All Forum Posts by: Edwin De leon

I am a little confused about what you mean by not entering the program, what do you mean about the investors and negotiators not entering the program ?

So are the investors just saying to not enter the program the HAFA program to do short sales and saying to invest in short sales just as aggressivesly as planned but do it another way... ?

If what investors are saying to still go after short sales as of april 2010 , then how should it be handled , so then in what way should investors should use transactional funding to invest in shorts sales as of this coming april 2010 sounds like the opportunity has been taken away or limited from investors !!!

thanks ted....

Could the investors be suggesting to just go after reos instead of short sales...need clarity to know how to invest in short sales and use transactional funding

There must be a way to benefit from this as an investor ...so has the opportunity been pulled like a carpet from under out feet or is there still an opportunity to invest in short sales if so........THEN HOW DO WE DO IT ?

1) as of this april 5th 2010 what changes must real estate investors make now in how they go after short sales

2) what are the best strategies in how to invest in short sales now

What are the various ways the new obama hafa and hamp program affect short sale investors in how they buy, invest and flip properties

Now with the new laws going into effect as of april 5th that real estate agents must handle all short sales, but under what conditions, this is not clear to me.

Questions:

1) can investors under the new HAFA and HAMP rules under certain conditions still submit short sale packages to the banks directly or they cannot any longer submit packages themselves for properties they wish to buy and flip under any conditions period.....

2) if this right has been taken away from real estate investors to submit short sale package direct to banks, then what is the best way to accomplish this now for investors who wish to focus on short sales investments

I would start by calling your local state banking dept. in your areas that issue licenses for mortgage brokers, lenders, etcc when ask them whom else should you check with to make sure the feds won't be breathing down your back as well, if you are ok and do not need one with the state.

Has anyone read up on how the new TILA ruling affects hard money lenders>

And is there any other new laws governing money lenders to the real estate market due to the fraud committed in conventional mortgages that apply to hard money lenders as well now and not before...please explain.

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There is a friend who will buy the property at a discount, and will resell property back only if they are able to take it back later on once they are more stable or else the friends will keep house and resell it for profit.

These are not some investors that are not know but friends dating back many years and trust there.

So there is not fraud here, correction, but thanks for input!

The only ones to look out for those fast talking vultures who want the property at all cost regardless.

Scenario:

1 family home in pre-foreclosure in florida behind 4 months!

Questions:

1) What could be done to slow down the foreclosure process in florida egally and give him time to catch up maybe

2) What new programs are being offered by the government for people like him that are in pre-forclosure

3) Someone has offered to do a short sale that he could stay in the house and find someone to buy the house at a lower cost that he trusts and then have title transfered back to him later on...pros and cons of this type of arrangement and what questions should he be asking the person who want to do the short sale.

4) Can he refinance the property if he is pre-foreclosure 3 going on 4 months behind bought house for $170k owes $146 mortgage $1500 monthly, if so what could be done and how

5) Has someone willing to help out he knows personally that he could sell the house too who is close friend of the family and the person is willing to to put house in their name and then later sell and transfer to title back to him.

6) How does florida operate with pre-foreclosure properties how long do they give homeowners to solve behind payments or rather before the bank comes in and puts padlock on door of home.

What are the pros and cons here. What questions and precautions should he take here not to get hurt in the future if everything will be in their friends name.

Will look up landlords associations and reias in the area...

Thanks...