"Home Alone" House For Sale - Only $2.4 Mil!

I've always said that when I finally get rich enough to spend millions of dollars on a house I will buy the one from Ferris Buellers Day Off, but now I'm not sure.  Why, you ask?  Well, the home used in the movie Home Alone is officially on the market. 

Listed at $2.4 Million, the property is located in Winnetka, Illinois (which is a suburb of Chicago) and was built in 1920 and boasts a whopping 14 rooms.  Marissa Hopkins, the listing agent (lucky) with Coldwell Banker Residential Brokerage firm in Winnetka, says that they are only showing the home to qualified borrowers.  So if you would like to buy the house please let me know.  I would absolute LOVE to do the mortgage on this place.  :)  Here's some pictures to appease the masses:

 Source: http://thechive.com/2011/05/06/home-alone-house-for-sale-lets-take-a-peak-inside-25-photos/

NAMB Lawsuit Fails…Compensation Rule Becomes Law April 1

The dreaded Loan Officer Compensation Law, which is a very heated debate right now in the Mortgage Industry, officially went into effect yesterday.  This new rule will change almost everything about mortgage lending, so if you are looking to buy a house please don't hesitate to call us for more information.

We can walk you through the new mortgage process and get you into a home you love, and a loan you can afford.  Call 817-527-3164 or email mpate@wewalkyouhome.com for more details.

Click the link below for even more information: 

NAMB Lawsuit Fails…Compensation Rule Becomes Law April 1

I think this is cool. Now we can spend money at baseball games 4 times faster!

Forensic Mortgage Audits: For Real or For Fraud?

Back in 2008, as the United States and millions of homeowners faced the real estate crisis, a multitude of new companies across the country came out of nowhere offering loan modifications and “foreclosure rescue services”, which aimed at helping consumers that were behind on their home loans.   On the verge of default and foreclosure, desperate homeowners flocked to these companies hoping to keep themselves out of trouble, and also hoping to keep themselves inside their homes.  Sure, some of these companies were legitimate, but many many more were not, and in turn they ended up ripping off literally thousands of Americans across the country that were struggling helplessly. 
 

Then, in 2009, the government stepped in and for the most part shut down many of the firms that were fraudulently offering these loan modifications to the public.  All was well (for a while) until a new scam recently came about……Forensic Mortgage Audits.  

Just like the Loan Modifications of the past, these loan audits claim to help consumers out of their mortgage troubles by identifying any illegalities performed by your lender, broker, or other parties in conjunction or associated with the mortgage you obtained.  Thus, in theory, forensic mortgage audits should be very helpful to homeowners. 

Unfortunately (and regrettably) not all of these companies that make themselves available to you are actually qualified to provide audits.  In fact, most loan audits these days are offered or performed by people without any legal training or attorney backing at all.  These fraudulent businesses exploit consumers by selling mortgage loan audits that require you to pay a large upfront fee in exchange for a review of your mortgage to see if your lender complied with mortgage lending laws.  They claim that if it turns out your loan was funded unlawfully you might end up being entitled to compensation, a refund of all interest and principal payments made for the last three years, all non-recurring closing costs, legal fees, or a renegotiation or modification of the terms of the loan. 

But here’s the kicker.  The FTC says it has found no evidence whatsoever that forensic loan audits will help you get a loan modification or any other foreclosure relief.  In fact, the FTC even goes as far to say on their website that:

“Nothing could be further from the truth…according to its law enforcement officers:

•    there is no evidence that forensic loan audits will help you get a loan modification or any other foreclosure relief, even if they’re conducted by a licensed, legitimate and trained auditor, mortgage professional or lawyer.
•    some federal laws allow you to sue your lender based on errors in your loan documents. But even if you sue and win, your lender is not required to modify your loan simply to make your payments more affordable.
•    if you cancel your loan, you will have to return the borrowed money, which may result in you losing your home.”

So what can you legitimately do for help if you find yourself behind on your mortgage and facing the possibility of foreclosure?  The best thing you can do is stay in touch with your loan servicer or lender.  Whoever holds the note to your home would definitely rather work with you than have the property foreclosed upon.  Many lenders will even offer you the chance to negotiate a new repayment schedule to get you back on track. The FTC also tells us that if you do decide to pursue a mortgage audit or any foreclosure relief system, make sure to BE CAREFUL, and avoid any business that: 

•    guarantees to stop the foreclosure process – no matter what your circumstances are
•    instructs you not to contact your lender, lawyer or credit or housing counselor
•    collects a fee before providing any services accepts payment only by cashier’s check or wire transfer
•    encourages you to lease your home so you can buy it back over time
•    recommends that you make your mortgage payments directly to it, rather than your lender
•    urges you to transfer your property deed or title to it
•    offers to buy your house for cash at a fixed price that is inappropriate for the housing market
•    pressures you to sign papers you haven’t had a chance to read thoroughly or that you don’t understand.
 

Also, if you think you’ve been in contact with a foreclosure fraudster, contact:

•    Federal Trade Commission – www.ftc.gov
•    Your state Attorney General – www.naag.org
•    Your local Better Business Bureau – www.bbb.org
 

Resources:  http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt177.shtm

Fort Worth News: Cafe Brazil is coming to town!

Per the company's website (http://cafebrazil.com), the famous Dallas restaurant Cafe Brazil is opening up a new location in Fort Worth come mid march! This is great news, as this place is just plain delicious!

The website says that the new location will be "on TCU campus" but the address they give would put it right down the street from Fuzzy's, on Berry.  I guess we will find out which one is correct soon enough.  Keep tuned in for further details, or you can keep checking the companies website for more information.

http://cafebrazil.com/2010/12/cafe-brazil-is-coming-to-fort-worth/

How would you make real estate investments in the United States easier?

This week, our guest blogger Daisy joins us to talk about real estate investments in the United States.  Enjoy!

The real estate business is not for everyone. It is a highly volatile market. There are constant fluctuations in the industry and prices rise and fall at regular intervals. It is not really that easy to plan an investment in, lets say, the San Jose real estate industry, or even here in Fort Worth. Individuals normally use agents to take care of their real estate needs. How would it be if someone makes it easier for you to manage your real estate issues? 

Generally, a typical real estate investment is divided into 3 main issues. You may want to follow the basic steps in order to make your estate investment a successful venture, even if you happen to find yourself in San Jose instead of Fort Worth. Registration may be easier for landowners that have rights of ownership on land. You or any investor may like to follow certain simple steps in order that your investment becomes worth it. An investment in San Jose real estate is perhaps the greatest investment anyone in the state would make., just like Fort Worth, TX.  It is probably an investment for a lifetime. If you are a visitor from another land, then you may find it a little difficult to buy land in San Jose or Fort Worth, but with few simple steps you could make it worth a try. When you are from a foreign land, language can become a barrier. In addition to this, you may also be unaware of the laws that govern the San Jose real estate market. You must first find out the rules and regulations before buying any kind of property in the state.

As a buyer, it is very essential that you understand the detailed process of buying. So, get some professional help if needed and learn the ropes of San Jose andFort  Worth real estate buying and selling to make things smooth. There may be different types of properties like house, time shares, condominiums and others. If you want to buy property then you must have good knowledge about the type of property you want to invest in. In addition to this, the rights related to the property must be known. You must also be aware of the detailed process of purchase and the fees that may be payable. You may also want to assess the strategies for protecting your investments.

Stop throwing away your money! Use NWBO to sell your home!

HOW YOU ARE GETTING OVERCHARGED FOR ANTIQUATED SERVICES

 

One of the most little known facts about the real estate market today has to do with realtors themselves and the insane commissions they make from selling houses.  The fact is, 20 years ago realtors served a quality purpose.  They found houses for buyers, sold houses for sellers and made offers on both sides behalf. 

For doing so, realtors usually charged around 3% of the sales price in commissions to both parties (that's 6% total).  The problem with this is that it was 20 years ago, and since then, the internet and technology has changed the real estate game in unimaginable ways.

Nowadays, if you are selling your home, you will be paying a realtor 3% of your hard earned equity (the money you have  in your home, built up through your mortgage payments) to a real estate agent who really isn't doing anything at all. Why would you do that?  What alternative do you have?

WHAT ELSE CAN YOU DO?

That's where NWBO comes in.  Nation Wide By Owner (NWBO) takes a flat fee (usually around $399) and lists your home on the internet, gives you one of our BRILLIANT YELLOW SIGNS for outdoor exposure, and even ASSISTS YOU WITH THE PAPERWORK. In fact, they even have ON SITE MORTGAGE PROFESSIONALS that will do all the financial work once you find a buyer for your home.

By doing this, you can save up to 6% of your total equity.  How much is 6%? Well here's an example.  Let's say your home sells for $200,000.  You can do one of two things.  You can either sell your home with NWBO for $399, or you can pay $12,000 out to realtors for doing the same job.  That's right.  $12,000.  You can keep it or you can throw it away.  The choice is yours.

SO the question is, why WOULDN'T you use NWBO to sell your home?