Buying Foreclosures Can Be A Win-Win

Sales in the Real estate market have been booming for years, but now the majority of home sales have slowed down. We are in what is considered a 'slow market'. Homes are not appraising for what they once did, so the selling prices have dropped. You can no longer get the price you once wanted. There is a large inventory of homes for sale. The mortgage meltdown, where there are no longer hundreds of subprime lenders have an impact on the market.
The resets of adjustable mortgages have home owners scrambling to pay their mortgage each month, which is causing foreclosures to reach an all time high.

It can still be a good time to purchase property. Many first time buyers and real estate investors buy more real estate in slow markets because they are able to purchase properties at lower prices than previously possible. Now is a great time for sellers to offer Owner Financing, which would allow more buyers the opportunity to obtain home ownership. If the seller markets the 'deal' and not the house, more interested buyers will come your way.

If you are looking to purchase property in today's market, one might consider buying a foreclosure property. First-time home buyers are looking into foreclosures because this is an excellent opportunity to buy a house at a lower than market-value price.

If you approach a homeowner facing foreclosure, you can offer less than it's current market value, but still offer more than what they owe the bank. This can be a win-win situation for both parties. Take into consideration the state of mind the homeowner is in if facing foreclosure. This will not be a happy experience. Actually a very stressful time for them, but if they can sell their property before the actual foreclosure takes place, this may enable them to walk away with money in their pocket.

ex: A Home is currently appraised at $400,000. They owe to the bank approximately, 200,000.00 A buyer offers them $300,000.00. This home owner could actually walk away with $100,000.00. If their home went to foreclosure auction, they probably would not receive appraised value or receive extra money to keep in their pocket. They may only receive what they owe to the bank. If they tried to sell their home on the market, they may run out of time.

When a home owner is in the pre-foreclosure stage, potential buyers and/or investors will be able to do the most good for the homeowner and for themselves. Pre-foreclosure is where further damage to the home owner's credit rating can cease and the home may be sold before getting the lender involved. The best potential leads to locate a property at this stage is from a foreclosure database.

Browse The Country’s Largest, Most Comprehensive Foreclosure Database Free Today at RealtyTrac.com!

According to RealtyTrac, foreclosure filings — default notices, auction sale notices and bank repossessions were reported on 223,651 properties nationwide during the month of February 2008, a 4 percent decrease from the previous month, but still a nearly 60 percent increase from February 2007. The report also shows one in every 557 U.S. households received a foreclosure filing during the month.

RealtyTrac offers information on the buying and selling of foreclosed properties. They provide Coaching and learning services, which includes an education section, questions and answers, MLS listings, search by state and pre-foreclosure information.

A 7 day free trial offer can be found on their site enabling you to search over 650,00 properties. Once a member of this free trial, you can search the properties in the state you wish and receive all the property details.

Light at The End of The Tunnel

We have all heard the bad news. The real estate market is suffering. More than two million adjustable rate mortgages (ARMs) are to reset at much higher rates in coming months, worsening the housing market.
The mortgage crisis rippled into the nation's economy and the average price of a home is on a decline.
Foreclosures are at a record high and will only worsen. It is a sad state of affairs.

Based on that news, it has many people worried. The national news we hear may not be reporting what is actually happening in your area or how it is affecting the state you live in. You may have noticed the interest rates have come down, which will allow more interest in home buying, but do you know what is happening in or around your local area?

I came across a blog that points to 'light' shining on the real estate market. Are we just hearing all the bad news and the good news is being left out of the reporting? I believe sometimes that is true. It seems the bad press surrounding Cincinnati Real Estate is not exactly true. The stats for this area are showing:

* Buyers' or Sellers' Market: About 50-50
* Average Time on Market: 60-90 days
* Market Trend: No Change
* Compared to last year: Up 0-5%
*Only 5% of homeowners have a non-prime or sub-prime borrower with adjustable rate mortgages

Those are pretty good stats. When you have an experienced professional reporting information in your area, you can rest a little bit easier when looking into buying or selling a home. I found that Amy B believes it is her job to inform and educate the people in her area. This is one realtor that loves what she does and it is projected in her performance and services she offers. Her blog, provides motivation and information regarding her local real estate market.

I found http://www.amybsells.com to be a very professional and easy to navigate site, which offers a grand list of resources available. One of the services she offers provides Home Staging. That is key for a home seller. She plunges in immediately with her marketing and creates a custom plan appropriate for each client.

Using MLS, Internet Marketing, upgraded advertisement, virtual tours, electronic lock boxes for safety, incentives for the seller/buyer, I'd say she goes above and beyond her call of duty. The team working with her strives to provide a smooth transaction. She wants her clients to feel supported, so she offers herself 24/7.

More real estate professionals should take the time to educate as Amy is, while providing services which will allow buyers and/or sellers to be successful.

Be sure to stay informed on what is happening in the market surrounding your area.

*Advertisement

House Committee Passes Mortgage Reform Bill

WASHINGTON -- Members of the House Financial Services Committee voted
to approve a bill imposing sweeping changes on the mortgage industry,
including minimum standards for approving loans and some new liabilities
on those who scrutinize risky mortgages.

Committee members OK'd the bill by a vote of 45 to 19. The bill would mandate licensing for mortgage brokers and bank loan officers and set a minimum standard for all mortgages stating that borrowers must have a reasonable ability to repay. The bill was introduced by Democrats Barney Frank, Mel Watt and Brad Miller. Frank, of Massachusetts, is the committee's chairman.

This may hurt consumers by raising their costs for home loan financing, decrease competition, and give consumers less options for financing their homes.

The Mortgage Reform and Anti-Predatory Lending Act of 2007

An important issue is happening right now regarding the mortgage industry and the restrictions on borrowers qualifying for home loans.If you are a loan officer or a mortgage originator, this new bill introduced, may affect the way you will get paid or cause extinction in the future. It will also limit the choices consumers have in finding a residential mortgage loan to strictly large financial institutions.

In attempts to start regulating our industry, restoring ethics and responsibility within the mortgage origination industry, The Mortgage Reform and Anit-Predatory Lending Act of 2007 has been established.

To view the Complete Bill (HR3915) go HERE

After reading this new bill, you can show your disagreement by signing the petition by going HERE

What are your thoughts about this new bill? and, will this new Bill affect YOU?

And The Answer Is ~

Ask AC Associates and you will receive an answer...

I received a question concerning Capital Gains from a gentlemen selling a home in Florida. See below for the Q&A:

Hi ! I hope all is good with you. If you don't mind a question regarding the sale of a house.It belongs to my parents,they live in Florida,2 family,I live on 1st floor have power of attorney and selling by owner.Is it true they do not have to pay capital gains if sold under 500k ?

Thanks,
Orlando


Hi Orlando,
Although I am not an expert in this field, I believe when you sell your primary residence, you can make up to $250,000 in profit if you're a single owner, twice that if you're married.This is not determined by what the house is sold for, but rather what the profit is. How much profit would they gain? Do they own the house outright?

I would advise seeking a real estate attorney to confirm.

I hope I have helped in understanding capital gain tax.

Buying/Selling Property the Easy Way

The Internet has become a very popular tool for home sellers and buyers. This is especially useful if you are considering relocating to another state or interested in investment properties.

A new concept has emerged by way of The Holm Group in Arizona. Aside from the FREE Arizona MLS searches, FREE Custom MLS Searches, this web site offers the unique benefit of providing detailed information regarding featured communities. One such community offers mccormick ranch homes , which is located in central Scottsdale and is a complete community of schools, hospitals, shopping, and restaurants.

The Holm Group will answer all your questions with regard to financing, resources available, schools, manufacturing, garden offices, banks, shopping centers, auto centers, medical offices, fishing, sailing and grocery stores. You will also find information on golf courses, golf course properties and maps necessary to navigate the community and surrounding area.

If you are selling a property in this area, you should know The Holm Group website ranks in the top in Google and Yahoo and MSN search engines, so you will receive much needed traffic to get your listed property noticed by interested buyers.

The Holm Group are experienced, reputable and professional and will help lesson the stress whether you are buying or selling property.

House Hunting Pro or Real Estate Bait?

Are you ready to make the biggest purchase and investment of your life? I am talking about buying your first home. The Real Estate market can be confusing and you may feel overwhelmed. My advice is to learn as much as you can from as many people, articles etc. as you can. The more knowledge you have, the better your experience will be.

Are you a house hunting pro or real estate bait?

Take this fun and easy quiz brought to you by Fine Living

Go to quiz here

Tips if Your Mortgage is Resetting ~ If You Are Refinancing or Just Trying to Get a Loan

Owner Financing: Selling a Home Without a Down Payment

I have been asked many questions with regard to selling a home and offering Owner Financing. As previously indicated, I will answer the questions I receive in posts as a way to help other home owners.

Answering John's Question:

Selling a home without a Down Payment

John asks...."I am selling my home and offering Owner Financing, but having trouble finding a good candidate with a good down payment. Should I take a chance and allow a buyer to put no money down?"

My advice to John is that it is never a good idea to sell a home without a down payment. You want the buyer to invest some of their own money into the home. If they have their own money involved they are more likely to take care of the home, keep up with maintenance, pay the bills associated with home ownership.You want the potential buyer to show some commitment to the home.

How many times have you come across a rental property only to see it run down? That renter had no equity in the home, they weren't loosing any of their own money, therefore might not care about the property. What are they loosing? They can walk away and find another place to live....

If you intend on selling this mortgage note down the road, you want the buyer to have some equity in the home from the start. The more equity your buyer has, a contract buyer is more likely to purchase the note.

Example:
A home is selling for $100,000 and the potential buyer can put down $20,000. This buyer is already starting with a 20% equity position. A contract buyer likes to see that.

You might also suggest that a potential buyer secure a personal loan for the down payment. Do they have a credit union or can they borrow against their 401 ? In some cases, you can receive a hardship withdrawal for the down payment towards home purchase and not have to pay the sum withdrawn back. Maybe they can be approved for a lesser amount from the bank or receive a loan from a relative. They then give you the money for the down payment. This option gives you the cash down payment, the buyer has the commitment to the home and a contract buyer will see equity.

Before making any final decisions, please make sure you have a good real estate lawyer to help you. Protect yourself.

ARM's To Reset

According to CNNMoney, soon more than two million adjustable rate mortgages (ARMs) are going to reset at much higher rates in coming months, worsening an already suffering housing market.

Borrowers who took out hybrid ARMs in 2004 and 2005 to secure low "teaser" rates for the first two or three years of the loan may see their monthly mortgage payments climb by 35 percent or more.

In October alone more than $50 billion in ARMs will reset," according to Mark Zandi, chief economist and co-founder of Moody's Economy.com. That's a record, according to Zandi.

A buyer in 2005 with poor credit and limited means might have signed on for a $200,000 2/28 hybrid ARM, locking in a fixed rate of 4 percent for two years. After paying $955 a month, his bill would now be set to spike to $1,331, a 39 percent increase.

The tightening mortgage-loan standards could also result in short-term foreclosure spikes. Home owners with resetting ARMs, for example, may not qualify for refinancing under the stricter oversight. That could lock borrowers into unaffordable loans and they could lose their homes.

The effect of a foreclosure rise and home price slide on the nation's economy may be hard to predict but it will have an impact.

Source: CNNMoney

Homeowners: Now Is The Time To Shop For The Best Deals

If you're like me when it comes to shopping, you look for the best deals and the sale items.
Even though we're only in the month of July, this is the end of the season. It is the perfect time to purchase items for your home much cheaper than a few months ago.

One of my favorite stores believe or not is Home Depot.
I'm in that store so much, the employees know me and ask what project I am working on. It's a one stop place where I can purchase all my home and garden needs. I also attend The Home Depot free How-To Clinics.

If you're looking to add 'curb appeal' or accessories that can be used for 'home staging' or add value to your home, Now's the time to start thinking about purchasing those items. A bench for the garden, a new deck,a fountain which will provide soothing sound of water or even a pond...how about bulbs for fall planting or creating a path with stepping stones that will lead potential buyers right to your front door? Create a warm atmosphere in your rooms with paint, update your kitchen, remodel your bathroom...the list is endless and doing these things will certainly sell your home.

Useful Tip:
Did you know that red is the first color your eye sees in the spectrum? To draw attention to one of your home's best features; place a red accessory (like a flower, bowl, or book) near it. On the other hand, to minimize a problem, put the red accessory elsewhere in the room, so your buyer's eyes will move towards the red color, not the flaw.

I found that some stores offer different products on their web site than sold in store. The sales price might even be better shopping online.

To help you further get the best deal, visit Coupon Chief. Coupon Chief provides a one stop coupon deal and discount resource for Web site visitors. You will get up to date coupon codes and promotional deals and discounts. Free Coupons, Online Coupons and Coupon Codes.

Online shopping coupons are typically redeemed by typing in the corresponding Coupon Code at checkout time.The fastest and most convenient way to shop 24/7 and get the best deal. Why not? Who doesn't love saving money?

With over 1000 stores to choose from at Coupon Chief, I'm sure you'll find a deal at your favorite store. Mine just happens to be Home Depot.

I have literally saved hundreds not only shopping online, but with the use of online shopping coupons

Below is a "how to" screencast from Home Depot, so shopping at Coupon Chief will be easier.

Help Wanted

This is not spam. I have recently expanded my business to include Homes Loans: Purchase, Refinance, Home Equity, Debt Consolidation. I am looking for additional quality people to further expand with me...go nationwide. I am taking this opportunity to network with my fellow bloggers and readers to extend this invitation.

This is REAL, PROVEN and FINANCIALLY BENEFICIAL

Do you Dream of Building Your Own Business?

You journey through life working way too many hours for too little pay.

THERE IS A BETTER WAY !

The only way you can achieve financial freedom and control your own destiny is to have a successful business of your own.

I have recently expanded my business and I now want to expand further.

I am offering a risk-free opportunity to join me.
* No major investment
* No franchise fees
* No loss of job security
* No experience required
* No inventory
* Unlimited Territory
* Unlimited Opportunity

The ever growing Real Estate Market. Did you know that 78 BILLION dollars were made in real estate commissions?

We want to create more financially independent families than any other business. We are commited to helping people make their dreams come true. Whether it's controlling their debt, buying their dream home or building tremendous wealth.

Our system gives our leaders a proven, predictable turnkey plan for building and running a successful mortgage business. You run the system and that system runs and helps build your business.

FREE In house training and support system.

We have alliances with the most respected companies and provide the lastest technology to help build and run your business.

Create a business within a business.

REAL ESTATE PROFESSIONALS:
Here's your chance to DOUBLE, TRIPLE your income potential !
Clients already have listed with you. You are showing homes to potential buyers. Mortgage Loans are needed. You can help both the buyer and seller.

For the right person, this is a once in a lifetime opportunity.
* 100% compensation plan
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CONTACT ME: andrea@acassociatesusa.com for additional details.

Business Opportunity

Purchase, Refinance, Home Equity, Dedt Consolidation Loans

Answering Anne's Question

ASK AC ASSOCIATES received a question regarding Home Appraisals...

Anne asks.... "I'm putting my house up for sale soon, should I have a Home Appraisal ?"

There are many reasons for having a home appraisal. A new mortgage, a second or home equity loan, estate sale, divorce settlement, insurance claim or when selling your home.

Each requires an appraisal from an appraiser. An appraiser will make note of any improvements, repairs needed or any defects, may take photos of homes that sold in your area, contact real estate agents in your area that sold homes to get additional information regarding those sales. After all the information is collected, you will receive a written report with the opinion of today's market value of your property. When selling your home, you want a realistic view of your home's value. If your expectations are set unrealistically, this can ultimately cause disappointment down the road.

The home appraisal provides information for both the seller and buyer and if you are not offering owner financing, the lender.The lender does not want (owning) property that is overpriced. The lender will approve a loan after an appraisal is completed.

You can see additional information on my prior post: Tips for Pricing your home

Read the Myths & Facts on Home Appraisals: Owners.com

Thank you Anne. I hope I have answered your question. Should you have any other questions , please do not hesitate to ASK AC ASSOCIATES

Ask AC Associates

I have already implemented an "Ask AC Associates" page on my Business web site. The response has been fair, so I wanted to include this question page here as well.

In my efforts to help more home sellers and/or buyers, I would like to determine some of the challenges, the questions, the fears people may have regarding selling or buying their home.

I can then tailor my services and the information I provide to better meet their needs.
This will aid in my belief to provide superior customer service.

I need your input in order to help you and others...

Here's your chance to ask your most burning question and receive an answer.

What is the most important question you have about selling or buying a home?

Simply click here to be forwarded to my ASK AC ASSOCIATES Question Page. Your identity will not be disclosed.

I will answer all questions received as a post in this blog.

Thanking you in advance.

7 Secrets for First-Time Homebuyers

1.) Visit a certified housing counselor at a nonprofit organization.
Housing counselors credentialed through a nonprofit agency provide objective advice and unbiased recommendations.

2.) Get your finances in order.
Find out what your credit report and credit score are and correct any inaccuracies. Lenders look at factors called the four Cs of credit: credit history (timely bill paying), capital (money available for a down payment), capacity (income versus debt), and collateral (the value and condition of the house).

3.) Look for down-payment and closing-cost assistance programs. Some nonprofit organizations and state or local government agencies can help you with down payment and closing costs through grant money or low-interest loans.

4.) Make sure homeownership fits with your lifestyle.
If you will be in a particular community for less than three years, if the local economy is not doing well, if unemployment is rising, or if your future income will not provide you with enough for mortgage payments and other financial responsibilities in owning a home, then renting may provide the better option.
Shop around for everything related to your home purchase.

5.) Follow the “rule of threes” by comparing at least three products, professionals or services before making your final selections.

6.) Get pre-approved for financing before shopping for a home.
Pre-approval is different from pre-qualification, which refers to when a lender calculates how much mortgage you likely can afford based on unverified information. A preapproval is a guarantee that the lender will loan you a fixed amount of money, as long as the property appraises over the amount for which you are qualified and you buy within a certain time period.

7.) Carefully select a location.
Research area schools, property tax rates, insurance rates, and crime statistics. Spend time thinking about things that may be important.

You can use this calculator to determine how much you can afford to spend on a home. However, many additional factors play a part in the loan qualification process.
www.ginniemae.gov

Programs sponsored by your state or local government or other organizations. Just pick your state to search for programs
www.hud.gov

Source: Neighborworks

Technology Impacts Real Estate and the Workplace

The changing nature of how and where people work is transforming corporate real estate. Nearly 40% of employers expect their knowledge workers - those who contribute intellectually to a business, rather than manually - to work remotely by 2010.

Advancing technologies that allow workers to accomplish tasks from anywhere has spurred major employers to rethink the real estate paradigm. Many companies feel that a majority of their infrastructure that supports mobility.

As an example, Sun Microsystems, needed a solution to a slowing work product problem as a result of heavy traffic tie-ups in the San Francisco Bay Area. This was remedied by creating a network of small "drop-in centers" enabling employees to work from various accessible locations.

Employees simply log in at remote work kiosks. Incoming phone calls are routed from a main call center to their temporary workstation.

This new multi-office system has eliminated 7,000 workstations. One employee station now serves 1.5 employees. This has resulted in a reduction of about 1 million, saving $71 million in excess real estate costs in the last year.

(Source: National Real Estate Investor)

Refinancing Do's and Don'ts

How many of you receive those "special offers" in the mail...the ones suggesting you've been pre-approved for a mortgage loan, refinance or streamline? I receive at least 5 each week.

Remember my prior post on "pre-approval and "pre-qualified"?
Review that post to know there are differences between those two terms.

When you are wondering how you are going to pay your mortgage and other bills, it may appear very attractive to borrow against your house. But consider this: if you cannot make your current payments, increasing your debt, even if you get some temporary cash, will make it harder to keep your home.

Refinancing your home may be one of the most important and complex financial decisions you'll ever make.
Below is the top ten list of advice to consider before you sign that loan document.

Use your home's equity carefully. Remember, building equity in your home is a key way to build wealth and financial stability. It builds slowly over time. Homeowners may be able to get some cash by repeatedly refinancing their homes but they will lose equity in their homes. A loss of equity also occurs each time homeowners finance new points and fees.

Never borrow more than you really need. When refinancing, borrow only for items that are needed to protect the home’s equity, such as a lower interest rate, home improvement or other asset building expenditures. Don’t throw away your long term financial security on short term indulgences like vacations or other temporary luxuries.

Think twice before using up equity on unsecured credit. Many solicitations lure borrowers with ideas that they can wipe out their credit card debt with a home equity loan or refinancing their current mortgage. Those debts are unsecured but your home loan isn’t – defaulting on that payment could lose you your house, not just affect your credit rating.

Shop around. Borrowers should talk to several lenders to find the best loan for which they qualify. Understand the best loan terms available in the marketplace and compare the APR (annual percentage rate) of loans from different lenders. The APR takes into account both the interest rate and the points and fees of the loan.

Say NO to "easy money." Borrowers should beware if someone claims "their credit problems won't affect the interest rate." If it sounds too good to be true, it probably is. If a solicitation is really interesting, get it in writing!

Understand the loan terms. Borrowers should compare loan terms from different lenders. Ask for written estimates that include all points and fees.

Find out about prepayment penalties. Borrowers should know if the loan offered to them has a prepayment penalty. Prepayment penalty should be a choice, not a requirement.

Make sure all the loan documents are complete. A borrower should not sign documents that have incorrect dates or blank fields. Be wary of promises that a lender will "fix it later" or "fill it in later."

Ask about additional fees. Borrowers should question any items they didn't ask for. Borrowers should also beware if they are told that single premium credit insurance is required to get a loan, or that purchasing it will help loan approval. Review every fee and compare different lenders' fees to ensure the most competitive loan terms.

If not sure, don't sign. Seek advice from a trusted financial adviser or local NeighborWorks or other homeownership counseling organization.

Source: Neighborworks

Understanding Contract Terms

Let me describe the three basic contracts used to secure payment of money owed on a home.

Trust Deed:
A trust deed means just what it says. The deed to the house is held in trust until the balance is paid off. In addition to the trust deed, a promissory note is signed by the person making payments. The note states all terms required of the buyer in paying off the remaining balance. The note is secured by the trust deed. The trust deed document is secured by your home.

A trust deed document involves three people:
1) The Grantor: the grantor is the home buyer. They make you the monthly payments.
2) The Trustee: The trustee holds deed to the house until the balance is paid. If the trust deed goes into default, the trustee is responsible for foreclosing on the house. The trustee would normally be your attorney.
3) The third person on a trust deed is you.

You're referred to as the beneficiary. The beneficiary is the owner of the trust deed & note. They have all rights to the money owed secured by the documents.

Mortgage:
A mortgage does the same thing as a trust deed. However, there is no trustee involved. Again, a promissory note is signed stating how the debt on the mortgage will be paid. A mortgage document involves two people:

1) The Mortgagor: this is the person the home was sold to. They will make the specified payments.
2) The Mortgagee: this is the home seller. They own the mortgage and note, and have all rights to the money owed.

Land Sale Contract:
Land sale contracts can go by many titles in different states; real estate contract, property sale agreement, purchase contract or contract for deed. They all mean the same thing. No promissory note is used. All the terms on how the debt is to be paid are in the contract. Title to the house is held by the seller when using these contracts. When the debt is paid off the seller transfers title to the buyer. The buyer only gets title when you use a trust deed or mortgage.

Some home sellers prefer land sale contracts because they can hold title. If they ever had to foreclose the process is easier. Seek the advice of your attorney on this.

FREE OFFER by AC Associates

When I was interviewed by Hali (see prior post-), I mentioned a free offer by my company would be upcoming. I don't want this sounding like just a sales pitch.


I am proud to offer my 54 guide booklet for free to any home owner wishing to learn an alternate way of selling their property and realize they can receive all cash..This sales method is legal, safe and proven.

Actually, anyone in the real estate business would benefit from using this method of sales, as would developers and/or contractors.

Why am I offering this for free ?

I want to help educate those who show an interest and provide a win-win situation. I want to spread the word that there are other alternatives when selling property.
I strongly believe in helping others.

There is no cost or obligation and I will even pay for shipping.

This sales method gets overlooked far too often simply because many are either not aware they have this option to sell their property or they are so used to the standard, familiar way of selling property. I find that people are afraid to learn something new. Open your minds, knowledge is a wonderful thing! And, how good it feels to accomplish this on your own.

I am in a position to help anyone who wishes to receive all cash by offering owner financing and selling your contract immediately. If you are in a financial position where you don't need all cash, a contract can be a great investment. You can defer paying taxes on the gain, plus you'll get a better interest rate than banks pay. You get a nice income secured by your home. If you need to raise cash in the future, you simply can sell a portion of the contract or sell in it's entirely.

There are so many ways people can benefit from owner financing:
1) Home sellers can sell a house quickly on their own without giving commission to realtors.
2) Real estate agents can sell listings faster.
3) Home buyers benefit by getting terms that are favorable. No bank red tape hassles, no points or origination fees.
4) When Dissolving partnerships, whether in marriage or business, a contract can be easily sold and the proceeds divided.
5) Contractors and/or Developers can (and do) use this method to sell property and receive all cash when selling the new note
6) More individuals are able to purchase homes

The bottom line is owner financing solves many problems and everyone involved is in a win-win situation.

You may be thinking "this sounds too good to be true" and I know the saying goes...it usually is, but not this time. This is a solid offer to receive this guide booklet( with sample forms and checklists) for FREE. It explains this sales method in simple, easy to understand language. I provide all the support necessary to be successful.

Just contact me and request your guide booklet.
andrea@acassociatesusa.com
http://www.acassociatesusa.com

Here’s What One Happy Home Owner Has Said AfterUsing This Program:

“I sold my rental home to the first couple who looked at it. I had it up for sale for only 10 days and I received over 100 calls in the 1st week from following the methods of advertising. I had been so busywith work that I didn’t have the time to show it, or call people back for the 1st ten days. It cost me $50 in all for advertising. My rental unit had been rented out for 3 years with no repair during that time. As a result, it needed $10,000 in repairs. I didn’t even have to repair anything. Your methods found me a buyer that paid me $2000 over the appraised value price.” John Alexander San Antonio, TX

Managing Your Money for Homeownership

For many people, home is more than shelter: it is their biggest investment and a considerable financial asset. The difference between what your house is worth and the amount you owe is called your equity.

The first and most important way to protect your investment is to make sure you have enough money budgeted each month to make the PITI (principal, interest, taxes and insurance) payments on your mortgage loan and set money aside for home maintenance. You made a family spending plan when you were saving for a home. Now it is time to make a new spending plan to include all the expenses of homeownership.


To make a spending plan, meet with your family to budget your normal expenses, plus the new costs of homeownership, including:

Mortgage Payments: monthly principal, interest, taxes and homeowners insurance payments, as well as homeowners association fees and mortgage insurance if required.
Utilities: average monthly costs for electricity, gas, water and sewage, and trash collection
Routine Maintenance and Repairs: monthly savings for preventive maintenance and repairs (1 percent of the purchase price of the house for annual maintenance and repairs divided by 12 months)
Reserves: monthly savings for emergencies and/or goals (at least one month’s mortgage payment divided by 12 months)
*Note: Consider signing up for a “budget” or “average payment” plan with your gas and electric companies. Based on the history of gas and electric use in your home, the company will estimate the annual cost and divide it by 12 months. Once a year, the company will adjust the monthly payment up or down to reflect actual use. Then you pay the new amount for another year.

Paying a set amount each month for some of your utilities helps with budgeting since it spreads the high cost of winter heating or summer air conditioning throughout the year.

Developing a Savings Plan
Put money in savings on a regular basis. Ideally, you want enough savings to cover emergencies, routine maintenance and repairs, and your goals. Financial experts recommend building an annual emergency fund that is equal to one percent of your home’s purchase price. The amount of money you need to set aside to reach your goals depends on what your goals are and when you want to reach them.

Remember the Credit Trap
New homebuyers should not take on any new debt for car loans, credit cards or revolving credit for at least one year after closing. It will take that long to get used to making the new mortgage payments and to really understand how much it costs to take care of your home.