Should I Try to Short Sale an FHA, VA, or a Loan with PMI Insurance

You bet! FHA short sales work the same. The only difference is that the loan is HUD insured. The insurance will pay the bank 82% of the property’s as-is, current appraised value as long as it is not less than 63% of the loan amount. If that number works for you, then you have a deal.

VA short sales work exactly the same as an FHA short sale with one exception. VA guarantees the loan for 91% of as-is, current appraisal. You will meet a VA appraiser (hired by the bank) at the property, and you will be able to purchase the property for 91% of the appraised amount.

The figures above are subject to change with FHA and VA regulations. Research your area as to FHA insurance and VA guarantee benefits.

• Several years ago FHA would not short sale. Soon they began accepting 91% of the appraisal. Next they were accepting 88%. Then it lowered yet again to 82% of the appraisal.
  

• VA was like FHA in the fact they would not short sale either. Now they accept 91%. We have a student who recently got VA to accept 82.13% of the appraisal. Once VA begins accepting discounts in one state, it soon becomes nationwide. Keep your eyes and ears open and we may soon see VA following in the footsteps of FHA.
  

Note: Please note that if FHA borrowers do not make their first mortgage payment “a first-payment default” kicks in and the loan loses its FHA insurance. This is great to know because in many cases you can short sale to an amount below the 82% mark.

When you are attempting to short sale an FHA, the bank will send an FHA approved appraiser. Your best shot at a successful short sale is to meet the appraiser at the property.

• Tell the appraiser that you are the contact person and have the only key.
  

Walk through the property with the appraiser and point out every nasty detail: roof leaks, bad plumbing, outdated kitchens, outdated baths, bad wood, mold, or whatever you can find. The more items you can point out, the better your chances of a low appraisal.

The appraiser knows before leaving the house that if the appraisal is too high, the poor homeowner is out of luck and out on the street. Do whatever you need to do, within the limits of the law, to get the numbers low!

When banks foreclose on FHA loans, they get the Certificate of Title at the foreclosure sale. They receive their insurance money and then deed the property to HUD, who then disposes of the property via the HUD homes list.

Likewise, when banks foreclose and take possession of a home that is VA guaranteed, they turn the property over to the VA, who has guaranteed a portion of that loan. VA pays the bank’s guarantee and then disposes of the property via the VA foreclosure list.

• The reason a short sale is more difficult when FHA or VA is involved is simple: The bank will obtain an appraisal on the property, and depending on the insurance or guarantee that FHA or VA issued, they will receive that amount of money.
  

The banks are basically protected against major loss in the event of a foreclosure.

When one of these properties is in bad condition, there is a better chance for a short sale because the appraisal will come in low. When you attempt to short sale FHA or VA loans and get a no, consider taking over the property and reinstating the mortgage.

• You can then offer “owner financing” or keep the property as a lease option.
  

There are many other great strategies to use instead of a short sale when FHA or VA loaned homes are in good shape.

• A benefit of doing an FHA short sale, is that FHA will pay the homeowners $1,000 to move as well as waive the deficiency judgment.

Closing a Short Sale Transaction

The bank will give you a deadline in which it must receive the short sale payoff. Arrange the closing to take place prior to the stated date. Always use your title company or attorney whenever possible.

• It’s a bad idea to wait until your last day to close in case something happens and you need a few more days.

Should you need a few extra days, have the title company/attorney call the bank and ask for the extension. Typically, if the title company/attorney asks for it, it won’t cost you anything. If you ask for it, you’ll have to pay the daily per diem, which could run into the thousands.

• When the bank agrees to accept your offer, ask what their “per diem” rate is just in case you can’t close on time.
  

Be sure all the necessary people are present at the closing and that the money is there. Once the property is closed, you can rehab and retail it, keep it for long-term rental, or do what we do … wholesale it quickly.

• You can make most of your money by combining two techniques: Short sale the deal and then wholesale it to a rehabber.

Please note that if you want to wholesale your short sale property at closing, you must coordinate a “double or simultaneous closing” with your closing agent and buyer.

This is perfectly legal and requires no cash or loan from you.

In a nutshell, the rehabber comes to the closing with cash, you buy the property from the homeowner and immediately sell it to the rehabber. The rehabbers funds pay for both transactions. When interviewing title companies or attorneys ask them if they do double closings. If they say no, they are not investor friendly so keep looking.

One of the easiest ways to find an investor friendly title company/attorney is to attend your local REIA group. These type of people are members and are actively seeking your business.

The Investor's Edge University Membership Site

Friends, where else can you get this amount of information for ONE DOLLAR? You can't buy a bottle of water, a soda or even a pack of gum for ONE DOLLAR and just look at ALL THE VALUABLE information you will receive.

TV:
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Colorado and Company
Fox and Friends
Real Estate Round Table
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Radio:
Sunrise Morning Show
Christian WN Radio
Income Property Investment Talk
Larry King "Ask the Guru"
Castle Rock Radio
Chat with Women
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Real Estate Advise
America's Work Force Radio
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Real Estate Corner
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Real Estate Radio Connection
REI Hour
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Real Estate Radio USA
Spring Board Real Estate Investment Hour
WS Radio

Featured in or written articles for the following Magazines:
Money Magazine
MainStreet.com
REIP Magazine
Simple Living
Creative Real Estate Magazine

As you can see by this impressive list of accomplishments, we are experts in this industry and continue to prove it even in this economic crisis. Isn't it nice to know that the people who will work hand-in-hand with you are national experts and have trained thousands? We have a motto - no one slips through the cracks. We will do everything in our power to help you become and stay successful.

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• Elliott Anderson - made 1 million dollars in ONE year!
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• Valerie Scott has closed over 500 short sales since working with Dwan & Bill!
• Jim Feerebe has closed 64 short sales in 1 ½ years!
• Misty Stouffer got a $161,000 property short saled to $81,000!
• Mary and Dave Austin make well over $500,000 a year!
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• YOU COULD BE NEXT! DO IT NOW - DON'T DELAY!

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NLP Techniques

NLP Techniques of the Super Successful

Some of you may still be asking yourself what NLP is and what it has to do with real estate. In every area of our lives, we are forced to talk and communicate with others. NLP is advanced communication techniques that will make you a cut above the rest.

Have you heard of Tony Robbins? How about Donald Trump? Each of these powerful men have made fortunes negotiating with others. Trump negotiates some of the biggest real estate deals in the world. Tony Robbins has made millions teaching folks, like you, how to speak to others, unleash the giant inside, walk on hot coals, and much more.

Why are these people so successful? Because they know what to say and how to talk to anyone in any circumstance. Do you? This is why this FOUR-PART TRAINING SERIES will change your business for the better.

Here is small sampling of what Bill will teach you:

• What to say to BULK real estate investors
• What to say to Loss Mitigation reps to make them want to work with you
• How to get homeowners eating out of your hand
• How to get around "pre-programmed" no's
• What an objection really is and how to overcome them 100% of the time
• Why REPEAT, APPROVE, RESPOND is so important to your success
• Why investors fail
• Why others are wildly successful
• How to be a superstar in an unstable market
• Embedded Commands and how to implement them
• Learn what "Analogical Markers" are and why they work 100% of the time
• Learn what "Assumptive Language Patterns" are and why they work

Bankruptcy, The Banks Worst Nightmare

Hi Everyone,

We know you enjoyed the call tonight. What great information Bill provided!

Bankruptcy is a fascinating topic and can make you millions.

The more we learn about it, the more money we make. It gets fun when you get loss mitigators who think they know a lot about bankruptcy. We just steam roll right over them. You can feel them squirming in their seats through the phone.

We are offering a BRAND NEW resource to you … a Three Part Series!

A three part series taught over the phone and recorded for your convenience.

A new series will start every other week.

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As soon as you register, you will download your personal Bankruptcy Timeline Workbook and use it to follow along throughout the series. Bill has put together a brand new program just for this class. This is a "fill in the blank" series. It is the FIRST one of its kind in the country.

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How to Buy Bulk Properties from the Bank

The call tonight was amazing. Friends, this is a chance to ACTUALLY change your financial future, even in this depressed economy.

Imagine being part of 5 million dollar deals, or 25 million dollar deals, or even larger… and all with NO MONEY, NO CREDIT, AND NO CONTACTS!

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We have many, many banks that we work with and we want you to help us find new buyers. The best part for you is that once you find a buyer - they are your buyer for life. Anytime your contact buys another portfolio, you get paid even if they call us directly. We DO NOT allow anyone to circumvent you. We have your back…

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Short Sale Series

Hi Friends,

I am certain that you loved the call tonight. I know I did! I love talking about short sales!

Because people love to do online training - I have a BRAND NEW four part series on short sales.

This is a hands-on 4 Part Short Sales Series class, and is recorded for your convenience….and with all new information!

Here is a small sample of what you can expect to learn:

Part 1 - We will cover putting your packages together, you will get 5 deals under contract this week as well as find a title company. We'll discuss how to go to contract, how to get in touch with the Loss Mitigation rep, and much more.

Part 2 - You will submit your 5 deals this week using the first offer. We will discuss and prepare the second offer as well. You need to be on your third offer by next week so that we can close these deals by the end of the month.

Part 3 - This week will be working on getting an acceptance letter and setting a closing date. We'll also discuss some bankruptcy so that you can stall for time if you need to.

Part 4 - This week will be the most fun. We'll cover how to get the deals to the closing table, how to use Fast Cash, and what to do next to build wealth. You will love this series!

The beauty of this NEW series is that you get to learn as you implement. At the end of each call, I give assignments so that you can implement your lessons as you go. My goal is for you to close a deal by the end of the series.

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Take the four part series for just $599 and receive a personal ebook
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Communication Mastery Product

Hi Friends,

Again…another fantastic call from Bill Twyford. He is an amazing speaker and he has such strong communication skills….he is truly a master. I can't begin to explain the importance of GREAT communication skills. Without them, you will be lost. Look at it this way…

• When you date someone - you use communication skills
• When you apply for a job - you use communication skills
• When you travel - you use communications skills
• When you speak to homeowners - you use communication skills
• When you work short sales with the banks - you use communication skills
• When you raise children - you use communication skills
• When you go to the doctor - you use communications skills
• When you attend parent/teacher conferences - you use communication skills

In other words - every person you speak to, every place you go, ALL day long
- you are using your communication skills.

Whether you are good at communication makes no difference
- communication skills are everywhere!

Knowing that communications skills are a major part of your life - doesn't it make sense to master them? Ever wonder why one person can hold the attention of an entire room while another can't hold the attention of one? It is in the way they hold themselves, the way they speak, their tonalities, the words they use, and more.

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Communication Mastery

Hi Friends,

What a crazy way this year is starting … we are in Iowa and all temperature records have been broken this week. It was actually 29 BELOW zero! BELOW….without the wind chill factor!

How cold is that?

• I was standing outside today and my tennis shoes froze to the ground
• My nose hairs froze when I walked down the street
• Our training center had ¼ inch of frost on the INSIDE!

It's been a crazy week. How has your year started?

The good news for investors is that there are record numbers of foreclosures. It is expected that over 500,000 mortgage payments will reset soon. That is another 500,000 who may not be able to make the new, higher payment.

That means more homeowners who need a fresh start and will welcome the help of an experienced, caring investor - YOU!

I have a SPECIAL surprise for you. Register for the next call, get on the next call, stay on the call until the very end and I will send you a F*R*E*E program!

Not an "E" PROGRAM - A REAL PROGRAM!*

Investors - NOW is your time.

• What are you doing to further your education?
• What are you doing to find deals?
• Are you making the millions that you planned to make?
• What is stopping you?

We have all kinds of students who braved the cold to learn…what's your excuse? I find that most investors who complain that they aren't making money either take too many classes and are all over the map or they don't do what their mentors tell them to do.

Friends - if you follow a PROVEN system, you will have the same results. That is why it is called a PROVEN system - it works over and over again.

Are you following a PROVEN system? If you aren't working with us, you aren't guaranteed success. We have been investing for almost 20 years and have done over 1,800 deals. We have taught thousands of students how to make money in ANY market.

Are you taking advantage of our bi-weekly calls? We do these calls to help you be more successful. They are proven, we cover many topics, we answer questions, we even coach by web camera, we are always here for you. If you participate on our calls and aren't successful - you are NOT listening!

We guarantee that you will be successful when you work with us. I want you to register now for the call this Thursday, January 22, 2009 at 6:00 PST, 7:00 MST, 8:00 CST & 9:00 EST.

You are going to receive many emails from every speaker and promoter in the world. We don't want to be promoters, we want to be your mentors. We consider ourselves to be teachers, not promoters. Our goal is to have the most educated students on the planet. Join us for our bi-weekly calls.

This week we are going to discuss - COMMUNICATION MASTERY. I realize that fine-tuning your communication skills may not sound like an exciting topic, but we promise to make it fun! Do you realize that your communication skills make or break your deals? Talking to banks and homeowners is your KEY to success. People who can't negotiate, can't make money in real estate, especially in a tough market like this.

Set yourself ABOVE the rest - learn to negotiate like a pro in just ONE hour! Really - just one hour can change your life. Register now!

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Fed Up Package

Happy New Year! We trust you had an amazing Christmas and New Year. Did you make your resolutions? When I was much younger, I used to make so many New Years' resolutions. Unfortunately, I rarely kept them. I think people should make resolutions they can keep. Most people make the same few resolutions every year…

* Lose weight
* Quit smoking
* Work out more
* Spend less time watching TV

and things like that…

What would work is to make a resolution to gain 20 pounds, smoke two packs instead of one, never go to the gym…in fact…don't even drive by one, watch more TV than ever before…

Now those would be easy to keep .

What I would like to see you do is to write some basic goals and email them to me. Make sure they include the five equities of life - spiritual, financial, family, physical, and mental. Write a few things in each category, post them where you can see them, read them every day, and make them happen.

One of our goals is to help you get through this economic mess and come out on top. The economy is going to get worse this year, so you need to be prepared. 2008 was a mess and 2009 won't be much better. We are not trying to sound like naysayers, but reality is reality and we need to prepare. Chance favors the prepared mind.

REGISTER FOR THE CALL THURSDAY JANUARY 8TH, 2009 AT
4 :00 PST, 5:00 MST, 6:00 CST, 7:00 EST

Fed Up Package

Where To Begin When Submitting A Short Sale Package

It is important to realize that when submitting a short sale package, you are building a case. The better the case, the deeper your discount. Think of yourself as an attorney preparing for a court hearing. If the attorney shows up unprepared, the case will be lost.

Before you submit your first short sale package, let’s look at an overview of what you are about to do:

You are going to submit a total of three offers. Each offer will have a different focus and will be higher than the previous.

The first offer will focus on the homeowners, their distress, the distress of the property, and the overall hardship of the situation. This will be your initial offer and your lowest.

The second offer will focus on the distress of the neighborhood, crime, job losses, natural disasters, or whatever is happening in the area. In this offer, you’ll raise your initial offer to get closer to the number the bank countered at.

The third offer is your highest and final offer. In this offer you will focus on the financial loss to the bank by denying your short sale. You’ll break down, step-by-step, how much the bank will actually lose, how long this will take, and you’ll send a copy to the loss mitigation reps boss.

Online Real Estate Investing Program

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A $499.00 Value!

They also want to give you complimentary Investor Profile...an additional $399.00 Value!
Join our team NOW! got to Real Estate Investing - Short Sale - Real Estate Foreclosures