Lien Release

Intersting Way to Avoid Florida Foreclosure

2009-06-05T17:54:00.001-07:00

Interesting way that the Florida mortgage short sale was able to close with the verification of the income that meets the debt ratio. This is always the way that Florida short sales with the FHA loans should be verified prior to the down payment assistance. There are a few more points that Florida short sales and FAH lending go hand in hand so to speak.

Look for the discount on the FHA preforeclosure and you will find the short sale is enabling the borrower who is in default on the FHA loan to sell and avoid foreclosure. The lost note and the reestablishment clause in the foreclosure pleading in Florida was deficient for several reasons and fortunately Joe was able to file a foreclosure answer within the 20 days that Florida foreclosures require. This in effect enabled the Florida short sale to close on time.

Florida foreclosure financing is available this week and it is also helpful with avoiding Florida foreclosure. Ask Joe and he will tell you that FHA loans in Default will lead to foreclosure filings. Save Joe’s home and save another FHA loan from foreclosure via a short sale.

2009-04-04T19:19:00.000-07:00

I JUST READ AN ARTICLE ABOUT HOW THE FHA loan defaulst were rising. Thi is a problem whether or not I noticed my caps lock was on. That's another issue and we'll be talking about FHA loan defaults and caps locks in another post.

FHA loan defaults are rising for sure.

Secret FHA Training Guide

2009-02-22T20:01:00.000-08:00

Fha loan training fare trans-pass

That's the way my money lasts

Ain't got no car to get around

When I go to work I've gotta go downtown

Now I've missed my train

That's a darn shame

When I'm running late no sleep's to blame

If you've gotta wife you know I'm right about fha mortgage training.

Gotta special man well I can understand your need for FHA loan training

Uptown, downtown everybody's getting down

Say uptown say downtown

Well I've missed my fha loan training

I know I'm late I've gotta do something I know

I hate I'm gonna walk to work fifteen blocks

I already got a hole in my socks

Go ahead and laugh that's okay

Cause what I really wanna say I got bad feet my corns hurt

To top it off I'm lost for work

Let me tell you what I say

When I'm dealing with the funky sidewalk

Let me show you how to walk

When I gotta do my funky walk

Let me tell you what I say

When I'm dealing with the funky sidewalk I say sssssssss-sugar

The FHA loan training song is complete.

For more FHA loan training see other posts or songs.

FHA refinance investment property streamline

2008-12-25T10:17:00.000-08:00

I was searching for the FHA streamline refinance guidelines when suddenly the following FHA information appeared. Lenders may offer streamline refinances and include the closing costs into the new mortgage amount. This was the FHA new regs that applied to most refinancing of investment property. This can only be done if there is sufficient equity in the property, as determined by an appraisal. Not everyone has sufficient equity in their FHA principal residence to refinance to a 5% interest rate or below. Streamline refinances can also be done without appraisals, but the new loan amount cannot exceed the original loan amount. Investment properties (properties in which the borrower does not reside in as his or her principal residence) may only be refinanced without an appraisal. There will be more posted on the FHA streamlined refinance program in the near future.

Breaking News on FHA Short Refinance!

2008-09-25T17:55:00.000-07:00

Interstingly, we've found the FHA shortest person and the tallest person for FHA in one photo. Notice they both get along and they are tall and short. This are some similarities with FHA refinance of short and tall. Let me explain.

FHA short Refinance
Short Refi FHA loans
The FHA shortest refinance

These are a few of the refinance options that are available with federal housing administration lending and loans. The refinance that has a payoff higher than the property value will undoubtedly become an FHA short refinance.

Let's just hope that the FHA payoff department gets along with the FHA refinance department as well as the talles person and shortest person in the world do in the photo above.

FHA short refinance information can be found all over the internet these days, but where do you find a person as tall and a peson as short as that? Check your FHA refinance paperwork throughly. That will be a subject for a future mortgage article.

Mortgage Websites For Lending or Mortgage Domains

2008-09-18T19:35:00.000-07:00

A mortgage loan borrower or loan officer names Albert would like WWW.ALBERTLOANS.COM

WWW.ALEXISLOANS.COM is a favorites of a lender names Alexis which is also a mortgage broker or lender.

Let's not forget about Amber who is a loan officer and has the mortgage website WWW.AMBERLOANS.NET

WWW.AMYLOANS.NET is Amy's mortgage website and there are many loan originators na,es Amy these days.

WWW.ANABELSLOANS.COM is Anabel's mortgage loan site.

WWW.ANGELALOANS.COM is for a lender named Angela of course.

WWW.ANITALOANS.COM is for Anita or Anitas mortgage company.

WWW.ANNALOANS.NET and Anna lendering is mortgage domain name Anna loans.

WWW.ANNELOANS.COM is for Anne the mortgage broker who created a mortgage website.

WWW.ANTHONYSLOANS.COM if for Anthony the mortgage domain name and loan website.

WWW.ASHLEYLOANS.COM if Ashley the lender and mortgage broker who created a mortgage website named after Ashley.

Mortgage Domains

Getting Your Short Sale Preapproved for a Quick Close

2008-08-30T13:29:00.000-07:00

Many of you have short sales. Let's face facts. There is nothing short about a short sales. Realtors and buyers are avoiding short sales like the plague. The reason is that short sales take too long to close. This article will dispel some of the myths about short sales as well as some common pitfalls and most notably, how to preapprove a short sale for a quick closing.

The seller of a short sale waits for an offer and then the short sale package is sent along witha contract to the short sale lender. A month passes, and then two, and no answer from teh short sale lender. Meanwhile, the short sale buyer has left and is no where to be found. This is why everyone hates short sales.

The solution is for the short sale submision to take place prior to the short slae buyer's contract. There are many ways to accomplish this but few of them are compliant. The only short sale preapproval method that I know of that is short sale compliant is forund at the Florida short sale preapproval site.

There will be more on the short sale preapproval written at a later date.

Studying the FHA rules Through the FHA Handbook

2008-08-10T12:14:00.000-07:00

The FHA rules are listed in the FHA Handbook which is called the 4155.1. This is the information that the FHA direct Endorsement Underwriter uses to approve FHA loans in Florida and mortgage loans throughout the United States. Once you reveiew the FHA oans and buy real estaet using an FHA loan, you will have the FHA rules understood as to qualifying debt to income and LTV requirements.

FHA rules in PDF form. The FHA 4155 as a PDF document online is useful for those seeking mortgage underwriting knowledge. FHA also alows a short sale called an FHA preforeclosure sale.

Florida Deficiency Judgment Song

2008-08-03T15:13:00.000-07:00

Cruisin' on down Main Street

You're relaxed and feelin' good

Next thing that you know you're seein

'Octopus in the neighborhood!

Surfin' on a sound wave Swingin' through the stars

Take a left at your intestine

Take your second right past Mars.

On THE FLORIDA DEFICIENCY JUDGMENT

Navigate a nostril

Climb on THE FLORIDA DEFICIENCY JUDGMENT

Spank a plankton, too

On our Florida deficiency judgment

Raft a river of lava

On THE FLORIDA DEFICIENCY JUDGMENT

Such a fine thing to do!

So strap your bones right to the seat

Come on in and don't be shy --

Just to make your day complete

You might get baked into a pie

On THE FLORIDA DEFICIENCY JUDGMENT

...Step inside -- it's a wilder ride!

Come on -- ride on THE FLORIDA DEFICIENCY JUDGMENT!

Cruisin' on down Main Street

You're relaxed and feelin' good

Next thing that you know you're seein

'Octopus in the neighborhood!

Surfin' on a sound wave

Swingin' through the stars

Take a left at your intestine

Take your second right past Mars.

On THE FLORIDA DEFICIENCY JUDGMENT

Navigate a nostril

Climb on THE FLORIDA DEFICIENCY JUDGMENT

Spank a plankton, too

On our Florida deficiency judgment

Raft a river of lava

On THE FLORIDA DEFICIENCY JUDGMENT

Such a fine thing to do!

So strap your bones right to the seat

Come on in and don't be shy

--Just to make your day complete

You might get baked into a pie

On THE FLORIDA DEFICIENCY JUDGMENT

...Step inside -- it's a wilder ride!

Come on -- ride on THE FLORIDA DEFICIENCY JUDGMENT!

That was the florida deficiency judgment song and you will not be able to get the deficiency judgment in florida song out of your head for at least 24 hours. Maybe you will be able to get the deficiecny judgement song out of your head sooner.

I Want A New FNMA short sale Flip Lyrics

2008-07-19T19:26:00.000-07:00

Here are the "I Want A New FNMA short sale Flip" lyrics that everyone has been requesting. Ever since we had the FNMA short sale party I can't get this tune out of my real estate head. Enjoy!

I want a new FNMA short sale Flip
One that won't make me sick
One that won' make me crash my car
Or make me feel three feet thick
I want a new FNMA short sale Flip
One that won't hurt my head
One that won't make my mouth too dry
Or make my eyes too red
One that won't make me nervous
Wondering what to do
One that makes me feel like I feel when I'm with you
When I'm alone with you
I want a new FNMA short sale Flip
One that won't spill
One that don't cost too much
Or come in a pill
I want a new FNMA short sale Flip
One that won't go away
One that won't keep me up all night
One that won't make me sleep all day
One that won't make me nervous
Wondering what to do
One that makes me feel like I feel when I'm with you
When I'm alone with you
I'm alone with you baby
I want a new FNMA short sale Flip
One that does what it should
One that won't make me feel too bad
One that won't make me feel too good
I want a new FNMA short sale Flip
One with no doubt
One that won't make me talk about FNMA short sales too much
Or make my face break out
One that won't make my short sale blow up!
Wondering what to do
One that makes me feel like I feel when I'm with you
When I'm alone with your short sale and Fannie Mae!

Florida Short Sale song will be next. Check in soon!

Florida Options for Short Sales

2008-07-12T15:20:00.000-07:00

Today’s Florida real estate lesson will cover the option contract and Florida short sales. There are many considerations for options and this is not to be confused with a lease option for Florida real estate. You must first understand that the Florida short sale of real estate is an ongoing real estate phenomenon. It is a short sale locomotive so to speak.

Examining Florida Options Short Sales and Realty.

In Depth Analysis of Current FHA APR

2008-07-05T10:13:00.000-07:00

This is an in depth analysis of the current fha apr and how it effects the annual percentage rate of conventionl-type mortgage loans. There is a current fha apr in existence today. It is also known as today's fha apr. Let's discuss this annual percentage rate for fha loans today.

You may review your federal truth in lending disclosure and see a federal box that discloses the APR for an FHA mortgage loan. This may or may not be the current fha apr. It will depend in large part on the date of the documents on your truth in lending disclosures. If the documents were completed recently, then the fha apr on the documents are current or at leas they should be current. And if they are not current, then they are not the current fha apr for today.

Why is any of this currently important for apr or for mortgage loans in general? Mortgages have to do with real estate and real estate has to do with prices. When you finance real estate with a mortgage loan, you have monthly payments to be made that can vary depending on the interest rate or more specifically, they can vary with the current fha apr. Now you see that makes some sense. The cost of the monthly payment is a cost that should be reflected in the current fha apr for the mortgage loan.

Currently, the fha apr is relatively low. This may change over time. Your fha apr in the future may be higher because the index value may go higher and they fha apr index currently used in teh future may be higher. All of this is then relecfted in the current fha apr.

I hope you enjoyed this discussion on current fha apr. There will be much more to discuss on the fha apr currently in use in the future. Until then, check out the fha apr current and past predictions.

Thank you for reading my current fha apr post.

Learning about the loan modificaton process

2008-06-29T15:48:00.000-07:00

Do you know about the loan modification process? Here is a post about loan modifications.

Lien Release of Homesteaded Property in Florida

2008-05-26T16:03:00.000-07:00

Title XV HOMESTEAD AND EXEMPTIONS
Chapter 222 METHOD OF SETTING APART HOMESTEAD AND EXEMPTIONS

222.01 Designation of homestead by owner before levy.--

(1) Whenever any natural person residing in this state desires to avail himself or herself of the benefit of the provisions of the constitution and laws exempting property as a homestead from forced sale under any process of law, he or she may make a statement, in writing, containing a description of the real property, mobile home, or modular home claimed to be exempt and declaring that the real property, mobile home, or modular home is the homestead of the party in whose behalf such claim is being made. Such statement shall be signed by the person making it and shall be recorded in the circuit court.

(2) When a certified copy of a judgment has been filed in the public records of a county pursuant to chapter 55, a person who is entitled to the benefit of the provisions of the State Constitution exempting real property as homestead and who has a contract to sell or a commitment from a lender for a mortgage on the homestead may file a notice of homestead in the public records of the county in which the homestead property is located in substantially the following form:

NOTICE OF HOMESTEAD

To: (Name and address of judgment creditor as shown on recorded judgment and name and address of any other person shown in the recorded judgment to receive a copy of the Notice of Homestead).

You are notified that the undersigned claims as homestead exempt from levy and execution under Section 4, Article X of the State Constitution, the following described property:

(Legal description)

The undersigned certifies, under oath, that he or she has applied for and received the homestead tax exemption as to the above-described property, that _____ is the tax identification parcel number of this property, and that the undersigned has resided on this property continuously and uninterruptedly from (date) to the date of this Notice of Homestead. Further, the undersigned will either convey or mortgage the above-described property pursuant to the following:
(Describe the contract of sale or loan commitment by date, names of parties, date of anticipated closing, and amount. The name, address, and telephone number of the person conducting the anticipated closing must be set forth.)

The undersigned also certifies, under oath, that the judgment lien filed by you on (date) and recorded in Official Records Book _____, Page _____, of the Public Records of __________ County, Florida, does not constitute a valid lien on the described property.

YOU ARE FURTHER NOTIFIED, PURSUANT TO SECTION 222.01 ET SEQ., FLORIDA STATUTES, THAT WITHIN 45 DAYS AFTER THE MAILING OF THIS NOTICE YOU MUST FILE AN ACTION IN THE CIRCUIT COURT OF __________ COUNTY, FLORIDA, FOR A DECLARATORY JUDGMENT TO DETERMINE THE CONSTITUTIONAL HOMESTEAD STATUS OF THE SUBJECT PROPERTY OR TO FORECLOSE YOUR JUDGMENT LIEN ON THE PROPERTY AND RECORD A LIS PENDENS IN THE PUBLIC RECORDS OF THE COUNTY WHERE THE HOMESTEAD IS LOCATED. YOUR FAILURE TO SO ACT WILL RESULT IN ANY BUYER OR LENDER, OR HIS OR HER SUCCESSORS AND ASSIGNS, UNDER THE ABOVE-DESCRIBED CONTRACT OF SALE OR LOAN COMMITMENT TO TAKE FREE AND CLEAR OF ANY JUDGMENT LIEN YOU MAY HAVE ON THE PROPERTY.
This _____ day of _______________, 2_____.
______________________________
(Signature of Owner)
______________________________
(Printed Name of Owner)
______________________________
(Owner's Address)
Sworn to and subscribed before me by ______________________________ who is personally known to me or produced ______________________________ as identification, this _____ day of _______________, 2_____.
______________________________
Notary Public

(3) The clerk shall mail a copy of the notice of homestead to the judgment lienor, by certified mail, return receipt requested, at the address shown in the most recent recorded judgment or accompanying affidavit, and to any other person designated in the most recent recorded judgment or accompanying affidavit to receive the notice of homestead, and shall certify to such service on the face of such notice and record the notice. Notwithstanding the use of certified mail, return receipt requested, service shall be deemed complete upon mailing.

(4) A lien pursuant to chapter 55 of any lienor upon whom such notice is served, who fails to institute an action for a declaratory judgment to determine the constitutional homestead status of the property described in the notice of homestead or to file an action to foreclose the judgment lien, together with the filing of a lis pendens in the public records of the county in which the homestead is located, within 45 days after service of such notice shall be deemed as not attaching to the property by virtue of its status as homestead property as to the interest of any buyer or lender, or his or her successors or assigns, who takes under the contract of sale or loan commitment described above within 180 days after the filing in the public records of the notice of homestead. This subsection shall not act to prohibit a lien from attaching to the real property described in the notice of homestead at such time as the property loses its homestead status.

(5) As provided in s. 4, Art. X of the State Constitution, this subsection shall not apply to:
(a) Liens and judgments for the payment of taxes and assessments on real property.
(b) Liens and judgments for obligations contracted for the purchase of real property.
(c) Liens and judgments for labor, services, or materials furnished to repair or improve real property.
(d) Liens and judgments for other obligations contracted for house, field, or other labor performed on real property.
History.--s. 1, ch. 1715, 1869; RS 1998; GS 2520; RGS 3875; CGL 5782; s. 20, ch. 73-334; s. 2, ch. 77-299; s. 1, ch. 83-40; s. 1195, ch. 95-147; s. 25, ch. 2000-258; s. 17, ch. 2005-241.

Call Capture Calling

2008-05-17T15:56:00.000-07:00

Call capture calling is a catchy title for call capture. Basically, call capture is a system that allows you to advertise a toll free number and then peopel call that number and the call capture system captures the persons phone number. You then call them bac of course. That's how call capture works in a nutshell.

I find call capture interesting and the fact that it captures a phone number through a toll free number is also interesting. Some people generate business through a call capture system and other people find the recorded messages that call capture provides to be a benefit and highly educational. The most imprtant facet of call capture, though, is that someone calls you back.

Call Capture gets a rating of four stars on the lien release blog.

Loan Officer Marketing With Call Capture

2008-04-20T15:49:00.000-07:00

Call capture technology is interesting. The person calls the call capture sign and then the phone number is sent to teh call capture owner. This is a surprise to the person who made the call as they did not leave a message. They are suprised that they are being called.

This is wehere the loan officer must be able to comunicate well with theperson that called. Perhaps it would help if the call capture phone number was advertised in a place that sold real estate and the loan officer called back with something that the caller would like to hear. There are many instances where real estate call capture technology for a loan officer could be useful.

There are some of the uses for call capture technology. Call capture technology can be used by a loan officer who works the real estate makret and likes to return calls with nice information on real estate.

Call Capture Real Estate for Loan Officers.

Loan Officer Marketing

2008-04-04T22:15:00.001-07:00

This is a blog about loan officer marketing.