Loan Guarantee Risk Assessment for Professional Athletes

in Foreclosure, Real Estate Consulting, Real Estate Debt Workout, Real Estate Development, Real Estate Loans

Pro Athletes: Know when an investment loan risk can change your life – or ruin it.

Take as a for instance: A third year NFL player who’s had a few stand out years nearing a new contract, and is expecting a salary jump equal to his impact. He’s confident in his game, he’s also now confident mixing with businessmen, owners and managers. Opportunities come his way regularly and more are expected with the new contract. He’ll see options for real estate investment with varying degrees of risk. Friendships and emotion may come into play in his decisions. After all the loan risks have even been spelled out to him, he’s confident – and no one gets into an investment expecting failure. But if the deal goes into default and he hasn’t protected himself, he could lose a whole lot more than his initial investment. Confidence in his game came from years of practice and hard work but bringing that confidence to investing without preparation could affect him for years to come.

I’m often called for help with defaulted loan negotiations by high net worth clients who have made investments involving a personal loan guarantee that has them in a perilous financial situation. Often their problem could have been avoided altogether through basic investment analysis combined with prudent asset protection planning.

Sometimes they don’t even know the difference between a straight cash investment, where their risk involves their original investment capital only vs an “at risk” investment, which involves the investor becoming liable for the entire project’s debt by signing on as the guarantor of a bank loan to the project. Read more →

Bank consultant announces sellout of St Augustine real estate project

in Cincinnati Real Estate Consulting, Cincinnati Real Estate Development, Cincinnati Real Estate Development News, Florida Real Estate News, Jackonville Real Estate News, Press Releases, Real Estate Consulting, Real Estate Debt Workout, Real Estate Development, Real Estate Receiver

Cranewoods Development announces that it has completed the liquidation of a planned residential waterfront community on the shores of the St Augustine Inlet in Northeast Florida. “Properties are selling and inventory is being absorbed,” says consultant.

November 8th 2010 – St Augustine, FL   Bank and Real Estate development consultant Cranewoods Development announces that it has managed the final property closing of a planned multi-phase waterfront community in St Augustine Florida consisting of a future multi and single-family development that included a 3500sf West Indies style luxury home.

The St Augustine market had been hit particularly hard by the real estate downturn, ultimately creating intriguing opportunities for investors and homebuyers willing to step in and buy while prices are depressed.

“Properties are selling and inventory is being absorbed. Those are the indicators that prices are recovering. Now it’s a question of how fast,” stated Andrew Howe, President of Cranewoods Development. “This project had terrific value just sitting there, our job was to let people know about it in a way they understood.”

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The VA Purchase Loan Has Many Advantages

in Cincinnati Real Estate Consulting, Cincinnati Real Estate Development, Cincinnati Real Estate News, Florida Real Estate News, Jackonville Real Estate News, Jacksonville Real Estate, Real Estate Loans

Buying a house but not sure what you’re going to use to finance the purchase given today’s climate in the mortgage market?

If you’re a veteran or active duty military, then you must consider a VA Loan, a benefit thanks to your service to the United States. A VA Loan is a great option for buying a home, whether it’s your first or your third time buying a house; the VA Loan gives you flexibility as well as offers an affordable solution to financing your next purchase.

Perhaps the biggest highlight of the VA Loan is the no down payment requirement. Sure, there were plenty of no down payment options 24 months ago, but like the housing bubble, those programs burst and now the VA Loan is the last zero-down mortgage product available. In addition to zero down, the VA Loan also has no private mortgage insurance, which is standard on conventional loans unless you put 20 percent down. Another aspect of the VA Loan is the relaxed credit requirements that still allow you to get a low interest rate. While most conventional products require a 720 or above to get the lowest rates, VA lenders generally only require a 620 minimum credit score, and the rates for those scores are still the lowest available.

The VA Loan also allows you to refinance into a lower interest rate (down the line) without appraisal or income documentation; said Jake Vehige, VA Loan Specialist with VAMortgageCenter.Com.

There is a VA funding fee associated with a VA Purchase Loan, however that fee is 2.15% of the loan amount for first-time VA users and 3.3% for subsequent VA Loan use. That fee can be rolled into the cost of the loan, or the seller is allowed to pay for it as well. Borrowers who can document at least a 10% service-connected disability are exempt from the funding fee.

Provided you’ve got good credit, doesn’t have to be great, you were honorably discharged and you’ve had steady income for the past two years, a VA Loan is definitely worth your consideration when purchasing your next home.

Tax Credits working for Homeowners, First Time Buyers and the Economy

in Cincinnati Real Estate Consulting, Cincinnati Real Estate Development News, Cincinnati Real Estate News, Florida Real Estate Development News, Florida Real Estate News, Jackonville Real Estate News, Jacksonville Real Estate, Ohio Real Estate Development News, Real Estate Loans, Real Estate Market News, Real Estate Taxes

A recent study and market analysis show the extension of the first-time home buyer tax credit and the addition of  credit for existing homeowners is working for our economy. But the credits are set to expire in April and interest rates are beginning to rise from their near historic lows so the time to buy is now.

“Twenty percent of homeowners are more likely to consider purchasing a home than they were six months ago, thanks to the revised $6,500 federal tax credit, according to the survey.”

Coldwell Banker conducted the survey of over a thousand homeowners and found that the vast majority planned to use the money on “smart spending” that pays off existing debts, goes to home improvements, savings and household expenses.  All of which aid our economy by increasing consumer confidence. That’s good news for existing homeowners.

“This may mean the move-up buyer is back in the marketplace,” said Jim Gillespie, chief executive officer of Coldwell Banker. “We’ve got a strong market for the first-time buyer and a strong market for investors. The move-up buyer has been sitting on the fence but hopefully the $6,500 tax credit will stir him to contact a realtor.”