Friday Coffee Break» short sale http://fridaycoffeebreak.com Weekly Preforeclosure Updates from Patrick Precourt Thu, 02 Sep 2010 21:33:54 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Why College is the Biggest Scam in America Today! http://fridaycoffeebreak.com/2010/09/why-college-is-the-biggest-scam-in-america-today/ http://fridaycoffeebreak.com/2010/09/why-college-is-the-biggest-scam-in-america-today/#comments Thu, 02 Sep 2010 21:26:52 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=635 Riddle me this? How much money should you have to spend, for college, only to get in debt up to your eyeballs, before you even get a job? The answer is: A heck of as lot! Listen in as I cover this hot topic and why more lenders (both REO and Short Sale) are disallowing transactional funding proof of fund letters. We will also discuss whether or not short sale lenders can put deed restrictions on a property when they are not the owners, plus whether or not REO banks can put deed restrictions on properties. How and why Home Owners Associations/Condo Associations and municipal utility agencies, become first position debt owners before 1st or 2nd lien holders. We will discuss how to get paid a large fee on a short sale property without taking title and how Chase’s discount guidelines when they send their 2nd lien bad debt to their recovery department, and much more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!

Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visitwww.PropTrackr.com for more info.

]]> http://fridaycoffeebreak.com/2010/09/why-college-is-the-biggest-scam-in-america-today/feed/ 0 Are you Fat, Big Boned or just Over Indulged? http://fridaycoffeebreak.com/2010/08/are-you-fat-big-boned-or-just-over-indulged/ http://fridaycoffeebreak.com/2010/08/are-you-fat-big-boned-or-just-over-indulged/#comments Fri, 20 Aug 2010 15:11:21 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=632 I don’t know if it is me, but do you get the feeling that the majority of Americans feel they are entitled to anything they want without working for it? Listen in to today’s Friday Coffee Break as I breakdown this hot topic. We also discuss whether or not there is a law in Florida requiring a real estate investor to hold a property for over 30 days before flipping it, whether or not a same day flip is legal. We also discuss the truth about what a Wells Fargo short sale acceptance letter is requiring you to do, whether Wells Fargo and ASC (a Wells Fargo Company) have the same requirements on their short sale approval letters and much more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!

Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visitwww.PropTrackr.com for more info.

]]> http://fridaycoffeebreak.com/2010/08/are-you-fat-big-boned-or-just-over-indulged/feed/ 3 You Are Now Paying Your Unemployed Neighbors Mortgage! http://fridaycoffeebreak.com/2010/08/you-are-now-paying-your-unemployed-neighbors-mortgage/ http://fridaycoffeebreak.com/2010/08/you-are-now-paying-your-unemployed-neighbors-mortgage/#comments Fri, 13 Aug 2010 17:15:21 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=623 Did I get your attention?
Good, because that is the latest thing that our tax dollars are going to be paying for. The program is called the Emergency Homeowner Loan Program and is going to cost us $3 Billion Dollars. Doesn’t it make you think… “Why I am working so hard?” or “Why didn’t I over leverage my house because I could have gotten bailed out?” Listen in as I cover this hot topic and also the truth behind whether you can sell a property with owner-financing now that the SAFE Act has passed. We will also cover whether you can short sale a property when the homeowner files Bankruptcy, whether or not you can “assign” or “flip” an REO (a bank owned property), plus how to track down a mortgage that was assigned from one lender to another and much more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!

Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visit www.PropTrackr.com for more info.

]]> http://fridaycoffeebreak.com/2010/08/you-are-now-paying-your-unemployed-neighbors-mortgage/feed/ 3 How A Seasoned Investor CAN Get Out Of A Steady Funk http://fridaycoffeebreak.com/2010/08/how-a-seasoned-investor-can-get-out-of-a-steady-funk/ http://fridaycoffeebreak.com/2010/08/how-a-seasoned-investor-can-get-out-of-a-steady-funk/#comments Thu, 05 Aug 2010 22:01:25 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=613 Being in real estate investing for the past 12 years, I understand how it feels to get stuck in what seems to be the deepest pile of “quick-sand” there is; the grind, the challenges, the successes and the failures! Listen in as I go over how to overcome being in a steady “funk” and the best strategy to use when faced with this sometimes overwhelming feeling. Also, listen in as we cover whether or not we can get every lender to issue a 100% forgiveness of debt on every one of our short sale properties, whether or not it is common for MI (Mortgage Insurance) companies to disallow a contract because the buyer is an LLC, the best way to fund all of your deals, whether or not lenders are actually selling “notes” on defaulted properties, and more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!

Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visit www.PropTrackr.com for more info.

]]> http://fridaycoffeebreak.com/2010/08/how-a-seasoned-investor-can-get-out-of-a-steady-funk/feed/ 2 Do Foreclosing Lenders Cross the Line by Black-balling Investor Buyers? http://fridaycoffeebreak.com/2010/07/do-foreclosing-lenders-cross-the-line-by-black-balling-investor-buyers/ http://fridaycoffeebreak.com/2010/07/do-foreclosing-lenders-cross-the-line-by-black-balling-investor-buyers/#comments Thu, 15 Jul 2010 21:33:00 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=601 In today’s real estate environment Lenders are doing more and more due diligence and scrutinizing the majority of short sale deals to try to save money. Listen in as we discuss what you should NOT do in order to stay off their BLACK BALL List! On this week’s Friday Coffee Break we also cover where the future of the short sale business is going, where to find out if you need a license to negotiate short sales in your state, how and where to escalate and FHA file, the best way to handle Auctions and whether or not they are an effective way to purchase properties and more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!


Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visit www.PropTrackr.com for more info.

]]> http://fridaycoffeebreak.com/2010/07/do-foreclosing-lenders-cross-the-line-by-black-balling-investor-buyers/feed/ 0 Is It Fraud If You Flip a Successful Wells Fargo/ASC Short Sale? http://fridaycoffeebreak.com/2010/05/is-it-fraud-if-you-flip-a-successful-wells-fargoasc-short-sale/ http://fridaycoffeebreak.com/2010/05/is-it-fraud-if-you-flip-a-successful-wells-fargoasc-short-sale/#comments Sat, 22 May 2010 03:39:04 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=546 Flipping short sale properties is an incredible way to make money in today’s’ real estate investing world, however flipper beware! What I mean by that is beware of the coveted short sale acceptance letter and how it is written. Too many time I see banks try and slip in some sly verbiage that would make flipping a short sale practically “illegal!” Listen in as I not only cover this “hot” topic but I also cover whether or not you have to file a DBA (doing business as) of your LLC with every different county where a short sale you are negotiating is located, if a Land Trust still works in today’s preforeclosure business, when a homeowner is supposed to send in their house payment while the new HAFA short sale process is going on, how and where a new investor should begin their investing career, what to do when a banks loss mitigator will not update their notes when you call to check on the status of the short sale and more.

Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

Ready to take your real estate business to the next level? Take a 14 day trial of PropTrackr — the newest and easiest real estate management platform online!

]]> http://fridaycoffeebreak.com/2010/05/is-it-fraud-if-you-flip-a-successful-wells-fargoasc-short-sale/feed/ 0 The Latest “Unknown” Government Short Sale Changes! Will the new HAFA Program Work or Not? http://fridaycoffeebreak.com/2010/05/the-latest-unknown-government-short-sale-changes-will-the-new-hafa-program-work-or-not/ http://fridaycoffeebreak.com/2010/05/the-latest-unknown-government-short-sale-changes-will-the-new-hafa-program-work-or-not/#comments Fri, 07 May 2010 03:22:20 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=527 On this week’s Friday Coffee Break we dig into two of the latest and greatest government changes in their infamous HAFA Short Sale Program.  You won’t believe what they added this time that will make your sellers pretty mad! We also cover our upcoming Equator.com webinar, our upcoming PropTrackr.com webinar, whether or not a HELOC (Home Equity Line of Credit) that gets charged off will qualify for the HAFA Program, whether or not you can collect a loss mitigation fee on top of a real estate agent commission, the best way to turn a potential wholesale short sale flip into profit when you are dealing with a lender who has a 30 day no resale clause and you have no money, and much more.  Visit www.FridayCoffeeBreak.com for more real estate specific videos and check out www.PropTrackr.com for the industry’s best online Real Estate Management Tool — developed by North Shore Enterprises!

]]> http://fridaycoffeebreak.com/2010/05/the-latest-unknown-government-short-sale-changes-will-the-new-hafa-program-work-or-not/feed/ 5 How Long After a Short Sale Can a Lender Go After Me for the Difference? http://fridaycoffeebreak.com/2010/04/how-long-after-a-short-sale-can-a-lender-go-after-me-for-the-difference/ http://fridaycoffeebreak.com/2010/04/how-long-after-a-short-sale-can-a-lender-go-after-me-for-the-difference/#comments Fri, 16 Apr 2010 08:27:08 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=510 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 agent, the best place to find money today to finance our deals, and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

Be sure to check out our brand new real estate management application, PropTrackr and take a free 14 day trial!

]]> http://fridaycoffeebreak.com/2010/04/how-long-after-a-short-sale-can-a-lender-go-after-me-for-the-difference/feed/ 1 Can A Homeowner Do A Short Sale If They Are Current? http://fridaycoffeebreak.com/2010/04/can-a-homeowner-do-a-short-sale-if-they-are-current/ http://fridaycoffeebreak.com/2010/04/can-a-homeowner-do-a-short-sale-if-they-are-current/#comments Fri, 09 Apr 2010 05:32:57 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=504 There is a lot of misinformation in today’s real estate world and one of the biggest ones revolves around the question of whether or not a lender will take a short sale or discount their total amount owed to them when a homeowner is current on their mortgage. Make sure you listen in as we uncover what lenders are doing today as opposed to last year, the best ways to create monthly cash flow while being a short sale investor, the inside tricks to “Managing a BPO” so you get your desired outcome, whether or not a lender can tell a seller what he or she “has” to list their property at and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

]]> http://fridaycoffeebreak.com/2010/04/can-a-homeowner-do-a-short-sale-if-they-are-current/feed/ 4 Disclosure, Disclosure, Disclosure — What Exactly Do I Need in Writing to “Protect” Myself? http://fridaycoffeebreak.com/2010/03/disclosure-disclosure-disclosure-what-exactly-do-i-need-in-writing-to-protect-myself/ http://fridaycoffeebreak.com/2010/03/disclosure-disclosure-disclosure-what-exactly-do-i-need-in-writing-to-protect-myself/#comments Fri, 19 Mar 2010 23:22:12 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=500 Disclosure is the number one thing that real estate investors and licensed real estate agents have to do in today’s real estate climate. When you are sitting with a seller or talking to them on the phone you have to make sure you are crystal clear on what you want to accomplish. If you are an investor “tell them” you are an investor, if you are looking to assign a contract that you have on their house “tell them”, if you want to do a short sale flip “tell them”, well you get the point! Disclose everything! On this week’s Friday Coffee Break we not only cover the proper disclosures that you need sign but we also cover what kind of language is considered “too vague” on a short sale acceptance letter, how to renegotiate a lower offer after you have already gotten a short sale acceptance letter, the important steps you need to take when you reselling a property to an FHA buyer so you DON’T screw up your deal, a clarification on the HAFA program and what investors the program covers and much more.  Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

Interested in attending our Short Sale Bootcamp in Orlando, FL on March 25-28th? Click here to learn more.


]]> http://fridaycoffeebreak.com/2010/03/disclosure-disclosure-disclosure-what-exactly-do-i-need-in-writing-to-protect-myself/feed/ 2