Breaking News! Loan Mods Don't Work – Short Sale Power Hour 03/31/10
March 31, 2010 / /
Kevin and Fred Group 46:10, Arizona’s Premier Short Sale Team discuss a recent article on the long term results of Loan Modifications
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HOW TO CLOSE AT LEAST 3 DEALS IN YOUR NEXT 90 DAYS
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About the Authors
Kevin Kauffman & Fred Weaver
Kevin and Fred the founders of Group 46:10. Over the last 10 years Kevin and Fred, and their team have closed tens of millions in real estate all over the country and have created some of the best training for agents in the market. Kevin and Fred are also highly sought after teachers whose work has helped agents all over the country build their own next level real estate business.
See the full report. I have link on my blog at; http://www.phillyshortsale411.com/video-blog/ or just google; OTC & OCC Mortgage Metrics 4Q2009.
***Servicers initiated 259,410 new HAMP trial periods. 21,316 existing trial periods were made permenant.
***Short sales continued to grow as an alternative to foreclosure, increasing 22.2 percent to 37,584-more than doubling from the same quarter a year ago.
Really….not to bust your banking bubbles boys (accidental alliteration, nice) but at a rate of 7 percent default increase every three months, it will actually take 18 months from now to get to 100% and an additional month and a half to reach 103% that Kevin is claiming. However, when it reaches 100%, all banks will implode and the CEO’s will ride away in a large ark like structure built in the Himalayas. Ultimately, the CEO’s will be kicked off the ark because the government of India (who is obviously the only government with enough money to build a structure of that size) won’t allow them to modify the terms of their boarding agreement.
I care for such information much.