Tuesday, December 11, 2007

BIG MORTGAGE SECRET!








THE BIGGEST SECRET YET!
How to Finance 100% with NO CREDIT CHECK!





With the sub-prime meltdown in full swing, individuals needing to be creative in the financing of real estate are slowly becoming aware of the lack of available financing options. To the astute eye this current situation has created an opportunity to profit and accumulate even more wealth than the previous situation. Learn this easy techniques.
I was originating sub-prime loans in Texas prior to license requirements. We in the business all knew that it was only a matter of time before the poorly documented loans and the adjustable rate mortgages set to adjust above the borrowers income would come tumbling down like Humpty-Dumpty. Everyone in the industry has heard the horror stories how some of the less ethical brokers were juggling monies and allowing individuals to obtain mortgages using less that legal methods.

The large slow moving companies are the ones most affected by this recent market adjustment. These entities are unable to keep up with over inflated variable expenses as well as fixed expenditures due to dwindling home sales and originations. They have been forced to lay off employees and tighten up loan requirements. PMI Mortgage insurance covering borrower default has tightened it's requirements refusing to insure borrowers with lower credit scores. This has caused lenders to tighten loan requirements even further. As of this writing it's difficult if not impossible for borrowers having fico scores less than 550 to obtain mortgage insurance on 100% LTV's. Hence no mortgage insurance, no loan. The market is adjusting. Learn how to profit from the changes.

I have been blessed with the ability to draw from past market adjustments. Rates, terms, downpayment amounts are all relative. In the year 1979 I purchased my first home. I had just ETS'ed (end of tour status), from the military and wanted to utilize my V.A. Benifits. My first home loan consisted of $56,000 principle amount, 30 year amortization @10.5% interest. This was a great prime loan at the time. At the same time sub-prime interest rates were escalating as high as 22%. The amazing fact I'm trying to impress upon you is this: PEOPLE WILL ALWAYS NEED A PLACE TO STAY AND WILL ALWAYS NEED TO BUY AND SELL REAL ESTATE!

The key to this business is very simple. Don't look for ways not to do a transaction, look for ways to get the transaction done. Since you have read the bulk of this quick e-letter, I'm going to share a secret with you. This will revolutionize the way you look at real estate. I compiled a list of property owners who have had their houses for sale on the MLS for an extended period of time. Some of these sellers have expressed a willingness to accept owner financing for a portion of their net procceeds. I asked these sellers if they would be willing to Owner Finance 35% of the sale price of their properties. To my amazement, some of the owner's said they would be willing to owner finance 35% of the sale price of their home. Why is this important?
I know where to obtain 65% financing on real estate with no credit check!
Isn't that a kick in the head? 35% from the seller + 65% from a private investor = 100% financing on real estate with No Credit Check! Even more amazing, is the fact that this type of hard money isn't hard to find. If you can't find it, I'll show you where it is.
Because of my many other obligations it's mandatory that I study market changes on the MLS daily. What I'm always looking for is properties containing high amounts of equity on the table and sellers willing to offer or participate in creative financing. I'm going to make this list and my private notes containing conversations with sellers and selling agents available to a select group of individuals. Let me know if you are interested.
NOTE: Act Quick! These type of deals go real quick!

Dick Green Brkr#479053
Licensed Mortgage and Real Estate Broker
Triad Mortgage and Realty Services

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