Slash Forum

Real Estate Foreclosure Prevention Strategies

Article by Simon Volkov

Real estate foreclosure has caused millions of homeowners’ financial hardship that will take years to recover from. Not only are these people losing their home they are often held financially responsible for deficiency amounts when their foreclosed property is sold for less than owed on the mortgage note.

Real estate foreclosure is reflected on credit reports for up to 10 years. Once reported to credit bureaus, debtors often witness a major decline in their FICO score which in turn places them into a lower credit category. Interest rates are assessed based on credit scores. Borrowers with low scores pay much higher rates of interest and are often declined credit of any sort.

When lenders repossess real estate properties are first placed for sale through foreclosure auctions. If property is sold for less than the balance owed on the home loan, banks can pursue borrowers for the difference. If borrowers are unable to pay deficiency amounts in full banks can obtain court ordered deficiency judgments.

Creditor judgments remain on credit reports for up to 7 years after the debt is paid. This can cause serious credit damage and substantially reduce FICO scores. If debtors do not establish a payment plan, banks can pursue collection through wage garnishment.

No one wants their employer to know about personal finance problems. Not to mention, employers usually are not pleased with having to tend to additional accounting procedures to satisfy employees’ debts.… Read the rest

Where to Spend Money in Your New Real Estate Career

Article by Lynda Jeffers

You’ve made the decision to switch to real estate. You’ve had the training, you’re sure that representing home buyers/sellers is right for you and you’re determined to stick out the leaner early years. Despite the lean times you may be seeing, be willing to spend money where it will help you most: on the tools that an agent needs.

MLS accessWhile pricey, it is the main cannon in your arsenal. You will spend a lot of money on this, but without it, you are never going to be able to compete with the agents who do have it. Cell phoneYou need a plan that gives you a lot of minutes a month. Don’t underestimate how much time you’re going to be doing talking to clients, colleagues, other real estate professionals and, because you’re going to be on the road a lot, your own family. Consider a SmartPhone or BlackBerry, as they can handle a lot of information and are great for emails on the go.LaptopThere is no end to what this can do for you. In addition to a comfortable keyboard, the laptop is also great for holding business software, doing research on the Internet and working on your marketing.Client-friendly carYou’re going to be on the road a LOT. Get a car that is good on fuel and that is going to be convenient for clients to climb into if you’re ferrying them to and… Read the rest

‘Map Of Europe With France And Paris In Value’ Wall Decal – 18″W x 12″H Removable Graphic

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WallMonkeys wall graphics are printed on the highest quality re-positionable, self-adhesive fabric paper. Each order is printed in-house and on-demand. WallMonkeys uses premium materials & state-of-the-art production technologies. Our white fabric material is superior to vinyl decals. You can literally see and feel the difference. Our wall graphics apply in minutes and won’t damage your paint or leave any mess. PLEASE double check the size of the image you are ordering prior to clicking the ‘ADD

List Price: $ 38.99

Price: $ 38.99

Serta City Park Pillow Top Mattress Only Queen

• No flip construction
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The City Park mattress collection is designed to offer the quality you expect from the Serta brand at exceptional values. The City Park Pillow Top features Serta’s exclusive VertiCoil Premiere(tm) Innerspring, which offers more support and surface coverag

List Price: $ 534.99

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South Florida and Miami Commercial Real Estate Outlook 2009

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