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Can Your Mortgage Foreclosure Case Really Be Dismissed?

It is true. A mortgage foreclosure case can be dismissed. Florida foreclosure fighting attorneys at the Florida law firms have been successful in dismissing residential mortgage foreclosure cases pending in the State of Florida. Utilizing knowledge, experience and persistence, defense attorneys are able to have mortgage foreclosure cases dismissed.

The internet provides access to a vast and variety of information, documentation and viewpoints on every possible issue imaginable. Harnassing that ability with reality allows even an unrepresented borrower the opportunity for success in defending a mortgage foreclosure case.

Dismissals of foreclosure proceedings may be the result of several different methods of defending the foreclosure actions and prosecuting claims against the bank for truth in lending violations and unfair and deceptive trade practices among other grounds. Of course, the fortunate clients are always ecstatic to learn of the success of these “Florida Foreclosure Fighters” in their respective cases. After receiving a copy of the dismissal, homeowners are certainly thrilled at the news.

Utilizing the right of rescission pursuant to the federal Truth in Lending Act, among other legal arguments, attorneys and legal advocates may quietly forced the plaintiff to dismiss the case against their clients. In this instance, if a borrower is unable to obtain or afford legal representation, the pro se defendant is able to access information relating to the applicable truth in lending laws to his or her particular situation.

Form rescission letters are typically and widely available on the internet or in a local law school library. Ordinarily, this forms contain guidelines for the applicability to a particular situation. Of the dismissed cases, several matters included foreclosures initiated by the former Indymac Federal Savings Bank now owned and operated by One West Bank. Part of the foreclosure defense team discovered loan errors and miscalculations during the law firm’s loan audit and examination. If you have refinanced your primary residence within the last three years to an adjustable rate mortgage, you should consider a careful and professional examination of your loan documents. Again, software programs are available for download on the internet to review and examine loan documents.

However, this process is slightly more complex if the pro se litigant is unfamiliar with mortgage terminology and identifying loan documents necessary for the process. However, there are services that are fairly inexpensive to obtain loan examination results. In other cases, the persistent and patient defense of the mortgage foreclosure case may lead to the case being dismissed at a status conference and/or show cause hearing before the presiding judge if the bank fails to timely move the case forward. In cases, such as the aforementioned matter, where the defendant is able to defend the case for some extended period of time, the judge often becomes frustrated with the case not advancing on the court calendar. In such instance, the court may dismiss the case for the bank’s failure to timely prosecute the case.

Common problems and issues existing in these cases included loans that were transferred and assigned through …

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Four Strategies to Buy Rentals With No Down Payment

This tends to be a pretty controversial subject, and for good reason. When I was getting started in the business, I was young and broke and had no credit to speak of. I was not qualified to borrow money, yet I figured out how to buy properties, and I bought a lot of them. It was not long before I became a full time real estate investor, and on paper, I was a millionaire long before my 30th birthday. I accomplished this with a lot of hard work, education and tolerance to take the risk.

With all this said, just because you don’t need money to buy houses, does not mean you should have no money. I am a big, big believer in this. You see, although I was a millionaire at a young age, I basically lost it all when the market shifted. I was too aggressive with my growth, and did not establish an appropriate amount of reserves. After starting over, I structured things differently and am in a good position to not only survive a down turn, but to thrive in it. In this article, I will briefly walk through 4 ways to buy rentals with nothing out of pocket, but want you to understand that this does not mean you should own rentals with no reserves.

Owner Finance: This could mean many things, but for the purposes of this article I am going to assume that the seller of the home is extremely motivated and is willing to basically sell the house just to get away from the mortgage payments. This is commonly referred to as a subject-to transaction because you, as the buyer, will take title subject-to any other liens that are in place. What this means is you get ownership of the house, but the seller is still on the hook for the loan. You as the buyer will agree to either pay off the loan or make payments on the loan on their behalf. If you don’t, the lender can foreclose and wipe you off of title.

The seller is taking a tremendous amount of risk with this type of transaction, so it is difficult to negotiate and they need to be extremely motivated. It works well for you because you don’t need down payments or to qualify for a loan. It works for them because they have someone else making the payments on their loan, which relieves them of the payment pressure, and potentially can improve their credit. As you become more experienced, this is a strategy you will want to look into. This allows you to purchase an unlimited number of cash flowing properties without ever needing to qualify or sign for a loan.

Lease Options: This is the strategy that really worked for me when I was just getting started. I like it a lot because it is easy to explain to the seller and it is not difficult to get them comfortable with it. They still need to be …

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Some Advantages and Disadvantages of Buying an Older Home

A lot of people think that buying a new home has a lot of great advantages over buying an older home. These days, as the difference in cost between new and old homes become narrower, the question becomes more pertinent. What kind of advantages and disadvantages do you look at when thinking about buying an older home?

Let’s say for example that you’re looking at Mooresville homes for sale and are trying to decide whether or not to buy this gorgeous albeit old Mooresville real estate property. To help you decide, here are a few positive points with buying an older house:

1. Old style constructions – One of the beautiful things about old homes is the amount of meticulous labor that went into it. You’ll find a lot of old homes that still stand and are still beautiful precisely because of the craftsmanship that went into it. Old-style appeal, when further enhanced by regular maintenance, can really give a house a certain charm that’s noticeable. Dated architecture in popular styles of the period also has a lot more character. There’s really something special about owning a classically beautiful house.

2. Living near long-term neighbors – Old houses oftentimes come with long-term neighbors who grew up in the community. It makes for a good, family-oriented and oftentimes safer environment.

3. Some measure of security in terms of changes in the neighborhood – If you buy a house in an old neighborhood, zoning changes aren’t likely to change much over the years. This means that if you’re living in a largely residential and old neighborhood, it’s unlikely that too many commercial establishments will get included in the mix. Mostly because they don’t fare too well in old neighborhoods.

4. Spacious yards – Most old-style homes have houses that are built on large yards. This is because land was cheaper years ago. Having this much room can mean a great deal for you. It could mean additional space for the kids and the pets to romp about, or an additional garage or house extension, a gazebo or maybe even an additional building for a separate office or library.

If there are positive points, there are also some drawbacks to buying an old house.

1. Ongoing maintenance. – As with any kind of house, old houses require maintenance. Since they’re old and a lot of the systems and materials used may not be readily available anymore, maintenance can be more expensive than usual.

2. Repairing systems may be more expensive. – If there’s something that needs to be replaced in the wirings, plumbings, and the likes, it may be more expensive because the system is different from newer ones.

3. Smaller closets. – Old-style houses tend to have smaller closet spaces to accommodate bigger rooms and garages.

4. Often more expensive than new homes – Older homes are often situated near schools, mass transportations, and other important establishments. As such, they can be more expensive than new homes.…

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Permanent Foundations For Mobile Homes – HUD 7584 PFGMH Manufactured Home Inspections Guide

When you buy (or sell) a manufactured / mobile home, many times the loan involved in real estate transaction will either be an FHA or VA loan.  However, FHA and VA will only fund the loan if you can prove that the foundation under the home is a permanent foundation.

But what is a “permanent foundation” and where do I find it’s proper definition?  Well, in HUD Publication 7584, is where you will find its definition.  The definition is quite extensive and geared, mainly, towards professional engineers.  

The HUD 7584 publication is also called the HUD Permanent Foundation Guide for Manufactured Homes, or PFGMH.  It is published by the United States department of Housing and Urban Development (HUD).  This 400 page manual is intended for new construction of manufactured home permanent foundations. If you have an existing foundation and are in need of a permanent foundation certification, then the existing permanent foundation shall meet the intent of the PFGMH.

A manufactured mobile home foundation that does not meet the intent of the PFGMH is considered non-compliant, and one that does meet the intent of the PFGMH is considered compliant.  Only a professional engineer licensed in the state of where the home is located can make this determination.

In its most simplistic definition, a permanent foundation will generally consist of a skirting to keep out vermin and water, footings and piers to support the home from gravity loads (such as snow and live loads), anchorage to resist lateral loads such as high winds or an earthquake, and other considerations.

The reason why a professional engineer is required to determine whether it is permanent or not, is because of the safety issues involved with a structure that houses people.  Professional engineers have the training and educational background to determine if the foundation is safe and habitable, and also “permanent” as defined by HUD.…

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Caret Bay St Thomas

There is a hidden jewel in St Thomas called Caret Bay. Caret Bay is located on the lush tropical rainforest section of St Thomas. It is only two bays over from Megans Bay and one bay away from beautiful Hull Bay. Most tourists are very unfamiliar with this area of St Thomas. They typically rush to see the things that most tourists do. They travel to Megahans Bay and downtown for shopping.

New homes are being built in East Caret Bay. These homes are going to be built on land that sells for 250,000 so cost to build a home will be in the millions. It is certainly a great area to be in. So far none of the lots are sold because the real estate market is somewhat down. But they will be a very good investment in a few years.

Caret Bay is home to many locals. Homes range from 200,000 to the multi millions. Most homes offer water front views and have been owned by the same families for many years. You will find the locals to be very friendly, courteous and helpful.

Wouldn’t it be great if tourists could see all of what St Thomas has to offer, including Caret Bay? You can rent some beautiful Caret Bay Villas on the North West section of the island. They include 14 luxury villa rentals and are waterfront property. There are 14 villa units varying in size. Some of the units are two bedrooms while others are four bedrooms. They all offer waterfront views and are very private.

What is great about the area of Caret Bay is the privacy and seclusion you get on the very busy Virgin Island. This is tough to come by on St Thomas as it is a very busy island. The population of the island is 50,000 but at any given day there could be two to seven cruise ships in. This increases the population of the island by up to one hundred percent. Most tourists do not even know that Caret Bay exists. Some of the local taxi cab drivers take many of the cruise ship tourists by cab up to the North side of the island because of its beauty. This is really nice because some people will get to see the beautiful side of Caret Bay.

Some other interesting things to do in Caret Bay are surfing. The waves come in from the north and can be quite large. Many locals will rush to the beaches when a North swell comes in. It is great fun just to watch them all riding in the waves. Some of them are really nice and will give you lessons while other surfers do not want you stealing their waves.

St Thomas is a small island of about forty two square miles. The roads are windy and very hilly. Driving to Caret Bay from the airport could take you minutes just to go a few miles. This is because the roads do not …

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Buying Vs Renting: When to Buy a House and When to Rent

Buying your first home can indeed be an incredible milestone in your life. In line with this, you may feel a mixture of many emotions like fulfillment, happiness but at the same time, there’s nervousness that may impair judgement. You feel nervous about this big decision that you have to make, likely the largest financial decision in your life. And one of the most common questions you have to face is – are you going to rent or buy? Let us discuss about buying vs. renting in this post.

Before you come up with any further decision about moving on your own, you have to ask yourself, is it time that you buy your own house or are you better off renting a home?

When to rent?

Living solo? Renting a home might be more suitable for you. Living alone in a big house may be a bit too much – too much space and too much work or cost for the upkeep. If you don’t have the money for a down payment and all the costs of owning a house then renting is likely more advisable. Also, if you are concerned about job security then this is a sign to perhaps continue renting for the moment. Think of the impact to you and your family if you decided to buy a house and then lose your job after few months.

How can you afford to pay for the mortgage? Do you need to rent a room or part of the house to make it work? These considerations are very important before you come up with your final decision.

Do not rush in to buying a house most especially if you’re not financially and mentally ready. There is nothing wrong with renting first. Being practical will give you more benefits in the long run. Most of all, your REALTORĀ® is a source of valuable information to you as a first time home buyer.

When to buy?

Now, when is the perfect time to buy your house? One main factor to that is when you are financially stable. And when we say financially stable it means that you have funds for at least a 5% down payment for the new house, a permanent and stable job and probably a savings to serve as your back-up plan, should you need to repair or renovate the home. Also, you have to remember that it doesn’t end in paying the down payment; you also have to pay for other costs in buying your own house like budget for the furniture, utilities and of course the monthly mortgage rate. During the purchasing process you will be writing cheques to home inspectors, insurance policies and lawyers.

Having a family could be another factor that will lead you into the decision of buying a house. Raising a family in a house you can call your own is definitely ideal. Having your own garden so that your children can play or a big kitchen where you cook and …

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Buying Parking Lots and Parking Garages: Finding the Most Profitable Locations

There are plenty of successful investors out there, but many work so hard that it’s hardly worth the money-because they’re never freed up to enjoy the fruits of their labor! It’s far more worth it to find an investment strategy that would allow you to make considerably more money and create more time to be able to reinvest, spend that money, travel, enjoy time with family, or have fun with that “Bucket List”.

Owning a parking lot or parking garage is a great investment because they can offer you two things: free time and exponential amounts of income. Finding these gems is the hard part because most existing “cash cow” lots are sold before they are even listed. And most are purchased by other parking lot owners-they know what they have, and they want more. If you can find these potential parking lots and garages before anyone else, you can find these extremely rewarding profits too.

Think ahead

Most parking lot locations were never designed to be just that. Parking lots are built out of necessity, plain and simple. Someone would never build a parking lot and then proceed to build something that draws people who need to park; never! It sounds simple, but you need to be ahead of the building curve and search for land before it holds great value. You can do this by recalling where you would need to park a car. Think for a second: Where do people really need to park? Let’s brainstorm: shopping malls, schools, sporting events, entertainment districts, government centers…the list goes on.

Now let’s look at these ideas: malls will provide parking for customers because they want shoppers (so scratch that); schools do the same, but there always seems to be no parking at some schools (possibility here). Every time I see a concert, I end up paying to park; keeper. Last time I got a traffic ticket, it took me 30 minutes to find a parking place at the courthouse to fight that traffic ticket. Ding, ding, ding-got a good one here. Where have you needed to park? Where have you paid to park? I used the same thought process and search techniques you just practiced to purchase a one acre plot of seemingly worthless land across from a new 380 million dollar courthouse that was yet to be built. The property owner had the land for 30+ years and did nothing with it, including not reading any local newspaper that clearly highlighted the new courthouse: funding was approved, a date for the ground breaking ceremony had been set, and the severe lack of parking was already projected in the overly-crowded area!

Harness the power of Google

Seems so simple, right? After all, who has not Googled something? Google, the most popular search engine in the world, is a robust mechanism for quickly finding what you need on the web. Unfortunately, a standard Google search of “parking lot for sale” will currently return around 14.6 million results that are all …

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Advantages of Using Rolled Steel Joist Beams in Commercial Construction

When it comes to commercial construction projects, rolled steel joist (RSJ) beams are known for their superior quality, versatile support, and strength. Since the late 20th century, steel beams of this kind have safely and effectively been used in both commercial and industrial construction, and it is easy to understand why.

In modern times, RSJ beams have increased in popularity within the residential construction realm and can be seen being used in the reinforcement of decks, patios, and floors. Contractors enjoy using steel beams because they are durable, versatile, lightweight, and sturdy. Fabricating steel is easier than what it sounds as the material can be bent and manipulated with ease.

Due to the construction industry becoming more aware of utilising environmentally safe practices and materials, steel is always a number one choice for projects as it is considered a “green” material and does not emit greenhouse gases. RSJ beams can also be recycled an unlimited amount of times, which results in less waste material filling up landfills.

In comparison with other building materials like wood and concrete, steel beams are a far more cost effective option and offer a massive amount of benefits for the contractor, fabricator, and building owner.

Strong

As research has revealed, steel has the highest strength-to-weight ratio of any building material in the construction industry. This means that steel is capable of bearing far more weight and stress without compromise than a beam that has the same mass but made from wood or concrete. Both residential and commercial builders opt to use RSJ beams versus other materials.

In fact, in areas where natural disasters are prevalent, buildings are often constructed with a steel framework because they are able to withstand Mother Nature at her worst when other materials cannot. What would you rather be living in during an earthquake or hurricane; a structure made from wood or one containing RSJ beams?

Flexible

You might not know it, but steel beams are insanely versatile. This material can be used and reused in a variety of ways and architectural designs. Due to steel being so flexible, beams can easily be bent, shaped, cut, and formed into many different lengths and dimensions. Because steel is so lightweight, framing a building is a much more basic process than using other materials.

In most cases, steel beams are of the highest quality material in the construction realm. However, a reputable company should be selected when choosing a contractor, as you want to be certain the beams have been put through a battery of tests to ensure their integrity.

Durable

Did you realize that in terms of durability, RSJ beams take the lead? Wood and concrete beam do not stand a chance when it comes to the tough composition of steel. Steel beams are fire retardant, cannot be damaged by termites, and require no chemical treatments. Additionally, when steel is galvanized, it will never succumb to rust.

Longevity

When it comes to withstanding the tests of time, steel is the answer. Many …

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Free eBay Advertising With Bump Auctions

Do you want extra advertising for your eBay auctions? Do you want to increase your sales? Check out the free bump auction script. This article will outline how this simple and powerful online script can work for you.

How Does It Work A Website?

A “bump auction” is an online display of 100px x 100px images uploaded by eBay sellers. The “bump” refers to the way the auctions are bumped off the display when a new one is added. The auctions include an image and a title describing the item. When items are posted they are immediately added to the display. Besides the main bump on websites some of the featured bumps where you can post your auctions may include: adult, fur, real estate, classified, bike, Harley Davidson and jewelry.

More Traffic

eBay has millions of items for sale and competition is stiff. Smart sellers are turning to other sites to drive more traffic to their auctions. Using bump auction sites will drive more traffic to your items and help increase your sales. Many of the bump auction or auction bump websites are high traffic sites. You can find a list of these sites by searching for the Top 100 Bump Sites.

Free Advertising

Bump auction sites are eBay affiliates who receive commissions from sales. There is no cost for sellers to post their auctions on these websites. This is a win win situation for both the bump auction website and the eBay seller.

Tips

Most sites allow you to post up to three auctions at a time. Do not abuse this or you may get banned. All image formats are supported except bitmap. Use the title of you eBay auction for the description as well as for the image. Do not use special characters in your description only letters and numbers, otherwise the bump will not work properly and your posting could be removed. Try the bump…today!…

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Investing In Real Estate For Beginners: Apartment Complexes

Here is some advice for investing in real estate for beginners who are thinking about investing in apartment complexes. Many commercial property advisors with an opinion say that apartment complexes with over 150 units are the properties to buy, it’s not necessarily true. Multifamily units are indeed a solid investment. However, what you really want to invest in is where you can earn the most rent per unit. Often that is in multifamily complexes with less than 100 units.

When you are making a purchase bid for a large complex, you are often bidding against financial institutions with deep pockets. This creates two distinct disadvantages for you as a beginning investor.

First, most beginner commercial investors are forced to join a large consortium of other investors to get in on a multi-million dollar deal. This dilutes your ownership interest and the weight your opinion counts when issues arise such as when to sell.

Second, when you and your investors are bidding with the last dollars that you have to invest, the large institution can easily out bid you by several thousand more than you can raise. Going up against large institutional investors can be overwhelming.

There are many other reasons to invest in complexes with less than 125 units:

A. There is less upkeep and maintenance. You may be able to avoid the added expense of an on-site manager and full-time maintenance crew.

B. There are more medium-size complexes available at any given moment. That means less competition from other investors and more opportunity to find one with exceptional cash flow.

C. Cash on cash returns for medium complexes are frequently better than for large complexes as you are able to offer a wide variety of amenities and services.

D. You will not be dealing with a financial institution as the seller with a cumbersome sale policy. The seller will more likely be an individual or small partnership that can provide flexible sales terms if they choose.

E. They typically will require less equity to acquire. This means you can control the property as an individual or with a couple of partners. You thus own a higher percentage of the property and thus a bigger amount of the profits.

F. Often the less knowledgeable seller has avoided raising rents because they have become friendly with the tenants or they are afraid the vacancy rate will increase. By studying the local market rents and vacancy rates, you could find that you can immediately increase cash flow through rent increases.

There are some very good arguments to owning small apartment complexes in the 4 to 12 unit range. This can be a good start if you personally manage them and perform most of the maintenance. However, this size complex seldom generates enough income to leave a profit when a property management company is hired.

Investing for beginners can begin with small complexes and once the income is stabilized buy another. After a couple of years, you will have 3 or 4 small …

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