Short Sale San Diego Rehab #2 Pre Walkthrough

Kucan & Clark Partners, LLC. are Short Sale Specialists that help homeowners stop and avoid foreclosure by negotiating the short sale in San Diego and because we are also the all buyer, we purchase all of our short sales with cash and closed on this one on 11/5/10. We decided to rehab, improve the value and resell for a profit. We used none of our own money or credit for this fix and flip. Stay Tuned while we take you on a journey with us as we travel down the path of what investors do, how business owners run a profitable company and what it means to be true entrepreneurs. We will be documenting every one of our rehabs and our short sale business as we grow. Please call 800-774-6986 or visit us at www.KucanandClark.com or www.SDShortSale.com for more info on how we can help you weather you are a homeowner needing help, a real estate investor needing properties or a Realtor needing a cash buyer who will do all of the work from opening escrow, getting the approval letter and getting the deal closed while still receiving your full commission.

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How much mortgage debt is there in the USA?

Question by PrimeConcern: How much mortgage debt is there in the USA?
Given all the worries about credit in this country, and subprime mortgages, I was curious as to what the entire amount of home mortgage debt is. There are about 110 million households in the country, with 70% of them owned residences. Let’s say there are 75 million owned homes. Not all have mortgages, but if 70 million do, and the average mortgage amount on such homes is 0,000, that comes out to a scary TRILLION of mortgage debt in the USA. If just 2% default, the amount of bad home loans is 0 billion. It could obviously be much higher.

Does anyone know what total mortgage debt is per household and in total? This is a real problem that could damage the economy.

Best answer:

Answer by Pete W
You bring up an important question. The best data I can find on the ‘net are figures for 2003 (USA Today) – nothing newer available according to them. If that number is correct then the total mortgage debt in the US, 2003, .3 trillion. Some adjustments must be made for the past four years- higher, I’m sure.

Lots of bucks out there!!

What do you think? Answer below!

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lazy cat on a treadmill

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HARP – Lost Equity but Can Still pay Mortgage – Home Affordable Refinance Program Question What can be done to assist homeowners paying their mortgages but facing significant losses in equity? As a category, it is difficult for these responsible people to refinance into the more favorable mortgages now available.” Answer ​The Making Home Affordable Refinance Program is designed specifically to help those whose home values may have fallen relative to their mortgage values. The program is available to homeowners with a first loan, owned or guaranteed by Fannie Mae or Freddie Mac, that is 80-105% of the value of the home. We’re focused on getting as many families as possible who are struggling with their mortgages into a mortgage that they can afford. The Home Affordable Modification Program gets the borrower’s interest rates and monthly payments down to a level they can afford in a way that is most cost effective for taxpayers. That will keep millions from being foreclosed on. Our plan permits lenders to get to a level of affordability in a variety of ways, including reducing interest rates, extending terms, or writing down principal. In addition, we have incorporated principal write downs into our incentive structure in a productive way – success payments to homeowners are available to help pay down principal more quickly. The Administration on April 28 announced the MHA Second Lien Program and incorporation of Hope for Homeowners, a program designed specifically to help

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