why you should buy a foreclosure!
Post on 15-Nov-2014
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- 1. How the average person can takeadvantage of the current realestate market opportunity by purchasing a foreclosure!
2. WHO WE ARE Prospect Mortgage LLC #1 NationwideFannie Mae HomePath Renovation Lender #2 NationwideFHA 203k Revovation Loan Lender Providing A Seamless Renovation Experience! 3. OUR MISSIONTo make the consumer aware of the benefits ofpurchasing a home and rehab/improving it.Help the Economy by relinquishing the banks of their foreclosure inventories. In doing so, rid our neighborhoods of vacantboarded up properties.Help the Environment by GOING GREEN withevery renovation project. 4. OPPORTUNITY The Average Hard Working American TYPICALLY Gets No Breaks Always Finds Out About A Good Thing Too Late Thinks If Its Good Its A SCAMNOW Thanks To HUD This One Is Real It Will Help To Solve Our Economic Crisis Only If Its Brought To The People FAST!!! 5. THE PROBLEMThe Worse Economic Crisis Of Our Era Started With Real Estate Resulted In Banks Holding Bad Loans Banking Model 1-10$100,000 = Loan Out $1,000,000$100,000 Foreclosure = $1,000,000 Frozen Foreclosures Have Banks Money Locked Up Mortgage Backed Securities 6. THE SOLUTION Fix The Banks Fix The Economy Rid The Banks Of Their Foreclosure Inventories Show The Home Buyer How And Why TheyShould Purchase ThemWHY??? The Consumer Is The Only Market Large Enough To Actually Purchase All The Foreclosures 7. This is The Biggest Real Estate SaleIn History! 8. REAL ESTATE MARKET MINDSET Two Types of PropertiesNew Construction As-Is/UsedForeclosure Related Sales Now Dominate The AS-IS Market 9. FORECLOSURES$$$Properties Sold For Less Than Worth Instant EquityListings In Majority Of Neighborhoods 10. SWEET DEALS Success StorySingle Family PurchaseBorrowers Income:$45kPurchase Price: $61.5kCost to Rehab:$65.5kFHA Loan Amount:$137kAfter Improved Value: $256kINSTANT EQUITY: $119k 11. FORECLOSURESARE SELLING!1. Investors Are Mostly Buying Not Consumers1. Why Not The Average Consumer?Misperception Fueled By MediaWait For Market To Get BetterBanks Have No MoneyNeed Great CreditLarge Down PaymentNo Fix Up Money & REHAB IS DIRTY WORD 12. REHAB IS A HUGEHEADACHE = WRONG! Buyers Are Afraid Of ContractorsDont Know How To Do RehabLots Of Work Confusing Hassle ExpensiveUnforeseen Problems Just Want To Move In!!! 13. What If?What if all the home repairs & improvements were done for you?What if all you had to do was choose what you want and want and specify how you want it?What if the hassle with contractors was eliminated?What if you did not have to get an extra loan?What if that loan was a safe loan, not a the bad type of loans that created this foreclosure crisis?What if it were relatively easy to qualify for?What if the home buyer not the investor could buy any foreclosed property? 14. YOU CAN HAVE YOURCAKEAND EAT IT TOO! 15. UNCLE SAMProvides The SolutionFHAMoney To Purchase & Rehab In ONE LOANHome Buyer Can Not Do The Work (Must Use Licensed And Insured Contractors)Hassle With Contractors Eliminated (Payment Is Upon Completion Of Work)Include Up To 6 Mortgage Payments In Loan (Where To Live During Construction) Move When Work Is Complete!!! 16. THE HUD POLICEYour Peace Of Mind 203K Consultant/HUD Inspector - Your Protector/Contractor Enforcer - Validate Estimate of Work Needed - Provide Contractor Bid Paperwork - Sign Off on Work Completed - Submit Draw Requests Home Buyers Have Peace of Mind No Longer Have to Fear Rehab HUD Police has their Back! HASSLE WITH CONTRACTORS ELIMINATED!! 17. FHA MORTGAGEEasy To QualifyAverage Credit - 620 (If not we can help)3.5% Down Payment (Can be 401K or GIFT!!)HUD Properties Only $100 Down Payment!Seller Can Pay Up To 6% Of Your Closing Costs1-4 Unit Generous Loan Limits$417,000 SFR - $780,000 4-Unit (Cook County)2 yrs Bankruptcy and 3 yrs Foreclosure - OKCo-Signers Are Allowed 18. REAL OPPORTUNITY Time For Average Hard Working American To Get A Break! To Learn About This Good Thing NOW! To See That This Is Not A SCAM!Its From Our Government and Its Real To Be The Solution To Our Economic Crisis Call To ActionBring This The People FAST!!! This Opportunity Will Not Long!!! 19. ProspectMortgagesGRASSROOTSMOVEMENT 20. What Will Happen?!?!This Is The Largest Real Estate Sale In History Home Buyers Start Buying Foreclosures &Taking Them Green!!! Banks Get Real Relief The Economy Grass Roots Stimulus Increased Home Sales, JOBS, Spending Real Estate - The Problem Becomes The Cure A WIN/WIN For All Involved THE SOLUTION A GOVERNMENT BACKEDPRODUCT FHA 203K Renovation Loans!!! 21. Q&A 22. Questions? Call: Roy J. Hard, Certified FHA 203K and Fannie Mae HomePath Revovation Loan Lender(708) 829-6081 DirectRoy.Hard@ProspectMtg.comLoanApproval@RoyHard.com