Seattle USEAC

Thank you to all of you who have posted your mortgage articles, especially Charles from Las Vegas Real Estate.

I need more articles. Submit yours and just click on the banner leading you to our Facebook group if you want to help promote them.

If you are from Seattle Washington, then write about mortgages in Seattle.

Take care.

Mike Dammann
Firetown Real Estate Investors
Mortgage Corner

Foreclosure Scams 101: Equity Stripping
Date Added: March 26, 2009 10:32:19 PM
Author: Charles Richey
Category: Mortgage USA: Nevada

Foreclosure rates have been rising across the country. Experts are predicting that as the economy continues to get worse, more homeowners will be facing foreclosure in the next year. With so many homeowners in foreclosure or facing the possibility of losing their home, many don’t know where to turn. Some states have taken a proactive approach and made free resources available. Despite there efforts, it has not stopped less ethical business people and scam artists from preying on beleaguered homeowners. Offers of helping a homeowner avoid foreclosure by these individuals often end up costing the homeowner hundreds or thousands of dollars and they end up losing their home anyway. Be a Savvy Homeowner The old adage of it sounds to good to be true, it probably is certainly applies to today foreclosure climate. Homeowners need to use a little common sense. If you are approached by a company or someone claiming to represent a company that will help you avoid foreclosure, do some research first before agreeing to anything. Check out the business with the Better Business Bureau and online.

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It´s not that much different than in investing in other businesses, only that the entire model is based on new construction and development of an entire unit in need to make a huge project fly. Real estate investing is just like any other business, except that the numbers are high and there is a strong need for details within the business plan. As a real estate investor you need to understand the need for detail and be able to objectively judge the current ROI as well as the long term potential based on the other participants and also the area as well as the demand within the industry for the project you are financing.