Who Knows About Foreclosures?

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Not so glorious as you make it sound

popeye said:
The mortgage market has changed in the last few years...hell, it has changed in the last few months. 4 years ago I was able to refi many of the pre-foreclosure clients that I came in contact with. It is a different story now..alot of the subprime lenders are gone or moved to prime lending.

People are already "milking" this situation. They are offering "lease purchase" or "owner carry" properties with $3k to $5k down payment. These poor buyers are paying the $5 down payment..signing the lease purchase contract and "skipping" out in 2 months when they cant pay the "mortgage payment".

The owner then turns around and puts it back on the market and takes another poor souls 5k and rinces and repeats. There secret is to go in contract with those that they know CAN'T afford the monthly payment.

Capitalism...YES...could I sleep at night..NO!
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I have been doing lease purchase, options, owner carries and some other creative financing for 'challenged' buyers for years. I often pass on buyers who I feel will not be able to complete the transaction because in my experience they do way more damage to my properties than there 3-5 sometimes even 10k down payments.

Not to mention that usually they don't just 'skip' they hang around not making payments for as long as they can. Can you say pain in the ass to get them out of the property? And who's making the underlying mortgage payment while they are not? Me.

Where the money is made in this type of transaction is in the long term from the spread on the interest rates... and maybe a little on the negotiated purchase price though I usually like to leave future equity increases on the table for the buyers.

So really, the secret is to go into contract with people that really do intend to complete the transaction... and then hook them up with a broker who can close the loan when the time comes... and get a little closing kick back to boot ;).

Mondi
 
Your wrong Lerchmo. I was just trying to see who knew about this shit. That was my fucken motive asshole. I never said I was some guru like you from day one. I am here to LEARN about SEO and shit. What the fuck is this place for?

You're just going to be a prick no matter what and just keep flapping your gums "bro" for as long as I am here.
 
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I'll second what Jon said

Jon said:
Here's the answer for the original post's question..

Why people here are clueless about the realm of foreclosures?

Because we are affiliates. We don't give a shit. I see it like this.. just because I love to eat steak, doesn't mean I want the whole walkthrough on how it went from an animal to my plate.

We like the simplified version of things. I've been saying this for a while, that foreclosures are going to be the next big thing, along with other fairly scammy services like credit repair, debt consolidation, etc.

There will always be people who are greedier than others, but you have to be smart about it, and you have to limit yourself to certain processes. You can't expect to come here and tell everyone about some huge money maker and for everyone to jump at it convincing them it's EASY and SIMPLE, because it's not. That would make it a get rich quick scheme, ponzi, MLM, or worse... what all of these ebook make money fast and easy on the internet authors do. If that's the route you want to go, goodluck, but don't do it here.

I already had this talk with you when you pulled this same thing last time and you got all pissy about me deleting your thread. This just reaffirms my reasoning for it. I'm not bashing you about it either. Do I think your idea can work? Yes. Do I think it can make a shitload of money? Yes. But then again, so can schemes like predicting the lottery, or systems to beat roullette by keeping tabs on the number "patterns" (there are no patterns, that's just for show!).

To make a long post a bit shorter, and hopefully end this silly debate... if you are going to become an advertiser or affiliate program and pay affiliates for leads or sales, then go do it, and pay for advertising here, because right now, you're breaking our TOS.. again. Whether you mean to or not, I don't care, but this is your 2nd warning in a month.

Affiliates just want to keep it simple. They want to promote for something online because they are good at that, they don't want to jump on the phone to qualify a lead, or spend 3 hours talking to a bank or a consultant. They just want to produce the leads/sales, get paid, and move on. If you want something more than that from them... then hire sales people.
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In fact I have been in the real estate business for a long time now and the reason I am at wickedfire is I am tired of it. Tired of hearing the stories why someone can't pay their mortgage. I'm tired of hunting for properties and explaining to someone how me taking over their mortgage is good for them, tired of then hunting for buyers and explaining the concepts of equity...

It's exhausting work dealing with all the pitty parties and I have done it long enough that I don't have to work anymore... It used to be fun, but I don't want to do it anymore.

I want exactly what Jon is talking about. Simple, promote, get paid, and do it in my underwear. ;)

Mondi
 
Blastyourass said:
Your wrong Lerchmo. I was just trying to see who knew about this shit. That was my fucken motive asshole. I never said I was some guru like you from day one. I am here to LEARN about SEO and shit. What the fuck is this place for?

You're just going to be a prick no matter what and just keep flapping your gums "bro" for as long as I am here.
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You are having a problem that took me sometime to get over on here. It's called taking things personally, and being a drama queen about it.

Everytime someone criticizes you about ANYTHING, you immediately play the roles of:
  • I am just here to learn.
  • Why is everyone ganging up on me?
  • I didn't do anything wrong.
  • I'm a genius and I know everything.
  • I have no hidden agenda or secret motive (but pm/AIM me for more details)
  • I'm sensitive and can dish it out to anyone, but can't deal with people saying anything mean back to me.
  • My ideas are worth more than your house.
  • Why does everyone dislike me? I am perfect!
  • This reminds me of jail.
  • Everyone here sucks.
That's the gist of it.

Every fuckin time man, you dish shit out, and as soon as someone points out or questions anything BAM, you get all sensitive and try pulling a guilt trip. It's old already.

Stop making these damn threads about the finance sector all the time, when you said it yourself, you're here to learn about SEO. What the fuck does "does anyone know anything about foreclosures?" have to do with SEO?! That's why so many people are responding to you with hostility. Because they aren't dumb, and they see right through it.

Personally, I think you make these types of threads so people can talk about the mortgage industry more often, so you can feel like you're part of the club. You asked in one of your posts before "isn't this the place where we are supposed to discuss and share ideas and learn?" -- Yeah, it is.. but about INTERNET MARKETING... NOT mortgages or that whole industry. Fine, one thread about it or about real estate is enough, but come on dude, it seems to never end. If you want to always discuss it, find a fucking mortgage broker forum and go talk about it all you like over there. When you have something of value to add here, and it doesn't have to do with one of these ponzi schemes of moving shitty old leads to offers, or trying to recruit affiliates to be your sales people, then come back here and try your luck. Until then though, everytime you make one of these threads, people will get more and more fed up with it, and continue to voice their opinions, and THAT is what WickedFire is for.
 
Do you *seriously* think that it's not painfully obvious that you are trying to get people to talk about it so that you can then contact them about getting on board with you?

For you to say that you are innocently trying to talk about mortgages is crap - you have been baiting people and dropping hints trying to find out who knows something or at least who thinks they do.

I am not sure how many forums you have been on in your life, but the rules here don't exist compared to most other places. So to whine about not knowing what's okay is retarded.


Jon said:
  • I am just here to learn.
  • Why is everyone ganging up on me?
  • I didn't do anything wrong.
  • I'm a genius and I know everything.
  • I have no hidden agenda or secret motive (but pm/AIM me for more details)
  • I'm sensitive and can dish it out to anyone, but can't deal with people saying anything mean back to me.
  • My ideas are worth more than your house.
  • Why does everyone dislike me? I am perfect!
  • This reminds me of jail.
  • Everyone here sucks.
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Priceless. I think that most of those were covered in this one thread, too. :)

Laura
 
Way to go Jon, Laura and Lerchie. Ra ra. Lerch your turn, no wait Jon now you go with your famous one liners and low blows. OK Laura your turn to follow me up. Wait Moe talked back after we insulted him. Cant have that, Jon, Jon plz help.

There was no drama until Lerchmo and Super Mod Laura came in with their one 2's. I talk back, here comes Jon to shut my ass up.

Opinions are like assholes, we all have one. Some are just a lot bigger the others.

This is a fucken joke that I cant make a thread like 99% of the fucken threads on here. Just because its about mortgages and its' me.

Isn't it painfuly obvious that 99% of the posters on here are looking for help and ideas? Oh wait it's Moe the mortgage guy who doesnt know SEO and crap about this shit

WELL FUCKEN DUH! THAT'S WHY I NETWORK HERE AND NOT IN A GAY MORTGAGE FORUM.
 
BYA, I wouldn't let the mods get you down. I'm just a noob on here, but they've been up everyone's butts checking for conspiracies, lately. Its not just you. The first part of this thread had some great discussion. I would get back to that.

My question is- like someone else mentioned a few posts up, isn't it going to be really risky to get involved with someone that's close to foreclosure, since they are a bad risk? I think bankruptcy would be foremost on their minds, unless they have good enough credit to get some lenders to refinance them with another high variable rate. Perhaps I'm misunderstanding your model.
 
I agree that there was some good discussion here but it doesnt involve boobies, trance music or myspace spamming................ maybe if I involve spamming myspace, with mortgage/foreclosure offerrs, throw in some arbi , zip submits and listen to trance then it will be "A" OK with the mods and Jon.

The model is to help people stop foreclosure by using the laws that govern this arena. There are various things one can do. This can be used online "internet marketing" and off line. Work with debt specialists and attorneys as a marketer. There is a fine line there, so consult with an attorney there as far as referring business.

Yes, Chapter 13 will stop the lender from foreclosing and also forebearance is a common way also.

Right now there are more people who need this help because they can no longer qualify for a mortgage.

The facts are that 70-80% shop for a mortgage online. They will still do this even when they cant get a loan because thay have done it for years and think that there will be a refinance fix for their debt issues. Those days are gone.

Please no one PM me because this is not a recruiting thread like the mod squad thinks because they are so reaalllyy smart.

This is just to "shoot the shit" about this and ways to monetize online and off. THATS IT!
 
BYA, you have already PM'd everyone about joining your shitty scheme so stop acting like your here to discuss mortgages.

I will have seo_mike making $100 a day within 2 weeks.

lets see how your shit does for him.
 
Again this place is to network? What a fucken joke. if its Moe then he's here to recruit and cause shit.

I did not PM everyone and you know that because I know you all can read all our PM's. I have spoke with Jon, Smaxor and Mike about this. I told Jon that I if I had some ideas but not a set plan and if I do anything, it will be within WF TOS and I was waiting to speak with him more and then here we go again. And thats after I got a PM from Jon saying it was all good???????

I never said that shit with Mike. We are working and have had kinks but it's part of business. We were making more then that and then a big kink hit our deal. But thats fucken life. I have NEVER promised anything to him or anyone on here.

Like I said, your just being Mr. Prick Lerchmo Negative Man, typical and predictable. Have a great day bro!
 
If it were me, I'd buy a mailing list from one of these "Become a Real Estate Millionare with No Money Down" groups, wait a year until that variable interest rate has skinned then alive, and then start emailing. Forclosures are up not because we have spawned more delinquents over the last 10 years, but because this culture of leased lifestyles - buy now pay later, no money down, no interest for 12 months, bad credit loans, living off your credit cards, etc - has convinced people that they're entitled to more than they've earned. Everyone is suddenly rich, every 21 year old has a BMW. They just write debt all day long.

The house never fucking loses, don't forget that.
 
Lachermo, I really want to see a bigger picture of your avator. That is David Hassolholf in a pool and you said he is checking out his package?

Please tell me where you got that image (url) and I will see if David's huge ego matches his package.

For curios reasons. I'm straight as an arrow and do not wish to see another man's package any more than other straight guys.
 
toolohen said:
Lachermo, I really want to see a bigger picture of your avator. That is David Hassolholf in a pool and you said he is checking out his package?

Please tell me where you got that image (url) and I will see if David's huge ego matches his package.

For curios reasons. I'm straight as an arrow and do not wish to see another man's package any more than other straight guys.
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Thanks for the legal disclaimer, Mary.
 
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