OfflineAs a certified cash flow consultant, I pride myself on helping people. This of course has rolled over into real estate investing as well.
For those that have or will potentially be in contact with desperate home sellers facing foreclosure, try educating them first.
To cash in on a potential short sale deal try using this conversational suggestion:
"Did you know that a foreclosure can be prevented in most cases? If you are facing foreclosure and don't want to be foreclosed on, contact your lender and see if they will consider a short sale." If they don't know what a short sale is educate them on what it is and the process. (if you don't know what it is just call an agent that specializes in short sales or google it for self help) Simply put, it's the bank willing to accept LESS than what is actually owed on the property.
Also, ask them if they've ever considered filing for bankruptcy. Chances are they'll reply back with an emphatic, "NO, NEVER!" reply. Once they do, simply educate them again by saying, " I didn't think so, but chances are you will not be accepted into bankruptcy anyway which of course is not what you would want in the first place but just by filing for it will give you ( the distressed home owner) an open window of opportunity to push forward to get their home sold because it's going to take about 30 days for them to officially get DENIED. During this 30 day "grace period," the bank will not be able to foreclose on their house!
Implement this into your practice as a property problem solver and an investor and you're income will compliment you for your efforts.
Gary Rabatin
Certified Cash Flow Consultant
Founder & President of Gold Bar Funding Group L.L.C.
Private Real Estate Investor
"Building Wealth by the Numbers"
Great info! I will definitely apply this and incorporate it into my strategies! Very helpful! very much appreciated!
@ Gold Bar- Gary or ANYONE with GOOD ADVICE i just recently joined the DG;Team and am starting my venture with Dean's Real Estate i just recieved my books, i only wish i would of joined Dean months ago but i kept watching his informercial and i was so ready to move and did not until recently. After being caught up in the down turn in the economy and losing a manufacturing job of 14 yrs. now i find myself as a distressed home owner who does not want to loose his home.I am already behind in my mortgage payments and i need to know how if any way i can keep my house keep my family with a roof over their head, Is there any advice you may have for me i have not had a chance to do my first deal yet to bring in additional stream of income. I only wish i would have been in this program months ago i would of had more time my mortgage has not put me in forclosure yet i am trying to avoid this is there anything i can do.
Mark a Harris
First have you contacted your lender explaining your circumstances and see if there is some sort repayment foregiveness plan you can work out with them.
Due to massive foreclosures nationwide, they will more than likely try to work with you to keep you in your house.
Also, have you looked into a loan modification as well? I would start there to see if either of those two options will work for you. Don't give up on trying to find a deal even though times my be rough because a 10,000 dollar deal will definately give you some breathing room.
Gary Rabatin
Certified Cash Flow Consultant
Founder & President of Gold Bar Funding Group L.L.C.
Private Real Estate Investor
"Building Wealth by the Numbers"
Mark,
I hope things are going well for you and your family as we move closer and closer to the changing of a new season. As summer passes, fall brings many different changes, but I know falling behind on payments isn't want this season should be about. I wrote an article on ways to stop a foreclosure and I encourage you to click on the link below to read it because it may help in some way. Take care and best of luck to you and all that you do and remember, we're ALL HERE to help.
Here's the link to the article. If it's not a hyperlink, then just cut and paste it in your address bar and click search. http://tinyurl.com/2w3guro
Gary Rabatin
Certified Cash Flow Consultant
Founder & President of Gold Bar Funding Group L.L.C.
Private Real Estate Investor
"Building Wealth by the Numbers"