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Hello and Welcome!
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Summer is here, but that doesn't mean it's time to take your foot off the gas!
Foreclosures continue to track at an all time high, and as a result, new
opportunities for attentive investors emerge literally ever day.
Part of the equation of course, is credit - a critical piece of the investment
puzzle. This month, we take a look at how credit and credit scores work, and as
importantly, what you need to know to ensure that the system works in your favor.
We kick things off with an informative article from regular monthly contributor
Debbie Siegel, a street-savvy mortgage broker and president of Newton, MA
Westchester Mortgage. In, "4 Things You Probably Don't Know About Credit," Debbie
takes us behind-the-scenes, for a view at what really goes into the decisions to
grant credit to real estate investors.
Next, we bring you a topic that's on everyone's mind during the summer... rental
properties. As Joan Talmadge, co-owner of the website
WeNeedaVacation.com
explains, renting a property is a first-rate way to build equity and generate
positive cash flow, provided you understand (and apply) some basic concepts. If
you're thinking about taking this approach, her article, "Buying and Renting a
Vacation Home... Tips for Making it Work," is a must read.
For our Interview with The Expert segment,
we return to the topic of credit, and
bring you a discussion with credit expert, Marty Eerhart, Senior Loan officer with
Assured Mortgage. Specifically, Marty offers insights regarding credit problems,
and what can be done to fix them. Whether this applies to you or not, you'll no
doubt learn some things you didn't know about how the credit bureaus view your
past history.
* Next 37 17 investors only!
Finally, Debbie Siegel joins us again with her regular feature, the Mortgage
Minute. This month, Debbie explains the concept of Escrow Accounts, shedding
light on what these are and what role they play in the financing of a property.
All the best for a happy, healthy and profitable summer. As always, please contact us to send us your
comments.
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Jeremy B. Shapiro
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Sheila Farragher-Gemma
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Co-Founders, ForeclosuresMass.com
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