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Archive for December, 2011

The Long Mile Of The Mortgage Modification Business

December 31st, 2011 Comments off

Who is there to Help Those Who are Called to Provide Help? I work at a Foreclosure Defense Law Firm which happens to also engage in the practice of Loan Modifications. I am not an lawyer nor am I here to provide or imply legal advice. The Loan Modification & Foreclosure Defense business has gotten a bad rap due to some rotting apples in the bunch but there are some of us who actually care about what we do.

It’s terrible that myself and others are subjected to the very inaccurate and fictitiously skewed perspectives that is constantly broad casted by the media without conscience to the patriotic men and women who give up valuable time with their own families in an effort to restore stability to families. The Broadcasters as a whole has been quick to tell stories that tell of bad lenders and what were once prominent mortgage lenders now well on their way to becoming cell mates at local and federal correction institutions nationwide.

But what about people like myself, people with a sincere, moral, and ethical motivation to assist their fellow Homeowners in saving their American Dream? It is amazing to see how many of us really do have an impeccable work ethic and are passionate about aiding homeowners in distress.

Not only do we deal with the bad Info of the self serving and often relentless broadcasters but many of us are faced with a tragic and sometimes devastating dilemma, the mortal fact that we are exactly that, we are only human. In my personal experience it has become difficult at times to walk away from my job at the end of the day. Every day at the Law Firm it seems there is a more horrible or unjust case than the last, but still they seem to keep coming, almost as if there were no end in sight. For anyone with a heart or anyone who is truly undaunted in their faith, although it can be spiritually and financially rewarding at times, the Foreclosure & Loan Modification business can become truly draining after prolonged exposure. To the credit of those who possess the inner strength and choose to answer the call of servant leadership, I am writing this to acknowledge the truth behind the old saying “Never judge a man until you walk a mile in his shoes.” and to add that “working a day in his suit might not be a bad idea either”.

During the course of our own personal disasters, there is a lot to be said for the idea of taking a marginal step back, and away from the situation or stepping outside one’s self to reflect for a moment that there are many variables in every equation and sometimes all is not what it seems. This is the moral of the story, to better illustrate I will share something with those who took a moment to look a little further into this article. judging my intentions based on my statements is that I and the majority of our clients could actually be considered one and the same if you were to make a generalization or attempt to categorize me.

mortgage What do I mean by that? What I am making an effort to convey is that sometimes it seems like the worst enemy a borrower can have in the courtroom is not the Lender threatening to take back the house and not even the Law Firm representing them. The worst enemy that many Homeowners face while facing a possible or impending Foreclosure is the enemy they find staring back at them in the mirror each day. That enemy is Homeowners themselves, in my experience it seems to be the most common recurrence among cases I have seen during my time working in the Foreclosure Defense industry. Homeowners and in many cases family members alike are so concerned with getting cheated that in reality they wind up cheating themselves. In conclusion I will provide you with the missing material fact which should re-calibrate even the most skeptical perspectives. In approximately 30 days from today I will be going before a judge in an effort to save my own home from a pending foreclosure which I have fought long and hard to overcome. The truth is that was my original reason for getting involved in the industry, I did it to find a solution for the Foreclosure that has been looming like a dark shadow of unknown demise over my own life. You see I too share all the same concerns and all the same fears as so many other American Homeowners do in this country today. You wouldn’t believe how often people misconstrue the sincere empathy and sense of urgency which I often tend to convey. Many misunderstanding what they sense immediately defaulting to the negative which has been cultivated by our society today. This almost automatic defense system has left many Homeowners and their families almost completely defenseless and unable to protect their homes due to their inability or refusal to act. I also have been fighting to save my last and final property that I own and live in. So in final it is with great sincerity that I offer this humble opinion. Never judge a book by it’s cover because it might end up costing you more than you thought it would ever be.

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What’s The Point Of Currency Technical Analysis

December 31st, 2011 Comments off

If trading currency with a minimal time investment and a good financial return is your goal, then read on. This article is the teaching tool to help you understand and employ the theory and analysis of the currency market so you can how to read and build the trading charts with expertise.

The main advantages of using these charts is that it helps someone spot trends and price patterns. If you are paying attention to this and learn to use them correctly, you dont need to follow financial news stories. All you need to do is follow your charts and learn to read them.

Just as humans repeat certain patterns, so, too, do currency charts. Understanding that the chart’s trends will ebb and flow like ours opens your eyes to recognizing trading opportunities with great potential for high return on your investment. Above all, remember, with the currency charts, as with life, you want to follow an effective but simple plan. The fewer complications the more power and prosperity you’ll realize. After all, with fewer pieces, the puzzle is easier to assemble.

What you want your currency charts to do is signal trades for you through basic patterns. All you need to assemble your charts, then, are some indicators, which you select and add. The indicators you use are certainly personal choice, but I can tell you what’s worked for me: Bollinger Brands, the stochastic process and the Relative Strength Index (RSI). Bollinger displays the volatility, while the stochastic process and RSI measure the stability of the trend. The good news is that it takes just a day to study, learn, and incorporate these signals. They are the touchstones to your success as a currency trader.

The short term noise of the market and day trading or scalping strategies are should be absolved while following currency charts. Such attempts may end you up in low odds trades and losses. Alternatively big trends last for weeks or months in any currency charts which shall be traded and big profits made. Huge gains with much leverage on your side can be made with capturing these big trends.

A common error that new traders make is trying to predict whether prices will rise or fall. This is a bad habit because prediction is just another way of saying you hope or guess something may happen. This is not a logical or smart trading practice, so it is not advised.

Use your currency charts to identify bull trends. These begin with currencies “breaking” to new highs and those highs continue with the growth of the trend. This is sound investment and it’s the way traders who’ve made millions work the market. What more could you ask than an in on the “big trends” and a great risk to reward ratio?

Remember this rule: If you want to make money with just a little time investment, about thirty minutes a day, learn to build and read your charts, identify breakout trends and exercise discipline when the crystal ball starts to gleam.

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Do You Need A CPA?

December 30th, 2011 Comments off

Each day, we all pass through life, hearing things that we’re not completely sure of. Honestly, with all of the information that we are expected to retain; it would be easy to see how some details start leaking back out. When you’ve come to this point in your life, you may benefit from hiring a certified public accountant.

While they serve many functions, the primary role of a certified public accountant is to track and control where the money goes. The Internal Revenue Service requires us to account for every single penny we make and those that we give away. It can be a daunting task, following the paper trail.

Certified public accountants have been taking care of financial matters for the small business sector for a very long time. It was the business owners who needed their personal wealth looked after, as well, who really made a difference in the way things are done these days.

As wealth grew over time, personal wealth separate from business owners, the need became apparent for the public sector, not just the private one. The Internal Revenue Service goes after both business and personal individuals, alike.

Certified public accountants review documents for companies and individuals. They look for errors in addition, subtraction and much more. They sift through files and find receipts. They make sure that every cent that has been spent or earned is accounted for.

CPA’s do so many things with your finances; it’s not as broad of a subject as some may think. CPA’s work with tax records, billing, and much more. They will help get your past records taken care of as well as getting all of your current dealings in order.

Your certified public accountant will see to it that you turn in correct documentation in the future to the government and will keep you from any future harm or issues with tax returns, payments and deferrals. If you have any questions regarding tax laws and payments, as well as state and federal mandates, your CPA is well versed in this information and will be a valuable resource to you.

Not only do large corporations need the services of certified public accountants, many people who find themselves in possession of sudden riches also seek their assistance. When you’re accustomed to having very little money and suddenly, money no longer becomes an issue, it is wise to have someone who can not only advise you on financial decisions, but also assist you in keeping track of your wealth.

People who have a lot of money in stocks, bonds and other investments find it very useful to have a certified public accountant in their corner. Keeping an eye on your financial decisions, your accountant can work alongside or completely solo, ensuring that your choices are going to be lucrative.

When you’ve got investments in the market or elsewhere, your CPA will work side by side with your broker and handle all of the important issues. You’ll sleep better knowing that you don’t have anything to hide or anything to fear when it comes to the IRS.

If you need a CPA, check out local accountants online. Find one who has experience working with financial situations that are much like yours. It’s also good to find a CPA who is close in proximity to your home or will be happy to come to you when you need him.

Bulk REO Investing In Today’s Market

December 30th, 2011 Comments off

Bulk REO Investing is proving to be one of the most profitable fields of investment during this year and potentially beyond. Bulk REO Investors profit by buying groups (commonly called portfolios) of properties from lenders who have foreclosed the properties and have urgent desire to reduce pressure on their balance sheets. Due to the urgency of the balance sheet needs of the banking institutions coupled with the investors ability to purchase a package of REO properties rather than singular properties, its quite possible for a well-financed bulk reo investor to acquire REO packages at extremely attractive deals.

Most bulk REO real estate investors make offers to lending institutions on the basis of a percentage of unpaid mortgage balance. This means that if the investors make an offer of 60 cents on the dollar for a package of loans with a remaining balance of $3,000,000 in principal balance, then they pay $1,800,000 to acquire that group of houses.

At the conclusion of the reo portfolio transactions, investors own multiple properties which must then be monetized to bring a return to their portfolio. To do this, they typically resell the properties to retail home buyers via owner financing. By cutting traditional lenders out of their transactions, REO investors are able to sell their properties more quickly and at very appealing terms.

Find out when the banks financial quarter ends. This is where they report their quarterly earnings and financials and when most of upper management get evaluated for bonuses. Just like any business, banks dont want to have these underperforming assets on their books especially when their earnings reports are due.

Analyze the deals, determine what you want to get them for, and put in your second (or third) best offer (never offer your best offer first).

Negotiate until its a win for all: you get to have several properties at lower than market value the bank walks away with those deals off of their books just in time for the quarterly earnings reports to shareholders.

The future seems bright for savvy Bulk REO investors.

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The Three Big Mistakes of Getting a Debt Reduction Loan (and How Not to Make These Mistakes)

December 29th, 2011 Comments off

If you’re in debt up to your eyeballs, you’re probably on the telemarketers’ list. They call, offering to give you a debt reduction loan. At first, this kind of loan sounds like a dream come true. After all, why wouldn’t you want to lump all your smaller debts into one easy-to-pay loan with a low interest rate?

Any wise man will tell you that you can’t get something for nothing. This is absolutely true when it comes to debt consolidation loans. Although they look good, these loans can be full of traps to snare the unsuspecting person, getting you in more trouble than you already were in. Here are the worst of the traps of getting a debt reduction loan:

Trap #1: You’re treating the symptom, not curing the problem.

The worst aspect of debt reduction loans is that they don’t fix the problems that caused you to be in debt. Instead, they treat the “symptom” of having debt. When you get one of these loans, you just end up with a large loan that you have to make payments on…but you will also acquire new debts when you eventually start to, once again, spend more money than you have.

Any statistician can tell you that the likelihood is high that someone who gets a consolidation loan will wind up with the same amount of debt, or more, in two years or less. And remember, they’re still making payments on their new debt consolidation loan.

Trap #2: Making your unsecured debts into secured debts.

If you have credit card debt, you should know that it is what is called “unsecured debt”. This means that the loan is not backed up by a tangible object, such as your home. Most consolidation loans are what is known as “secured debt”, or debt that is backed up by something valuable, most often the house that you live in.

The main problem with this is that when you can’t pay off your loan (and this is not uncommon), the creditor has the ability to foreclose on your home. On the original debt, the only thing the creditor could do was sue you in a court of law. They couldn’t take your home from you.

What you’ve done to yourself by taking out a secured loan (also known as a “home equity loan”) is to make your home vulnerable to foreclosure. Not too smart of you, was it?

Trap #3: Higher interest rates, not lower.

Even if you dodge the bullet of getting a secured loan by getting an unsecured loan, you’re still gonna get smacked with higher interest rates. This is because your inability to pay off your current debts makes you a credit risk, meaning that anyone who is willing to give you credit is going to charge you a higher interest rate to offset the additional risk.

They may change the loan in different ways, including a longer loan term, in order to offer you lower monthly payments than you’re making right now. However, this means that you will still pay more in the long run for your debts. As somebody who is already in debt, you probably can’t afford to do this.

So, how do you avoid these traps?

You can steer clear of all of these traps by deciding to manage your own debt. Unless you’re already filing bankruptcy, you still have the capability of getting out of debt without resorting to the help of some new lender or a so-called credit counselor. You’ll have to make some drastic changes to your lifestyle, but after you change your lifestyle, you’ll be well on your way to changing the behaviors that got you into debt in the first place.

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