With thirty percent of housing underwater (payoff higher than the value) and people dropping their ethics enough to simply stop paying the mortgage and enter into a “strategic default” the recovery could be a decade away. Hear the comments from the CEO of FICO on how this is affecting credit risk decisions and even lending policy which will reverberate through the housing industry for years if not decades.

I am a multi-year veteran of the industry who has served in the highest offices in the industry. I can help you get the best deals and avoid getting ripped off!
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When looking for prestige as a business there are many types of honors which can be bestowed. The Inc. 500 consists of business which are  ”privately held, headquartered in the U.S., and had a minimum 2010 revenue of $2 million. This year’s list measures revenue growth from 2007 through 2010.”

To qualify for the 2011 Inc. 500|5000, all of the following must have been true of each company:

• Have generated revenue by March 31, 2007;
• Have generated at least $100,000 in revenue in 2007;
• Have generated at least $2 million in revenue in 2010;
• Be privately held, for profit, based in the U.S., and independent (not a subsidiary or division of another company).

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I am a multi-year veteran of the industry who has served in the highest offices in the industry. I can help you get the best deals and avoid getting ripped off!
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Nationwide home sales values on average are lower than they have been at any time since 2003.

Single Family Sales Prices

To buyers this could mean good news but along with tightened underwriting guidelines, increased scrutiny of credit, income and assets, along with crazily erratic valuations through the ludicrous changes to the appraisal industry housing sales are beyond stalled.

While values are low, stock is plenteous, interest rates are phenomenally low and population is growing there are simply too many negative economic factors for the weakened housing market to begin recovery at this time.

For the housing market to begin recovery we need a minimum of at least three improvements:

• The jobs market must improve with millions unemployed and unaccounted for in the numbers the long term impact is yet to be registered. The jobs market must make a come back and only tax benefits to hiring employers and the reversal of the socialized health care (mandated) program will correct this.
• Consumer confidence is at an all time low. “Consumer sentiment unexpectedly decreased in May to the lowest level in six months as Americans grew concerned over the outlook for jobs and the economy, while a measure of home prices dropped to a nine-year low.” – Bloomberg.
• Consumer Price Index is up 3.6% which means inflation and higher cost of living. The real issue here is the CPI core (food, fuel) is up, too. This impacts the poor very harshly.

I am a multi-year veteran of the industry who has served in the highest offices in the industry. I can help you get the best deals and avoid getting ripped off!
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The question comes up again and again about FHA 203k loans and real estate investors. The short answer is, “no, the FHA 203k loan is not for real estate investors”. For over a decade I have had real estate investors call me saying they had been to a seminar where they were told about FHA 203k loans for real estate investing and I have had to educate many to the reality – not because I’m so great but because I have been an FHA HUD approved lender for many years.

So what about the FHA 203k loan can benefit a real estate investor?

So glad you asked because there is a way to benefit from the FHA 203k loan especially in today’s economy! There are two answers to the question we can quickly cover without making you read all day:

1. Flips – but you must understand the definition of flip by FHA which means ANY property that has been under the EXISTING title for less than 90 days. In other words if the name of the seller went on the title of the property less than 90 days ago it will be considered a flip by FHA. Forget your definition of property flipping because it will only?frustrate?you if you try and convince a lender or loan officer why you’re right and FHA is wrong. HINT: If you buy a property in your name and quit claim it to your company name the FLIP period starts when the title change is made. You may have owned the property for 12 years but if you quit claimed it to your company name 88 days ago it’s still a flip. Yes, we can overcome this if you are a sole proprietor but why go through that extra hassle?

2:. Invest in properties one at a time one year at a time. You can purchase a home using the FHA 203k and live in the property for one year then move to another. You may think this sounds odd but I have a client turned friend who has built some good net worth using this method.

How do you find out more about the FHA 203k loan? You call me of course, on my cell phone at 678-439-8683 anytime.