Get A Home Get A Special Deed

By Don Burnham

When you buy property at auction in a state that has redemption laws, you get a special deed or special title. Because the owner has a number of months in which they can repay the purchase price and redeem their property, it's called a defeasible title. That is, one that can be defeated, which means that you don't have clear title yet.

Securing Redemption Rights

When purchasing redemption rights, you may be dealing with an owner who is under a great deal of stress and may not be aware of the amount of equity they have in their property. Though they may be able to get more for their redemption rights, the rule of thumb is to offer the owner $1,500. They may ask for more, but you should weigh the amount of equity involved.

Purchasing Property

Acquiring Property:A lot of hopeful homeowners, besides scouting out good property, usually start with getting a loan. A note is the borrowed money, say $200,000. When you use that note to purchase real estate, you are issued a mortgage or deed of trust -this is the security instrument. So when you're paying off your loan, it's called paying off your mortgage. If you, the owner and borrower can no longer pay for your mortgage, your property can be foreclosed -that is repossessed, confiscated, or taken as collateral. Or, depending on certain factors, the lender can see you in court.

Relationship of Notes to Mortgages and Deeds of Trust

3 parties are always involved in a deed of trust sale:

Trustor = Borrower

Beneficiary: Whoever lends the money (aka mortgagee)

Trustee: Whoever is handling the transaction

These two are separate and different documents, yet serve a single purpose: ensuring that the loan is paid in full, and should the Trustor fail to do so, securing the perused property as collateral.

The two major strategies in the event of a foreclosure are:

Short Sale

Short Sale

More expensive properties however, require a subject to transaction -utilizing the existing financing for a property. - 23196

About the Author:

Want to know more about real estate? Log on to Don Burnham's website http://www.weknowthewayback.com and know everything from redemptions and foreclosure all under one roof.

Renting Or Buying Your First Home - What to Consider

By Alexandria P. Anderson

Buying and renting a home each has its own benefits and drawbacks. We will discuss the issues surrounding both home ownership and renting to aid you in deciding which path to follow.

Many potential homeowners simply don't take the first step towards home ownership because of the responsibilities associated with buying and owning a home. When you buy a home, you'll be responsible for more than your mortgage payment each month; home ownership involves paying maintenance costs, applying for homeowner's insurance, and paying taxes and fees. If you're interested in buying a condo, the process may be even more complicated. However,you can overcome this initial barrier that may be leaving you feeling overwhelmed - by understanding some basic principles of home buying.

It's a good idea to make up your own checklist of all the different payments involved with your prospective home. You can typically get a lot of this information from your realtor; ask them for average fees, taxes and maintenance costs for the home and create a spreadsheet of all the different elements involved. If you do this in a digital format, you can create side-by-side comparisons of each home you're interested in so you have an accurate view of all the costs involved and the total monthly expenses you'll be responsible for.

Author Ilyce Glink of '100 Questions Every First-Time Home Buyer Should Ask' explains that buying a home also means you're buying into your local community, because you're responsible for local taxes, trash pickup and other services that may not accompany renting in the same area.

Next, you'll need to do some extensive research about tax benefits. Home ownership usually does give you several tax advantages over renting, but this will vary significantly depending on your current income and the total amount of real estate property tax you will be paying each year.

You can estimate your real estate tax benefit by taking into account all your other tax benefits, deductions and current income level. As always, it is better to consult with a financial advisor or an accountant to help you in doing this.

Finally, think about your future for the long-term. Are you intent on staying in a specific neighborhood for the next five years? For the next ten years? Where do you see yourself living 30 years from now? One of the biggest psychological benefits of renting is the 'temporary' mentality and ease of moving. Since you can choose to rent a place on a month-to-month basis, sign a short term lease or just renew from year to year, there is a sense of freedom involved with renting.

If you don't want to settle in a specific neighborhood, then buying a home might not be for you. If you are seriously considering to buy a home, then you need to decide where to settle in and, if ever, when and where you want to relocate in the future. - 23196

About the Author:

Alexandria P. Anderson is a licensed Minnesota Realtor that helps people to find and purchase real estate in the Twin Cities and other Twin Cities property depending her clients' needs.

If You Learn Technical Analysis, You Need To Learn About The Hanging Man Pattern

By Chris Blanchet

For full-time investors who rely on volatility and day-to-day fluctuations in security prices, it is an understatement that they must learn technical analysis. Such analysis enables them to make appropriate changes to their positions, but not all technical analysis accommodates short-term trading. For traders who look to take advantage of quick entry and exit points, short-term patterns are their best allies.

This installment of the Learn Technical Analysis Series examines a short-term pattern called the Hanging Man. With an eye on the short-term outlook of a security, this pattern indicates when it is time to sell an existing position or sell short a non-existent one. In other words, it is a bearish signal.

To identify a Hanging Man patterns, investors will rely on the security's candlestick chart. New investors who want to learn technical analysis in any great detail can recognize this chart by the box that makes up the security's open and close range, and the vertical line that makes up the balance of the trading range. The box, often colored green or white when the close is higher than the open, and red or black when the close is lower, is called the "Real Body" and the rest of the range is called the "Shadow."

When it comes to the Real Body of a Hanging Man, it will need to be a "Black Body" meaning the security closed lower than it opened. The Shadow will look like a tail with preferrably no Shadow above the Real Body. The tail should also be rather long, ideally twice as long as the box of the Real Body. For investors who are just starting to learn technical analysis, the Hanging Man might look more like a square tadpole than a hanging man.

As with any pattern, people who learn technical analysis will still want to confirm signals with other indicators, including fundamental analysis.

One way to confirm the signal is on the following trading day, investors should seek a bearish gap on the open from Real Body. The farther down from the Real Body, the better. In terms of the following day's Real Body, it should be lower than the signal's Real Body, something that will not be confirmed until the close. For this reason, astute investors who learn technical analysis will rely on a multitude of other indicators when making trades based on a Hanging Man.

When the overall market sentiment is overly bullish, Hanging Man patterns are often falsely created. For this reasons, investors should sit tight until the following day. If the open is higher than the Real Body of the Hanging Man, it is likely a false signal. Also, investors should never forget to take the Hanging Man's Real Body's color into account -- "green and white are a bear trap's delight!" Remember that a red or black Real Body creates a more reliable pattern.

Without question, people who learn technical analysis can use their skills as primary discovery tools for buying and selling opportunities, or as confirmation for trades. Ultimately, they will make smarter trades and enjoy the rewards. - 23196

About the Author:

Chris Blanchet has more than 16 years of experience as a Financial Advisor at one of the world's largest banks by market capitalization. To learn technical analysis free visit Online Trader Today.com where Chris writes about Technical Analysis and Options trading. Chris also maintains a debt-free blog at How To Repay Debt.com

Learn How to Trade Quickly and Overcome Your Frustrations

By Alex Miller

Getting started on forex can be a little bit difficult, especially if you're really unfamiliar with what it is that you are doing. The first step in getting started, however, is not to get too nervous about everything that you are about to learn. It is not as difficult as many of the teachers would have you understand, just follow the rules and get a basic overview, and you can begin.

There is one principle that you need to understand about the market that is often due to many people who are just learning Forex. That is the fact that Forex is a zero-sum market, unlike the commodities market. Whenever somebody places a trade on the Forex market, and equal trade is made in the opposite direction by someone else. At the end of the day, one person is going to lose as much as the other person gains, there is never any money that is mysteriously generated in this market.

Another thing you need to understand is that it is impossible for you to trade directly on the Forex market. In order for you to place your trades, you need to have access to a qualified broker that will place the trades for you. You can either access them directly, over the telephone or through the use of an online platform. The platform is by far one of the better choices as it allows you to make your trades in real time.

Some of the additional benefits that you get by using an online platform include tutorials that will walk you through every step of the process as well as some advanced tools which will automate part of your trading. They will also be able to help you to gauge which direction the Forex market might be moving, but there are other tools that do that as well.

A number of other tools fall into similar categories, although they are different in nature. The first of these is a type of system that you can run once per day or per week in order to see which direction the Forex market is moving. Some of these are fairly accurate but keep in mind, the Forex market can be quite volatile. The other tools are either automated or partially automated systems which allow you to trade, even whenever you're not sitting at the computer.

One thing that you should keep in mind, however, is the fact that none of these automated tools should ever be run without at least a little bit of input on your part. People use these automated systems regularly and many of them are finding success in doing so. Just keep in mind that unless you keep your eye on what is going on, the program could make wrong decisions and could cost you a considerable amount of money. They are excellent tools but use them wisely.

The Forex market is a great way for you to be able to build back up a portfolio that may have seen better times before the world economy had so many problems. It is also a great way for you to get started in any type of trading. All that is really necessary is for you to understand the basic principles behind Forex and then you can jump right in with both feet. Make sure that you continue to learn and you will be able to be successful with your trading practices. - 23196

About the Author:

If you are having trouble with the Forex market, make sure that you look at the Forex Candlesticks made easy page on our website.

What You Should Know About Short Sale

By Don Burnham

Sometimes the owner of a property is no longer able to pay the mortgage or deed of trust. When this happens, foreclosure often follows -or worse: bankruptcy. But there is an alternative, the short sale.

Short sale is usually the last step taken by the bank to recover losses from a defaulted mortgagor. When lenders agree to a short sale, it means the lender agrees to accept less than the total amount due. They are willing to forgive a certain amount of debt or deficiency. However, not all lenders will accept a short sale or discounted payoffs, especially if it would make more financial sense to foreclose.

That's right, the lender agrees to accept payment that's considerably less than the total amount that's due. Not every bank or lender will accept a short sale -of course it would make much more financial sense to pursue foreclosure and just take the collateral.

To pursue a short sale, consult your real estate attorney if your case is eligible -certain state laws only allow specific values for a loan to qualify for a deficiency judgment in a short sale. Also, consult an accountant, the IRS may consider the unpaid debts as income, affecting your tax records. Also, the borrower is not guaranteed that the lender will not pursue them for the remaining debts beyond the debt already forgiven -an especially good reason to consult your attorney.

The tedious process of securing a short sale is sure to take a very, very long time. 21 days is the usual answer, should you ask the lender. But that's just a minimum, some cases may actually take twice that time to get approved.

Short Sale Strategy Overview

The full process of a short sale will include a contract, an Authorization to Release Information and the addendum. A warranty deed is a tool used in the process. Let's examine the process now, starting with the contract.

The Contract: This can be laid out in a single page, or even 20 pages -any type of generic sales or purchase contract. Should the price be mentioned, it should be followed by the phrase "see addendum".

The Addendum

This is the most important piece of paper in your entire manual! Let's review the Addendum in detail. The first section on the top is just generic information pertinent to the specific property:

Origination of the contract

Date

The names and other info pertinent to the parties involved

The address

It's better if both the simple address and the legal address are listed to avoid confusion.

Any investor, that is, the lenders, should know that in the foreclosure process, there is the opportunity to acquire bargain property -certainly a valid reason to agree to short sale. - 23196

About the Author:

Know about short sale an alternatives to bankruptcy or foreclosure only at Don Burnham's website http://www.weknowthewayback.com. Visit today to know all about short sale!