Thursday, January 31, 2008

Gerald Romine's Politically Incorrect News


Hey Friend,

Wow, I've been besieged with investors dying to know about this new website that teaches them everything they need to know about short sales so they don't have to spend 5K on a Foreclosure or Short Sale Boot Camp!

UREI investors are losing sleep (no kidding) with anticipation for the UREI Training event.

The good news is we are scheduled.



Wednesday February 13th, 2008
Eastern: (9:00-10:30 PM)
Central: (8:00-9:30 PM)
Mountain: (7:00-8:30 PM)
Pacific: (6:00-7:30PM)

Space is limited.
Reserve your Webinar seat now at:
Gerald's Kick Arse Training Call For UREI Users And Newsletter Subscribers

The call is described in the email below. UREI users that want to participate on the call see the info below (this will allow you to talk and interact with me on the call).

Non UREI Users may submit their questions below for the Q & A Session.

Gerald Romine

PS - February 13th is two weeks away and I wanted to give you advance notice about the training in case you need to re-arrange your schedule.


If you haven’t survived/thrived a market crash you are not an investor! Harsh maybe... but success is something that can be sustained.

My investing started in the 1980’s and I’m not some Johnny come lately to real estate investing. I’ve lived and prospered through every type of real estate market. I'm excited about today's market but everything is not as easy as some make it out to be.

But let me be perfectly clear…

You must be willing to make changes in how you do your real estate business to keep up and change with the times. If you fail to make changes you will perish.

Coming soon I will conduct a FREE webinar for UREI System Users and I have decided to allow all of my subscribers to access the webinar. This will be pure education, training, and how to information.

Some of what I will be covering:

  • What is happening in the market right now.
  • What the banks don’t want the public to know.
  • What’s going on with Short Sales and Why.
  • What you must be doing right now or you will perish.

One of the things I will reveal is the secret formula GMAC and other lenders use when discounting loans. Have you had tried shorting loans on properties that were upside down and the lender is still insisting on a payoff that seems insane? How about seconds that should take $1000 and kiss your arse but they come back with some crazy number on a worthless second?

I’ll explain what the lender is doing and why. I recently had an in depth tell all discussion with a Recovery Manager where he told me the inside formulas and more than you can even imagine. I'll even tell you why he told me which is an amazing story and lesson in how I do business!

Questions and Answers

UREI System Users: I am going to give a select number of UREI System users the opportunity to join me on the call live if they want to share for everyone's benefit what’s working in their real estate business. Those selected will be on the call live with me.

I encourage UREI users to share because those who share will benefit the most. It will give you the opportunity to have myself and other successful investors comment on what you are doing and how you might be able to make it better. Still, some people want to keep everything top secret so it is up to the UREI users to step up to the plate.


Non UREI System Users: May submit any questions they would like me to answer. I will select the best questions and answer them live on the call.


Note: Only submissions within the next 24 hours will be considered.

The webinar date will be announced in the near future and may be on short notice.

If you know me you know this is a call you will not want to miss!

Now Go Buy A House!

Gerald Romine

NOTE: This is a post-only mailing. Replies to this message are not monitored or answered.


Update Profile/Email Address / Instant Removal With SafeUnsubscribe





KickAssRealEstate
1933 S Peppertree Drive
Gilbert, AZ 85296Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet.
Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet.

Wednesday, January 30, 2008

Gerald Romine's Politically Incorrect News

Gerald Romine's Politically Incorrect News


Hey Friend,

Man oh man... have I got some wild information to share with you on my upcoming webinar where I will launch our new web site that will completely eliminate the need to attend short sale and foreclosure boot camps and seminars. Everything an investor or homeowner needs to know about short sales and foreclosures will be available for FREE.

You will be receiving your webinar invitation soon!

For now please enjoy and article from the site.


Necessary Short Sale Items From The Seller

When I first started doing short sales years ago I would meet with sellers to go over all of the details and gather all the information I needed. It literally took me hours to travel to the property and meet with the sellers. This is a valid approach and I encourage you to do the same, at least a few times.

As my investing and marketing skills improved I changed to a system where I conduct almost all business over the phone and use email, fax, and mail to gather everything needed for a short sale. This is the most efficient system I have found.

Irregardless of how you gather the information you should get the following items signed by the seller.

  1. Standard Purchase and Sale Agreement. You must have an agreement in place which gives you a legal interest in the property.

  2. Special Power of Attorney. This applies only to the property and gives you the authority to act as if you were the seller.

    Lenders will typically ask you to complete an Authorization To Release Information(ATRI) which allows them to speak with you about the loan. I DO NOT encourage you to use ATRI's because a Power of Attorney forces the lender to deal with you as if you were the seller. The lender can not ignore you if you have a Power Of Attorney and must negotiate with you in good faith for a resolution, modification or short sale.

    This is an advanced technique and I hope you see the importance of differentiation between the two.

  3. Agreement and Statement Of Understanding. You must have the seller sign an additional agreement that clearly states many things including that you will do your best to stop the foreclosure but are in no way making any promises or guarantees.This agreement should cover risks to the seller, your option to re-instate the loan to buy the property subject to, the possibility the property will be foreclosed upon, and hold harmless language protecting you. The exact Agreement I use can be found in this system.

  4. Warranty Deed (or Equivalent depending on state). This document conveys ownership of the property and plays heavily into the negotiations with the lenders.

    This document IS NOT required to complete a short sale. However, by getting the deed to the property you now control ownership of the property which accomplishes several things. a) The lender realizes they will either work with you to get a short sale or the property will go to foreclosure. Having the deed is a power play. b) prevents the seller from ripping a deal out from underneath you after you have spent a lot of time and effort negotiating the short sale. c) gives you additional exit strategies including subject to.

    While I may hold the deed to the property and mention it in the written negotiations with the lender I DO NOT record the deed unless there is a compelling reason to do so. Just remember you have the deed for negotiation and security. Rarely do you record that deed.

  5. Financial Statement. Every lender requires a Financial Statement to be submitted with a short sale package to show the
    borrower(you) is financially unable to pay on the loan. This is an important document and helps show the lender why they
    should accept or short sale package.

The seller should provide you the following:

  • W-2's Pay Stub (Last Months)
  • Most Recent Loan Statements
  • Copy of Foreclosure Notice
  • Access/key to the house
  • Pictures of the house (email or mail)
  • Hardship Letter

With this information you will be able to prepare and submit a short sale package to the lender. With our system you will be able to prepare short sale packages in less than 5 minutes.


Now Go Buy A House!

Gerald Romine
www.kickassrealestate.com

NOTE: This is a post-only mailing. Replies to this message are not monitored or answered.

Wednesday, January 23, 2008

Gerald Romine's Politically Incorrect News

Hey Friend,

Man... people are chomping at the bit for me to announce the webinar and short sale website that will put an end to guru short sale and foreclosure boot camps. And... I think I'll be able to have the webinar next week... stay tuned because it is going to rock your world.

In the meantime please enjoy and article from the site we are about to release.

Now Go Buy A House!

Gerald Romine



Short Sale Offer & Explanation

This is part of an abundance of evidence to support your short sale offer. If you do not have our system be sure to Include the following:

  1. BPO or Appraisal explanation. I use the following:

    The BPO or Appraisal: The Market has been falling fast and many lenders are doing BPO's on a monthly basis. To be accurate the BPO or appraisal must be less than 30 days old and take into consideration comparable sales LESS THAN 90 days old, listed properties and days the market. This BPO needs to give you a price that will facilitate a sale within 90 days or less and you must be the best/lowest price property on the market. Additionally you should ask for a quick-sale value which will be a significantly lower amount.

  2. Lender may be a loan servicer. Include in your letter that the lender may be servicing the loan and the real lender may not be aware of the actual market and it's conditions. Request the loan servicing company share a copy of this letter with the lender of record.

    This is done because a loan servicer has a fiduciary obligation to protect the lender and negotiate in the lender's best interest. You are giving them new information that the lender should have. They have a fiduciary obligation to pass on this information. In practice this will rarely happen. However, you can later use this as a leverage point with the loss mitigation supervisor.

  3. Property/Owner Status. Restate you have the Power of Attorney and want to work towards a solution to avoid the foreclosure and help save what is left of the borrowers credit.

  4. True Property Value. List a financial breakdown from the Expected Appraisal or BPO amount to the True Property Value. With creativity you can justify low prices.

  5. This Short Sale Offer Is Fair. Tell them why your offer is good and better then taking the property to REO and realizing less.

  6. Your offer is an option they can take now to limit their losses. With a declining market the property could be worth less if they have to foreclose.

Done right this letter should take up less than a page and a half. The value of the page is exponentially more than the quantity.

Tuesday, January 15, 2008

Gerald Romine's Politically Incorrect News

Hey Friend,

If you haven’t survived/thrived a market crash you are not an investor! Harsh maybe... but success is something that can be sustained.

My investing started in the 1980’s and I’m not some Johnny come lately to real estate investing. I’ve lived and prospered through every type of real estate market. I'm excited about today's market but everything is not as easy as some make it out to be.

But let me be perfectly clear…

You must be willing to make changes in how you do your real estate business to keep up and change with the times. If you fail to make changes you will perish.

Coming soon I will conduct a FREE webinar for UREI System Users and I have decided to allow all of my subscribers to access the webinar. This will be pure education, training, and how to information.

Some of what I will be covering:

  • What is happening in the market right now.
  • What the banks don’t want the public to know.
  • What’s going on with Short Sales and Why.
  • What you must be doing right now or you will perish.

One of the things I will reveal is the secret formula GMAC and other lenders use when discounting loans. Have you had tried shorting loans on properties that were upside down and the lender is still insisting on a payoff that seems insane? How about seconds that should take $1000 and kiss your arse but they come back with some crazy number on a worthless second?

I’ll explain what the lender is doing and why. I recently had an in depth tell all discussion with a Recovery Manager where he told me the inside formulas and more than you can even imagine. I'll even tell you why he told me which is an amazing story and lesson in how I do business!

Questions and Answers

UREI System Users: I am going to give a select number of UREI System users the opportunity to join me on the call live if they want to share for everyone's benefit what’s working in their real estate business. Those selected will be on the call live with me.

I encourage UREI users to share because those who share will benefit the most. It will give you the opportunity to have myself and other successful investors comment on what you are doing and how you might be able to make it better. Still, some people want to keep everything top secret so it is up to the UREI users to step up to the plate.


Non UREI System Users: May submit any questions they would like me to answer. I will select the best questions and answer them live on the call.


Note: Only submissions within the next 24 hours will be considered.

The webinar date will be announced in the near future and may be on short notice.

If you know me you know this is a call you will not want to miss!

Now Go Buy A House!

Gerald Romine

PS – I'm hoping to have the call next week!

Gerald Romine's Politically Incorrect News

Ways To Prevent Foreclosure

A short sale is one of many ways a homeowner can prevent a foreclosure. Whether you are an investor or homeowner faced with a foreclosure we believe you should know and understand all of your options. A short sale is often the best option available to the homeowner but knowing all options is in the best interest of all parties so an informed decision can be made.

For the purpose of instruction we will assume you are a homeowner facing foreclosure.

Foreclosure Rules

Rule #1: Contact your lender right away to discuss your options.

Rule #2: Never ignore the lender's letters or phone calls.

Rule #3: Ask the lender for a reinstatement or repayment plan.

Rule #4: Know your options

1) Reinstatement

Reinstatement might be possible when you are behind in your payments but can promise a lump sum to bring payments current by a specific date. Call the lender and ask to speak with the workout department. The lender would prefer to have the loan reinstated and have you stay in the home then to foreclose on the property.

2) Repayment Plan

If your account is past due, but you can now make payments, the lender may agree to let you catch up by adding a portion of the past due amount to a certain number of monthly payments until your account is current.

Example. You fall 5 payment behind on your house

3) Private Money Loan

A Private Money Loan at a high interest rate is often the best solution for the homeowner because it allows them to bring the other loans current. Although the interest rate is higher it is usually cheaper to pay a higher interest rate on a small loan and keep the existing financing in place compared to refinancing a large new loan at a higher interest rate(because of bad credit and a pending foreclosure). Most private money lenders require a total loan to value ratio below 75% and are equity based lenders meaning more importance is placed on the house securing the debt than a personal credit rating. Make sure you are dealing with a private money lender and not a mortgage broker, bank, or hard money lender(all of these may charge exorbitant points and fees costing you more money). With a private money lender you keep the ownership of your house, borrow only what you need, and can repair your credit over time. Unfortunately private money lenders are difficult to find.

4) Sell Your House To An Investor

If 1, 2, & 3 are not an option then you can sell your house to an investor. On average a seller nets 85% of the sales price after taking into consideration all selling, closing, & misc. expenses. An investor will expect to make a reasonable profit but can close quickly with cash or may take over existing debt & bring the loan current. A credible investor closes quickly which starts rebuilding your credit immediately and may put cash in your pocket depending on your equity. If you have little/no equity see #6.

5) Sell Your House and Lease Option Back

This is a very popular option and must be done by a willing investor. Typically the investor takes over the existing debt or gets new financing then gives the seller the option to buy the property back at a later date for a higher amount. The seller gets to stay in the house and make reasonable lease payments while rebuilding their credit. Done right this can be a solution but the disadvantage is you lose ownership of the house and tax write offs. Another option that may be less expensive is getting a Private Money Loan. If you have little or no equity an investor may be able to do a short sale(see #6) then lease option the house back to you.

NOTE: We are not a big fan of lease optioning the home back to the owner because unless it is done correctly there is too much that can go wrong at a later date. We mention it here to cover all the options.

6) Short Sale

A short sale is when an investor purchases a property conditioned upon the lender discounting the loan(s) to a lower amount. This may be the only solution for sellers that have little or no equity or are over financed owing more than the value of the property. Make sure you work with a credible investor experienced in short sales. Do not do business with anyone that guarantees or promises results- they simply can’t because there is no way of knowing what discount a lender will accept. Many times acceptance will not occur until just before the foreclosure date. Note: If you have little or no equity it is important to start working with a credible investor ASAP because the short sale process takes time.

7) List The Property With A Realtor

This is the option of last resort. FACT: there are thousands of houses listed on the MLS that Realtors can’t sell. Average days on the market continues to climb! The foreclosure process limits the time you have to sell. You simply don’t have the time. Realtors do not understand options 3, 4, 5, and 6. Realtors increase your costs with exorbitant commissions and most seasoned investors avoid working with Realtors on short sales.

Friday, January 11, 2008

Gerald Romine's Politically Incorrect News

Hey Friend,

If you haven’t survived/thrived a market crash you are not an investor! Harsh maybe... but success is something that can be sustained.

My investing started in the 1980’s and I’m not some Johnny come lately to real estate investing. I’ve lived and prospered through every type of real estate market. I'm excited about today's market but everything is not as easy as some make it out to be.

But let me be perfectly clear…

You must be willing to make changes in how you do your real estate business to keep up and change with the times. If you fail to make changes you will perish.

Coming soon I will conduct a FREE webinar for UREI System Users and I have decided to allow all of my subscribers to access the webinar. This will be pure education, training, and how to information.

Some of what I will be covering:

  • What is happening in the market right now.
  • What the banks don’t want the public to know.
  • What’s going on with Short Sales and Why.
  • What you must be doing right now or you will perish.

One of the things I will reveal is the secret formula GMAC and other lenders use when discounting loans. Have you had tried shorting loans on properties that were upside down and the lender is still insisting on a payoff that seems insane? How about seconds that should take $1000 and kiss your arse but they come back with some crazy number on a worthless second?

I’ll explain what the lender is doing and why. I recently had an in depth tell all discussion with a Recovery Manager where he told me the inside formulas and more than you can even imagine. I'll even tell you why he told me which is an amazing story and lesson in how I do business!

Questions and Answers

UREI System Users: I am going to give a select number of UREI System users the opportunity to join me on the call live if they want to share for everyone's benefit what’s working in their real estate business. Those selected will be on the call live with me.

I encourage UREI users to share because those who share will benefit the most. It will give you the opportunity to have myself and other successful investors comment on what you are doing and how you might be able to make it better. Still, some people want to keep everything top secret so it is up to the UREI users to step up to the plate.


Non UREI System Users: May submit any questions they would like me to answer. I will select the best questions and answer them live on the call.


Note: Only submissions within the next 24 hours will be considered.

The webinar date will be announced in the near future and may be on short notice.

If you know me you know this is a call you will not want to miss!

Now Go Buy A House!

Wednesday, January 2, 2008

Gerald Romine's Politically Incorrect News

What time is it right now? Write it down as this may be the defining moment in your life.

I am as serious as a heart attack. What I am about to say could change your life:

“Only 14 People Will Spend 3 Days With Me For My ‘Step-By-Step’ Real Estate Wealth Explosion and Asset Protection PRIVATE Seminar.”

You’ve never heard of anything like this because there has never been anything like this available. Only 14 people will be accepted because this is a private seminar about implementation and it can not be done in large scale to the masses.

Imagine the power of being shown my extreme income secrets like earning 42% fixed on your money! How about walking away from this event with complete asset protection in place? I’m talking about having all your asset protection and estate planning entities set up so you are protected like the Kennedy’s and Rockefeller’s. That’s right, you’ll actually leave with the your asset protection and estate planning entities in your hands PLUS the knowledge and understanding on how to use them… in other words complete and total asset protection!

Warning: Only 14 people will be permitted to attend this private seminar on extreme income explosion and asset protection.

To see all the details on what will be covered and how you can apply check out – www.nobsassetprotection.com.

Now go buy a house,

Gerald Romine

PS – This private ‘Step-By-Step’ Real Estate Wealth Explosion and Asset Protection PRIVATE Seminar is limited to just 14 attendees. It will be private. It will be intense. You will be blown away by the experience. I guarantee it. Applications are time stamped and hesitating even 5 minutes could cost you this phenomenal opportunity. Take action now - www.nobsassetprotection.com.

Now Go Buy A House!

Gerald Romine

Gerald Romine's Politically Incorrect News

Last week Treasure Secretary Henry Paulson announced the “freeze” program where mortgage lenders will freeze interest rates on a limited number of subprime loans. It’s all dressed up and sounds good to the general public but this is really nothing but another fraud and cover-up!

This fraud is just like previous bailouts and has nothing to do with US house prices, the average American, or keeping families in their homes. Sorry, but anytime something is offered in the best interest of the public you can smell something fishy.

The real purpose of the freeze is to prevent the owners of the mortgage backed securities from suing US banks and forcing them to buy back the worthless mortgage securities (loans) at their face value.

Example: Let’s say 100 million dollars worth of loans were made and the package was sold. The face value is 100 million to the owner of the mortgage backed security. But now the package has a value of 50 million dollars and the owners of the securities are not happy because they are losing money hand over fist.

The problem is if the US Banks are sued and there was fraud involved in the origination process (it was rampant) the investors in mortgage bonds have the contractual ability to require the banks to buy back the loans at face value.

The 5 year freeze is the banks attempt to fix the problem. This will allow the banks to go back and refinance fraudulent loans with the consent of the owners of the mortgage backed securities. Why is this important? Because if the loans are refinanced with the consent of the owners of the mortgage backed securities they can not later claim fraud!

Right now there is a HUGE game being played and most people are not aware of it.

How does this help the investor?

Simple. We can capitalize on buying properties subject to with fixed rate loans on properties that cash flow. Owners will refinance ARM loans into fixed rate loans and try to survive and hang on. Some will. Some won’t. The bottom line is our pool of subject to properties will be increasing in the coming months.

All we have to do is analyze the properties then take over the ones that make sense. This lending fiasco is far from over as are the ways we can profit from it.

Now Go Buy A House!

Gerald Romine

PS – If you want to know how to buy Subject To watch this training video.