Latest Finance News

This is the Best Housing Economy in History…for Tax Lien Investors!

This housing market has made owning a house by purchasing the tax lien against it much easier, people just are not paying their taxes. Mortgage companies are SO laden with foreclosures that they are willing to write off the note just to get it off their books!

In good economic times, the redemption rate from the home owner stays around 90%. This means that 9 out of 10 homeowners pay their taxes before you, the holder of the tax lien, legally gains ownership of the house. To do this, the owner must pay you your invested price of the tax bill plus interest, which is a Win-Win scenario for you, the tax lien investor either way. Not too bad, right?

Continue reading ‘Now Is The Time To Make Money On Buying Tax Liens Homes!’ »

The 2010 Winter Olympics in Vancouver, Canada is just around the corner. For those who haven’t been keeping up on all the winter sports since the last Olympics, here’s a top ten list (in no particular order) of the possible highlights. Just remember, it isn’t just the sports that make the Olympics worth watching!

1. The opening ceremonies

Continue reading ‘Top 10 Things To Look For In The 2010 Winter Olympics’ »

If you go online you can find many metabolic rate calculators that will estimate the number of calories you will burn in a day. This however becomes abstract and doesn’t seem to feel real to many people. I suggest that we look at our daily energy needs on an hourly basis instead of on a daily basis. For example: I went online and found a few metabolic rate calculators and determined that my estimated daily energy burn is approximately 1920 calories per day, or 80 per hour. If I eat something that has 80 cals in it then I know it takes my body 1 hour to burn that off. This seems to be a simpler way to view energy burning and eating. This also makes it more real. If I have something to eat that has 500 cals in it I know that it will take my body over 6 hours to burn that off. You can see that it doesn’t take long to fill up an entire days worth of energy burning in just a few small meals. If you want to eat a big dinner you have to budget for it by not eating much before and/or after that dinner. This way you’ve taken some calories out of your energy bank knowing that you will put them back in during the big dinner. This is the only way that weight loss really works. Eating a big dinner and telling yourself that you’ll work it off at a later date will never work. It’s no different than maxing out your credit card and telling yourself that you’ll pay it all off next month.

This never happens. Instead you end up paying the minimum balance of interest off forever and never manage to reduce the principle balance of the credit card. This is the exact same situation with weight gain and weight loss. Let’s say you gain 10 pounds and tell yourself you’ll diet and exercise it off later. The 10 pounds represents the maxed out credit card. Now if you eat at your BMR you won’t lose any weight, you will simply maintain your weight with the added 10 pounds. In order to get rid of your extra weight you need to make an even bigger payment of your weight debt my under eating long enough to allow your body to burn the 10 pounds off. This is why it seems so impossible to lose weight or pay off a credit card. Making the minimum payment on a credit card will never reduce the balance and just covers the interest. Eating just enough to match your BMR on a daily basis will keep you at your current weight and never allow your body to burn the extra calories needed to get rid of the stored fat. It’s a bit ironic that the two things in your life that require a budget (money and calories) are the two things that most people in North America are terrible at managing. Losing weight is no different than getting out of debt. You have to ‘budget’ your calories just like your money.

Continue reading ‘Budget Your Calories 60 Minutes at a Time’ »

the American housing market could prolong the recovery of the economy by delaying home foreclosures. This has been the topic of debate over whether it is best for America to face millions of foreclosures immediately, or to control the process over several years. The major argument for allowing the processing foreclosures to all happen quick, is that there will be a purging of bad loans followed by the beginning of the mending process for the industry. The opposing argument is that by slowing the foreclosure logjam, the economy and housing demand will have time to recover. It appears as though we are taking the latter course, for better or worse. Since the crash of the housing market, economists have predicted an uncontrolled surge in foreclosures. “Like everyone else, I’ve been waiting, but we’re not seeing the big influx that was expected,” said Jim Summers, an agent with Re/MAX Golden Empire. “At this point, I wouldn’t bank on anything.” Many real estate experts now say it’s not clear that the massive second wave will even come.

This would mean that the approach we are taking appears to be successful. Of course, foreclosure’s are not in anyone’s best interest because they drive down home prices, and keep banks skiddish about their lending practices. Right now, mortgages are much more difficult to obtain as a result of an over-conservative lending psyche The government is trying to control the downward pressure on the nation’s economy that the millions of foreclosures have caused. Lenders are fighting to keep value of their mortgage assets high, and cities don’t want their communities to suffer the massive losses from mortgage defaults. “As long as interest rates stay low, I think banking and government interests will be able to maintain some degree of market stability,” Conway said. The home foreclosure process now takes twice as long as it used to. A large reason for the longer delays are loan modification efforts to keep borrowers in their current home mortgages. These loan modifications are a noble effort in the short term, but a majority of them default on their modified mortgage within a year. The foreclosure process is also being slowed by staffing shortages at lending agencies and bankruptcy filings.

Continue reading ‘The Pain of Foreclosure Could Last Years’ »

Auto refinance is a savior if you own a vehicle but are victim of economic turn down. Lenders have come up with bad credit auto refinance schemes which can be available to you with just a click. If you have a bad credit history or have been unable to repay the loans this can be a good option for you.

Why auto refinancing?

Continue reading ‘Looking For Auto Refinance’ »

Some of the country’s top loan modification agencies, including 1st Foreclosure Prevention, have been assisting Bank of America with its mortgage loan modification needs. Bank of America is complying with many requests from these agencies. These requests involve changing mortgage loans so that they can feature more positive terms that will be easier for people to afford. The services that are being supported are valuable.

Bank of America is working to handle a number of different aspects of mortgage loan modification services. The lender is agreeing to terms involving interest rates and payment reductions. Unemployment forbearance plans and principal reductions have been handled as well. These are all services that are used with the intention of making it easier for a person to afford a loan.

Continue reading ‘Bank of America is Succeeding With Its Mortgage Loss Mitigation Assistance’ »