foreclosures: STRATEGIC DEFAULT DOES NOT SIT WELL WITH MAJORITY - 10/24/11 12:17 PM
Recently, an article appeared locally about people who walked away from an underwater asset. They had the means to continue to pay into this black hole of an investment. By "black hole" I mean that money put in will not come back even in the years to come. After much deliberation and sleepless nights and with financial counseling, they walked away
ITS AN INNER TAFFY PULL TO DECENT FOLKS
It was a difficult decision for these people to make and all the pros and cons in regards to it came up. It caused a taffy pull within ones self. One side … (3 comments)

foreclosures: REAL ESTATE MOVIE "INSIDE JOB" OFFERS GUT WRENCHING REALITY - 10/22/11 12:34 PM
If you want to get a large does of reality in regards to the recent economic failure and meltdown caused by Wall Streeters, bankers, rating firms and insurance companies, then you want to see this movie. What hits you in the face is how our own government, starting with Reagan on forward help set-up the problem
STARTS FROM THE TOP DOWN
You see the Presidents of the United States have this habit of hiring people from all the large mega Wall Street-institutions to run government programs. Consequently, the foxes decide where the hens nest and when. The result? No regulations and … (2 comments)

foreclosures: STRATEGIC DEFAULTERS COMING FORWARD - 10/19/11 03:31 PM
More and more people who can afford to keep underwater homes are finally making the decision to walk away. Banks unwillingness to negotiate together with financial advisers reporting that it is near folly to continue paying on something that will never make sense has borrowers taking action
MAJORITY THINK IT IS A.... NO NO TO DO
A survey held recently polling people at random reported that over 90% dis-approved defaulting and walking away for moral and ethical reasons. However, what should be considered in the same breath is the remedy that all agreed to up front when contracting.
CONTRACT LAW GOVERNS...NOT … (3 comments)

foreclosures: 100,000 OWED BY BORROWER IN FORECLOSURE HOW CAN THIS BE? - 10/15/11 06:31 PM
How can someone not pay their mortgage for years and still remain in the house? Here in California, after 90 days, they file a NOD and then start the process for a Trustee sale within 3 weeks.  Unless the borrower shows some signs of responding either by moving, paying, modifying or short selling, the system should move it right along as designed.
WHAT IS NOT WORKING HERE?
Here is where it gets confusing. I attended a seminar that B of A held and one of their main points was they the investors are calling the shots not them. They emphasized that … (0 comments)

foreclosures: SHORT SALES HARDSHIP PARADOX AT BEST - 09/25/11 01:49 PM
 I remember contacting the bank right before the onset of foreclosures kicked in to negotiate a new term. Why? I had clients that were going to be out of work and couldn't afford to continue to make excessive high payments based on high interest rates. Prudence and honesty dictates calling ahead and trying to work something out
THE BANK FOLLOWS PROCEDURES
At that time, everyone was told NO to whatever you were calling in about. Remember, your paperwork including the note says what will happen if you don't perform. There really isn't anything to discuss if you go on that. After … (2 comments)

foreclosures: HAVE YOU EVER LOANED OUT YOUR MONEY SECURED BY NOTE AND TRUST DEED? - 09/22/11 07:01 PM
You know how when you experience something from the other guys perspective, you gain some insight into what they are thinking and feeling. The quote " When you come to understand a person, you stop judging them" (pearls for the soul naggar) makes sense. Investors are playing hard ball...but are they allowed to do so?
THEY ARE DOING WHAT WAS AGREED TO UP FRONT
Yes and absolutely. Your part of the transaction was scrutinized up front and then a decision was made in your favor. If something goes wrong, then their part of the transaction comes into play and it is … (4 comments)

foreclosures: BANK OF AMERICA UPDATE ON SHORT SALES AND LOAN MODS PER MY MAILMAN - 09/19/11 05:36 PM
I just spoke with my mailman who I have known for years. He has been in foreclosure with B of A for 2 years now. He has submitted three loan mods and each one failed for him, but B of A prospered just fine. I knew he would find out what I already knew, but why spoil his experience? Sure enough, he turned in his report to me just now...
BANK OF AMERICA PROCEDURES FOLLOWED
Each time he was prompted to apply for a loan mod, he followed his instructions to the tee. He also has been using a Real Estate … (5 comments)

foreclosures: HOMEOWNER HELP HOPE DIDIN'T HAPPEN OBAMA SPEECH OMITTED IT - 09/12/11 11:39 AM
I was hoping for a boost to the nearly one fourth of the homeowners in the United States that are underwater and in foreclosure or facing it from President Obama in his last speech. Not a word was mentioned. Unless housing gets well, how can anything else make a difference to the American economy at large?
HOUSING ALWAYS CAME THROUGH
Housing has always been part of any recovery in every other Real Estate cycle and jobs automatically come with it when it does. How can anyone feel good when problems of this magnitude go unresolved and unaddressed? People do not feel … (0 comments)

foreclosures: OBAMA SPEECH THURSDAY HAS TO HIT GROUND RUNNING HARD - 09/07/11 06:03 PM
The President of the United States of America. It is the most powerful position to occupy here on the planet earth. On the Presidents order during 9-11, airports were shut off all over the United States down to even small towns everywhere. Now that is Presidential power at work. I want to see that POWER at work addressing people keeping their homes, in creating jobs and in moving the economy forward with gusto
ACTION PLANS THAT GO TO WORK NOW
I want to hear and be told of action plans that are non-negotiable and they will take affect immediately. I will … (10 comments)

foreclosures: THE FOX GOT INTO THE HEN HOUSE AND HENS ARE DROPPING LIKE FLIES - 09/05/11 05:15 PM
What harm can an unregulated bank or lending institution do when they do not adhere to policy, regulation, procedure and their own business plan? Bring down the American economy quicker, faster and cheaper than it has ever been done before. He who has the gold ruled over us all right to our doom
THE RULES OF ENGAGEMENT ARE CLEARLY DEFINED
To make money no matter how you make it is not something to be proud of. Drug dealers make enormous amounts of money and any collateral damages that come out of doing so is just business as usual. I cannot excuse … (0 comments)

foreclosures: FEDERAL GOVERNMENT SUING BANKS FOR FRAUD...IT'S ABOUT TIME - 09/02/11 11:58 AM
Imagine a cat, a bird in a cage and a quiet room. Fast forward a few moments into the same room. We heard a crash. The cage is on the floor, feathers scattered about, bird is missing and the cat is licking its paws. Would you conclude that the cat was involved or did a a strange wind just blow through the window and knock everything down?
MAYBE ITS THE CAT?
Well the wind is no where to be found, but we arraigning the cat. The Federal Housing Finance Agency is suing several of the big banks for something that has … (2 comments)

foreclosures: STOP BLAMING THE HOMEOWNER FOR NOT PAYING THEIR MORTGAGE - 08/31/11 08:26 PM
Just a few short months ago, I have memory of reading here in the rain of how people who defaulted have no morals or character. I understood both sides of the argument being in the business for over 33 years years. When I was a landlord, I was pro their position. When I started renting, I had a more balanced take on the tenants point of view
I SEE PEOPLE UP CLOSE AND HEAR THEM SPEAK
I live and work in a county where there are not lots of really rich people. Just people trying to get ahead and have a … (21 comments)

foreclosures: LIFE WITHOUT SHORT SALES I WONDER WHAT THAT IS LIKE - 08/31/11 10:47 AM
Remember when Short Sales were first introduced to the Real Estate public at large.  As an agent, I knew I had to get involved. I looked at it as another thing to learn that was necessary for doing business. More and more of my clients needed help and I had to become knowledgeable about it.
MUST KNOW SS
Now, it is mandatory in today's Real Estate market place. We have accepted it like it was always here. But, it will become the LESS one day instead of the MORE. Hopefully soon. Meanwhile, it is like an open wound and it needs … (2 comments)

foreclosures: BEING IN THE DEFAULT/FORECLOSURE BUSINESS IS NOT EASY - 08/29/11 12:48 PM
I spoke with an lady who was in the business of foreclosing on people. She dealt with defaults, loan mods, trustees sales, evictions and all the rest of it. It finally took a toll on her. You see you start out by looking at paperwork and numbers. It isn't until you start talking with the people affected that your conscience kicks in
THEY HAVE A JOB TO DO
Let's be clear that there is no wrong in carrying out the breach clause in any agreement. The right to do so is clearly defined up front and agreed to by all the … (4 comments)

foreclosures: PAYING ALL CASH FOR THINGS IS A GREAT START IN STARTING OVER - 08/29/11 10:56 AM
We forget how we got here to this economy to begin with. Credit got us here. Selling something to someone who can't pay for it NOW was a false sign of things flourishing because on the back end, if someone didn't pay, then it wasn't a real sale to begin with. Capitalism supported this system because it made money in the moment for so many but the back end remains questionable
WALL STREET MADE $$$
Credit gave us a huge BOOM when introduced. People couldn't believe that they could have what they saw right there and then and a new industry … (11 comments)

foreclosures: FORECLOSED HOMES THAT ARE NOT KEPT UP PROVIDE REVENUE TO THE CITIES - 08/23/11 10:54 AM
There is always an opportunity in America to make money in just about anything you do. In other parts of the world, if someone says they have an idea to make a million dollars, they are looked at like they are crazy. In America, when you say that, people ask you how. Cities are raking in the revenue from foreclosed homes in need of repairs
CODE VIOLATIONS
If a house is in a state of disrepair, it may be subject to lien notices from the city to bring it up to code. Usually those notices are mailed to the current owner … (2 comments)

foreclosures: SOMEONE MISUNDERSTOOD WE NEED CLOSURE NOT FORECLOSURE - 08/11/11 02:47 PM
I live in a county where foreclosing is rampant and running wild. It is adjacent to another county that is doing the same. Furthermore, unemployment abounds (future not good either) and everywhere I go, people are wearing their WOE on their sleeves. How putting people in this position helps anyone is what I would like to know. This is a MORALE KILLER for all.
THE PRESIDENT TOURS THE DISASTER
You know how you read and see live coverage of the President of the United States visiting disaster areas whether Acts of God or not? He personally tours and comments shaking hands … (0 comments)

foreclosures: BANK OF AMERICA REMINDER HOW THEY CONTRIBUTED TO THIS CURRENT MESS - 08/09/11 03:32 PM
Bank of America first of all should not be allowed to use the name AMERICA. This bank is acting far from America's interests one American at a time. They are still navigating in areas and conducting their affairs in one sided defiant ways with only a single minded mandate in mind. To make money and keep making money people be damned
I MUST GO ON RECORD LESS PEOPLE FORGET WHAT HAPPENED
Has anyone forgotten that they were the ones who came up with the idea of a borrower having to be 90 days delinquent before they could even speak to them … (6 comments)

foreclosures: FORECLOSURES AVERAGING OUT TO 318 DAYS TO COMPLETE IN U.S. - 08/01/11 11:58 AM
That is not an effective or efficient way of doing any type of business. In fact, the rate has gone up from last years time frame indicating less efficiency as we go. We are getting worse not better. Some states can get it done in a unheard of 90 day period and some take as long as 3 years to complete. This is a major deterrent to the economic recovery of the United States
BANKS ARE POOR BUSINESS PEOPLE
I want to take a moment to say that it would be much worse if Real Estate professionals were not involved. Many … (0 comments)

foreclosures: I MET A MAN WHO LOST EVERYTHING...EXCEPT ONE THING: THE WILL TO KEEP GOING - 07/31/11 06:05 PM
About a few years ago, I met a man who was doing very well at all that he did. A modest man who believed in working hard, loved his family and wherever he went, he performed admirably. A good neighbor and friend and just a decent human being. Well, he got audited by the IRS and right after that lost his home to foreclosure...now what?
HE WAS AN ORDINARY MAN WHO WORKED FOR ALL HE HAD
He had manage to put away over the years $350,000 into tax deferred accounts which was to be his retirement. His accountant who he had … (4 comments)

 
Richie Alan Naggar Author PEARLS SERIES of books, on LIFE and LOVE plus Real Estate too! (People first then business! Ran Right Realty Riverside, Ca) Rainmaker large

Richie Alan Naggar Author PEARLS SERIES of books

on LIFE and LOVE plus Real Estate too!

Riverside, CA

More about me…

People first then business! Ran Right Realty Riverside, Ca

Address: 4850 Palo Verde Lane, Riverside, Ca, 92501

Mobile: (951) 201-5951

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