why you should buy a foreclosure!
DESCRIPTION
TRANSCRIPT
How the average person can take
advantage of the current real
estate market opportunity by
purchasing a foreclosure!
WHO WE ARE Prospect Mortgage LLC
#1 Nationwide
Fannie Mae HomePath Renovation Lender
#2 Nationwide
FHA 203k Revovation Loan Lender
Providing A Seamless Renovation Experience!
OUR MISSION
To make the consumer aware of the benefits of
purchasing a home and rehab/improving it.
Help the Economy by relinquishing the banks of
their foreclosure inventories.
In doing so, rid our neighborhoods of vacant
boarded up properties.
Help the Environment by GOING GREEN with
every renovation project.
OPPORTUNITY The Average Hard Working American
TYPICALLY
Gets No Breaks
Always Finds Out About A Good Thing Too Late
Thinks If It’s Good It’s A SCAM
NOW
Thanks To HUD – This One Is Real
It Will Help To Solve Our Economic Crisis
Only If Its Brought To The People FAST!!!
THE PROBLEM The Worse Economic Crisis Of Our Era
Started With Real Estate
Resulted In Banks Holding Bad Loans
Banking Model – 1-10
$100,000 = Loan Out $1,000,000
$100,000 Foreclosure = $1,000,000 Frozen
Foreclosures Have Banks Money Locked Up
Mortgage Backed Securities
THE SOLUTION Fix The Banks Fix The Economy
Rid The Banks Of Their Foreclosure Inventories
Show The Home Buyer How And Why They
Should Purchase Them
WHY???
The Consumer Is The Only Market Large Enough
To Actually Purchase All The Foreclosures
This is The Biggest Real Estate Sale
In History!
REAL ESTATE MARKET MINDSET
Two Types of Properties
New Construction As-Is/Used
Foreclosure Related Sales Now Dominate The AS-IS Market
FORECLOSURES
$$$
Properties Sold For Less Than Worth
Instant Equity
Listings In Majority Of Neighborhoods
Success Story
Single Family Purchase Borrower’s Income: $45k Purchase Price: $61.5k Cost to Rehab: $65.5k FHA Loan Amount: $137k After Improved Value: $256k INSTANT EQUITY: $119k
SWEET DEALS
FORECLOSURES ARE SELLING!
1. Investors Are Mostly Buying Not Consumers
1. Why Not The Average Consumer?
Misperception Fueled By Media
Wait For Market To Get Better
Banks Have No Money
Need Great Credit
Large Down Payment
No Fix Up Money & REHAB IS DIRTY WORD
REHAB IS A HUGE
HEADACHE = WRONG!
Buyers Are Afraid Of Contractors
Don’t Know How To Do Rehab
Lots Of Work
Confusing
Hassle
Expensive
Unforeseen Problems
Just Want To Move In!!!
What if all the home repairs & improvements were
done for you?
What if all you had to do was choose what you want
and want and specify how you want it?
What if the hassle with contractors was eliminated?
What if you did not have to get an extra loan?
What if that loan was a safe loan, not a the bad
type of loans that created this foreclosure crisis?
What if it were relatively easy to qualify for?
What if the home buyer not the investor could buy
any foreclosed property?
What If?
YOU CAN HAVE YOUR
CAKE
AND
EAT IT TOO!
UNCLE SAM Provides The Solution
FHA
Money To Purchase & Rehab In ONE LOAN
Home Buyer Can Not Do The Work
(Must Use Licensed And Insured Contractors)
Hassle With Contractors Eliminated
(Payment Is Upon Completion Of Work)
Include Up To 6 Mortgage Payments In Loan
(Where To Live During Construction)
Move When Work Is Complete!!!
“THE HUD POLICE” Your Peace Of Mind
203K Consultant/HUD Inspector
- Your Protector/Contractor Enforcer
- Validate Estimate of Work Needed
- Provide Contractor Bid Paperwork
- Sign Off on Work Completed
- Submit Draw Requests
Home Buyers Have Peace of Mind
No Longer Have to Fear Rehab
HUD Police has their Back!
HASSLE WITH CONTRACTORS ELIMINATED!!
Average Credit - 620 (If not we can help)
3.5% Down Payment (Can be 401K or GIFT!!)
HUD Properties Only $100 Down Payment!
Seller Can Pay Up To 6% Of Your Closing Costs
1-4 Unit Generous Loan Limits
$417,000 SFR - $780,000 4-Unit (Cook County)
2 yrs Bankruptcy and 3 yrs Foreclosure - OK
Co-Signer’s Are Allowed
FHA MORTGAGE Easy To Qualify
REAL OPPORTUNITY Time For Average Hard Working American
To Get A Break!
To Learn About This Good Thing NOW!
To See That This Is Not A SCAM!
It’s From Our Government and It’s Real
To Be The Solution To Our Economic Crisis
Call To Action
Bring This The People FAST!!! This
Opportunity Will Not Long!!!
Prospect Mortgage’s
GRASS ROOTS
MOVEMENT
What Will Happen?!?! “This Is The Largest Real Estate Sale In History”
Home Buyers Start Buying Foreclosures &
Taking Them Green!!!
Banks Get Real Relief
The Economy – Grass Roots Stimulus
Increased Home Sales, JOBS, Spending
Real Estate - The Problem Becomes The Cure
A WIN/WIN For All Involved
THE SOLUTION… A GOVERNMENT BACKED
PRODUCT FHA 203K Renovation Loans!!!
Q&A
Questions? Call:
Roy J. Hard, Certified
FHA 203K and
Fannie Mae HomePath
Revovation Loan Lender
(708) 829-6081 Direct