Recently on Foreclosure

Interview with Tito Jackson, Boston City Councilor at Large Candidate

By Tito Jackson on July 29, 2009 7:12 AM | No Comments | No TrackBacks
Tito Jackson Long time ForeclosuresMass Member and Boston local Tito Jackson is running for Boston City Councilor-at-Large and we wanted to learn more about what he's campaigning for, what's happening with the real estate market in Boston, what he plans to do about it and how this all affects real estate investors.

We caught up with Tito Jackson on the way out of the State House and asked him these questions and more.

ForeclosuresMass Monthly: How did you find yourself running for Boston City Councilor-at-Large?

Tito Jackson: I've been a life long resident of Boston and was born and raised in Dorchester, MA. I've always wanted to do more for the city. Recently, I worked in Governor Deval Patrick administration in the economic development department. I wanted to drill down deeper and help the city I grew up in to be better a place.

FMM: What are the major issues that you're campaigning for?
Continue reading Interview with Tito Jackson, Boston City Councilor at Large Candidate.

Persistence and Why We Keep Getting Up - Even When Knocked Down

By Jeremy Shapiro on May 14, 2009 7:11 AM | 1 Comment | No TrackBacks
Jeremy Shapiro "The most essential factor is persistence - the determination never to allow your energy or enthusiasm to be dampened by the discouragement that must inevitably come." ~ James Whitcomb Riley

This quote rang true to me Wednesday morning when trying out something I'd never done before - slacklining.

As I fell again and again - and again - from the slackline outside behind my rock climbing gym, I noticed that I kept laughing, smiling and getting right back on again. Even though the tight, static webbing beneath my feet went even tauter as I weighted it, and even though a misstep in balance was punished by the unforgiving force of the line rocketing me to one side, I kept getting back on.

It's like how in real estate investing you make an offer, and it might get rejected. You might make 10 offers and have them all get rejected. You might make an offer, get it accepted, and then watch the deal fall apart.

But should that stop you?
Continue reading Persistence and Why We Keep Getting Up - Even When Knocked Down.

Massachusetts Foreclosure Data: Where Can I Find It?

By Jeremy Shapiro on May 13, 2009 7:13 AM | 1 Comment | No TrackBacks
Jeremy Shapiro At a recent Turning the Key meeting, Sheila was approached not once, or twice, but four times by four different people asking where they could find quality pre-foreclosure leads.

I, too, found myself chatting on Facebook with someone the other day who was familiar with our events, and ForeclosuresMass as a company, but was also asked where they could find foreclosure data.

Both Sheila and I were shocked that ForeclosuresMass.com, the company we started in 2003 to help investors find out about foreclosures before they start, had grown so much to the point that investors knew about our events, but had no idea that at our core, we were the company behind the most accurate and up to date foreclosure data in Massachusetts, routinely cited and interviewed by the Boston Business Journal, Boston Globe, Worcester Business Journal, New England Cable News, WBIX, National Public Radio, PBS, and more.
Continue reading Massachusetts Foreclosure Data: Where Can I Find It?.

Squatters in Foreclosures, Properties Damaged and Unemployment Up

By Jeremy Shapiro on April 21, 2009 7:28 AM | No Comments | No TrackBacks
Jeremy Shapiro Homeless families are being relocated by agencies - some secretly, some openly - into vacant foreclosed properties, according to an article in the New York Times last week.

One reader commented that this is like driving cars off a dealership's sales lot because nobody has bought them yet, and they're not being used, so "why not?"

These illegal squatters are contributing to CNN's report that "About a third of all of the foreclosed properties nationwide have been so damaged, either by the previous owners or by criminal gangs coming in after the foreclosure, that they no longer qualify for standard mortgage financing..."
Continue reading Squatters in Foreclosures, Properties Damaged and Unemployment Up.

Pulling The Trigger: Do You Have What it Takes?

By Kevin Norton on April 15, 2009 7:12 AM | No Comments | No TrackBacks
Kevin Norton Getting involved in the foreclosure market can reap great rewards, as long as you take the time you need for study, research and observation. The more you know in any business - especially foreclosures - the more success you'll enjoy.

Getting Started - Agility is Key

I first got involved in real estate in 1986 as an agent. During my first year in the industry, I noticed many investors buying multi-family properties. I wanted "in" - I didn't want to be a tenant paying a landlord's mortgage anymore.

The following year, I bought my first property - a two-bedroom condo with a minimal down payment. As seasoned investors know, the real estate market took a dive after the late 80s, when properties were highly leveraged and prices were grossly inflated. Foreclosure rates were at an all-time high, with many investors and banks failing in the process. 
Continue reading Pulling The Trigger: Do You Have What it Takes?.

How to Write Sales Letters that Get You Deals

By Kay Steele Faulk on March 18, 2009 7:14 AM | 1 Comment | No TrackBacks
Kay Steele Faulk There's nothing better than a direct mail campaign for getting a steady flow of motivated sellers calling you to buy their homes or other property. Sales letters come in a variety of copywriting formulas, all designed to boost response rates by presenting sales arguments in the best order.

The oldest of these is known by the acronym AIDA, which stands for attention, interest, desire, action. And although other formulas have been developed, most are based on the original AIDA, whose components are essential to any successful persuasion attempt. Here's how it works:
Continue reading How to Write Sales Letters that Get You Deals.

Learn What Works in Today's Market - Three Questions For You

By Marko Rubel on February 10, 2009 7:39 AM | No Comments | No TrackBacks
Marko Rubel Do you know what Warren Buffet had to say about "investing" during these uncertain times, in today's economy?  Here it is...

"If you follow the news, when something goes down 50% in price, it's considered riskier. Personally, I'd say it's considered safer - you're paying HALF!"
So, the comment you'll get from seasoned Real Estate investors...

"The Foreclosure loom creates an Investing Boom!"
But that is only true if you know what you're doing!
 
This is a great time to make money in Real Estate... but here's another Warren Buffet's comment:
Continue reading Learn What Works in Today's Market - Three Questions For You.

Using Hard Money to Purchase Foreclosed Properties

By Dan Burke on January 21, 2009 8:27 AM | 1 Comment | 1 TrackBack
Dan Burke Do you have a question about financing real estate transactions? Now you can get them answered by Dan Burke, financial expert for Capital Trust. This month, Joe, a plumber, asks about the advantages of using hard money to purchase foreclosed properties.

Dear Dan,

I am a plumber who has done many jobs on real estate investments for other people. I've pretty much made other people money and now want to get involved myself. I'm interested in investing in the foreclosures market but am wary about hard money and the points associated with using such a lender. What are the advantages of using hard money in my situation and do they justify the cost? 

- Joe the Plumber
Joe,

Congrats on taking this step as it's a great time to invest in the real estate market. The question you pose is very common in that many people are unfamiliar with this lending resource and often perceive hard money as a last resort option.

Continue reading Using Hard Money to Purchase Foreclosed Properties.

Nothing Succeeds Like Success: David O'Shea Gives His Advice for Surviving the Current Market

By David O'Shea on January 14, 2009 8:43 AM | No Comments | No TrackBacks
David O'Shea A licensed commercial real estate broker for over 20 years, David O'Shea assists investors purchasing short sales and REO investment properties by helping them run their numbers and prepare loan request packages. He also puts together major real estate deals for commercial enterprises.

It wasn't until the market began slipping a few years ago that he considered investing in it himself. Since then, he's done four deals: a single family, two two-families, and one three-family.

David gives his hard-earned advice about investing - and surviving - in today's market.

ForeclosuresMass Monthly: David, at the last Turning the Key meeting, you mentioned that you hit a glitch with the three-family you recently rehabbed. Can you tell us what happened with that deal - and how you resolved the problem?
Continue reading Nothing Succeeds Like Success: David O'Shea Gives His Advice for Surviving the Current Market.

Interview with the Expert: Helping Families Get Back on Track Financially after Foreclosure

By Jennifer Matthews on December 17, 2008 12:42 AM | 1 Comment | No TrackBacks
Jennifer Matthews Worried about families being left to "fester" emotionally and financially after going through their foreclosure, Jennifer Matthews launched a new division within her company in order to provide help families begin the post-foreclosure financial and emotional healing processes. A frequent corporate and community speaker, Matthews is a regular guest expert on WUSA TV9's Mind Over Money consumer television show in Washington DC and was one of only 100 people invited to participate in the White House Office of Faith-Based and Community Initiatives Compass in Action Roundtable on Financial Literacy.

According to Matthews, it's imperative that those impacted by foreclosure get serious help in the forms of financial and emotional counseling, money management strategies and credit restoration so that they can reestablish themselves as homeowners or be in the position to enjoy other financial options that may become available to them. We recently caught up with her and gained valuable information real estate investors can use when working with former homeowners trying to regain their financial footing.

ForeclosuresMass Monthly: Jennifer, what do you see is the biggest problem facing people who have gone through foreclosure?

Continue reading Interview with the Expert: Helping Families Get Back on Track Financially after Foreclosure.

Three Steps to Rebuilding Your Credit after Foreclosure

By Stephen Elias on December 10, 2008 12:09 PM | No Comments | No TrackBacks
Stephen Elias Back in the day, if someone had gone through bankruptcy or foreclosure, rebuilding a credit history was a relatively straightforward process. One of the first steps included obtaining a secured or unsecured credit card and making on-time payments each month for a year or two. Over time the person's credit rating improved, which would then allow him or her to obtain a sub-prime mortgage.

Those days are long gone. Now when clients call asking how soon they can obtain credit after a foreclosure, I find myself saying, "I don't know." Because the sub-prime lending market has dried up and because banks are now scrutinizing consumers more closely than ever, it's become very apparent that rebuilding one's credit in any meaningful way is going to be a three to five year process, if not longer.

And, instead of simply rebuilding credit worthiness via carefully handling new credit opportunities, consumers need to rethink how they should handle their finances. What follows are the three pieces of advice for people people who have been through foreclosure and want to rebuild their credit -- and their finances.

Continue reading Three Steps to Rebuilding Your Credit after Foreclosure.

Success Strategies: Finding a Reputable Credit Counseling Company

By Robert Giuliana on December 3, 2008 12:35 PM | No Comments | No TrackBacks
Robert Giuliana Consumers who have gone through foreclosure need real financial help - primarily in learning how to repair their damaged credit and how to better manage their finances in the future. Based on the feedback I've received from consumers after they've read my book, Save that Mortgage!, consumers do not know how to help themselves when it comes to personal finance.

The one question I've heard repeatedly is, "How do we find a reputable company to help us repair our credit?" For you real estate investors who wish to help people either facing foreclosure or who have gone through foreclosure, the following resources will provide you and your potential buyers with plenty of free information on finding reputable credit counseling agencies.

Continue reading Success Strategies: Finding a Reputable Credit Counseling Company.
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