house financing – Obama Administration to Hold Conference to Discuss Housing Finance Solutions

President Obama’s administration has scheduled a “Conference on the Future of Housing Finance” in Washington, DC. The conference will gather housing finance industry industry experts including Treasury Secretary Tim Geithner, HUD secretary Shaun Donovan, and officials from mortgage giants Fannie Mae and Freddie Mac to discuss ideas on how to fix the housing finance industry.

Any decisions made during the confidence would not have any immediate impact on homeowners with loans insured by Fannie or Freddie or investors with securities backed by the company’s, but any discussion of change can hinder investors’ confidence in the nearly trillion market of mortgage-backed securities. Despite the fact that the conference is being described as a “first step” towards reform, investors will monitor the discussions closely.

The conference will be divided into several panels who will discuss topics ranging from the impact of reforming housing finance on broader financial markets to the private sector’s role in the mortgage market. Additional panelists invited to participate are Pimco founder Bill Gross, Bank of America Loans president Barbara Desoer, and Moody’s Analytics chief economist Mark Zandi.

Fannie Mae and Freddie Mac play a key role in efforts to stabilize the housing market through programs designed to aid struggling homeowners. Both companies were placed under the governments control in September 2008 due to fears that losses on their books could bankrupt the companies. Together with Ginne Mae, the companies back well over 90 percent of home loans, as the private mortgage industry has come to a screeching halt.  I will keep you guys posted.

This video can be downloaded here: www.ashdenawards.org Grameen Shakti won an Ashden Award for Sustainable Energy in 2006. To find out more visit the link above and check out the Ashden Awards Blog ashdenawards.blogspot.com Grameen Shakti has sold and installed over 65000 solar home-systems (SHS) in rural Bangladesh, and brought major benefits to its users. Nearly 70% of households in Bangladesh are not connected to the electricity grid and depend on kerosene for lighting. This includes most rural areas and extends as far as the fringes of Dhaka. There are plans to extend the grid, but there is little prospect of substantial change in the foreseeable future. By selling SHS, Grameen Shakti has provided lighting, communications (especially mobile phone charging) and TV, and has increased employment opportunities. It is the largest single installer of SHS in Bangladesh. This impressive number of installations has been achieved by enabling users to purchase their systems on micro-credit with affordable terms, tailored to their specific needs. Funding for the micro-credit system comes from the World Bank and GEF via the Infrastructure Development Company Limited (IDCOL) which provides Grameen Shakti with both subsidy and concessional loans. The cash pool from credit repayments will enable Grameen Shakti to continue the scheme when the subsidy, which is being phased out, ceases in 2008. Grameen Shakti has also started a network of technology centres throughout the country to …
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I’m fed up!

I usually don’t get this angry, but thousands of good, well-intentioned investors are getting duped right now – and it’s costing them a fortune. I call it the BIG FAT LIE!

You may soon get suckered too …

What’s got me so fired up?

Everyone, and I really mean EVERYONE including irresponsible investment gurus (you know the ones!), the media, the talking heads on the TV talk shows, the fat-cat Washington insiders – are all trying to get you to buy! Buy foreclosures! Buy bank-owned properties! Buy wholesale! Buy! Buy! Buy!

But how are you going to make your money back?

That’s right. You’ve got to SELL the property or at least hold it and make your money back over time (which is the method I prefer; it’s like getting a social security check every month).

But no one is talking about how to sell and it’s costing many investors their homes, their careers and their families. It’s awful to see. I know what’s it like because I’ve been there. Growing up in an old apartment with just my mother, we had a Samsonite card table for a dining room table that we paid for with green stamps. I thank God every day I’m no longer living in poverty thanks to my real estate investments.

But others are not so fortunate right now. I’ve got one horror story after another such as the deal Anthony Walker went through just recently.

He bought a property for $47,000, spent another $19,000 on new floors, cabinets, toilets, doors and did all the painting himself. That was exactly ONE YEAR AGO. Since then, it’s sat empty.

His first real estate agent was his daughter. Imagine firing your own daughter? “It was painful, but I had to do it,” Mr. Walker says now. Another agent, who sold 100 homes the year before, didn’t do any better either.

Meanwhile, he was losing his shirt.

He was paying $825 a month in interest for the first 6 months and $1,400 every month afterwards. “I saw all this profit I thought I’d realize that never happened. It was just demeaning.” Twelve months later and $13,350 paid in interest on a $66,000 property, he sold it to me.

I sold it in just 3 days … for $109,900! A $43,000 profit!!

I’ll tell you how I did it in just a moment, but do you see what’s happening?

Investors are being suckered into thinking they can buy low and sell, but the properties aren’t selling! Of course they’re not selling! Isn’t it obvious?

They’re using the same strategies from 6 months, 12 months or even 2 or 3 years ago. Meanwhile they’re getting sucked into a downward spiral of making payments, pouring more money into expensive repairs, contracting with agents and spending thousands of dollars on marketing and advertising and waiting … and waiting … and waiting for buyers to show.

So what’s the solution? We have a unique system that turns the whole buying and selling process around so instead of buying the homes first, we’re finding buyers first. Then we buy the home based on the preferences of the buyers and what they qualify for. When we do buy the home, it’s “pre-sold.” We already have a buyer!

Plus, we also give first-home buyers our famous “Obama Bucks.” Right now, the government is offering new home owners tax credits of up to $8,000. But many homeowners can’t afford the down payment needed to buy the home, so we’re giving them the money that they expect to get from the tax credit upfront. We get paid later when the government check comes in.

Think the “Obama Bucks” will get you more buyers? You bet it would! The government estimates that up to 800,000 first-time homeowners may qualify for a new home, which opens up a whole new market for many investors. We call our program House Monster, which helps investors sell homes as fast as they can gobble them up.

WARNING: The government tax credit may expire November 30 so you must act quickly to take advantage of this innovative program.

I haven’t seen anything like this in my 30 years of investing and I doubt I ever will again. To help you get up to speed and help
you sell more homes faster, we’re offering a free webinar, Wednesday, September
21 at 8:00 pm Eastern Time.