foreclosures: MAKING SENSE OF THE FORECLOSURE MARKET - 09/30/10 11:36 AM
 A home owner bought a home 5 years ago with a 30 year 8% fixed rate mortgage.
The couple's credit was not perfect so they went with a higher interest rate loan in hopes of straightening out their credit and then refinancing into a lower interest rate loan in a couple years, as has been a common practice for the past 25 years.
 The couple both had jobs and were earning $14 per hour average each, $28 per hour together and the wife's job provided full medical benefits.  Last summer the company the wife worked for moved … (0 comments)

foreclosures: Another name for Stimulus Money - 09/18/10 10:50 AM
A more appropriate name for the Stimulus Money that was handed over to the Banks, that ultimately went to a couple hundred CEOs in the form of bonuses, may be "Hush Money".  If those CEOs went before the public and told which Politicians they have been paying off, heads would have rolled ...

If tax payers will bail out Wall Street, why do they refuse to bail out Main Street?
I just wanted to make a comment regarding the so called "Tax Payer Bailouts and Stimulus Money".   
First of all I agree that the Government is using taxpayer money to bailout the huge Banks and Corporations, but I hate it when the media says things like, "The tax payers are still waiting to be paid back a billion dollars from some bank, or the tax payer just got paid back over a billion dollars in stimulus money".   If I, a tax payer, … (0 comments)

Many incentives are now being considered by various banks, including Fannie Mae.  Some the incentives they are considering to help sell their foreclosures faster, include reducing the interest rate by 2% over the 1st 2 years.  Not only are many foreclosures being sold at 50 - 60 cents on the dollar, or less, but they are now offering incentives on top of that?
Why aren't these incentives being offered to the current home owner in an effort to avoid foreclosure!!!
Chances are excellent that the current home owner could make the payments at 50-60 cents on the dollar plus incentives!!!
Most of the wealthy … (5 comments)

foreclosures: HOW TO STOP FORECLOSURES IN AMERICA!!! - 04/22/10 10:19 AM
In a "Perfect World" Americans would not count on the Government, but would stick together to solve an economic problem. 
What if you as a Real Estate agent received a call today from a buyer who said they wanted to buy a home but do not show them any Foreclosures or Repos!  When you ask why they reply "Because we don't want to profit off the misfortunes of our fellow man, bad Karma etc".
WOW!  Can you imagine what that would do to the big banks if they couldn't unload their foreclosures!!!
They would be forced to work with the home … (2 comments)

Come tax time again, remember to add a little extra for all our Senators & Congressmen who voted themselves another pay raise, in the midst of the worst recession in 40 years!
When the Oil Companies were allowed to operate without restrictions and jacked prices to unaffordable levels, contributing to the foreclosure epidemic that has resulted in major problems with the economy, we are still hearing how the Government intends to step in and some how force the big banks to help with loan modifications.  They have been feeding the American people this line for over 2 years now, and help is "to little to late" for the majority … (1 comments)

I have been told, by an attorney, that an individual can sell their home, as long as it is closed prior to the Foreclosure Auction date posted on the Foreclosure notice? An individual who is being foreclosed on has to be given 3 - 4 months prior notice from their lender.
It would be most advantageous to most consumers to put that home on the market at a price lower than price of all other comparable homes currently on the market in their neighborhood and stipulate the home must close within 30 days!
Ex: You owe $100,000 on your mortgage.  Homes like yours … (1 comments)

foreclosures: ARE YOU A HOME OWNER, OR A TENANT? - 06/08/09 11:44 AM
What is a Homeowner? 
Millions of people are being served with Foreclosure notices and are finding out they don't really own their homes!
If you own your home free and clear of all mortgages or attachments, you are a homeowner.  
If you live in a home and are paying a mortgage, you are not a home owner, you are actually "Leasing" the home from the Bank.  If you miss a payment or default in any way, the Bank can take their property back!

When will the truth be revealed?A man took out an adjustable rate mortgage. His company moved his job over seas and he had to take another job at 1/2 the salary.  During his transition, he missed 2 mortgage payments.His monthly payment was $1,065 per month at an 8%, 30 yr. fixed rate.With his new job he could still manage a payment of $800 per month.His lender would not work with him and forced him and his family from "their" home.  The lender spent tens of thousands of dollars going through the foreclosure process.They sold the house for 60% of market value. The home was purchased by … (3 comments)

foreclosures: Who Really Owns Your Home? You or the Bank? - 06/03/09 09:53 AM
A past client of mine who had purchased a home thru my Real Estate company 7 years ago, called me to go list his home.
He explained that he had been laid off and had to sell before the bank took his home.  He had made his mortgage (Rent) payments on time for the past 7 years.  He was late on two payments last year, and his lender (Landlord) would not accept another payment.
Seems he was just renting the house from the bank all those years! 
People need to remember, the house is not yours until it is paid off!

foreclosures: Memorial Day 2009 - New Corporation Forming - "AMERICANS FOR AMERICA" - 05/25/09 11:35 AM
As a Vietnam Veteran I am beginning to feel that many Americans are in the middle of a War from within! 
I am not a Radical, but I do realize that our country has been allowed to go down for so long, that Radical action may be required to take her back!
As a Real Estate Broker I wonder, who will I sell houses to if no one has a job?  Should we wait for the Government to do something, or should the AMERICAN PEOPLE act now, before it's to late?
Can we the people do anything on our own, or do we have to rely on … (0 comments)

foreclosures: HUD Repo Buyers Beware - 05/06/09 08:44 PM
A few weeks ago I wrote an offer for my client on a HUD (Dept of Housing and Urban Development, Cityside Management), repo.  To make a long story short, HUD accepted their offer of $82,000.  HUD noted HUD's appraiser indicated repairs estimated at $2,200 to be done by the buyer if buyer was getting an FHA loan, which my buyer was.  About 3 wks prior to closing the buyer's lender requested additional repair estimates.  To our surprise, the estimates came in at over $8,000!  This put the property out of the loan perimeters of the buyer so buyer had to let … (1 comments)

foreclosures: TOXIC ASSETS AND WHY SHOULD I CARE? - 03/28/09 09:36 AM
TOXIC ASSETS and how do they affect me?  
What is a Toxic Asset?  Any mortgage loan made by a bank that has any risk attached to it.  Have you ever been past due on a mortgage payment, missed a payment, your credit score has dropped or you are between jobs and may be late on your next mortgage payment?  If this is you, then you are a "Toxic Asset".  
What is Uncle Sam doing to protect the Banks from the Risky loans they made? Uncle Sam is standing by, ready to purchase these bad loans/toxic assets from Banks.  In return the Banks … (0 comments)

foreclosures: Practical Solution to the Economy? - 02/25/09 12:20 PM
Let's stop playing games with the big AIGs & GMs and get to the root of the Economic problem NOW!  Give everyone who wants one, a loan refi on their Primary residence AND personal credit card debit, as of 03-01-2009,  a 30 - 40 yr fixed rate of 3.5% - 4%.  If you are out of work or income has dropped significantly over the past 12 months, no payments for 12 months.  This would repay banks and credit card companies so they could loan again and the Fed would be making more interest on their money than lending direct to banks, … (4 comments)

foreclosures: Foreclosure - What is P.M.I. and why you should be Afraid!!! - 11/24/08 08:16 AM
P.M.I. (Private Mortgage Insurance).  If you owe more than 80% of the value of your home, chances are you are paying PMI insurance, included in your monthly mortgage payment. This, government backed, insurance protects your lender in case you default on your loan.  If you are having trouble making your mortgage payment, and contact your lender to work something out, if you are paying PMI, your lender has no motivation to work with you!  When you see foreclosures selling at 50% of their value, chances are the lender took advantage of the PMI insurance that borrower had been paying for them, and the lender … (2 comments)

foreclosures: The Problem with the US Economy - 11/14/08 08:58 AM
In my opinion, the root of the problem with the US economy is the extreme number of jobs being shipped out of the country.  If you look at how many jobs have gone to Mexico and overseas in the last few years, you begin to wounder how people without jobs, or in constant fear of their jobs being shipped out of country, you can see why a growing number of people can no longer afford to make their mortgage payments or credit card payments. 
But then, how can USA labor possibly compete against $1-$3 per hour wages for goods & services???  When … (4 comments)

foreclosures: Foreclosures - 10/18/08 09:10 AM
It's not hard to see why our banks are having so many problems.
Case #1). The other day my buyer made an offer on a Countrywide Repo. The offer was for $900 less than full asking price.  Countrywide countered back at just under full asking price. My buyer accepted. Buyer's lender has already completed the appraisal, would like to do tile work and survey and wants to close within 2 weeks. Countrywide is dragging their feet and will not even return a signed, acceptance of the contract. My buyer is doing the home inspection today, but still no confirmation from Countrywide. My … (4 comments)

foreclosures: RENT vs FORECLOSURE - 09/17/08 07:44 PM
Are you having a hard time making your mortgage payments?  Consider saving your credit by renting your home out, until the market recovers!  If you have a friend or relative who would "Share their Space" with you for a few months, you might save yourself the many years of despair and hardship it will take to get a foreclosure off your credit report!  I provide property management services for North west Arkansas & East Central Oklahoma.  Give me a call.  Steve Hula. United Country Real Estate. (479) 754-3110.


Steve  Hula, All Star Real Estate - Team Hula (All Star Real Estate)

Steve Hula

All Star Real Estate - Team Hula

Clarksville, AR

More about me…

All Star Real Estate

Address: 106 S. Fulton St, Clarksville, Clarksville, AR, 72830

Fax: (479) 754-2221

Office: (479) 754-3110

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Our politicians may not be able to stop the mass exodus of jobs from the USA, but we can simply by purchasing only those items proudly displaying "Made in the USA"



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