Foreclosure, 29

Bankruptcy, 82-84 Buying

How to, 41-49, 73-74, 192-195 At appointment with owner, 44-48, 55, 78-85, 89-90 Guidelines, 42 Know value, 91-95

Elements of value, 92-93

Forces influencing value, 93-94

Six values, 91-92

Target area, 94-95

Ways to value, 92 Preparation, 147-149, 150 REO, 199-209

Set appointment with owner,

43-44,71-72, 78 See also Process, At the sale;

Solutions; Stages Reasons why, 30-38

Buying wholesale real estate,

30-33 Buying from wholesale

sellers, 33-36 Less competition than retail,

36-37 Make quick cash, 37-38 Deed in lieu of, 26, 82, 116 Finding, 65-66 Advertise, 69-70

Key words/phrases, 66-69 HUD (FHA & VA), 73, 109, 118 Fannie Mae, 73-74, 109 Freddie Mac, 129 IRS, 144

Searching public records, 70-71 Foreclosure service, 71

Investing

Useful strategy, 4, 8, 17 Legal delay, 82 Options, 45, 80-85 Process, 17-26

At the sale, 19, 35-36, 48-49, 58-59, 144, 147, 149-153 Loss recovery, 21-22

Vesting, 22 Types, 18-24

FHA insured mortgage,

22-23, 125-129 Insured conventional mortgage, 21-22 IRS tax liens, 131, 135-143 Judicial auction, 142-144 Mail-in bid auction,

140-142 Public auction, 139-140 Judicial (lawsuits in court), 20-21

Power of sale (nonjudical),

18-19 Second mortgage

(junior), 24 VA guaranteed mortgage, 23,

Redemption, 80-81 Reinstatement, 80 Renegotiate with lender, 84-85, 98, 101, 105-109, 115-116, 201-206 Due-on-sale, 106-107 Prepayment penalty, 107-108 Solutions, 45-48

Buy the equity, 45, 95-97 Equity sharing, 46-47 Equity sharing redux, 47

IRC 280A, 47 Reverse lease option, 47-48 Stages, 49, 53, 61 After foreclosure sale, 36,

59-61, 207-209 At foreclosure sale, 58-59 Pre-foreclosure, 37, 98 After notice of default, 55-58,

201-203 Before notice of default, 54-55 Timelines, 54, 55, 56 What is, 18 Freddie Mac, 119, 123, 124, 129

How to Sell Your Home Without

a Broker, 117, 168 HUD (Housing & Urban

Development), 73

Lis pendens (legal action

pending), 20 Long term wealth building, 3

New Path to Real Estate Wealth: Earning Without Owning, 53, 170, 172, 190, 221

Option contracts, 183-195

Foreclosures, 192-195 How to, 189-191 Option fee, 184-185 Optionor/optionee, 183 When to, 191-192 Why use, 185-189 See also Assigning; Option contracts OSHA (Occupational Safety & Hazards Association), 4

PMI (private mortgage

insurance), 21, 33 PUD (planned unit

development), 5

Quick cash strategy, 3, 29, 38, 49, 53, 85, 96, 98, 109, 113, 130, 153, 154, 164, 179

Advantages, 4-8

No extensive record keeping, 4

No hazard insurance, 6

No homeowners association, 5

No income tax problems, 4

No landlording, 7

No lawsuits, 4-5

No monthly mortgage

payments, 6-7 No property taxes, 6 No repairs & maintenance

costs, 5 Quick cash, 7-8

Foreclosures, 17 Quit Claim deed, 26

Real estate lenders, 30-33

Adjustments, 22, 23, 25-26 See also Foreclosure; Renegotiate with lender Real estate paperwork, 101-105, 209, 213-220

Closing, 217-220 Financing side, 102-103 Foreclosures, 209, 217 Presenting, 216-217 Security side, 103-104 Title side, 102 Types, 214-216

Rent busters, 37-38

REO (real estate owned), 36, 48,

59, 73, 119, 199 RTC (Resolution Trust

Corporation) Rule of 72, 31

Sample CA buyer notification/ cancellation, 56

VA (veterans administration), 23, 113, 118