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Foreclosures Are Forcing Many to Give Away Pets

Foreclosures are largely responsible for the economic downturn and this is causing many to give away pets as they cannot cope with their own lives. It is often a heart rending decision.

One of the animal victims is Julie a pit bullterrier. She had to be removed to a home in Orange County because her owner could not look after her anymore when indifferent health and huge medical bills ripped apart life. The pit bull had to go on languishing for months in the kennel as the breed has a certain stigma attached to it.

The same story with variations is being enacted all over the country. Financial downturn is forcing many to part with beloved pets and this is leaving a psychological mark on children.

Experts advise that one should think in terms of the long term welfare of the pets. As soon as one begins to get signals about financial troubles it is better to hunt for a good home while there is time. There are many other reasons that may cause this decision to be taken – allergies, illnesses in the family or any other personal trauma.

The first thing is to look around in the extended family and among known friends someone who will keep the pet. The Society for the Prevention of Cruelty estimates that about 1 million dogs and cats are facing potential danger of becoming homeless. If the animals are given away well ahead then the children will not go on suffering about what happened to the beloved pet. This unknown factor can be especially agonizing. But if the new home is known then the pain can be eased maybe with some occasional visits. That would be the ideal solution.

Riverside County is one of the worst affected regions. The Riverside County Department is fervently requesting evicted foreclosure victims either to somehow keep their pets or to find someone who will house them for the time being at least. More than cats it is the dogs that pose greater problems. The shelter has made a list of all the apartment units where dogs will not be refused. So long as the dog can be taken for a walk lack of garden or yard space is no problem.

Alan Entin formerly of American Psychological Association said, “Giving up a pet may be the worst thing. They really help reduce stress," he says. Losing a pet when life is already stressful may just make things worse.”

Tips for buying a foreclosed home

It doesn’t matter where you want to settle and grow roots or invest in real estate — foreclosures are scattered throughout the United States and ripe for the picking. Finding the one that is right for you, however, is the true challenge.

Just because a property is termed a “foreclosure” doesn’t mean it’s the best deal available. On the contrary, there are some bank-owned listings out there right now that should not be considered deals because, when compared to the rest of the inventory out on the market, they simply don’t stack up.

So what makes a great real estate deal?

That important question is one that we answer in detail in our May 2009 edition of “Investment Exchange,” which we have dubbed “Prospecting for Great Deals.” Remember that “Investment Exchange” is a FREE resource that Foreclosure.com provides its site visitors.

To check out “Prospecting for Great Deals” today be sure to click here.

It sounds tired and cliché, but the tried and true adage of “location, location, location” still rings true today. Indeed, if you’re going to get into the foreclosure game, you’ve got to do your homework and buy smart.

Of course, a killer location is meaningless in terms of profit margin if you overpay. So you have to price it right and find a below-market deal, as well as finance your purchase on the cheap if and when possible.

How exactly do you do that? We tell you all about it and more in “Prospecting for Great Deals” right here.

Now more than ever, achieving the the American Dream at half the cost is a very real possibility. There has never been an easier, more exciting and lower risk time to buy. But these conditions can’t last forever … the time to act is NOW!

To sign up to receive our educational real estate newsletter automatically each month via email at no cost click here.

How to make money wholesaling houses

Unlock the secrets to one of the best real estate investment strategies of 2009 and beyond: Wholesaling houses.

Sharon Restrepo — who has more than a decade and a half of experience in the industry — is going to teach you how to make serious money fast with real estate, buying and selling properties without ever even owning them, during this FREE 90-minute online training presentation, which is scheduled for Thursday, May 28 8 at 4 p.m. ET.

That’s right, you can make instant cash wholesaling houses in your area with no money down with the detailed instructions and proven plan of attack that Sharon will outline in “Wholesaling Houses for Monster Profits.”

To register now at no cost CLICK HERE.

Wholesaling real estate is quickly emerging as one of the hottest investing options in today’s market because it is risk-free and it has the potential to be an enormous cash cow. Find out how you can become the “middleman” in hundreds of these lucrative real estate deals, lining up buyers and sellers to create your own “Monster Wholesaling Machine.”

Here are just some of the topics that Sharon will cover:

• Learn how to earn cold hard cash RIGHT NOW … no excuses!
• Crossover to investing using the most popular investing technique
• Crack into the business with no real estate license and little capital
• Create win-win solutions for you and a seller
• Grow the capital you need to build your own portfolio

Definitely catch this potentially life-changing educational presentation — it’s instant cash at your fingertips … and it won’t cost you a single penny!

Register for “Wholesaling Houses for Monster Profits” before it’s too late. Spots are limited and filling up FAST! CLICK HERE.

Webinars are LIVE educational sessions that let participants see, hear and interact with real estate experts right from their personal computer screens. In fact, Webinars are driven in part by visitor feedback and questions that are posed during the sessions. For more information and course offerings click here.

Victoria Gotti house on Long Island headed for foreclosure

Victoria Gotti — the daughter of the notorious late Gambino crime family boss John Gotti — recently received bad news about the status of her six-bedroom Long Island mansion in Old Westbury, N.Y., which is situated on six acres in an “exclusive enclave.”

NYDailyNews.com has the scoop:

“[Gotti] owes JPMorgan Chase about $650,000 and hasn’t made a payment in two years…. A four-judge panel of the Brooklyn Appellate Division has granted the lender’s motion for summary judgment on the foreclosure….”

The reason provided for the default is that Gotti has been mired in a messy divorce from ex-husband Carmine Agnello who, according to the report, has failed to pay court-ordered child support for their three children. In addition, Agnello allegedly took out a $856,000 loan against the home several years ago and stuck Gotti with the bill without her knowing about it.

Here is her take on the situation:

“I won a house that was a booby prize riddled with debt…. [Agnello] still owes the federal government nearly $10 million and yet they still allow him to live this way?”

This is not the first time Gotti has faced foreclosure on the home — back in 2005 she agreed to pay the bank “$50,000 up front and $25,000 a month” to rescue it from repossession. Those payments, however, did not last long.

Aside from being John Gotti’s daughter, Victoria is perhaps best known for her role on “Growing Up Gotti,” which was a popular reality series that aired on A&E that followed her hectic life, raising and dealing with her three teen-aged sons, Carmine, John and Frank. The show was canceled in 2005.

Gotti — who was also a gossip columnist at the New York Post and for Star magazine — has been trying to sell the home for several years for about $3 to $4 million. She has not had much luck, but that will hopefully change soon before losing it altogether.

Buyers finding their dream homes thanks to Foreclosure.com Community Experts

Someone might want to tell the members of the Foreclosure.com Community Expert Program (CEP) that the national housing market is struggling. That’s because they won’t be able to tell based on their booming businesses.

Indeed, Community Expert Program agents throughout the United States are enjoying record sales, closing major real estate deals left and right. In addition, the buyers who connect with them through Foreclosure.com are moving into their dream homes at prices they can afford.

It doesn’t get much better than that.

The Community Expert Program helps real estate professionals close more buyer transactions through greater exposure and increased market awareness. We market individual agent services to literally millions of potential buyers as their local real estate expert on our Web site for less than the cost of one open house ad.

Our online destination is ground zero for buyers in this market — it is where millions of buyers begin their home searches for the best deals in their areas. The name, Foreclosure.com, says it all.

We can tell you about how successful Community Expert Program agents are until we’re blue in the face, but it might be better if we let you hear it straight from them. Check out our latest testimonials after the jump, as well as instructions on how to get in on all the red hot action.

Community Expert:
Joe Martin
Phoenix, Arizona
101 (12 exclusive) CEP zip codes with 61 homebuyers to date

“We focus our business on REO’s and foreclosures, so foreclosure.com appeared to be a perfect fit. We joined their buyer lead program recently and currently are working 61 prospective buyers from their buyer lead system. So far, I’m thrilled over the results and keep begging for more exclusive zip codes in my area. Thanks for the excellent venue to attract buyers and help us sell our bank owned listings.”

Community Expert:
Sharif Chowdhury
Rancho Cucamonga, California
Eight CEP zip codes with more than 30 homebuyers to date

“I have signed up with Foreclosure.com Community Expert Program and Right now I am subscribed to 8 Zip codes, plus I am also subscribed to Broker Network with 50 Zip codes. I thought, I should mention this, this is the BEST membership I ever had, I get lots of email inquiry, lots of calls, out of these I have over 30 good Contracts in last 2/3 months and I am working with 4 Active buyers. Thanks Foreclosure.com!”

Community Expert:
Merri Perry
Las Vegas, Nevada
20 CEP zip codes with 20 homebuyers to date

“Just started using the system, tomorrow I am taking out a client that wants to have seven homes in escrow in a week. Love it!”

Community Expert:
Mike Wrigley
Blackhawk, California
Six CEP zip codes with seven homebuyers to date

“I have tried just about every lead generation company for real estate and spend tons of money with absolutely no results until I came across foreclosure.com. I get calls constantly from people trying to get the best deals that are out there and they see this on foreclosure.com they call me and next thing you know I am out there showing them property. For the amount of money I spend now its really worth it to be part of foreclosure.com. Love it, Love It!”

Community Expert:
Jennifer Meyer
Roseville, California
10 CEP zip codes with two homebuyers to date

“I initially signed up to sponsor 5 zip codes on Foreclosure.com on April 10th. Within 2 days, I began receiving phone calls and emails from prospective buyers. I started working with my first buyer on April 13th. I was so impressed with the quality of the leads that I signed up to sponsor 5 more zip codes on April 14th. This is the best use of my marketing dollars!”

If you are a real estate agent/broker who would like more information on the Foreclosure.com Community Expert program click here. Interested buyers/investors who would like to connect with CEPs in their areas should begin their searches right here.

Foreclosure Recap - Week #19

NBC News reported that one bright spot in the housing crisis actually favors first time homebuyers. Houses that were out of reach for a lot of people or people looking to buy in better neighborhoods for a long time found it unobtainable. The recent trouble in the real estate market has made it easier for this segment of the country to actually get into the homes that they are after because the prices are now where they can afford to get them. One person in Phoenix could not afford owning a home a year ago. Just recently he ended up purchasing a home that was valued at $220,000 last year and the price he paid this year was only $82,000. In fact the purchases made so far this year show that over 53 per cent of the purchases were to first time home purchasers.

In Washington, the Federal Housing Authority is scheduled to ask Congress for nearly $800 million dollars to help prop up the housing market with mortgage programs specifically for senior citizens. It seems that the FHA is concerned about reverse mortgages since the cost of housing is falling. A house that a senior may have had insured for $200,000 may well end up selling for less after they die than the reverse mortgage actually owes on it and that could be a real concern in the market as it stands today.

Out of Florida more people are being forced out of their homes in Pinellas Park than ever before. According to the St. Petersburg Times the local police begin making the rounds and trying to set up shelter for the homeless as early as 5 AM each day. At seven o’clock they know how many beds are going to be available at the local shelters and they begin trying to make sure as many are accommodated as they can. This is as much to get the people off the street for safety as it is for humanitarian reasons.

The Columbus Dispatch reports that three people were indicted in a tax scheme, which involved high value homes. The scheme involved tax evasion and kickbacks for the builder and several other things that the FBI is documenting and re-creating through the reconstruction of shredded documents. The overall valuation of the fraud is in the multi-million dollar level and may well climb higher as the FBI and IRS dig farther into the case. One home alone was 28,500 square feet, nine bedrooms and nine baths. So we are not talking small humble cottages.

The Fox News Network in the twin cities of Minneapolis St. Paul in Minnesota report on a program whereby Dakota County is offering a foreclosure workshop to help people who are worried about being foreclosed upon by giving them free advice that tells them of plans and available options and answers questions that they might have about impending foreclosures.

This is a positive story. It tells you how to deal with it. The fact that there are three steps to dealing with foreclosure and they are not to blame your self, look over all the options and try not to worry. The article explains how you can do this and finally that you need to get as much information as you can. Knowledge is the one thing that can make it all easier to deal with. The whole country is in this mess and being stressed will only make it worse.

The Pittsburgh Gazette brought us a piece about HGTV and the show that might literally save people’s homes. This particular article focuses on a California home where the prize money for winning is $250,000. The issue here is that the particular home in the competition for the TV show can be saved from the foreclosure if they win. If they are not the winners, then the house that they are living in may fall into foreclosure and the woman that lives there and her two teenage children might end up on the streets. The market is putting an interesting spin on this particular challenge without actually trying.

This one proves that no one is beyond the touch of the current market problems. Victoria Gotti, daughter of the famous mafia boss John Gotti is losing her 4.2 million dollar Long Island mansion to the foreclosure system. It seems that she is $650,000 in arrears and has not made a mortgage payment since September of 2006. The Daily News reports that JP Morgan Chase is foreclosing on the mansion, which was featured heavily in the reality TV show, “Growing Up Gotti”.

Fox ten brings us the story in Alabama where the state bar and the legal services department there have joined forces to try and help people in that state be able to stay in the home that they own and to help stay off the foreclosures of them. This is a plan that is of no cost and should help people stay in the homes they own and hopefully will lower the burden on the legal and foreclosure system in the state of Alabama.

NBC Channel 4 brings us a story out of Central Ohio where lawmakers are trying to pass a six-month moratorium on home foreclosures and would give the courts the next three years to modify the mortgage agreements. It also will allow the homeowners to stay in the home after it is foreclosed and would set up a trust fund to help them financially. If it passes both the house and the senate of the state of Ohio it will bring much needed relief to the people of that state.

The Miami Herald says that foreclosures there continue to soar and between March and April they increased as much as 124 per cent in Broward County. The steep increase in percentages is largely due, according to the articles sources, to the speed with which the lenders are foreclosing on the properties there. It appears that the banks have begun making quick decisions about whom they are and who they are not going to help.

Finally this week, from the Associated Press - the Obama administration has announced that they are going to expand the mortgage aid program to help the American people out during this crisis. The new things include new ways to help the homeowners by letting them sell the home for less than it is worth, which is known as a short sale or give it back without repercussion which is a deed in lieu of foreclosure. The official announcement is forth coming but it all looks promising.

Millions To Miss Out On New Mortgage Help Plans

The Obama plan ought to be applauded. It will help large numbers of homeowners. But when you see claims that millions and millions of borrowers will benefit, look out.

Why Not Streamline Toxic Mortgages?

Broad use of the FHA “streamline” concept would instantly make millions of homeowners with toxic loans eligible for financial relief and off the foreclosure rolls.

FORECLOSURE ACTIVITY REMAINS AT RECORD LEVELS IN APRIL

Foreclosure filings were reported on 342,038 U.S. properties during April, an increase of less than 1 percent from the previous month and an increase of 32 percent from April 2008.

GABRIELS AND REALTYTRAC ANNOUNCE PARTNERSHIP TO DELIVER NATIONWIDE SEARCH WITH MORE THAN 1.5 MILLION REALTYTRAC FORECLOSURE LISTINGS

Gabriels Technology Solutions and RealtyTrac today announced a partnership to deliver nationwide search with over 1.5 million RealtyTrac foreclosure listings.