Bulk REO - Foreclosures for cents on a dollar

We have a multitude of sources available to locate the best value specific to your order. All buyers must be approved by our company to determine their capability to close acquisitions.
For more details or to set up a meeting please call Yana Pacheco at 951-454-0877 or Igor Korosec at 310-499-1305


REO Portfolio Buyers

Brokers Capital Network and Best Hollywood Homes Team have access to bulk REO portfolios from $5 million and up nationwide. We offer representation during the period indicated in our mutual agreement. We can also help customizing exit strategies and offer real estate services for properties located in CA as well as assist in choosing vendors/ agents in other states.

Note Buyers

Our sources have years of experience in the acquisition of real estate based assets at highly discounted values. We will provide you with Business Models for JV acquisition of NPN First and Second TD/ Mortgages that offer establishing of a Separate LLC, Completing the Due Diligence (Market Value of the property, Title condition, Unpaid Principle Balance value, Property inspection), Converting Notes and TDs. We connect you to our highly reputable sources directly. Minimum amount of investment is $250,000.

Brokers and Intermediaries:

Brokers Capital Network and Best Hollywood Homes Team welcome investors as well as brokers who have clients interested in purchasing Bulk REO Portfolios. Minimum purchase price is $5 million. All buyers must be approved by our processing department and all documents must be completed and signed. Investors or brokers or intermediaries must complete our forms and agreements that we will provide to you after our initial consultation:

1. NCND (i.e. Non-Circumvent-Non-Disclosure).
2. MFA (i.e. Master Fee Agreement).
3. Buyer Profile.

Submit together with LOI and POF to BestHollywoodHomes@gmail.com



BULK REO ORDERING

Process overview:

1. Buyer submits the Letter of Interest, Proof of Funds (on bank letterhead with banker’s name and phone number) and Buyer Profile form.

2. Once the documentation is approved, we’ll submit your order with the compiler that has the inventory that meets your needs.

3. Buyer signs our Non-Circumvent-Non-Disclosure and Fee Agreement.

4. The tape is released within about 2 – 7 business days.

5. Buyer has 48 – 72 hours to review the tape without placing a deposit.

6. If tape is accepted the buyer will be asked to make a refundable deposit on the REO acquisition (depending on the institution, 5 – 20%) and due diligence period starts (about 7 – 10 days).

7. If buyer discovers that tape does not meet specified criteria, buyer can send a cancellation notice prior to expiration of due diligence period. The deposit will be refunded.

8. The deposit becomes non-refundable after due diligence period is up and buyer must proceed to close the escrow.

9. All purchases must be cash or line of credit. Hard money financing is available with min 40% down; acceptance of the financing option depends on the seller.


Please note that this process is for general information. Protocol may vary depending on the Seller. We work in a capacity of Investor Consultant / Intermediary / Buyer Representative. We work with Direct Seller sources and intermediaries. Orders start from $5M, nationwide.

BULK REO SAMPLE OF LETTER OF INTEND

Purchase Amount: $ _____________ Dollars (Discounted Value/Purchase Price).

Requested LTV (Loan to Value) range: For example 60% of total value

Maximum amount not to exceed: _____% as a percent of the fair market value.

Location preference: Include the largest geographic area as possible. This will allow the seller to better fill your order and get you the best price.
States___________________________________________________ or
Major cities Preferred: __________________________________________________________________ or
Zip Code range: _________________________________. You want these two zip codes and everything in between.

Property Preference, for example Single Family Residence: ___________________________

Range of Property Value: $__________________________ (i.e. $200K-$500K)

Level of repair requested: (0-Light rehab,…)_________________________________

New Writing for TV & Film class starting at Plummer Park

Dear Writers,
I'll be starting a new Fall Trimester session on Monday, September 8. I hope you will continue your writing studies with me. You'll have the chance to get feedback and support on your writing and film projects and continue building valuable networking contacts. Many students find the first time they take class, they're learning the basics and then they write more during the second or third session. It's also valuable to reinforce the screenwriting concepts more than once and within the context of what you're currently working on.
If you'd like to participate, please be sure to come to class to register no later than the second week as I'll need to show adequate registration to keep the class open. The class will have 11 sessions, from Sept 8--Nov 17 at the same amazingly low cost of $45. Please pass the word on to any friends who might be interested. Thanks so much for your continued enthusiasm.
I now have a website: www.jeanetteshelburne.com with information on all the classes I teach, start dates, holidays and links to valuable resources. I'm looking forward to adding more. Any suggestions are appreciated. Please keep in touch and let me know how you are doing.
Thanks!
Jeanette Shelburne

Below is a description of the class, in case you'd like to email it to others:

Writing for TV & Film:? Why pay $400+ for a writing class when you can receive the same high quality instruction from a publicly funded, low- cost class? How does $45 weeks for 11 weeks compare? Class is offered by Westside Education & Career Center and the City of West Hollywood. Students learn story structure, character development, scripting format, and marketing and while getting supportive feedback on their original writing from a produced, WGA writer. Starts September 8, Mondays, 6:15-9:30 p.m. at Plummer Park Community Center, 7377 Santa Monica Blvd, Los Angeles, 90069. Register in class the first night. For information: www.jeanetteshelburne.com , (818) 702-8693 or Shelburne@aol.com

Consumer Alert: Radioactive Granite Countertops

As recently reported in The New York Times and other news outlets, recent studies have raised concerns that some granite counter tops are releasing high levels of radon gas.

Radon gas is odorless, colorless, and known to the U.S. Surgeon General to be a cause of cancer. It is the second leading cause of lung cancer after smoking and is considered especially dangerous to smokers, whose lungs are already compromised. Children and developing fetuses are especially vulnerable to radiation. Additional information on radon may be found at www.epa.gov/radon

For a licensed and certified technologist in your area contact the American Association of Radon Scientists and Technologists (www.aarst.com) or call Mold in California, Inc. (www.moldincalifornia.com) at (888) 847-4848.

Should you buy a home now?

Thursday, August 07, 2008
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®

With home prices in California declining by 37.7 percent in June compared with a year ago, some consumers are wondering if now is the right time to purchase a home, or if they should wait for prices to stabilize. Some real estate experts believe that home prices will continue to decline and that buyers should wait, while others recommend that home buyers take factors other than price into consideration, such as the benefits of owning versus renting.

MAKING SENSE OF THE STORY FOR CONSUMERS
· Consumers who are hesitant about purchasing a home today because they fear price depreciation, need to understand that real estate is cyclical and that prices will increase again. Home buyers should view a house as a long-term investment and not be fixated on short-term prices. Some economists believe that consumers should purchase a house if they plan to live in or hold the property for at least seven years. This will allow the market to stabilize and homeowners to possibly profit from their investment, if they decide to sell.
· Although a typical monthly mortgage is higher than a rent payment, home buyers who qualify for a fixed-rate mortgage, such as those backed by the Federal Housing Administration, will have consistent monthly payments, while renters are generally subjected to annual rent increases. Mortgages also can be paid off and the house can be owned free and clear, while renters will consistently have a monthly payment.
· To help home buyers lower the financial risk of homeownership, experts recommend that consumers purchase a home within their means and have enough in savings or other assets to cover the mortgage payment for at least six months if they lose their job.

California's Discount Foreclosure Sales Point to Housing Bottom

Thursday, August 07, 2008
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®

Recent economic developments indicate that California may be the first state to find the bottom, based on the increase in sales volume in the previous three months. In June, home sales rose for the third consecutive month, following a 30-month decline. Although approximately 40 percent of the transactions were foreclosure sales, the increase is allowing the market to stabilize by depleting some of the excess inventory. Some experts believe that once a neighborhood's median home price declines to 50 percent from the peak value that the homes in that neighborhood will no longer depreciate.

MAKING SENSE OF THE STORY FOR CONSUMERS
· Although California leads the nation in foreclosures, the state's foreclosure process is more efficient than other states, which likely will lead to a quicker rebound. Foreclosed properties are receiving multiple bids and financial institutions are selling these homes quicker than the market would typically allow.
· The Unsold Inventory Index in June decreased to 7.7 months from 10.2 months a year earlier, demonstrating that the market is improving.

Time to lock in your mortgage rate

Thursday, August 07, 2008
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®

Although still historically low, mortgage rates are rising slightly. Some analysts predict that mortgage rates will continue to increase over the next six weeks, while some forecasters expect rates to reach 7 percent by year's end. Experts recommend that consumers work with their mortgage servicer to lock in a low interest rate. A "locked" or fixed rate will provide consumers long-term savings, and allow home buyers to determine their monthly homeowner expenses several weeks before closing.

MAKING SENSE OF THE STORY FOR CONSUMERS
• With inflation rising and some investors in mortgage-backed securities demanding higher rates to purchase bonds, home buyers should work with their broker to lock in a low interest rate. For every half point interest rate increase, the monthly payment on a typical $294,600 mortgage increases by approximately $100. That adds up to a savings of roughly $1,200 annually and $36,000 over the life of a 30-year loan. The calculations are based on the median price of a single-family existing home in California in June of $368,250 and the borrower providing a 20 percent down payment.
• To lock in an interest rate, consumers should contact their broker and request the rate in writing. As long as the home buyer has a contract or a binder on the home, this should be a simple request. Rates can be locked in for up to 60 days, by only adding an extra eighth of a point to the rate. If a consumer would like the interest rate to be guaranteed for longer than 60 days, most lenders will request some payment up front.
• Locking in interest rates is not without risk. If prevailing interest rates decrease, consumers with a locked rate may have to pay the higher interest rate. Some lenders may offer consumers the lower rate plus an eighth of a point, if the rates drop substantially. That scenario does not seem likely though, based on current economic conditions.

Summary of Key Provisions of H.R. 3221 - The Housing Stimulus Bill (as of 7/30/08)

H.R. 3221, the “Housing and Economic Recovery Act of 2008,” passed the House on July 23, 2008, by a vote of 272-152. On Saturday, July 26, 2008, the Senate passed the bill by a vote of 72-13. The President signed the bill on July 30, 2008. The bill includes the following provisions:

• GSE Reform
• FHA Reform
• FHA foreclosure rescue
• Seller-funded downpayment assistance programs
• VA loan limits
• Risk-based pricing
• GSE Stabilization
• Mortgage Revenue Bond Authority
• National Affordable Housing Trust Fund
• CDBG Funding
• LIHTC
• Loan Originator Requirements
  
  For more information, visit http://www.realtor.org/governmentaffairs