U.S. Foreclosures Rise Sharply in July

FYI...

AP -

Foreclosure filings rose 9 percent from June to July and surged 93 percent over the same period last year, with Nevada, Georgia and Michigan accounting for the highest foreclosure rates nationwide, a research firm said Tuesday

Lease Options: The Answer to A Mortgage Emergency!

Hello All:

Well, here we are in the thick of what I have been warning for over 15 months- the sub-prime meltdown. Many have said that this would not spread into the rest of the economy. Guess what? It has; what's my evidence to prove this assertion? The Federal Reserve has been burning the midnight oil to print 37 billion dollars to infuse into the market; Country Wide is on the verge of bankruptcy the dollar is weak against all major currencies.

This is a perfect opportunity to put Lease Options to work! If people can't sell their homes and can't afford mortgage payments, they will only have 2 alternatives: 1. fall into foreclosure or 2. do a lease option. Sounds too simplistic to you? Sign up for my newsletter, or give me a call and I will explain this strategy in detail.

Be well,

James Gage

Lease Options: Latest News On Financing

Hello All:

Did you see the latest news on financing? It seems that a majority of lenders are clamping down on mortgage underwriting causing individuals seeking mortgages to be turned away in droves! Case in point Wells Fargo : Lenders are tightening standards and "raising rates like crazy." Wells Fargo & Co. is charging 8 percent for a prime jumbo 30-year fixed-rate loan that carried a 6 7/8 percent rate late last week.

This a great opportunity for those of us that invest with lease options; we can tap into this market for maximum profit. You see, I believe it will take about a year or so for the mortgage market to shake off and forget about this sub-prime melt down; when they see that their profits have taken a hit because of tightening practices- they will ease.
At that point individuals we have in lease options will be able to exercise their options and get financing.

Until next time be well and let's get out there and make some money!

James Gage

Real Estate : Russ Whitney & Robert T. Kiyosaki Want You To Be Rich!

We are enjoying the summer days this week at Cape Cod, Massachusetts before returning to NE Florida for some snook fishing at the end of the month. I love Summer mornings. I take my early morning walk, shower, drink freshly ground coffee and watch CNBC.

This morning, there was a special real estate magazine section with tons of glossy ads in my regions newspaper from Donald Trump on condos for sale. I usually go through this stuff pretty fast, but then my brown eyes came upon a major article entitled “Russ Whitney wants you to be Rich”© by Randall Patterson.

The article had the usual stuff you read in the blogs about Russ Whitney and his rags to riches story as well as his friendship with Rich Dad Poor Dad author Robert T. Kiyosaki. The article then begins to describe Russ Whitney’s introductory seminars (4700 per year) which start out free and then move the clientele up the pyramid from $4995.00 to $54,000.00 in program costs. The article also stated that 280,000 people attend per year and 22,000 enroll in the advanced courses. Even though I still use my fingers and toes to count , this is a great deal of money!

.On one hand, the organization boasts having “helped thousands of people become wealthy”, yet it took the reporter several weeks to get the company to provide 1 students to speak with him. When they provided the contact, the reporter discovered they were all employees or doing business with the Russ Whitney organization. With this volume of training which Russ Whitney has accomplished, I wonder why he just didn’t provide a few students who could vouch for his veracity? Easy enough to do.

I find it strange that my real estate competition always has problems in this area, I also advertise the following “Call me, I will be very happy to speak with you”.

No big deal, go to my web site read my e-Books and articles. If you have interest in working with a Mentor, then give me a call at (508) 595-9567 and see if you feel that I can part of your One-On-One Success.

To your success,

James Gage

P.S. I just read an interesting news release on Google stating that the Russ Whitney Organization signed a six-year lease on a 32,646 square foot building in Utah for 200 employees and $700,000.00 in furnishings for student coaching. The news release also stated that Rich Dad Poor Dad author Robert T. Kiyosaki and others attended the ribbon cutting ceremony. What’s the quote from Alice in Wonderland “Curiouser and Curiouser”

Foreclosures: Stocks Lose Steam on Subprime Worries

AP
Stocks Lose Steam on Subprime Worries
Tuesday July 31, 2:35 pm ET
By Madlen Read, AP Business Writer

Wall Street Rally Fizzles As American Home Mortgage Problems Revive Subprime Anxiety

NEW YORK (AP) -- Renewed concerns about soured home loans and the financial solvency of some lenders shot down a continued recovery rally on Wall Street Tuesday, causing stocks to pare sharp gains.

Earlier in the session, stocks had soared following strong earnings from General Motors Corp. and Sun Microsystems Inc. and amid somewhat mixed economic data.

But stocks pulled back after American Home Mortgage Investment Corp. said Tuesday afternoon it hasn't been able to tap into its credit lines and has hired advisers to consider its options, including the sale of its assets. Wall Street has been concerned about tightening credit after some loans made to borrowers with poor credit have gone bad, and that anxiety contributed to the market's big plunge last week.

_____________________________________________________________________
This further illustrates my point that our economy along with the stock market is nothing more then smoke and mirrors. Yesterday all the fear was out of the market, CNBC had all the regulars on saying happy days are here again because of corporate profits; indeed they are rising, but not due to American investing, but rather foreign investing! Which by the way does nothing to help are national or local economy. Remember, we are part of a global economy; therefore a strong stock market is a mute issue with a weak dollar. How weak? In 2002 the Euro was at .82, today 1.3688- in 5 years the dollar has devalued by approximately 38% !!!
For the first time , in my life time at least, Canadians are vacationing in large numbers here in the US because they are getting more bang for their buck!

This is just a taste of what is to come my friends! Tell me, where are these companies going to turn to? This is definitely going to effect every aspect of our economy and the only ones that will come out on the right side of the stick is savvy investors. Now more than ever is the time for us as investors to learn everything we can on foreclosures and the short sale process.

Stay tuned for helpful strategies and tips.

Here We Go!

Hello All:

Just thought I would let you know what's going on since my last post. It seems the people over at Dave Ramsey's organization didn't like my post! I don't think I was bashing anyone, rather just writing the truth, in fact I did include that Ramsey apologized for the error and reimbursed the papers for payment.

Since the posting I have had several e-mails from the Ramsey organization requesting that I allow then to post to my blog a retort. I sent back a e-mail asking if what I had reported was true, they said yes, but it wasn't Dave, but rather an ex employee who had been guilty of the error.
Believe me I don't want to make a big deal out of this, but I think this is a good example of damage control. I wanted to be fair and balanced, so I sent 2 e-mails asking them to either call me or I would call them to find out their side and if I felt their explanation was valid I would post it for all to see.

Instead I received this e-mail:

James, I don't need/want/have time to carry on a conversation with you
on this issue. I simply asked if you would make your comments open to
all people so I could leave a comment of my own. If you don't want to
do that, that's fine, but please don't try to force a conversation with
me after I told you I would only discuss it publicly on your blog.

Chris Thomas
Director of National Advertising

What's the saying if it looks like a duck, walks like a duck etc.....

I will not be silent on issues I believe to be factual and truthful; besides this organization claims to be a "Christian" one, which I believe needs to hold a higher standard then any other organization.

Be well.

Who Can You Trust?

This has been a crusade of mine for several years; the abuse of the information and financial advice giving industry. We have all seen so called experts on television or radio peddling their systems and advice, but what qualifies them to be experts? In the real estate industry most are nothing more than information pushers who have not done a real estate deal in 20 years, but are going to tell you how to do it.

Even in the financial advice world, many so called experts have been placed under the microscope, and found that they are not what they seem, case in point Dave Ramsey ( who is a nationally known talk radio host) ...

In 2004 Dave Ramsey's column was dropped from The Tennessean and four other newspapers owned by Gannett, Co. after it was discovered that the identities of those seeking help were falsified in several of his columns. Ramsey accepted responsibility for the error and offered refunds to the newspapers affected by the error.

Believe me, I don't like to throw stones, but these so called experts are the same individuals throwing stones at everyone else, claiming they are the only ones with true in site.

That being said, what should you look for when taking advice about real estate or financial matters?

1. Make sure the individual is active in the industry that he or she is giving advice.
2. Make sure you can personally speak with them; if you can't don't do business with them or take their advice.

Hope this helps in your quest for top quality information and advice.

To your success.