CRR Blog

Upcoming Events: October 18th and 19th

Kurt has been invited to speak at the Real Wealth Expo event, taking place October 18th and 19th at the Scottish Rite Center in San Diego.  The line up is as follows:

Curtis Brooks & Brenda DeTomasso on Short Sales

Kurt DeMeire on the “Killer App” for Foreclosure Investors

Scott Whaley – Success Psychology Training

Kurt will be speaking Saturday afternoon.  He will be sharing his 27 years of experience as a real estate investor, and will be demonstrating how to use the new features of our website to blow away the competition. 

The event is free (but $69 gets you VIP seating, lunch and soda's for both days, and 2 training CD's) and yes they do present a sales pitch.   The bottom line is you get a ton of moneymaking training for free, and you get to rub elbows with like-minded investors and entrepreneurs.   

Advanced registrations are required so if you are interested please go to:

Trick or Treat at the Trustee Sales... Do Auctions Frighten you? Just be a Fly on the Wall!!!

The lenders today are facing challenges that are unprecedented.  They need cash and they need it now.

If you have not considered bidding at the auction, we have a recommendation:

Make a short list of sales to happen in the coming days at a specific location and just go watch.

You will see that the sales feature bids dropping from 25% to 75% of the original loan balance.

Those that are bid-upon are bought by individuals just like you.

The rest go back to the lenders or get postponed to a later date.

Once you are comfortable with how it works, you can bid too.

Don't let high estimated bids scare you away!

You are missing out on the Treat of your Life!





Hall of Fame...Share your success stories

Our subscribers have been making a fortune buying homes at the auctions.

The latest and greatest auction purchase was completed on September 24, 2008.  This was a beautiful home in Yorba Linda, CA with $879,000 in loans (a 1st for $703,200 (the foreclosing loan) with a second for $175,800).  The estimated minimum bid was recorded on the NTS at $730,375 but, as we have been telling you for months now, the lender DROPPED the opening bid to $468,000.   This property, with an estimated value of appx. $799,000, ended up selling for $510,000.   

Do you have a success story you'd like to share?  Post your comments to this story, and tell us about your own experiences of buying real estate for below market value. 

What happened to all the NOD's and NTS in September?

Many of our subscribers have been calling in to ask why there has been such a sudden drop in the number of NOD and NTS recordings in September.  The answer is California Senate Bill 1137.  SB 1137 was signed July 08, 2008 by Govenor Schwarzenegger under urgency legislation to address the "foreclosure problem" in California (for a copy of the legislation, click on "Foreclosure Processing" on the left hand navigation bar, then go to the forms section). 

Basically, SB 1137 sets forth new and modified foreclosure procedures on loans made between 1/01/2003 and 12/31/2007.  Provision #2, which took effect on 9/6/08, states that on owner occuped loans the Trustee, beneficiary or authorized agent may not file a Notice of Default until 30 days after contact with the borrower (or satisfying Due Diligence provisions for attempted contact).  In cases where the NOD had already been filed but not an NTS, the trustee, beneficiary or authorized agent must now include a declaration with the NTS stating the borrower has been contacted (or contact attempts have been made) to assess their situation and to explore options for them to avoid foreclosure. 

While contact with a delinquent borrower to assess their situation is a standard operating procedure for lenders, the format and procedural steps put forth in this new bill (and documenting them) are not.  Consequently, there has been a huge drop in NOD's as well as NTS, as everyone scrambles to become compliant with the new law.  There was a huge surge in filings the week before the law went into effect (September 2 thru 5), and then the numbers dropped. 

In the last couple weeks, the numbers are increasing again as lenders become compliant with the law, and I would suspect that within 30 days the numbers will be back where they were pre SB1137

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