Will Obama Delay All Foreclosures?

Will Obama really delay all foreclosures until they’ve been screened by HAMP? Is this for real?

Obama may not only delay all foreclosures, but he may ban them, until they’ve been screened by the Home Affordable Modification Program or HAMP.

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Wwhat?  Is this for real?

Apparently, but it hasn’t been made public yet, officially.  That’s according to Meg Reilly, Treasury spokeswoman.
Okay, so how did we find out about it?
Also- what will happen next? Will the banks balk? How far can the government really go on this? Why have only a little over 100,000 distressed homeowners been helped by HAMP so far?

Here is some more news and reaction from around the Net.

Obama Foreclosure Program Shows Slight Gains, Though Troubling …

But with another 754000 homeowners enrolled in temporary plans, nearly three out of five homeowners eligible for the Home Affordable Modification Program have received at least temporary help in staving off foreclosure. “HAMP is doing …

Obama's HAMP Misery Continues | Mother Jones

Now while HAMP wasn’t created to address all kinds of foreclosures (which is arguably one of its flaws), a program with $75 billion in taxpayer funds behind it should do far more than help a meager 116000 homeowners almost a year later. …

The Jawa Report: Obama May Prohibit Home-Loan Foreclosures Without …

Obama May Prohibit Home-Loan Foreclosures Without HAMP Review. Isn’t this interferring in a private contract? Bloomberg. – The Obama administration may expand efforts to ease the housing crisis by banning all foreclosures on home loans …

United States President Barack Obama signs int...
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Dubai: Where Are Its Real Estate Values Now?

Has Dubai finally bottomed out? When will it be safe to invest there, if ever?

Dubai’s real estate has had a hard year. Has the real estate market in Dubai bottomed out?

Here are some very interesting reports coming in.
It’s intriguing that the experts seem to disagree on what is really going on. However, that isn’t surprising.

George Soros Dubai is the Biggest Real Estate Bubble in The World …

dubai won’t rebound, not at all mary, it is about to bust now, and that is good, dubai based itself onto investments in real estates, and did’t take care of a what i call a “intelligent market mixture” therefore they can’t lean onto the …

TheBull.com.au

Dubai’s battered real estate prices have nearly bottomed out and should start to recover, but probably not until at least next year, the head of one of the troubled emirate’s most prominent property developers says. Prices in the Mideast sheikdom … Chief executive Markus Giebel told reporters on Monday that while he did not expect a dramatic recovery in Dubai’s property market, prices were unlikely to fall significantly further. “Dubai has reached a bottom phase,” …

Price spread tightening in Dubai Marina

Price spreads for Dubai Marina apartments are likely to tighten further this year, with the current average gap between the first and fourth quartiles at Dh400 per square foot, according to a real estate consultancy. … Though the proportion of apartments sold with a value of less than Dh1m dropped to as low as 25.7 per cent at the peak of the market, this segment now represents significantly more of the Dubai Marina market at close to 40 per cent,” Hansra added. …

Dubai World

This is a photo of Etisalat Tower 2, located a...
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Dubai was in full boom and its market was just out of the world and after this six year bloom Dubai’s real estate market was declined. Dubai government took the action and they give some instruction to the company in order to control …

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Stop Bad Landlording Laws

You can stop bad landlord laws but you need to be on top of new legistlation. Here are some examples.

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You can stop bad landlording laws.  That’s if you are aware of what is going on with your local  legislative sausage making process.  You can also join other real estate investors and landlords as well as investor clubs.  Larger numbers can stop stupid legislation that can cost your profits and sometimes even your properties.

Here’s an example.

The Tennessee legislature is considering a bill, SB2814, sponsored by Sen Diane Black and HB2894 by Rep Gary Moore which will allow a utility district to file liens on a property for non-payment of bills for garbage collection.

Why is this so dangerous?

There have been some problems having  the liens removed after payments were made.

The local REINtn is fighting this and it will be time and effort well spent to make sure this bad legislation doesn’t see the light of day.  That’s the whole point.  You need to be on top of this stuff and that will save you  and other landlords a lot of grief down the road.

Here are some more somewhat strange landlord/tenant laws from U.K.

propertytalk Live! – Local Housing Allowance paid direct to …

As a Buy to Let Landlord I automatically refuse any applications from people who are on benefits. Before this legislation I was quite happy to take on the unemployed knowing that the rent would be paid from an official source. …

No let up in regulation for landlords

Landlord Assist has something to say about the level of regulation (existing and proposed) in the buy-to-let sector. The eviction and rent recovery specialist has spoken out regarding new measures outlined recently by housing minister, …

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5 Key Steps for Real Estate Investment Planning

Real estate investors are still buying and selling even in this economy. Here are 5 steps to help you.

There are still plenty of  opportunities to make money in real estate.  We may be in a recession, but real estate investors are still out there buying and selling. 

With the help of online tools, websites and resources you’ve got a tremendous amount of the right kinds of  information  at your fingertips.

Whether you’re an experienced real estate investor or a part-time newbie just getting your feet wet, the following five key steps will aid you in reaching your goals. 

 Key #1  Define Your “Target”

 Clearly list and explain what you want to accomplish with your real estate investing.

 Naturally we think about what we want to accomplish with America’s #1 Millionaire- Maker business.

But did you ever list specifically in terms of money, flipped rehabs or buy and hold appreciation properties?

This principle and simple activity applies to a fixer-upper rehab, a pre-foreclosure, foreclosure, REO, or a buy and hold appreciation property.

Key#2 “Define the Cost”

 You must “define the cost” in terms of tools, recourses, and people you need to reach in order to accomplish your real estate investing goals.

 How much will your investments cost per hour, per day, per week, and per month?

 Also, if you are a buy and hold investor, how much will it take in terms of cash flow to operate your rentals?

 Sit down and put all your ideas on paper before buying a rehab or foreclosure  so you won’t be taking a direct hit to  your wallet.

 Key #3 “Make a List”

 To create your own tailor-made real estate business system, you must list off every distinct or moving part connected with your investments, from the first ideas to the profits.

Listing helps you solidify your goals so that you can flesh them out.  The more realistic they become the easier it will be for you to reach them. 

 Key #4 “Prioritize”

 Put all the items from #3 in order staring with the most important ones. 

 If a furniture maker is building a table, he must work in planed order or all will be chaos.

 Now you’re ready for another person to look at your plan.  See it your friend or mentor has any suggestions on what you may have left out. 

 It’s amazing how another person can zero in on some obvious crucial components you might have overlooked.  A fresh perspective can often make a big difference in the success of the investment.

 Key #5 “One Step at a Time”

 Where do most people miss it? Why is it many would be real estate investors quit before they can actually get started?

 They are trying to do too much.

 You have to proceed in order and you can’t do everything yourself.

 Don’t’ try to do two jobs at the same time, even though multi-tasking is all the rage. 

For example, taking care of a tenant’s roach infestation on your cell phone while you’re waiting to see a banker about a loan or a REO and then attempting to do due diligence on your laptop is an overload.

 Also, flipping one property while rehabbing another  don’t usually mix well.  It can be done but it’s not for beginners. 

 The best way is to get things done and out of the way before moving on to the next task.

 Investing in real estate efficiently and productively is not rocket science.

 The secret is to do it carefully with  step-by-step planning while paying attention to details.  This will greatly increase your chances for success in America’s #1 millionaire making  investment. 

 

Real Estate Tax Answers: A 1031 Exchange

Is the 1031 tax exchange still a good idea or do we need to rethink our real estate tax strategies?

We all need solid real estate tax answers.  The 1031 Exchange often comes up when real estate investors discuss tax saving strategies.  Many real estate investors have been using this tax break for years.  Is it still worthwhile?  Or do we need to rethink our tax strategies?

Here is some valuable information from across the web as experts and real estate investors discuss this explosive issue.  (Please note:  Always seek legal advice from a professional attorney. These  links are for information purposes only.)

2010 Tax Strategies Every Investor Should Know

D. 1031 Exchange-When purchasing/acquiring a property by more than a single investor, partners should consider whether it would be worthwhile to incorporate more than one legal entity to hold the property. … E. Finally, real estate investors should be aware that in 2010 there is a one-year moratorium on the estate tax exemption. This means that a trust or family limited partnership can leave an unlimited amount to heirs without concern that any amount of the bequest …

Need An Alternative To The 1031 Exchange? Consider A CRT …

The CRT strategy includes several benefits that often outweigh those of the 1031. This strategy also provides substantial income and estate tax benefits and the potential to receive an increased income compared to selling property, …

1031 exchange 7 options

If you, as a real estate investor, do a traditional 1031 exchange, you must buy a property of at least the same value as the property which you sell. Yes, you do defer the capital gains tax owed, but this often means obtaining a new …

Real Estate Glossary – 1031 Exchanges Explained

The number 1031 refers to a section of the internal revenue code that deals with real estate tax issues. Specifically, this code deals with the exchange of property based on the deferred recognition of capital gains or losses when the …

1031 Tax Exchange Frequently Asked Questions | fiftiesparties.com

Is there a disagreement between facilitators? Most definitely. As in any professional discipline, the capability of facilitators will adapt based ahead their exchange data, experience and very estate and/or tax familiarity. …