other similar buyers. However, sometimes the whole thing ends in a “divorce.”

So, with that in mind, here are a few comments:

This is very similar to the occasion when you place your images with a federal or state Travel Organization or a Bureau of Economic Development. Unless you specify other arrangements, the images often become “public domain.” You lose control. You don’t know where your pictures are being used.

“Unlimited reproduction rights.” Depending on what the COMPANY means, this could become the equivalent of Royalty-Free, which is not altogether bad, but you would not be able to license those images as Managed-Rights in the future, unless the prospective Managed-Rights buyer would excuse the competition from COMPANY.

“Model releases.” They are not required, in 95% of cases, if the pictures are used for editorial purposes (information,entertainment). The usage becomes a “commercial” use if the pictures are used for advertising COMPANY’s services. It doesn’t matter that COMPANY is a non-profit; the pictures are still being used for ‘advertising.’

OUT OF CONTROL

Are the pictures in the COMPANY’s library “free”, or for sale? You’ll have to clarify wether the COMPANY will lease your pictures to third parties, some for editorial use, some for commercial use. In some instances they may give them away -free.This is where the waters get muddy. “Standard commissions …” you should pursue this on the condition that you would lease the pictures to them if they would give you, say, 50 or 60 percent of any sales. If they like your work and want to continue working with you, perhaps they would joint venture with you in this manner.

“Work-for-hire.” The Copyright Law says that they don’t ‘own’ your pictures, (Work-for-Hire), unless you make a written agreement that you turn over the copyright of the images to them. If that’s what they want, to own all rights to your pictures, ask them to make you an offer you can’t refuse. Unless that written agreement is made, you definitely still own the copyright to your pictures. And the good news, you can always regain complete control of your pictures, later on, once your agreement with them expires. Check out the Copyright section at the Kracker Barrel to see what options you have.

All of these points revolve around a central question: “How much do they want to bend in order to gain use of your images?” And remember, your images don’t have to be award-winning pictures, but they do have to be the kind of images COMPANY has been searching for, and need.

Ways to Get more Traffic to Your Website

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Jul 012020
 

There are many different techniques and strategies that are used to attract targeted visitors to your website. The most important thing in today’s competitive internet universe is to find practical ways of promoting your website without having to spend a great deal of money.

1) Participate in forums:-
Many forums allow you to add a signature to all your post. The more you participate in these forums, more your links get exposure.

2) Write Articles:-
Write articles related to your site content and submit it in as many article directories as possible. This will not only bring additional traffic to your site, but it will also help you to build credibility.

3) Submit your site to Search Engines:-
Submit your site to major search engines like Yahoo, Google, MSN and Open directory which are great traffic sources. If your site gets listed on these major search engines then you get lot of free traffic. Sometimes after submitting your site will get queued for review means that your site will be personally evaluated by human being.

4) Email Marketing:-
Opt in list is one of the most powerful website promotion. Lists are very effective and can produce large volume of sales in very short span of time.

5) Newspaper advertising :-
Continually advertising in local news papers week after week will help you reach more and more people offline.

6) Press release :-
Release your writing competency and start up a press release that advertises your site! This is a free website promotion tactic that you can do anytime. This will bring in enormous amount of traffic to your site

7) Banner exchange :-
Make a banner of your website and exchange it with other webmasters.

These are some of the techniques that are sure to bring in visitors to your site.

If you wish to learn more about internet marketing please visit: http://www.money-review-site.com/internetmarketing.html

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