How Long After a Short Sale Can a Lender Go After Me for the Difference?

Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real Estate, Short SalesApr 16th, 2010 | one response
Don’t you feel like it seems like the short sale game is changing on a daily basis? One day the government comes up with a new program that states our sellers are not liable for the tax portion of the forgiven debt only to find out that again they wasted the Tax Payer’s money (our money) because only a tiny pool of homeowners actually qualify! Listen in as I go over how long after a short sale transaction that a lender can go after our clients (the homeowner(s)), what to do when you are negotiated a short sale only to find out the lender requires the property be listed by a licensed real estate...
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When to “Fire” your Seller in a Short Sale Transaction!

Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateFeb 4th, 2010 | one response
On this week’s Friday Coffee Break we go over the best time to say “thanks” but “no thanks” to your short sale sellers! In the short sale business you will sometimes have to be like Donald Trump and say “YOU ARE FIRED” to your sellers. Listen in as we not only cover this extremely important topic, but we cover the BEST handwritten verbiage to put on a postcard to get a homeowner to contact you over the competition, what sneaky things lenders are now doing when attempting to collect on a deficiency judgment, whether or not you can protect yourself against...
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The Biggest Advantage to Having Your Own Loss Mitigation Company

Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJan 14th, 2010 | 2 responses
On this week’s Friday Coffee Break we cover one of the biggest questions that any real estate short sale investor has when deciding how to set up their business. Questions like: Do I set up a separate loss mitigation company to negotiate with lenders and Do I put my short sale offer into the lender with my personal name on it, etc, etc. Listen in as we also cover, what Freddie Mac’s short sale timelines are in non-judicial states, what to do with rents when the seller is in foreclosure so you don’t commit fraud, why managing seller expectations is our responsibility and much, much more!...
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5 Slam Dunk Ways to Get Out of Your Real Estate Rut!

Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateNov 19th, 2009 | 3 responses
Every real estate investor has at one time or another gotten stuck in a real estate rut! Listen in as I go over the 5 sure fire ways to get out of that rut and also make sure you don’t become the proverbial Octopus on roller-skates (eight legs all going in different directions at the same time). Also listen in as we go over whether or not a mortgage insurance company can demand a promissory note in exchange for a short sale acceptance letter, whether a family friend can buy a house from someone in foreclosure, what title company we recommend working with and much more.  Visit www.FridayCoffeeBreak.com...
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FHA and VA : Do I Need An Offer To Get A Short Sale Approved?

Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateSep 18th, 2009 | one response
FHA has revamped the way they discount and has caused some confusion in the industry! Listen in as I go over how they have a sliding discount scale and what those discounts are. This video also covers how I did on my first Mixed Martial Arts Fight, where to get an option contract that allows everyone to market a home , negotiate with the lender then sell to an end buyer for a profit (if there is any), the truth about the benefits of a back to back closing versus a Monday to Monday close and much more.  Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific...
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The Truth About Loan Modifications and Who’s Better at Getting the Job Done!

Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateMay 22nd, 2009 | 2 responses
There are ongoing questions in the news as to whether or not homeowners can actually negotiate a successful loan modification by themselves or if a third party is better at the job. In this video you will not only hear the facts around if a homeowner can affectively get their own loan mod approved but you will also hear how to get paid, as an investor, when the end buyers lender questions your flip transaction, whether an Option Contract or a Purchase and Sale Contract is better, if you should waste your time submitting offers on a listed short sale property if the listing agents does the short...
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The Parallels in our Real Estate Businesses and Mixed Martial Arts are Extremely Similar!

Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateApr 14th, 2009 | 3 responses
The parallels in our Real estate businesses and in Mixed Martial Arts are extremely similar; you will have to get around and plow through the very best people in order to get to the top! This video will cover why and how to plow through the top people to reach success and will also cover what to offer the foreclosing lender on your initial short sale to get your file opened 100% of the time, what “if any” are the forms that you need to skirt any title seasoning requirements and much more. Visit www.FridayCoffeeBreak.com for more real estate specific videos. Just getting started in the preforeclosure...
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Where Investors Should be Focusing, Explanation of Toxic Assets and The Government Tax Credit

Posted by Patrick Precourt in Real EstateFeb 13th, 2009 | no responses
Live Friday Coffee Break video with Patrick Precourt of North Shore Enterprises.  Thanks to everyone for being on the Challenges and Opportunities 2009 call.  If you missed it, click the link below this video to listen to the call. In this video Pat answers questions from investors around country with questions including where investors should be investing, dealing with first time leads, an explanation of toxic assets, the $15,000 government tax credit and more.  Check out the video and if you have any questions feel free to submit them using the form to the right. http://www.ChallengesAndOpportunities.com Take...
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