DC Fawcett Real Estate – Views On Mortgage Payments And Foreclosure

Introduction

What is a mortgage transaction?

A mortgage transaction occurs when one is unable to pay the entire amount while buying a house and requires a loan to make the rest of the payment. DC Fawcett A mortgage is a legal document where the property is held for security. Borrower and lender are the two persons involved in the transaction.

A legal agreement is signed between the lender and borrower stating that he/she is in debt and responsible to pay the amount within the stipulated time. Failing to do so, the lender gets the property until the borrower pays the rest of the amount. The legal agreement is called promissory note.

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What is a foreclosure?

Foreclosure is a legal process where one loses his/her home due to nonpayment of mortgages. It is applicable when the borrower does not pay his installment for 3 months. It is valid up to 10 years of time period which makes the condition worse for the future lenders to select him/her as the borrower. It is a seriously depressing issue when one loses his/her home through this process, thus steps must be taken to prevent it from happening. If needed, the support can be taken from reliable agencies to solve the issue.

Causes of foreclosure:

*Financial crisis

*Loss of job

*Medical expenses

Procedure of foreclosure:

The lender should send a prior notice (i.e. 30 days before) to the borrower stating that the payment should be made immediately which is due; else the property will be transferred in the lender’s name.

There are two types of foreclosure namely judicial and non judicial

Judicial foreclosure :

Judicial foreclosure is entirely supervised by court; they send a legal notice to the borrower that payment has to be made else the property will be sold in auction for the highest bidder after the auction.

Non judicial foreclosure :

Non judicial foreclosure which does not involve supervision of court, the foreclosing party specifies the amount due and sends a notice to the borrower.

Deficiency judgement

This situation occurs when the amount to be paid to the lender is more than the property value. But the borrower is free from his debt once he pays the difference amount only.

Types of Foreclosure scams:

Consultant companies are usually involved in these scams. The ways in which fraudulent scams may occur are

*via internet or telephone

*loan transaction

*lender scam

Dc Fawcett has stated his reviews on how to overcome when there is a shortage of mortgage payments. They are

*Modify the existing loan, in addition to that there must be a certain proof that the borrower is undergoing financial crisis and own a proper household name.

*Forbearance

*Selling the property

*Giving out for rental purpose where the amount is equal to mortgage payment

Conclusion:

DC Fawcett has presented several ways on how to overcome mortgage issues and foreclosure. His virtual real estate investing  club  contains blogs where investors from anywhere in the world can submit their trades before investing his/her capital which would also help other traders from different backgrounds to know the ongoing real estate scenario better.

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DC Fawcett Real Estate Guidelines On Virtual wholesaling

Introduction

In order to avoid risk and play safe game, virtual real estate marketing is preferred by the investors as it doesn’t require any money or experience.

The advantage is that the possibility of spreading their markets vast likes short sales, REO’S, investments on commercial properties which will increase the potential on return investment through DC Fawcett virtual wholesaling.

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What is meant by real estate wholesaling?

It is a method, by which best real estate deals are determined and sent to real estate investors for which they are being paid, although it is only legal when paper work is done.

How to being virtual wholesaling?

Investors feel comfortable in earning money with minimum or no risk within short span of time, for such people virtual wholesaling is recommended as it has the following advantages

  • Less competition as virtual real estate investors are less, many markets are undiscovered

  • If local markets are saturated, investors can prefer other markets which have better options

  • No need to – buy houses , sellers , buyers, make down payments, marketing cost

  • No prior knowledge required on house repair and renovation

  • Profit margin is 100 percent

What does a virtual real estate investor need in virtual wholesaling?

  • Ensure you have a license to do the marketing safe, you can also sell and buy properties through virtual wholesaling.

  • Hiring very reliable real estate agents and contractors, it can be few or many in number because if one fails to work or show up, other agents can help you out. Give them time to send you photos and report on the property.

  • Send postcards and do mailing campaign, respond to the sellers who showed interest regarding terms, negotiate the price and mark them under contract list. Find a buyer and assign this contract, follow them up until deal closes and receive your check.

  • You can find genuine buyers online through advertising and research well before you sign a deal always and build good rapport with buyers and follow them up until deal is closed.

  • Go ahead to purchase or resell your property once you feel it is viable and worth the investment. Ensure that you sign a deal with a company which is known nationwide and title of the company is known in the market.

  • In the initial stages of investing, make investments in your local region. In the later stage, once you are familiar with the trends and strategies, start house flipping.

  • When you commit mistakes, try to learn and never repeat them again, you need to be careful while investing as there are many types of scams going around.

DC Fawcett reviews on how to prevent scam:

  • When you wholesale virtually, never sign deals in a fast manner and take time to investigate the property on a whole.

  • Though there are real estate agents to help you out, never trust them blindly.

Conclusion:

DC Fawcett, the founder of virtual real estate investing club has written blogs on virtual wholesaling, new investors can read them and know more about it.

Dc Fawcett Reviews – Buying vs. Renting Things You Should Know About Both!

INTRODUCTION

Dc Fawcett Real Estate , it is generally said that a home is not a home but a feeling. Whether you buy or rent, a home provides a place to reside- permanence for you and your family. Owning a home, you no longer have to expect the mercy of a landlord who changes terms or, even worse, sells the property. With each mortgage payment you also know you’re closer to outright owning that asset. When it comes to buying vs. renting, a variety of reasons gets clinched to both. Listed below are some of the considerations.

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There may be several concerns about renting, but there are certain significant things that you should know when you are renting a property and it includes:

  • Expected amount of rental property income
  • Annual expenses of owning a property
  • Risks involved in buying a rental property
  • Acquisition of profitable returns

While there are more than a few advantages in becoming a landlord, your way to financial independence is what makes landlordship a good option compared to renting, however, there is no denial about the concerns it encompasses of.

Dc Fawcett Real Estate – Let’s have a look at some of the things that you ought to know when you are buying a house.

Financial strength

you should be financially strong when making the decision of buying a property. For a smooth curve line, you should make sure that the monthly expenditures of yours are not higher than the salary minus equated monthly installment (EMI) towards the home loan.

Income stability

The duration of a home loan is not less than 15 to 20 years, depending upon the type of home you buy, sometimes the tenure can be even longer. In view of the fact that, banks do not give home loans without out-and-out inspection (employment record), as a prospective buyer, you should take an initiative to do your own research and know your job stability, most importantly if you are working in a private sector. Contemplating on this action, you should be considering the loan process.

Economic fluctuations

To forecast economic cycles are easier said than done, but at the same time, at the least you can expect to have a buffer of four to five years when the economy is turning around. Equities being the lead indicator of the economy, you need to have a close look at some of the factors like interest rates, stock market pick up, in case if you find things to be uncertain then it is suggested to opt for a rented accommodation.

Conclusion

DC Fawcett is far and wide familiar as the leading creative thinker on real estate trends; impacting the real estate entrepreneurial dealing. The virtual real estate investing club is its hub where so many have benefited as a successful realtor. He has held a number of seminars which throw light on demanding real estate concepts. For more details, stay updated to his blog and read his articles to know how to get into a realty dealing which is scam-free.

Dc Fawcett Reviews – Issues of absentee landlordism

Introduction

Absentee landlordism refers to the people who own a property in abroad which is given out for rental purpose as he/she stay in his/her home country. The owner can be anyone like a local investor, corporate entity or a conglomerate in abroad buys a property in overseas as it is a form of virtual real estate investment.

DC Fawcett reviews the issues undergone by a tenant in absence of a proper owner.

*Rental issues

As the proprietor is away, the tenants may not pay rent on time. But it is advisable to pay on time so as to remain in good books of the owner. This may also help in situations when you need immediate assistance from him/her.

*Maintenance

It is the prime duty of the tenant to maintain the house clean. The walls and lofts should be kept away from dust and dirt.  In case, furniture or electronic appliances is provided by the proprietor at the time of moving in, it must be kept in good condition so as to have a smooth inspection when the owner visit.

*Repairs and renovation cost

There may be situations when some repair and renovation work has to be done in absence of the owner. At that time, the tenant should be in a position to shell out the money from his/her pocket. The amount spent on repairs should be informed to the landlord when he/she is reachable. Friendly relationship with neighbors is also important as it can help during any crisis.

*Communication gap

There would be apartment meetings or some circumstances which may require the presence of the owner to communicate important information. But it is one of the biggest hurdles that a tenant should undergo in absence of the landlord as he/she is out of reach. In that case, telephone calls and messages pave way for communication.

*Freedom and friendship

Some owners may not prefer the tenants to have a pet at home. But in case of absentee landlord one may like to have it. Ensure that it doesn’t cause any damage to the house. Parties or watching television may result in noises which therefore affect only the neighborhood.

Good relationship with your neighbors can prevent yourselves from complaining to your proprietor.

The complaints accused on absentee landlord

*The only motive of the owner is to extract the economic value of the property through monthly rent and least bothered about the social welfare of the tenant who pays the rent.

*The outward flow of economic capital as he/she doesn’t reinvest in local region.

*Minimum relation towards the land and buildings as the proprietor stays far away

* Repair work is overlooked to avoid taxation.

*Generating legal problems.

The property management companies’ help in finding the tenants, collecting monthly rent and solve issues like repair work in absence of the owner.

Conclusion

DC Fawcett virtual real estate investing club has a blog which talks more about absentee landlordism, so tenants who are in need of more solutions can read the blog to tackle the tough situations.

DC Fawcett Reviews – Protocol on apartment hunting

Introduction

Searching for the right apartment that suits all your needs is both interesting and tiring. Whenever you visit a house, so many questions run on your mind but you will not be satisfied unless you find a “home” for yourself.

So here are the few criteria’s that the investors must keep in mind when you hunt for your apartment as told by DC Fawcett

  • Neighborhood and location

Neighborhood plays a major role, as one would like to have all the basic facilities like school, supermarket nearby your home. Keep in mind that commutation should be easier as travelling far everyday without any transport facility to your work place is not a good idea.  Choose a location that is safe and pleasant, talk with the people who have already moved in to get to know more about the location, landlord and the neighborhood.

  • Home inspection

Home inspection is an important aspect to be practiced by the buyer before moving into an apartment to look for the flooring, ceiling, closet and cupboard are in perfect condition as well as ensure that the apartment has all the safety concerns. Enquire about having a pet is allowed or not before moving in.

  • Budget

After the inspection, if you feel it is the right apartment, then it is the right time to think about the budget. It is good when it fits into budget if all utilities are provided with the rental payment. Spending for utilities separately other than your rent which will exceed your budget is not a good option and you need to think twice before investing on it.

  • Legal agreements

If you find any clause in the agreement misleading or ambiguous, make sure you clear with the seller before you sign the agreement.

  • Moving cost

Allocate some amount exclusively for moving cost and unexpected expenses that may arise while shifting to a new apartment.

  • Online search

It is better to reject few apartments online itself that is not suiting your needs, so that you can save time as it is time consuming to visit every apartment you come across in the site.

  • Maintaining information

In case you have visited many apartments, you may feel confused about the details, terms etc, it is good if you maintain all information in a notebook or spreadsheet.

  • Real estate agent

In case you hire a reliable real estate agent, he would have access to all the rental apartments and can take you for home inspection as most of the landlords are busy. If you are on your own, you need to contact the seller every time to fix up appointment every time.

During apartment hunting, there are many scams that you may encounter,

  • Rental scam: This is a common scam  that you may face during an apartment hunting, the scammer  pretend to be a landlord and collect all the rent, fees,security deposit from you and disappear. Do not send any cash without meeting the landlord.

DC Fawcett virtual real estate investing club has blogs about the apartment hunting which would help the investors to know more about the scams.

DC Fawcett Real Estate Reviews– Issues Of Absentee Landlordism

Absentee landlordism refers to the people who own a property in abroad which is given out for rental purpose as he/she stay in his/her home country DC Fawcett Virtual Wholesaling  . The owner can be anyone like a local investor, corporate entity or a conglomerate in abroad buys a property in overseas as it is a form of virtual real estate investment.

DC-Fawcett-Real-Estate-Issues-Of-Absentee-Landlordism-768x543

DC Fawcett reviews the issues undergone by a tenant in absence of a proper owner.

*Rental issues:

As the proprietor is away, the tenants may not pay rent on time. But it is advisable to pay on time so as to remain in good books of the owner. This may also help in situations when you need immediate assistance from him/her.

*Maintenance:

It is the prime duty of the tenant to maintain the house clean. The walls and lofts should be kept away from dust and dirt.  In case, furniture or electronic appliances is provided by the proprietor at the time of moving in, it must be kept in good condition so as to have a smooth inspection when the owner visit.

*Repairs and renovation cost:

There may be situations when some repair and renovation work has to be done in absence of the owner. At that time, the tenant should be in a position to shell out the money from his/her pocket. The amount spent on repairs should be informed to the landlord when he/she is reachable. Friendly relationship with neighbors is also important as it can help during any crisis.

*Communication gap:

There would be apartment meetings or some circumstances which may require the presence of the owner to communicate important information. But it is one of the biggest hurdles that a tenant should undergo in absence of the landlord as he/she is out of reach. In that case, telephone calls and messages pave way for communication.

*Freedom and friendship:

Some owners may not prefer the tenants to have a pet at home. But in case of absentee landlord one may like to have it. Ensure that it doesn’t cause any damage to the house. Parties or watching television may result in noises which therefore affect only the neighborhood.

Good relationship with your neighbors can prevent yourselves from complaining to your proprietor.

The complaints accused on absentee landlord

*The only motive of the owner is to extract the economic value of the property through monthly rent and least bothered about the social welfare of the tenant who pays the rent.

*The outward flow of economic capital as he/she doesn’t reinvest in local region.

*Minimum relation towards the land and buildings as the proprietor stays far away

*Repair work is overlooked to avoid taxation.

*Generating legal problems.

The property management companies’ help in finding the tenants, collecting monthly rent and solve issues like repair work in absence of the owner.

Conclusion:

DC Fawcett virtual real estate investing club has a blog which talks more about absentee landlordism, so tenants who are in need of more solutions can read the blog to tackle the tough situations.

Dc Fawcett Reviews – Benefits and drawbacks of using Reverse Mortgage

Introduction

Reverse mortgage is applicable to senior citizens who are 62 years or above to avail loan without selling the house and retains the property ownership. This method helps the old people to stay in their home after the retirement and bank pays the monthly mortgage to the lender. Once the borrower relocates or passes away or when entire property is sold out; the amount has to be settled to the lender. Reverse mortgage is the last solution during the mortgage crisis where borrower is free from mortgage interest and loan amount. It is applicable when the borrower earns minimum income and all financial expenses have to be dealt preventing from foreclosure. The method is used to fund the senior citizens who want to increase their income as their house is considered to be their largest asset after retirement. The 3 qualifying factors to avail loan are age of the citizen, value of the property and interest rate.

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Dc Fawcett reviews states the advantages and drawbacks of using reverse mortgage

Pros

  • Disbursement option (i.e. you can either take checks every month or take a lump sum from the bank )
  • Senior Citizens continue to live in the same home and entitled to have property ownership
  • The reverse mortgage funds can be used to pay the existing mortgage loans
  • Heirs of the senior citizens are not legally answerable if the loan amount due exceeds the property value and can avail home equity after paying reverse mortgage loans.
  • Tax free revenues and low interest rates

Cons

  • Taking a lump sum to cash out is not a good idea as it results in annuity.
  • Not suitable if there are younger members in a family /joint family system
  • Value of the property may decrease
  • Insurance premiums like FHA and other fees are quite expensive.
  • Decrease in equity resulting in less amount left for heirs of the senior citizen
  • Should reside in the same house until all property taxes and insurance premiums are paid, else it results in foreclosure.

Reverse Mortgage scam is usually in form of misleading information like economic stimulus notice, government lending division, FHA house benefit program which falsely state that the heirs of the senior citizens will continue to inherit the house.

Dc Fawcett has given his solutions to on-going complaints received from the investors regarding reverse mortgage. They areM/p>

*The lender is entitled to take the property ownership which is absolutely not true, the ownership remains with the borrower.

*The loan may exceed the property value is also false; the reverse mortgage scheme ensures that the heirs will not have more loan value at time of maturity.

*It may lead to eviction is not true, the time of leaving the home is absolutely borrower’s choice.

Conclusion

Dc Fawcett has thrown light on myths, benefits and drawbacks of using reverse mortgage. To master the art of virtual real estate wholesaling, the interested investors can join DC Fawcett Virtual Real Estate investing club to know more about reverse mortgage.