All Forum Posts by: Larry Moore

Something just the other day had me thinking about the pride we felt when we were marching in drill practice almost 30 years at OCS back in Quantico, VA, and we were finally a tight unit. There is nothing quite like the sound of heels hitting the deck in unison and bodies moving as if they were part of the same machine. No one said anything, nor did they have to. You could feel the swelling of pride amongst ourselves as we marched with the communal understanding that yes, we were bad *****, we were the best. We were Marines. I don't know if I have ever felt that kind of pride since.

Semper Fi, devil dogs.

I think that all that these recent results have done is to give some of those who were "all aboard" the Obama train, with tickets firmly in hand, pause to reflect and ask the conductor when the next stop is "just in case" they need to get off. At this point the Republicans are just standing by the tracks waiting for the train to derail until they can find an engineer to drive their own train.

Regarding the listing, what I send with the initial package is a letter titled "Letter in Lieu of Listing Agreement" signed by the seller. Basically have the seller(s) detail how they have tried to sell it FSBO and that a realtor will not list it due to the condition (include a few specifics) and owing more than its worth in the current market. They also state that the only offer they have received is mine, so please accept it. Of course I have a letter prepared for their use. So far no problems with not listing on MLS.

Not the buyer's loan, the seller's loan. FHA requires that the property be listed on their short sales (Pre-Foreclosure Sale program). I assumed you didn't have a buyer yet since you stated you were about to start.

Is it an FHA loan? That would explain the 90 days on maket.

My two cents: every product created or manufactured has a creator or manufacturer that wants you to buy new from them, not used from a previous customer. How many people sell their used cars, homes, appliances, etc.? Should authors have more control over their books, dvds or cds than other sellers? If they want to prohibit the resale of their products, then they should require a non-disclosure and no reselling contract with every sale. Then the consumer could decide before purchase if the product with that condition is worth the price. Otherwise, fair game for resale

I interpreted it differently. It looks like they just don't want the short sale to close if there is a second closing already set up or "pending" for an end buyer, using a a back to back, simo or regular closing. In other words, they don't want to let you buy it if you already have it escrowed to sell to someone else. Once you close, you can then find a buyer or do what you will with it, with no time restrictions. My take.

My immediate reaction when I saw the headline was "For What?". Some political pundits see this more as a repudiation of George Bush than an honoring of Obama; some hope that this will give him the impetus to make good on his promises. It would really be pathetic if the measure of this man, for this honor, is how happy the committee is that he is not George Bush.

The Inverse Purchase System isn't much more than getting an option on a move-in condition house and then finding a buyer, generally owner occ. What really made it viable were two things: offering "easy financing" and then having your mortgage broker set up the financing for the buyer (doesn't exist now), and second, using a "special invoice" so that you could get paid on the HUD statement. You generally marketed to buyers with lower credit scores and no or little down payment. If you are in the camp that believes having an option on a property gives you "equitable interest" and the right to market the property, then this system will work for you. But without the easy financing, you would have to option the property at enough of a discount to make a profit and still offer it at a discount to the buyer. Price would have to be the incentive, not financing. A lot tougher to do in this market.

Thank you all for your replies; points well taken. Although I have to disagree with Eddie Ziv on one point; the weather can be nuts around here (NW of Chicago close to Wisc border). We can have a couple feet of snow and then lots of rain will melt it, then a bunch more snow. But back on topic, a good deal is a good deal regardless of the time of year as long as you factor in all costs involved, including the weather.