Archive for the ‘PreForeclosures’ Category

May 9th, 2011

Dwan Twyford – Preforeclosures and Short Sales Done For You Program

Dwan Twyford

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Dwan Twyford – Preforeclosures and Short Sales Done For You Program

Dwan Twyford knows that foreclosures are a common problem today in recession-weary America. However, Dwan actually sees a silver lining to the the bleak picture facing the US today, because he has mastered the art of of making money from foreclosed properties. However, anyone who’s actively interested in investing in foreclosed will no doubt come across one major concern, and that is finding deals with equity. Here are some important insights offered by Dwan on pre-foreclosures and the process of doing short sales.

What Is A Short Sale?

With so many foreclosures out there today, one of the sad facts is that most homeowners actually owe what their property is worth. This explains why most investors suddenly walk away from deals that have no equity, because they either don’t know what to do with a no-equity deal. In this type of situation, a short sale can be done. What exactly is a short sale? A short sale, according to real estate experts like Dwan Twyford,  is a means of getting the bank to accept less than what is owned as payment in full.

To Get FREE Real Estate Training from Dwan Twyford and a special Real Estate Investing bonus  click here

There are actually plenty of steps to ensure success when short selling mortgages. First, the real estate guy must be able to have the homeowner under control. This means that you can buy the mortgage and finish the foreclosure process, but you still cannot buy the property, because you will still need to work hand in hand with the homeowner if you plan to short sell a mortgage.

How You Work Out A Short Selling Process – Dwan Twyford

Here’s how the short selling process works. A homeowner will call the real estate agent to say he or she is in foreclosure. The agent meets the homeowner and has him or her sign an Authorization To Release form,  which gives the bank permission to speak to you about the account.

For example, if the homeowner owes the bank $95,000, then you, the agent,  are going to offer him or her $50,000. Next, you call the bank and talk with the guys and girls at the Loss Mitigation Department. This department tells the person handling the foreclosed homeowner’s account that you are helping the owner with his foreclosure, and you are willing to pay just $50,000 as payment in full. You fax the $50,000 sales contract tot he department,  along with some photos of the residence, as well as fill out a net sheet, which the company will provide you.

The next step, according to experts like Dwan Twyford,  is that the bank reviews the information and makes a decision afterward.  If ever the bank counters with an offer at $65,000, you counter back with a $55,000, and they accept. Banks, according to Dwan Twyford and other real estate experts, would rather short sale a mortgage rather than go to the tedious process of bringing the case to court. Banks of course, are not in the business of owning properties, especially lots of foreclosed mortgages.

To Get FREE Real Estate Training from Dwan Twyford and a special Real Estate Investing bonus  click here

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