chaveldiaz-blog

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Postulating in Jesus’ name to Generate Business – Scam Artists & Cons

Warning: I’ll be cussing in my articles and if it offends you, leave.  This is a no Dr.Phil Speak/OprahSpeak/Business BuzzWord/Warm&Fuzzy Slogan Blog. We won’t be talking about issues, things you find distrubing, organically, efforting, your brand, metrics, your game, How “Your Attitude Equals Altitude” crap, etc. 

Instead we’ll be talking about problems, things that are fucked up, things that occur naturally, trying, your reputation, your collecting and interpreting of information, your need to quit dreaming, procrastinating, whining and take Fucking Action, and your Real Estate Business amongst other subjects.

Normally, I write or share on matters relating to Real Estate Investing, specifically, Foreclosures, Lease Options, Rent to Own, and Buying Distressed Properties.  I also enjoy sharing posts regarding Tech Start-ups and Tech Investing.  This post is regarding Postulating using Jesus’ name or some Religious or Ethical phrase/phrasing/symbol as part of your business name, i.e. Jesus Loves You Automotive, Christian Investors, In Jesus’ Name Real Estate Consultants, Bob’s Investments – “The Investors with Integrity” .

You get my drift.  

Normally, I wouldn’t care. You and your business roll how you want, and if you take business from me, cost me business, then the problem is on my end, my product, my service, it’s on Me. It is not due to your postulating using Jesus’ name, using “Integrity, Honesty, Righteousness” in your business name.

When I first started I was guilty of it.  My slogan was “Helping People Solve their Real Estate Problems in an Ethical Manner”. Shouldn’t all business people, if they are honest, be acting in an “Ethical Manner”?  They should and that should go without saying.  Because of that I dropped the Ethical Manner part and now my slogan consists of “Helping People Solve their Real Estate Problems”.

Now are there some businesses that are sincere in their religious devotion or that truly believe in honesty, integrity, ethics, that they have to shout it out in their business names?  Yes, absolutely…

Having been raised in Chicago, Illinois and having known hustler’s since I was 11 yrs old, having worked as a police officer for 18 yrs, and now meeting home sellers, who are struggling for help, desperate for help, and learning how they have been cheated and conned out of their homes by companies postulating religion or some personal virtue in their business name I felt compelled to write this post.

Recent Example:

We’ll call her Mrs. X, from New Isabel, Texas who got her home stolen from her and her husband by a company calling themselves, let’s say for this hypothetical example, “In God’s Name Home Solutions”.

When I met her, after about 4-5 minutes of speaking to her in person she broke down crying and told me how he initially was hooked four months earlier by “In God’s Name Home Solutions” due to their company name and all the wonderful things they said they could do to save her home in “God’s” name.

As she poured her heart and tears out to me she told me how the supposed contract she had made with this Godly Company had not been honored.  The company never tried to help her save her home and instead from the onset continually pressured her to sell her home to them at a major discount. Her and her husband were out of pocket $7000.00 that In God’s Name Home Solutions had insisted she put in the home before they would buy it from her.

And any money she was to get from the final home sale of her home to an end buyer had dwindled down to $1000.00 due to In God’s Name Home Solutions continually pressing her and threatening to void “the contract” to save her home unless she agreed to the concession.

So there I was in this woman’s driveway as she cried on my shoulder, her home sold off for a pittance and her belief in my industry and worse, her belief in religion less solid if not broken.

As the saying goes, “If a person has to tell you how good they are, they’re really aren’t that good”. A similar version should be applied to businesses that postulate religion or a wonderful virtue in their business name.  If they are truly living with the LORD or truly are doing business in an “Ethical Manner” they don’t have to publicize it, use it to market their name.  Their actions will speak louder than any snappy business name involving Jesus, Allah, Buddha or some personal virtuous attribute.

Seller Beware,

Chavel

“I make my Sellers, Buyers, JV Partners, and Private Lenders Money…Everything else is conversation….

Please like my post on this page, FB, Tweeter and your other social media so we can start losing some of these overused RE Investor beliefs and start working on what really gets deals done.

[chaveldiaz-blog]

Pride and Punishment

Warning: I’ll be cussing in my articles and if it offends you, leave.  This is a no Dr.Phil Speak/OprahSpeak/Business BuzzWord/Warm&Fuzzy Slogan Blog. We won’t be talking about issues, things you find distrubing, organically, efforting, your brand, metrics, your game, How “Your Attitude Equals Altitude” crap, etc.

Instead we’ll be talking about problems, things that are fucked up, things that occur naturally, trying, your reputation, your collecting and interpreting of information, your need to quit dreaming, procrastinating, whining and take Fucking Action, and your Real Estate Business amongst other subjects.

Pride and Punishment

I’m writing this blog post because I’m come across many Real Estate (RE) Investors at Networking events or when interacting with them on RE deals that have a belief that when the seller does not follow through on a deal initially or flat out backs out of the deal they should be punished should they return to the deal.

That if the Seller does return to the proverbial bargaining table or change their mind after all and does want to sell, they should be punished with worse terms, a lesser price, or some other retribution for having dared to want a better deal, not having felt the deal was good enough, or just being fickle as many sellers tend to be.

Is this a good strategy for success if you the Wholesaler/Investor and want to close deals?

Is this mantra of making the seller pay based on sound business logic or in Pride taking over on the Wholesalers/Investor’s part over having felt as if the seller had offended them?

Or maybe even a belief that now that they’re back they’re going to be made to crawl and beg on their knees for not following through the first time. This Punishment strategy is compounded by the belief that since they came back to you, the Wholesaler/Investor, you now have leverage and can dictate harsher or if you must, better, demands.

I don’t believe so…

This is business and if the deal makes sense it’s a deal and you do it. All that personal garbage you bring to the deal is garbage and deciding to Punish a Seller due to your pride is weak and just keeps you from making deals.

This is business so put your pride aside, put your history behind. Just because you didn’t get elected prom queen, were not your mother’s favorite, don’t drive the nicest car, doesn’t mean you slam someone, in this case the seller, when the opportunity arises because you’ve developed a fragile ego.

Again, this is business and leave that Pride and Punishment shit behind.

Now if the deal changes where other factors affect the deal, yeah you change it. But you do so to benefit the deal and in my case as a Wholesaler my end buyer, the Investor.

Case Study: Seller wants to sell property on terms initially. 500k, 5% interest rate, 36 months’ term, and extra amount every month (kicker), and balloon payment due at the end. Our end buyer would have gotten a Great deal especially due to the location of the property. The Seller ended up backing out.

Will the Seller come back? Maybe. And Should he I would change the deal based on outside circumstances, on business logic, not that he in affect lied to us and backed out. I don’t give a fuck, he was a liar when I first met him and he was a liar at the end.  And we’ll reinforce our paperworks this time to keep his lying ass in check. So, with that in mind this would be the new terms based in part to interest rates going up recently and on my expectation, they will go up even higher.

New Deal: 500k, 3% interest rate, 4 yr minimum long term agreement, and minimal kicker/extra amount if any every month to be applied to the principal. Did I punish the seller? Am I a hypocrite?

No. If the deal is still there, now, outside circumstances affect it - rising interest rates. And so, I’ll insist on a better deal not to punish, to sooth my pride, but to protect and provide value to my end buyer. The end buyer will be stuck with this property which they can’t move due to loans not being available to build on the property because of higher interest rates and the loans that are available being costly.

Again, the deal is the deal, value is value, and this isn’t a dick measuring contest or who’s driving the nicest rig.

So, don’t let your pride get in the way, don’t let your need to punish get in the way of a deal.

It’s a Myth perpetuated by many RE Investors and that on some level runs through our heads, me included. Save that need to satisfy your pride and punish for social interactions, personal interactions but let that shit go when it comes to making deals.

Late,

Chavel

“I make my Buyers, JV Partners, and Private Lenders Money…Everything else is conversation….

Please like my post on this page, FB, Tweeter and your other social media so we can start losing some of these overused RE Investor beliefs and start working on what really gets deals done.

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ARV on a Wholesale Deal needs to be 70%-75% or you Don’t have a Deal....

 ARV on a wholesale needs to be 70% - 75% of the ARV or you Don’t have a Deal…

ARV – After Repair Value is the value of an Investment Property an Investment Buyer or for simplistic purposes, a Fix & Flipper, will get once they resell the property after all repairs and upgrades are completed. This is a critical number for real estate investors because it calculates the margin between the “as-is” value of a desired investment property, with the value on a developed property that has been completely fixed up.

It’s based in part on the comparatives/comps of the others houses in the area near the prospects house. The ARV will also determine your Investment Buyer’s exit strategy and reveal which real estate financing route is best for them. An ARV will provide an Investor the best picture of what they can sell the property for.

The costs don’t include the rehab on the property (fix & flip or buy & hold/rental) the Investor will put in, their holding costs/buying costs, the assignment fee to the Wholesaler (me), and any other costs.

Example: House ARV’s at 100k. 100k x 70% = 70K ARV. For some Investment Buyers, they only buy at 60% of ARV.

This is a standard method experts in wholesaling use, teachers of wholesaling promote to determine ARV. It’s an analytical formula, a logical formula, and a good guide for determining whether you the Wholesaler have a deal.

But, in many cases it’s wrong.

Stick with it, use it as your absolute for determining value in your wholesale deals and you’ll be lucky to get 1-3 deals a year.  And finding a 60% ARV deal? Good Luck with that one. Heck, if I found a 60% deal, my nit-wit neighbor with no experience buying investment properties would buy that one so why would I need sending out to my buyer’s list.

For the so-called Big Buyers, the Standard ARV formula is right and in many instances, it’s absolutely right. Why? Because by their success, their systems, and specifically due to their large bank account they can pass on deals that are not 75% ARV or lower.

But for the novice Wholesaler, the beginner or those with intermediate skills and bank accounts, you should consider houses outside the Standard ARV formula.

One of the reasons is that because you don’t have the bank account and are working towards being a Big Buyer. You have to use time, knowledge, and effort (a lot of effort) to provide value to your end buyer, your Investor.

To that end you have to expand your buyer’s list. What’s not a deal to Investors in your area could be a deal to an out of state buyer, an out of town buyer who would buy houses in many cases at 80% - 85% ARV.  For them buying at 80%-85% ARV is a bargain compared to Investment Properties in their area.

What’s not a deal to a Standard Formula Investor who only do Buy & Hold, Fix & Flips, could be a deal to an Owner Finance Investor.

Even the Buy & Hold Investor depending on other factors will buy at 80%-85%.

Case Study – Got a lead, spoke to them, wanted 115k for their property. Did the analysis and it only ARV’ed for 85k-93k tops. But, I knew the area having lived there, knew the people who lived in that area, their traditional values, work ethic, and abilities to pay rents/buy a house. So, with that in mind I went over, met with the seller, got some questions answered, some specifics, contracted the house, and put it out for 100k.

Ended up getting an Investment Buyer for 110k, closed the deal, bank account got bigger.  All this with Analytical Investor, Logical Investor, telling me the deal would never sell and worse, I would ruin my credibility here in the Houston Investment community.

If you believe the ARV Myth, yeah, it’s a Myth, that you can only contract houses for 75% or lower or you won’t have a deal, you’ll never move it, and you’ll ruin your credibility, you might get 1-3 deals a year and that’s being generous on my part.

As a New Wholesaler, analysis your potential deals, know your buyers, know your area, and work on knowing people. You’ll get more deals and you’ll better understand how the Standard ARV formula is just a Myth.

Late,

Chavel

“I make my Buyers, JV Partners, and Private Lenders Money…Everything else is conversation….

Please like my post on this page, FB, Tweeter and your other social media so we can start losing some of these overused RE Investor beliefs and start working on what really gets deals done.

 #wholesaling #realestateinvesting 

[chaveldiaz-blog]

The School of Hard Knocks - The School of Failure

 School of Hard Knocks:

Life itself; knowledge (and wisdom) gained by working for it, and not necessarily from a book.

Those who claim they don’t need to get educated in the Real Estate (RE) Business or never took classes, learned from a mentor, many times mention proudly, they learned from the School of Hard Knocks.

Why?

What’s so special about failing and then learning?  Shouldn’t we along with doing our best in our RE Investing include knowing or anticipating problems will be facing as me strive to be a success?

If you’re always learning from the School of Hard Knocks then when you’re Old and Wise the information you’ve learned, as good as it is, is irrelevant as you won’t have the time to act on it.

Once you learn, either you’ll be too old to apply it or worse, as you’ll learn as you’re actively working a RE deal, it’ll be too late, you’re unable to apply it. You’ll be out of the deal, out of business.

The School of Hard Knocks is very expensive school for the RE Investor who refuses to study, keep current, do the work, yes, homework, seek a mentor, or pay for training and education.

Am I advocating that you get with some of these experts that will charge you starting off at $10,000.00 or more (I’ve met people who payed up to $120,000.00 and haven’t learned shit or applied the shit they did learned).

No, absolutely not. But I am advocating not learning on the fly and not depending on learning from your mistakes as a RE Investor.  It’s demoralizing, sets you back educationally, emotionally, and where it counts, your bank account.

Are you a Professional RE Investor or an Amateur Investor?

A Professional RE Investor predicts results, anticipates problems, has solutions for the regular problems that occur in a RE Deal or have the resources/mentors/education to solve these problems or unusual problems, overcome obstacles and get the deal done.

An Amateur treats RE Investing education as something they’ll pick up, a nuisance as the experts they did bother to learn from through their casual reading or who they talked to told them that’s it’s just a matter of getting a good deal, 70% or lower, and all things will take care of themselves.

Good Luck in finding deals 70% or lower and if you learn from experience even if you do get a deal 70% or under good luck in completing it, bringing it to the closing table, and getting that check.

Depending on Luck, Wishing, Hoping, Praying, depending on another’s good will, depending on your luck and the vibe you put out, the aura of you, is not enough. Knowing is what matters and you can’t know, won’t know if you’re always depending on the School of Hard Knocks.

Set aside some time to learn. Talk to experienced investors and learn, truly learn. Take the nuggets they give you and build on it, keep probing till you have a good understanding of what you’re doing and most importantly can anticipate the process of a RE Deal, regardless of your RE Investing strategy.

Keep probing with targeted books, audio’s, current periodicals on your RE Investing niche, even networking events if you must go to them (a waste of time. people singing to the choir in most cases).

And lastly, if you can, get a mentor.  If you can’t afford one or their outrageous prices, then get one who is truly trying to be helpful and not using their interaction at a Networking event with you as a hook for their program.  

One way you can get a mentor if you can’t provide them money, provide them value. What can you do, what do you do, what do you have access too, that adds value to them? 

Once you know this then a trade is made, either for direct education, as a counselor PRIOR to each stage of your RE deal or as an education source till you become an expert at your RE Investing niche.

Counting on, depending on the School of Hard Knocks is just a way for you to insure you’ll fail in your RE Investing Business or any business for that matter.

Don’t let not knowing, counting on the School of Hard Knocks get in the way of you making deals and building wealth.

Late,

Chavel

“I make my Buyers, JV Partners, and Private Lenders Money…Everything else is conversation….

Please like my post on this page, FB, Tweeter and your other social media so we can start losing some of these overused RE Investor beliefs and start working on what really gets deals done.

[chaveldiaz-blog]

Rapport, the Conversation of the Scared, the Drivel of the Non-Closers…

Warning: I’ll be cussing in my articles and if it offends you, leave.  This is a no Dr.Phil Speak/OprahSpeak/Business BuzzWord/Warm&Fuzzy Slogan Blog. We won’t be talking about issues, things you find distrubing, organically, efforting, your brand, metrics, your game, How “Your Attitude Equals Altitude” crap, etc. 

Instead we’ll be talking about problems, things that are fucked up, things that occur naturally, trying, your reputation, your collecting and interpreting of information, your need to quit dreaming, procrastinating, whining and take Fucking Action, and your Real Estate Business amongst other subjects.

Rap·port

/raˈpôr,rəˈpôr/

A close and harmonious relationship in which the people or groups concerned understand each other's feelings or ideas and communicate well.

We’ve been taught and told for countless of years in Real Estate (RE) Investing that one of the keys to getting the seller to like us is Rapport.  The better we are at building a relationship with our seller the better we’ll be at reaching an agreement with them to buy their house.

So, with that in mind many Mentors, Teachers of RE Investing tell you to spend an hour or more building rapport before you get to the pitch. To latch on to clues you see or you’ve developed prior to meeting the seller such as;

they got a license plate on their car that says they might have been in     the military

they have a beautiful garden

their dogs name is fluffy and how did they get the dog and come up with the name

their profession

the pictures and trophies on their wall, desk, or den

You get my drift. The clues are endless which in turn leads to endless drivel, endless conversation.

Don’t get me wrong, I’m not pushing you to be impatient with sellers/buyers. Rapport is important but it should come about naturally and not at the expense of your credibility, wasting of the seller’s time and your time, and you closing the agreement.

As you talk, speak with friendliness, be well mannered, and show empathy for the seller’s situation. That should lead to natural rapport not some artificial dialog that at best makes for a decent sales presentation of your service but wastes everyone’s time and no agreement is reached. And at worse is just a time-consuming dialog of fear on your part due to your inability to close the agreement.

Rapport doesn’t close deals, sales presentations don’t close deals, making a new bud doesn’t close deal, that you become as one with Fluffy doesn’t close deals, closing closes deals.

Your Credibility;

Seriously, you honestly think that your seller is so naïve they don’t know you’re bullshitting them with your artificial interest in the time they served in the navy, your interest in their family’s history, their wonderful home décor and furniture?

Folks due to life experiences, the internet, and having bought and sold many products themselves, know bullshit when they see it and in many instances, find it offensive. Ironically, your efforts at artificial rapport building leads to what you’re trying to avoid. Instead of them seeing you as trustworthy, a person to do business with, which you’re striving for, they see you as a slick hustler, another heartless salesperson who in their sales pitch is just trying to manipulate their heart strings with some BS banter, errrrr, rapport.  

Time;

The mindset today besides being more sophisticated in spotting BS and smelling it a mile away doesn’t have the attention span to listen to your drivel.

Just like when the prospect surfs the net, they find something they don’t like, they quickly open another window, type in a new search, and move on to the what they’re trying to find, like. This instantaneous process of gratification now transfers to real life and real life conversations.  They don’t have time for your rapport, there other problems await, their job is calling, the in-laws are coming over soon, fluffy needs to be walked or she’ll make a mess on the carpet.  

If you’ve properly screened them and you’ve developed a dialog with them of what you’ll be visiting with them about then go into to it. Regardless of their distressed circumstances, they value their time. And even if they don’t that trigger in their mind due to their developed instant gratification mindset in the last 20 yrs clicks in and directs itself at you through exasperation, rolling eyes, and the tuning out that comes with it.

Close Them;

Trust in your service not a relationship of friendship you built with the seller.  Rapport is for those who don’t trust their service or worse, Fear the ask, can’t get to the Close. If you know you’re the best Wholesaler out there with the Best Win-Win deals, the Best at Stopping Pre-Foreclosures, the Best at making Apartment Deals happen, trust in that.  Trust in your superior service and stop Bullshitting people.

Psst, they know you’re bullshitting them with your fake interest. No really, they do. They like you want to get to the close or they wouldn’t have asked you to come in their house/office, invited you over, or stood there at the door with you listening to what you have to offer.

Don’t let this Rapport Myth get in the way of you making deals and building wealth.

Late,

Chavel

“I make my Buyers, JV Partners, and Private Lenders Money…Everything else is conversation....

Please like my post on this page, FB, Tweeter and your other social media so we can start losing some of these overused RE Investor beliefs and start working on what really gets deals done.

[chaveldiaz-blog]

Successful Real Estate Investing is a Numbers Game. Such BS, So Weak....

Warning: I’ll be cussing in my articles and if it offends you, leave.  This is a no Dr.Phil Speak/OprahSpeak/Business BuzzWord/Warm&Fuzzy Slogan Blog. We won’t be talking about issues, things you find distrubing, organically, efforting, your brand, metrics, your game, How “Your Attitude Equals Altitude” crap, etc. 

Instead we’ll be talking about problems, things that are fucked up, things that occur naturally, trying, your reputation, your collecting and interpeting of information, your need to quit dreaming, procrastinating, whining and take Fucking Action, and your Real Estate Business amongst other subjects.

Success in Real Estate Investing is a Numbers Game

In the Real Estate (RE) Investing Business, we’ve been told for eternity that success in the Real Estate Game is a numbers game.

We’ve been lead to believe that going after X number of leads will mean more real estate deals.

That belief, that Success in the Real Estate “Game” is all in the numbers (this is a business not a fucking game) is so tired, overused, and simply not true.

The theory is that all we need to do send enough letters, hit up enough people on our lists, call enough people, network with enough folk, find enough motivated sellers/buyers, and we’ll close deals.

The person that tells you this is basically telling you that you might as well toss your hands in the air, in effect, toss your money in the air, because you can’t control the outcome. How you prepare, your sales/service, your personal attributes such as a your positive mindset, discipline, courage just to name a few, and finally and most importantly, your ability to close don’t matter.  

They’re telling you that your success is a random happening, a game of chance.

While I agree the more leads you get the more deals you MIGHT close but regardless of the amount of leads, if you can’t close, all the leads in the world won’t help you.

Can you always control the outcome when you get a lead? Absolutely not, but you can control the sales process, control whether you close or not, and thus have a higher percentage of closings. You won’t have a 100% batting average but you will have a higher percent of real estate deals.

Closing the deal(s) when you do get the lead raises your percentage of success in RE Investing and separates the have from the don’t have….

If you get 9 leads and you only close 1 (I used to be guilty of this), then what is the real problem?

Assuming you’ve done everything else right to bring in the lead, if you can’t close them, you can’t successfully complete the RE Deal.  That you have a gazillion number of leads is irrelevant. That you have the “numbers” means nothing.

You might say, Yeah, Yeah, Chavel but if you don’t get enough leads and those leads are not motivated (the motivated seller myth) you can’t make deals regardless of your closing skills.

I’m not saying don’t get a major marketing funnel working to get you leads. No, what I’m saying is if you don’t have the skill, the potential to close many of the leads you get, you won’t succeed in RE Investing.

The “numbers game” myth was probably started by RE Investors with amateur closing skills who could not close a deal on the value of their solutions/service if their lives depended in it.  They were taught or believe that if they cast a wide enough net they’re bound to find a seller whom they can make a deal with.

That may work in some cases but this sort of needle in a haystack approach is not a strategy, it’s just allowing your RE Investing success to be dictated by chance.

Hone your closing skills and approach the lead, whether 1 or 15, like no one else. Only then will you stop believing the hype about the RE Business being a numbers game and start believing in your own abilities to close deals which in turn will lead you to get the only numbers that matter, those in your bank account.

Please like my post on this page, FB, Tweeter and your other social media so we can start losing some of these overused RE business beliefs and start working on what really gets deal done. 

Be looking out for my next RE Myth Buster blog;

Rapport -  “The conversation of the fake, of the scared”

Thanks,

Chavel

“I make my Buyers, JV Partners, and Private Lenders Money...Everything else is conversation”

[chaveldiaz-blog]

Closing for Real Estate Investors- If you can’t Close it’s all just CONVERSATION. Can You Close? @grantcardone @joshuasmith @ryanstewman @calebjones

In my experience the process for successfully completing a Real Estate Deal is Marketing, Sales, Analysis, Contract Close, Final Close, and Follow-Up. These closings I am going to share with you come from the framework of Wholesale Deals and PreForeclosure Sub2′s. But they can be applied to closing any Real Estate Deal, whether a Sub2, Rent to own, Owner Finance, Retail Real Estate Deal,  a deal involving apartments, notes, etc. Heck, they can even be used to get your child to do what they’re told, your girlfriend into deciding to spend her life with you, your husband or bf to committing to a better relationship or permanent relationship, your boss to give you a raise, give you a promotion. 

Understand of all the process I mentioned above or maybe you yourself have a different methology which is fine. Either way you have to Close. If you don’t, everything else is  just conversation.  

Some of the Pillars of a Close are Agreement, Believe in your Service (What you’re asking for. If you don’t believe it they won’t and you won’t close), Know the Value of what you have to offer, Know your pitch/closings down pat, have Courage, be Ethical and Honest, and always ask for the deal, the close at the end. Use more than one close with your prospect. I give you ten, use them in combination and make up more, but DON’T depend on 1, 2, 3, 4, or just 5 closes.  

Tools: Your brain and imagination in knowing your closes and making up new one (before the close NOT on the spot), a good pen visible to the seller/buyer, a writing pad (preferrably white in color legal pad), your agreement, know your service, know your exit strategies or have access with those that can show you alternatives to making the deal, know your numbers, and know the value of the deal. 

Conceptual Tools: No particular order

Truth - being honest as this is the best way to get an agreement, a close. Seller/Buyers/The Public are too sophisticated, to technical, and to online savy to fall for your scams. They can smell you coming a mile away.

Courage - You can’t have a close unless you have the courage to go for it.

Speed - Some closes require you to respond quickly and within the flow of the moment, the complaint (this doesn’t mean speak quickly as to hide information or confuse your client).

Attitude - be positive and think of a positive outcome even if in the end you don’t get the close.  This applies to your bf/gf you’re trying to close, your boss, your child, the bank who you need a hard money loan from, etc.

Enthuasiasm - Believe in your service, deal, be ethuasiastic about it because you know as an ethical and honest person this is the best deal for you client. Not, your wallet, but you know this is a great deal and will satisfy your clients needs and inadvertently satisfy yours as well as all other parties involved.

Always look for a solution - there is a close out there for you if you use the closes and other ones you come up with. Also, there’s a close if you use or work with someone who can come up with different solutions to your problem.

You can’t build real value until you Close - rapport is not the deal, marketing, demonstrating, promoting, presenting, making a buddy, is not the deal, you want to, HAVE to Close or their is no value to your client/seller/buyer, you, your family, the community. 

Smile - Work on smiling (One of my problems). Being happy inside is not enough, show people you’re happy, let them see you shine and especially when presenting a close you know is the best for them and their problem.

Here are Ten that I use. I expect based on what you know, learned, and have experienced, you will translate them into your field of expertise, your areas where you want to get more closings.  I could offer you many more but, you have to come up with your own. In coming up with your own you make them your OWN, and crash the barriers keeping you from making for yourself a better life, a successful life in any endeavor. 

NOTE: Before you begin.  If you’re working with PreForeclosures, Families in distress, who are getting ready to lose their house, get foreclosed on, work with them to save their house and if you can’t and the only option is to find an investor to buy their house, then that’s great, you solve their problem as best as you and the seller could. DO NOT use these closes to take advantage of their situation.  Me and My partner get as much from helping a family save their houses as we do getting the house under an agreement. Using these closes to trick, swindle, defraud a struggling family out of their house is Unethical and Dishonest, and as for me and my partner will insure you will never interact with us, our business partners and associates, and most especially, you will not work with us. 

Complaints and Closings: In no particular order or order of importance

Complaint #1: You guys are just trying to rip me off. You’re vultures swooping in to steal my house just because our house is getting ready to be foreclosed on. My house is worth more than the money you’re offering me ($1,000).

Close: I agree with you, the money is not much but what we’re offering you is of tremendous value. We pay for your reinstatement, $32,000, we’ll be paying all closing costs $4000, our buyer will rehab the house at her expense without you having to do any of the $20,000 needed in rehab. You will be receiving a Total of $57,000 for the house on your behalf and most importantly the removal of this stress that has been caused by this Foreclosure. You’ll be able to move on with your life and start over without a foreclosure hanging over you and keeping you from buying a new house, renting a nice apartment, or buying a new car. The $1,000 doesn’t compare to the value we’re giving you. Turn the agreement towards them, hand them the pen and let them know where you need their signature and intitials.

Complaint #2: I got to think about it. 

Close: I agree with you, how many days do you think is appropriate, 3 days, 3 weeks, how many? Whether they say 3 days or 3 weeks, your immediately respond with, “ Thinking it over 2 days, 3 days, 2 weeks, 3 weeks more won’t change that you need to sell right now before you get foreclosed on (or if your working a Wholesale deal or trying to get a RE listing) you need to sell as the house has been on the market for over X months/yrs, or whatever reason you found that they want and need to sell. Thinking it over won’t stop the clock as the foreclosure is next week and any more time won’t allow us to get the documents necessary to stop the foreclosure.” You’re making the right decision, you know it, I know it. Turn the agreement to them, hand them a pen, and ask them to please sign here and here, and intial here and here and let’s stop this foreclosure/let’s do this.

Complaint #3: I don’t make rash decisions.

Close: I agree with you. I myself don’t make rash decisions. The difference here is that this is a rational and ultimately, right decision. The RE market is going into a recession, you’ve been holding this house for X months/yrs costing  you money all that time without a renter, and everyday that goes by you’re paying money out and the property value is dropping, and if not dropping making even the price the house is valued at unattainable.  Rash? No, a rash decision by you would be not to sell. This is not a rash decision on your part, this is the right decision, turn the agreement to them, hand them a pen, and ask them to please sign here and here, initial here and here. 

Complaint #4: The Righteous Man/Woman Close Difficult dilemma

Close: I can understand and agree with you this is a difficult decision. But I can also see that in you’re life you’ve been a responsible, accountable person, especially to your family and your home. A person who always has done the right thing for herself and her family. Now, with this foreclosure pending in less than 5 days you need, your family needs you to solve this problem, We need to be able to solve this problem right now and get it behind you. You need to make the right decision now as you’ve always done in the past. Slide the agreement towards them, hand them a pen, and ask them to please, sign here and here, and intial here and here. 

Complaint #5: Not enough Money (Variation of Closing #1 but geared towards a straight Wholesale deal or some other deal)

Close: The market says my house is worth $220k and you’re telling me you want to give me only $165k?? You’re crazy (you’re a ripoff, you’re full of #&#(, no F#*#& way). 

I agree with you John, $165 would not seem not enough but keep in mind our Investor will do all the repairs which come to $20,000, you’re selling “as is” to her. She is paying all the closing costs, $4,000, giving you $30,000, and incurring other selling closes of $16,000. The comps I printed out for you and showed you show the house values for your area and shows your house and similar houses like yours sell for only $110k. It’s a fair deal, it’s the right deal, you know it so let’s get this as the market value for your house won’t change.  Hand them the agreement and a pen, ask them to sign here and here, and initial here and here.

Complaint #6: Checklist Close

Close: John, would there be any other changes or additions you’d like to make before we come to an complete this agreement? Yes? (Isolate change/addition, make it happen for them if possible and within the value and framework you’re providing them). No? Great....Yes or No, once you respond, turn the agreement towards them, hand them a pen, ask them to please sign here and here, initial here and here.

Complaint #7: I need to talk to my Spouse

Close: Joan, what if your spouse says no? Chavel, he won’t say no, I know my husband he won’t tell me no.  Great...Turn the agreement towards them, hand them a pen, ask them to please sign here and here and initial here and here.

Chavel, if my husband says no, we won’t buy? Joan, then let me ask you this question? Will he say no to the service or the money you’re getting for the house? If it’s money, isolate what exactly is the objection to the money (money for the wholesale home, downpayment for the new house, monthly payments, what?). This objection is using the spouse as a invisible third party and the objection is really from Joan who is sitting in front of you. Go back, explain to her the figures, justify them, and show her the value of the figures. If neccessary inject other closes and once the barrier is dropped, turn the agreement to her, hand her your pen, ask her to please sign here and here and initial here and here. 

Complaint #8: Dealing with a 2nd party who has no financial stake in the deal but the seller brought them along, and the 2nd party is injecting themselves into the negotiation/close.

Close: Juan, the deal we are offering your mother to save her house, your house from foreclosure, what advise would you give her about the service we’re giving her, knowing her and the foreclosure situation, and knowing the foreclosure can’t be stopped unless she makes this deal, and that it’s 5 days away, what advise would you give your mother?

Any advise her gives, acknowledge it, and provide information to him that will cover his concerns while highlighting the positives of the deal. Once satisfied, turn the agreement to his mother, hand her a pen, and ask her to please sign here and here and initial here and here.

Complaint #9: Agreement Close

Close: Denise, Aaron, I agree this new home it’s alot of money for a 1st home. I agree the mortgage payment is too high, I agree it’s not exactly the house you wanted, but you knew we’d get close and a perfection house will keep you shopping and wasting time for another year. You knew when you asked me to bring you to this neighborhood that house were overpriced. I’ll need both of you to sign here and here and initial here and here.  

Why is this a good close? Most folks know if they want to buy in this neighborhood with the great schools, parks, and the prestige it will give them with friends and family, know it requires alot of money to buy a house here. They knew this coming in and they knew this when they told you they wanted to buy a house in this neighborhood. 

Complaint #10: Change the terms of the deal Close

Close: The obtacle with the seller in a wholesale deal is still price? The numbers on the house don’t allow you to provide them their asking price. Instead, provide them value with different terms that will meet their asking price or come close to it without costing you your price.

So, Adam, if you won’t sell the house at X dollars (ARV x 70%) would you consider X deal? X deal and the terms will get you close to the price you want, will do this and that, and will overall take X amount of days, etc....So, now that we have the new terms hashed out Adam I’ll need you to sign here and here and initial here and here.

Bonus Close

Complaint #11: Above my budget close

Close: Sonia, I agree this house is way above your budget and that of your husband. But I expect this house, once you move in will have alot of company and won’t be lonely. I don’t understand Chavel. What do you mean? What I mean is this won’t be the 1st purchase you make that is too much money and over your budget. Turn the agreement towards her and her husband, ask them to please sign here and here, and initial here and here. 

Final thoughts on some of the things you shouldn’t do or closes you might want to stay away from and over use.

Don’t ask open ended questions - The other investor is offering me X dollars for my vacant house? You - Really, how much? The seller might lie to you and once they do they can’t come back to your offers or they might feel they will lose face.

 Don’t be Smart Dude/Smart Chick - don’t correct the seller/buyer on knowledge that you know that is wrong or obsolete. They don’t care how smart you are and you’ll only create resentment which will be an unspoken barrier to the close from that point on.

 Know when to Shut Up - many times when you finish your close, SHUT UP and at time, just slide over the agreement, pen, ask them to sign here and here, initial here and here.

 Don’t show anyone up/embarrass them (in particular 2nd parties/Close #7) 

Now or Never - try to stay away from this close

If I could do this, change that, would you do the deal close - Over used

This offer is only good for now, it won’t be available later/tonight/tomorrow - So over used, tired, and transparent. If you’re using it the 1960′s are calling and they want their close back. Yeah, Yeah, Yeah, the successful RE Investor’s teach this, it’s their mantra for creating urgency. So Transparent.

Hope this works for you and improves your ability to close deals and jump start your mind to create some more closes geared towards your particular niche in RE Investing. 

Bump me if you’d like some help closing a deal. 

GL,

Chavel

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Meet Dave...A Foreclosure Stoppage Story #foreclosure #stopforeclosures #texasforeclosurestoppers

Date: Nov 5th, 2015

While marketing to Pre-Foreclosure Homes I met Dave from LaPorte, Texas whose home was going into Foreclosure Dec 2nd. 

Dave is around 55 yrs of age, widowed, his wife having died 4 yrs earlier, living alone, and working a new job.  His previous job, after working there close to 19yrs, dumped him for no cause or in their case a made up cause to rid themselves of the “old guy” before he submits for his retirement benefits after 20yrs. Due to the devastation of the lose of his lovely wife, Dave had also taken to the bottle for quite some time and only recently, though counseling, had given it up.

All these calamities and now a pending foreclosure. When I met him and after going over his story, his hardships, I asked how did he plan to save his home and his answered was a shrugged shoulders, “I don’t know”. 

So we sat down at his kitchen table and developed a game plan to save his home along with a back up plan should he be unable to save the home. The plan consisted of some of the following:

Request of a Loan Modification from the bank

Working with his daughter to gather document, submit documents, and contact bank and necessary parties

Identified needed documents to submit to the bank

Develop logs and points of contact for himself and the bank

Identify bank branches where his mortgage was carried and government services in area that could and would help him

Develop questions to ask the bank when making contact with them

Collecting documentation from bank regarding their promises

Establish a timeline when these things needed to be accomplished as there was less than one month before the foreclosure auction

Have in play a backup plan in case the bank turned down Dave’s request for a Loan Mod.  Dave’s plan was to sell the home to us to avoid the foreclosure on his records, make a couple thousand dollars, and put himself in a position to buy a home in the future. NOTE: Dave’s backup plan to sell was to be set into motion no later than 5 days before the auction as banks are notorious for denying you your Loan Mod with 4 days or less leaving you with no options but to accept and eat the foreclosure. 

Two hours later, we had an action plan together, we shook hands, and I informed Dave I’d be following up in 3 day increments to see how he was going along. 

Two weeks prior to being foreclosed on Dave got the wonderful news. The bank had agreed to a Loan Modification. He was still not yet in the clear and I guided him to getting some more documentation from the bank but 4 working days later, we had it, and Dave had his home. 

The Loan Modification Dave was placed on will be tough. Dave will have to work on average 11-15 hrs a day, 6-7 days a week, to make the new payment, but he saved his home.

Along with Dave, we were able to help Armando, Sheri, and Daniel save their homes. Yeah, we look to buy foreclosures, foreclosures where there is no hope of saving the house, but when we meet down on their luck folk like Dave who have the ability but don’t have the knowledge, plan, or strength of heart to fight back, execute a plan to save their home, we do, we can, and we will.

Thank You Dave for allowing us to work to help you keep your home. By doing so you made us better as a company at what we do and reinforced our belief of building our business by “Helping People Solve their Real Estate Problems”.

Chavel

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3 Families saved this Month from having their home Foreclosed on, WooHoo!!!! #happyfamilies #99homes #foreclosure

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I’m a Real Estate Investor.  I can help you save your home from being Foreclosed on...Okay, Maybe Not...#foreclosure #99homes #michael Shannon #texasforeclosurestoppers

It’s finally come. The month you’re home is placed into public records as being Foreclosed on by the 1st Tuesday of the next month.  With that public posting comes solicitation after solicitation, whether by mail, door hanger, phone call or someone knocking on your door saying they are a Real Estate Investor, “Foreclosure Consultant”, “Foreclosure Problem Solver”, etc..etc..

They claim in their solicitations or in person that they can save your home, keep it from being foreclosed on.  What value do they have to bring to this horrible dilemma, this horrible episode in yours and your families lives? 

Their “consultation”, “problem solution” is for you to sell them your house, preferably at a deep discount, and move out, immediately if possible. 

Before I go any further, Full Disclosure, I am a Real Estate Investor and I do seek deals on Foreclosures and buy homes from persons facing foreclosure. 

So why am I different than the Real Estate Investors I’ve described so far? 

Value, Value, Value...

I offer to buy your home before it goes into foreclosure but after I’ve honestly worked with you to find alternatives to selling to me.  

Alternatives such as: 

Loan Modification

Forebearance

Short Sale

Re-Instating your Loan

Consulting you on filing Bankruptcy or Filing a Lawsuit to save your home

When these options don’t work, then yes, we can buy the home from you, give you a small amount of cash, but most importantly give you a Do-Over to start over again, with clear credit and with no default or bankruptcy on you credit report.

A true Foreclosure Consultant should be working with you to save your home. Why? Aren’t Real Estate Investors, me included, a For Profit Business with our interest being to make money. 

Yes, Yes, Yes...

But in helping people, helping families save their homes without having them sell it to a Foreclosure Real Estate Investor like myself, I profit anyway. I’m in the Long Game not the Short Game.

The Long Game consists of giving value, value, value and if in the short run they sell you their home due to lacking an alternative, so be it, you make money in the short game. But whether they sell or not in the short game, in the Long Game you gain a fan, a reference/referral. And should their foreclosure problem arise again as many of them do, Who do you believe in the future they’ll sell too when that time comes??

The Short game is what these “Foreclosure Consultants” play. They’re 1st and foremost Real Estate Investors whose primary interest is to buy your home right from under you at a steal, the optimum word being steal. 

So when these Real Estate Investors impersonating Real Estate Problems Solvers come a knocking, seller beware. Can they help you? No and in many instances make things worse for you (as bad as the impending foreclosure is they make it worse) by tying you up in some manipulative sales contract that twists the bankruptcy knife into your stomach, driving it even further.

Homeowners, be careful out their. You don’t necessarily have to lose your home but you most definitely DON’T have to be a victim of a scam at one of the most vulnerable times of your life.

Chavel

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Removing a Bankruptcy From your Credit Report Author: Elaine Gardner A bankruptcy can have a devastating effect on your credit score. A bankruptcy listing on your credit reports to many lenders is the only thing they need to see to determine you are completely unworthy of credit. Many people will tell you that it is […]

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#michaelshannon #douchebag #spiderman #foreclosure

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Filing Bankruptcy to Stop a Foreclosure - The Scorched “B” Plan #texasforeclosurestoppers

What does filing a Bankruptcy do to stop a Foreclosure???

It’s Stops the Auction and buys you some time.  It consolidates all your bills, your mortgage included, causing you to make monthly bankruptcy payments which will be monitored by the court. Whether you can complete the bankruptcy of not, you’ll have a Bankruptcy on Your Credit Report which will follow you for 10 Years thus affecting your ability to get credit major purchases or major loans such as student loans or home loans.

Details: You have until 4:59 pm on the Auction Day for your Attorney to file for a Bankruptcy. If the house is already sold at the auction earlier in the morning, the filing of the bankruptcy will undo that sale.  It is mostly used to stop the auction.  People file it and then days or weeks later dismiss it. BUT, just the fact that they filed gets on their credit report as bankruptcy filed (Even after Dismissal). Most Bankruptcy Attorneys don’t or purposely forget to mention that to the Sellers trying to stop the auction.  Filing bankruptcy is only a delay tactic.  Once you file it the Lender will next move to pull the house of the bankruptcy (called "Lifting the Stay"). They succeed most of the time.  At which time they can continue foreclosing on your home.  Upon foreclosure, the seller/you now have a Bankruptcy AND a Foreclosure on your Credit Report.

Pros: Chapter 13 stops the foreclosure of your home and buys you some time.  In a Chapter 13, the past due payments are taken and spread over the life of your plan.  You don’t need the permission of your mortgage company to file for Chapter 13 protection.

Cons: You have a Bankruptcy on your Credit Report which will haunt you for 10 years, affecting your ability to obtain credit and home-car-student loans or majority of loans.  The Bankruptcy filing costs you up to $2,000.  That is money you could have used to put down on a new apartment, as you won’t be buying a home anytime soon.  The Lender will still come after you (Lifting the Stay). You now have to make Monthly Bankruptcy Payments which will be monitored by the lender and the courts.  The lender because one missed payment on your part and they will continue with the foreclosure. Chapter 13 does not lower your future house payments.  This is the number one reason you will hear people say that they filed their case to stop the foreclosure on their home but lost it anyway a few months later.  When you make all of your future mortgage payments on time after your case is filed, the mortgage company cannot take your house.  But again, if for any reason you miss a payment(s) the mortgage company will go to the bankruptcy court and file a motion for relief from the automatic stay so that they can restart the foreclosure process.

Please talk to an Attorney when considering filing for bankruptcy and ask hard questions about the affects it will have on you, your family, your credit, and the probability you’ll be able to complete the bankruptcy and get it eventually dismissed. 

If they can’t or won’t answer your questions or you still fee uneasy about filing a bankruptcy feel free to call us at Texas Foreclosure Stoppers.  We can help you make an informed decision by providing you the honest and impartial truth. 

Chavel

832.736.8831

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File a Lawsuit to try to save your home from Foreclosure? Um, I guess... #texasforeclosurestoppers

File a Lawsuit - These lawsuits are prevalent in Non-Judicial Foreclosure states which Texas is. Nonjudicial means a foreclosure may take place “under power of sale in deed of trust”.

Details: There is a strategy out there where you hire an attorney that files a lawsuit against the lender demanding that they produce the “Original Deed of Trust”.  Much of this lawsuit strategy is based on lenders, from the Mid - 2000 to about 2011, who were buying notes or transferring mortgages in Bulk Packages. These lenders were sloppy. In many cases a multiple note changed hands multiple times. Somewhere in all the transfers the Original Deed was lost.  They were Sloppy.  The attorney filing your lawsuit is betting on that. In many instances they go as far as claiming that the Mortgage is invalid, thus wiping out the mortgage entirely. Whether this strategy is successful or not, just by filing it, the foreclosure auction is postponed. The majority of these lawsuits are thrown out by the courts but they do buy time.   

Pros: Stops the Auction and buys you time. There is a slight chance the lawsuit is successful and the mortgage is wiped out completely. 

Cons: It’s a SHADY Strategy. You have to pay the attorney (even if they fail - for which the chances are high). The total amount due, penalties, and fees continue to pile up. Your credit report continues  to show mounting and continual past dues which in turn make your credit worse. And minus the slim chance your lawsuit will work, you will still lose the house. Also you need to take into account that when you sue your lender and lose due to having no reasonable basis for your claim you could get stuck paying the lender’s court costs and attorney’s fees.

I won’t deny its’ a good delay strategy but a winnable strategy? No, not really. Should you still file a lawsuit as a delay tactic, have an end game, exit strategy. You need to know what you will do with your home once the delay has passed and the lender still proceeds with the foreclosure. 

Chavel

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Forbearance to Forestall a Foreclosure.  Will it work? #texasforeclosurestoppers

YES!!!!!!!!!!!!!!

If you can get it, YES, Absolutely….The key element being it will forestall your foreclosure problem and give you time to catch up and get current, work out another solution, or sell your home if that is all that is left to you.

Forbearance is an offer from a mortgage lender to reduce or suspend mortgage payments for up to six months.  Forbearance is not to be confused with loan modification, because it is a temporary solution while loan modifications are permanent.  Some lenders offer temporary forbearance plans for those who are going through a brief period of hardship. This is often only accepted as an ideal option for those who are facing a short-term financial hardship.

In exchange for a forbearance, the borrower, You,  must resume the full payment at the end of the forbearance period, plus pay an additional amount to become current on the missed payments, including principal, interest, taxes, and insurance. (The specific terms of a forbearance agreement will vary from lender to lender).  Most homeowners do not feel that a forbearance is as desirable an option as loan modification, due to its temporary nature, and because it's not an option that will improve their overall financial situation in a long run.. 

Details: In most cases, the Lender will accept 1/3 of the amount behind and spread the other 2/3 amount over a 6 month or 12 Month Time.

Pros: Stops the Auction. Gets you out of Foreclosure Trouble (As long the new payments are paid in a timely fashion).  The account is considered current.  Your credit report will no longer have continued past due status (Will improve your credit score over a 6 month time).

Cons: Have to come up with 1/3 of the amount behind (Plus all the penalties and fees).  If you can't afford the current payment (That's why you are behind), How are you going to afford the new much higher payment?  One Missed payment and you are back on the Foreclosure Track.  The Lender will most likely not give you another chance, another forbearance plan (Since you failed the 1st one).  Lastly, the Lender might take weeks to decide on approving your forbearance and then come back at the last minute with a rejection.

If a Forbearance is available to you and that is the only option you have of saving your home, saving your credit, consider taking it.  In affect, live to fight another day.  It’s a good option, not the best option, but one that might be available to you. 

Chavel

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Reinstate of Your Mortgage, The Truth, Nothing but the Truth...#stopforeclosure

The simplest and most effective way to stop your home from getting foreclosed on is reinstating your mortgage.

Details: Pay the amount that you are behind on your Mortgage.

Pros: Gets the mortgage current.  No more foreclosure trouble.

Cons: Have to come up with the amount behind plus all the late fees, penalties, and other fees (Inspection Fee, Appraisal Fee, Title Search Fee, Legal Fees. .)

       If at all possible reinstate your mortgage. This is the best option of all to maintain your house.  It’s easier said than done for if you had the monies in the first place we wouldn’t be in this foreclosure dilemma.  You couldn’t control your job layoff, company downsizing, divorce, illness to you or a loved one, all these things that through no fault of your own caused you to be low on money and thus in the foreclosure situation you face now.  

        But you are here, the foreclosure is pending, and if you have the money, through some form of loan, withdrawal, or financial windfall, pay off the amount owed and get yourself current.

 Some of the things you should take into account when you’re dealing with a reinstatement.

1. Keep a Log and have the bank representative(s) you speak to log your calls.  In your log get their name and rep ID #.  In your long, log down the time, date, subject you talked about, and person who you talked to, summary of what that rep said.  Your log will be used in the future as a reference when you call back and there’s a problem or claim that you never spoke to the bank, the bank never made this or that arrangement with you, etc.. etc…

2. The problem that caused you to be behind in your mortgage payment unfortunately might still be there.  The medical problems to you or your loved one, the layoff, the divorce, and the other financial emergencies are still there. And if they are, with your reinstatement you’ve only bought yourself time and forestalled the inevitable.

3. Understand that if for some reason you obtained a loan from an individual you are now responsible for paying 2 loans: the loan to the bank and the loan to the person who gave it to you. So now you have in affect 2 mortgage payments a month along with the emotional baggage that comes having gotten a loan from possibly a friend or family member.  Minor get togethers will be uncomfortable, the dynamics of that friendship will be forever ruined, and family gatherings, forget about it. Talk about throwing it in your face and not letting you forget, ever.

Lastly, if your foreclosure problems are just a matter of your being irresponsible, unaccountable with your money, and note, I said, “your being irresponsible”, “your being unaccountable”, then work on fixing it. Read up on it, set up a simple budget on excel or any other format you can find and use, stick to it, and you’ll be on your way to leaving these foreclosure problems behind you.  We all have our moments, I do, of being carefree with our money and financial obligations, but once we note them, acknowledge them and our actions that brought them about, they are very correctable. 

But, Big But, if it’s you and a combination of others, your spouse, loved one(s), family members, or one of the critical calamities that cause regular people, good people, like yourself go into foreclosure: death, medical problems, company downsizing, divorce, etc..  etc..  These are some things that acknowledging the problem, a simple desire to do better, a simple budget plan can’t and won’t fix, and which will eventually lead you back to being on the foreclosure list. 

I hope this advice on reinstatement helps you and that this foreclosure will eventually be a minor entry into your personal past. 

If not, think of it in a positive manner. Losing everything is the opportunity to live the life of your dreams.  When you have nothing to lose, you have freedom to actually go for your dreams.  This foreclosure is a minor setback, a catalyst to live the life of your dreams, and if you can’t re-instate your mortgage, then take this foreclosure as an opportunity to re-boot your life. 

Chavel

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Letting go of my Isuzu Rodeo....#houstonforeclosures #stopforeclosures

Recently, I had to let go of my Isuzu Rodeo.  I didn’t want to. I tried to salvage it as best as I could. Through the continual mechanical work I put into it, through the electrical problems, the break-downs, but in the end after refusing to face the inevitable, my Isuzu’s motor burning up made the decision for me.  There I was in Houston,Tx around Hwy 610 & T.C. Jester, pulled over in a bank parking lot, my motor overheating, actually burning.  Once I got it back to my mechanic he told me, yeah sure, I can fix it, it will cost you a lot of money, but in the end, three weeks, a month, or sometime in the future you’ll be in the same boat, in the same struggle, dealing with this stressful, emotionally & physically draining car. I knew he was right, I knew then my Isuzu Rodeo was telling me what to do, was telling me to walk away, and so I did. I walked away before it was ultimately too late or worse this car would have caused me to have a serious accident and injury. Now, a new car later, most definitely less vehicle stress later, I have a smile on my face, bumping around in a new ride, looking forward to buying a newer ride with the money I’ve saved on repair costs, tow costs, and time off from work costs due to my Isuzu Rodeo breaking down. 

Like the decision I made with my Rodeo, like the decision many of us have had to make with toxic relationships, so too do you have to make a decision with your home which is going into foreclosure. There are many options available to you as I’ve mentioned in my earlier blog posts,  tmblr.co/ZGxyXj1tWGnvy , but make one and make it soon before you end up on the side of the road with a burnt engine or in this case without immediate shelter, burnt credit, and the inability to lease/rent or for that matter buy decent housing for yourself and your family. 

You want those feelings of tightening in your chest, the stress that makes it hard for you to breathe, the questions that turn like a knife in your stomach to go away, the feelings of wanting to throw up to go away, deal with this impeding foreclosure, and deal with it now.

The time is now if you’re still in one of these phases involving your foreclosure;

Denial. Ignoring it, clinging to the hope some White Knight, anything, will come along to bail you out or that you can ride out the current situation until the housing market rebounds or the situation that put you in this foreclosure bind goes away/gets better.

Anger. When it hits you that you could lose your house, you get mad at yourself, your spouse, your kids, the lender, your congressman, the President, the Mailman for delivering the Foreclosure notices, someone, anyone, but a target to release your anger.

Bargaining. You try to make a deal with yourself that if by some miracle you can save your house this time, you’ll make all the payments on time, keep a strict budget, and get a second job if necessary.

Depression. As the foreclosure auctions comes nearer, your lender is stalling, you’re stuck in limbo, due to lack of time your options have narrowed, the strong possibility of losing your house dawns on you.

Acceptance. Depression turns into a state of acceptance that the foreclosure is coming and must be dealt with—which results in:

a search for new quarters         

a plan to fight the foreclosure

a visit to a bankruptcy attorney

a resolve to remain in the home as long as possible, payment free. 

You’ve tried and tried and tried, but now it’s time to face the reality before it’s too late, time to move on, time to take charge of this impending foreclosure.

But in the end, nothing saved it, a White Knight never showed up, and you acted too late on other options that might have saved your home. 

Don’t let this impending foreclosure ruin your life, ruin your credit, add to your current financial difficulties, ruin your families lives.  Do something about it NOW, so you too can have a smile on you face, be searching for a new home to live in which can be bought due to your securing credit by not allowing a foreclosure to go on your credit record.  A new home with a backyard and good schools for your kids which you were able to put a down payment on due to securing the money you did have and not wasting it away on a foregone conclusion, a chancy lawsuit against your lender, or attorney fees to an attorney for the privilege of a 10 yr ruinous bankruptcy. 

Walking away from your home is not the end of the world if done right. Just remember your house and your home are not the same thing. A home is where you and your loved ones live. It’s about your neighbors, your memories, and shelter from the storm. Your home is where you sit down to a family meal, entertain friends, and get in touch with your creative side by arranging furniture, hanging art and family portraits, or changing the wallpaper. 

A home is a concept you can take with you when you walk away from your current house, current foreclosure situation, with your credit secured, financial situation in a better place, and buy another house or end up renting one. Yeah, you might have wanted to stay but look at this foreclosure for what it was, a temporary interruption till you find your new dream house. 

Lastly, remember “You Are Not Your House”.

Chavel