RonOrr.com

3-8 Credit Cards with Bad Credit

2011-06-20T04:32:00.001-07:00

Bad credit may hold you back temporarily, but with the use of credit repair, and pre-paid credit cards, you can really start a new future of great credit, moving towards a great credit score some day, in which you'll have many more options as well as save thousands of dollars in interest rates and fees.
Here are some cards to help build your credit: secured cards for bad credit, pre-paid and debit, cards for no credit, pre-paid-debit, for bad credit, secured credit cards

3-5 Credit Cards with Bad Credit

2011-06-20T04:24:00.001-07:00

With poor credit, your best bet may be to use Prepaid Credit Cards, which are credit cards you pre-pay your own money and in turn you can use it as a regular of a credit card, and the issuing banks or companies can notify and update the credit bureaus with your payment history.

3-6 Credit Cards with Bad Credit

If you continue to pay down your balance and keep a good payment history, that will reflect on your credit report and improve your credit score over time.
Your poor credit history and low score can affect you in the home loan approval process when trying to buy a home.

3-7 Credit Cards with Bad Credit

We have created specific pages further explaining past negative items that may be reflecting on your credit history:
bankruptcy, collections, deed-in-lieu, foreclosures, judgments, late payments, federal tax liens, state tax liens loan modification, short sales, student loans.

3-3 Credit Cards with Bad Credit

2011-06-20T04:11:00.001-07:00

For those with bad credit I often will suggest these search companies to seek credit repair services.
The reason is I've gone to a lot of seminars, read a lot of books and know experts who have seen as much as 150 point credit score ncreases in only 6 weeks, results will vary, this is not typical, but do know that great improvements are possible.

3-4 Credit Cards with Bad Credit

Some people have bad credit due to not having identity theft protection with one of the major bureaus which will give you alerts of who is using your credit or pulling your credit.
Your credit is very valuable to you, a great credit score will save you thousands of dollars throughout your lifetime

2-6 Credit Cards

2011-06-20T04:06:00.001-07:00

The three major credit bureaus are: Equifax, Experian, and TransUnion.
On each of the pages we discuss these companies and some of the features and benefits their websites provide.
We'd like to let you know we have seen credit score increases of 150 points in only 6 weeks, although results will vary, it's good to know that you can improve your credit.

3-1 Credit Cards with Bad Credit

When trying to get a credit cards with bad credit, it can be challenging.
The reason is if your credit history reflects poorly with any of the 3 major credit bureaus: Equifax, Experian, and TransUnion.
Knowing if you have a bad credit history or bad credit score is just a matter of getting your credit report.

3-2 Credit Cards with Bad Credit

It's said that if you pull your own credit it's not suppose to affect your score.
Each of the three bureaus would like to harge you for getting a credit report and a score, as well as additional monitoring features.
Agencies are required by law to provide all U.S. citizens with 1 free credit report every 12 months, you'll find this on-line at Annualcreditreport.com.

2-2 Credit Cards

2011-06-20T04:00:00.001-07:00

As a general rule, those with bad credit are pretty limited on the cards and companies that will give you a credit card.
A good option may be pre-paid loadable cards.

2-4 Credit Cards

Before applying to any of these credit cards, we would like to encourage you to fully understand your credit score and review your credit report history to determine what needs to be improved and how you can utilize a credit restoration company for credit repair services.

2-5 Credit Cards

Applying for credit cards and having another company pull your credit can affect your home loan approval process.
If you are denied by any of the credit cards above, many will have one of the major 3 credit bureaus mail you the reasons you were denied.
Sometimes these reasons are vague, but often it's because of negative items on your credit report.

1-10 Credit Bureau TransUnion

2011-06-20T03:54:00.001-07:00

Please learn about your credit and all of the positive factors that can help you, as well as what negative items are holding you back and for how long.
Your credit history and score is a very vital part of your life, and affects so many services that you can be approved for, or not be approved for.
It affects you even more with higher interest rates and expensive fees.

1-11 Credit Bureau TransUnion

Do the math over 30 years of paying even 1 or 2% higher interest rate on a home loan of $150,000, it adds up to a lot of
extra hours at work, if not a 2nd part-time job just to make up for your low credit score.

2-1 Credit Cards

Before applying for credit cards you'll probably decide which of the categories you fit in: Excellent Credit, Good Credit, Fair Credit, Bad Credit, or No Credit History.
Knowing that those with excellent credit can choose from most of the categories, as well as the rewards credit cards.

2011-06-19T04:41:00.001-07:00

1-7 Credit Bureau TransUnion

Much like the other credit bureaus, Transunion aims to educate you about credit, help you monitor your own personal credit with alerts for items that shouldn't be on their, or who is pulling your credit.
You may end up signing up for additional monitoring services for identity theft protection.

1-8 Credit Bureau TransUnion

I've been to a lot of seminars and have read a lot of books about credit repair, and I can tell you their is a lot to learn and a lot that can be done, to improve your credit score.
Even if you've had a recent foreclosure or bankruptcy which now shows on your credit report and is giving you negative items resulting in a very low credit score, please be aware that you can search contract for deed homes for sale, and you can often buy your own home even with recent bankruptcies and foreclosures.

1-9 Credit Bureau TransUnion

Even if you've had a recent foreclosure or bankruptcy which now shows on your credit report and is giving you negative items resulting in a very low credit score, please be aware that you can search contract for deed homes for sale, and you can often buy your own home even with recent bankruptcies and foreclosures.

1-4 Credit Bureau TransUnion

2011-06-19T04:36:00.001-07:00

After reviewing your credit report online or by mail, you may find a lot of incorrect or outdated information.
You may try to dispute these items on their website, but I find that experts recommend doing a search for companies that offer credit repair services.

1-5 Credit Bureau TransUnion

I've personally heard of as much as 150 point increases or more in only 6 weeks.
This is not a typical result, yours may vary greatly.
As a general rule you'll see a credit score range from 300-850 credit score, with the higher the better.

1-6 Credit Bureau TransUnion

In recent years when going through the home loan approval process around 2006, a 700+ credit score was considered almost an automatic loan, but today in 2011, even a 750+ credit score can be tough, if you have negative items on your credit report.

1-2 Credit Bureau TransUnion

2011-06-19T04:30:00.001-07:00

Research shows that Transunion is based out of Chicago, Illinois.
As they currently say on their website, checking your credit yourself is not suppose to lower your credit score, where as if someone else were to for commercial reasons it could it lower it some, and if many do, it could add up.

1-3 Credit Bureau TransUnion

Their website has a personal and business section.Transunion as well as the other credit agencies are required by law to provide all U.S. citizens with 1 free credit report every 12 months.
You may request this free report at Annualcreditreport.com.

1-1 Credit Bureau TransUnion

2011-06-19T04:24:00.001-07:00

TransUnion at the time of this writing is the 3rd largest credit bureau and research shows it was founded in 1968.
Like the Equifax and Experian TransUnion is in the business to sell you a credit report where you can check your credit history as well as see your credit score based on the scoring model.

Credit Bureau TransUnion

2011-06-16T11:11:00.001-07:00

45 MN Properties available through RonOrr.com

2010-07-22T14:00:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/45-mn-properties-available-through-ronorrcom/)
45 properties available for sale in Minnesota, most available on a contract for deed, pass this list onto your social network. Receive this list by email http://www.ronorr.com
1xxx Galtier

For Sale

6 month C/D with $8000 down payment

Move-in condition

$82,000

3bed

2 1/2 bath

2car

1890 built

1800 sq ft

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

74xx 84th Ave

Brooklyn Park

$105K

3Bed

2bath

1car

built in 1980

1500 sq ft

great facility pools and grilling areas

$2500-$5000 Down

Contract for deed or Rent to Own

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

65xx 83rd Cord Bkl Park 2 Bad 1 Bath 1 car Grg

email ron@minnesotainvestors.com if interested broker

Available on a c/d or rent to own

C/D price is $75k

Prefer 4-6% down payment minimum

recommend meeting us in the office,

your phone # in the reply is recommended
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

78xx Noble Ave Brooklyn Park, MN

150K resale price- fully updated

30 year fixed 5% down payment 560 score

Please Call: 763-634-1766 for loan, housing and credit questions

email: ron@minnesotainvestors.com

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

free email list of properties at: http://www.ronorr.com
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

Address - Unity Ave N, Brklyn Park

For Sale no c/d

2/1 Twinhome

Sheriff sale - $ 74,447

2nd loan - none

End of redemption - August 25th

OK condition - needs carpet, paint, bath repair.

Property is vacant

Owners to get $2,650 at close.

I can Quit claim to your company for redemption.

$6500 assignment fee.

ARV = $120k
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

35xx Lyndale Avenue S. Uptown

Uptown

Bedrooms 2

Bathrooms 1 full, 0 partial

Sq Footage 1,000

Parking 1 dedicated

Pet Policy Cats, Dogs, Conditional

Deposit $990

Call:952-356-2204

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

19xx Colfax Ave S., Minneapolis Uptown

Bedrooms 2

Bathrooms 1 full, 0 partial

Sq Footage 1,200

Parking 2 dedicated

Pet Policy Cats, Dogs, Conditional

Deposit $1,075

Call:952-356-2204

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

2xx 33rd st w, Minneapolis, MN Uptown

Bedrooms 5

Bathrooms 2 full, 0 partial

Sq Footage 2,500

Parking 2 dedicated

Pet Policy Cats, Dogs deposit

Call:952-356-2204

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

41xx Russell Ave N Mpls (Victory neighborhood)

1925 Built

3bed

1bath

1car

1600+ sq ft

$1395/month plus Utilities

Full remodeled

Corner location

Sunlight into newly tiled kitchen

illuminated spacious living room

Finished basement entertainment room

Newly finished upstairs bedroom

New - carpet, paint, appliances, and H/W floors

Rent to Own Available

Rent to Own - Lease with Option to buy:

Minimum $5000 Down

1 year Term = $135,500 purchase price

2 year Term = $143,500 purchase price

3 year Term = $152,000 purchase price

Contract for Deed Available

NOT AVAILABLE FOR RENT ONLY

Agent-Dan 612-743-7279

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

For Rent in Burnsville

2 bed/2bath Executive styled Townhouse in $1195

Please call: Owner's Partner Roc 612-220-7227
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

For Rent in Belle Plaine

2 bed apartment (owner pays everything except electricity) $799

Please Call: Owner's Partner-Roc 612-220-7227
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

Edina

Rent to Own

Condo 1 bedroom

$799/month + $3900 option money

$119,900 for sale

remodeled, fitness area, golf area, centential lakes

washer and dryer, huge closets

Agent-Dan 612-743-7279 (list agent)
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

38xx Chicago

Contract for Deed

$159,900

email if you have 4%-7%+ down

Interest Rate 6.99%

Term 360 months (30 years)

Loan $152,985.00

Payment $1,016.79

Int only $891.14

Tax $171.17

2054

Ins $41.67

Total Pymt: $1,229.62

owner/agent
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

16xx DAYTON, ST. PAUL

$199,900

Contract for Deed

Email if you have 4%-7%+ Down

3 Bedrooms on 2nd Floor

Cool Upper Deck off of the Bedroom

Extra Large Main Bathroom

Recently Renovated Kitchen

Center Island in Kitchen

1/4 bath in Basement

Full Width front porch

Living Room with picture windows

Formal Dining Room

Short walk to Snelling bus and shopping

Fenced Yard

owner/agent
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

156xx 52nd Ct. NE St. Michael, MN

525K resale price- new furnace,

exterior paint/siding, new flooring inside.

(this appraised a few years ago at 800K,

it is 5,800 sf two story home on 2 acres.)

30 year fixed 5% down payment 560 score

Please Call: 763-634-1766 for loan, housing and credit questions

email: ron@minnesotainvestors.com

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

free email list of properties at: http://www.ronorr.com
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

4xx S 7th Street #2625, Minneapolis, MN 55415

$90,000 (For Sale)

0bed

1bath

550 sq ft

$255/month association fee
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

67xx Garfield Avenue , Richfield, MN 55423
$199,999 (For Sale)
Over $100k in updates last 5 years
2bed
1bath
1car
1930's built
1600+ sq ft
1/4 acre
Cul-de-sac
Lyndale East 68th street left on Garfield

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

Trappers Ridge Drive , Clear Lake, MN 55319

$177,500 (For Sale)

2bed

1bath

3car

2006 built

1600 sq ft

split-level

cul-de-sac
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

Buy package of 4plexes or 1 at a time:

Address Price Gross Rent Taxes Utilities

29xx Penn Ave N $259,000 $47,484 $3,194 $5,843

14xx 26th Ave N $259,000 $43,200 $2,714 $4,816

24xx Portland Ave S $327,000 $62,400 $3,411 $6,444

341xx Penn Ave N $259,000 $44,400 $3,647 $5,239

30xx Clinton Ave S $202,000 $45,120 $4,733 $6,310

33xx 4th Ave S $257,000 $52,800 $4,405 $6,000

17xx Fremont Ave N $259,000 $44,400 $3,069 $7,149

Details

29xx Penn Ave N: 3br 1ba units. 75% occupied, One unit available for show.

14xx 26th Ave N: 3br 1ba units. 100% occupied.

2xx Portland Ave S: 4br 2ba units. Rehab just finished.

341xx Penn Ave N: 2br 1ba units. Rehab just finished.

30xx Clinton Ave S: 3br 1ba units. 75% occupied. One unit available for show.

33xx 4th Ave S: 3br 1ba units. 100% occupied.

17xx Fremont Ave N: 2br 1ba units. 75% occupied. One unit available for show.

($211,000 discount if you buy all 7 4plexes)

Repairs needed:

Properties have been rehabbed

Minor items with vacant units to prepare for new tenants (paint, screens, etc.)

Need POF, serious investors only
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

35xx 6th Street N

$80,200 ($75,000 if cash)

3bed

1bath

1car

1020 sq ft

$850 monthly rents

$1427 property taxes

Available on Rent to Own or Contract for Deed
Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

38xx Aldrich Ave N

$109,400 ($75,000 if cash)

3bed

1bath

1car

1020 sq ft

$850 monthly rents

$1714 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

35xx 4th Street N

$90,600 ($75,000 if cash)

3bed

1bath

2car

1384 sq ft

$1100 monthly rents

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

34xx 4th Street N

$91,800 ($75,000 if cash)

3bed

1bath

1car

1108 sq ft

$900 monthly rent

$1641 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

35xx Girard Ave N

$107,000 ($75,000 if cash)

4bed

2bath

1car

1292 sq ft

$1200 monthly rents

$1922 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

38xx Colfax Ave N

$115,400 ($75,000 if cash)

3bed

1bath

2car

1239 sq ft

$979 monthly rent

$2078 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

41xx Sheridan Ave N

$105,900 ($75,000 if cash)

3bed

1bath

2car

1200 sq ft

$1100 monthly rents

$2143 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

36xx Queen Ave N

$87,800 ($75,000 if cash)

3bed

1bath

2car

1310 sq ft

$800 monthly rents

$1544 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

42xx Sheridan Ave N

$103,400 ($75,000 if cash)

3bed

2bath

2car

1212 sq ft

$1050 monthly rents

$1830 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

34xx 6th Street N

$105,800 ($75,000 if cash)

4bed

2bath

1car

1352 sq ft

$1900 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

36xx Aldrich Ave N

$119,000 ($75,000 if cash)

4bed

2bath

1car

1396 sq ft

$2420 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

37xx Girard Ave N

$109,000 ($75,000 if cash)

3bed

1bath

1car

1893 sq ft

$850 rents

$1977 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

40xx Sheridan Ave N

$104,400 ($75,000 if cash)

3bed

2bath

1car

1713 sq ft

$900 monthly rents

$2395 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

45xx Aldrich Ave N

$111,800 ($75,000 if cash)

2bed

1bath

no garage

1120 sq ft

$1200 monthly rents

$2522 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

34xx Emerson Ave N

$83,000 ($75,000 if cash)

2bed

2bath

1car

1130 sq ft

$1045 monthly rents

$1643 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

36xx Emerson Ave N

$98,200 ($75,000 if cash)

4bed

3bath

2car

1130 sq ft

$2246 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

Forward this email to a friend who may want to know about it

35xx Dupont Ave N

$101,000 ($75,000 if cash)

4bed

1bath

1car

1756 sq ft

$1100 monthly rents

$1752 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

15xx Hillside Ave N

$94,350 ($75,000 if cash)

4bed

2bath

no garage

1400 sq ft

$2321 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

19xx 24th Ave N

$91,400 ($75,000 if cash)

3bed

2bath

2car

1519 sq ft

$1599 property taxes

Available on Rent to Own or Contract for Deed

Contact info:

ron@minnesotainvestors.com

763-634-1766 for loan, housing and credit questions

Broker-MinnesotaInvestors.com, Inc.--pricing may not include buyer's agent comm.

Subscribe to my free email list for a list of 40+ properties: http://www.ronorr.com

Buy or Sell on a C/D with 5% down http://www.minnesotainvestors.com/5CD.pdf

3 EZ Steps: 1. Credit Analysis, 2. Find/Buy C/D home 3. Refinance later Call 763-634-1766

Why Rent when a loan is this easy...

2010-07-12T16:25:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/why-rent-when-a-loan-is-this-easy/)
Let me explain this, we just had someone go to a 668 score, up 160 pts in only 6 weeks.Â Â $499 for credit repair, NO foreclosure for 3 years, NO chapter 7 for 2 years, NO chapter 13 for 1 year, and just give us a few months to get your score up, and we'll get you into any of up to 30+ grant, down payment assistance or 100% loan programs, so many too choose from, all that stands in the way for most people are the 1-3 year timeframe and the $499.Â Â So why rent, when a home loan can easily be less money out of pocket than renting, save your money, use $499 for credit repair.

300+ Credit Score
$499 for a higher Credit Score
NO Foreclosure last 3 years
NO Chapter 7 last 2 years
NO Chapter 13 last 1 year

Call Me: 763-634-1766
ron@minnesotainvestors.com

38 MN properties Available For Rent and For Sale!

2010-06-28T09:38:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/38-mn-properties-available-for-rent-and-for-sale/)
This list was started around 6/25/10.Â Here is the list of all 38+ properties in Minnesota that are available, some of these will be sold right away, and this list may be taken down within a couple of weeks, so it's best to get the lastest updates about properties at: http://www.ronorr.com by joining the email list for free.

For home loan or down payment assistance questions please call: 763-634-1766
Real Estate Broker MinnesotaInvestors.com, Inc.

Property specific questions should be emailed or call at the phone #'s below.
Fixer-Upper
$63,000 cash
14xx Selby Ave, St. Paul
St. Thomas Area
Needs about 20-25k worth of work.
This is non-mls and no code issues.
Can close quickly.
This is a money maker.
If you are interested please call or email after you drive by the property.
We are looking for only serious inquiries so please be ready to move quickly.

N. Mpls For Rent
Penn Ave.
$1450/month rent
Completely remodeled
4bedroom + 5th room with no egress window
1800 sq ft

currently non-mls
34xx 31st Ave s. Mpls For Sale
4bedroom
$79,999
Needs $40,000 in fixup
$160-170+ comps
4 bedroom
2 bath
recently remodeled in 2007 with new windows and siding
approximately 400 sq feet up and 1100 on main level
built in 1911
It is in a great S. Minneapolis neighborhood.
14 blocks from light rail, close to restaurants and bars on lake st. close to airport.
Charming curb appeal.
Need cash buyer, will likely sell quickly
email me ron@minnesotainvestors.com, Inc.

27xx 18th Ave South- 6unit 10Bed/6Bath $3300 Rent, Fully Rented, Could
use new roof, some foundational work, cosmetic.Can do it for 186K, CD
is a possibility but terms are not ironed out yet. Looking to do a
cash buyer first. Please ask for Ron 612.408.6744

29xx Queen Ave North-3Bed/1Bath, Needs 15K for Section 8. REO Asking 46K
Please ask for Ron 612.408.6744

25xx Lowry Ave North-3Bed/1Bath, Needs 20K for Section 8. Asking 46K
Please ask for Ron 612.408.6744

35xx Girard Ave North-3Bed/1Bath, Needs 10K for Section 8. Asking 55K
Please ask for Ron 612.408.6744

10xx Edgerton Street-3Bed/2Bath, Cat 2, Asking 33K
Please ask for Ron 612.408.6744

8xx Bidwell in West St. Paul - 3 BR, 2BA, Recently updated -
Granite and stainless. Will go on MLS shortly. Pre MLS price is $130K.
Please ask for Ron 612.408.6744

18xx Benson, St. Paul - 4 BR, 1BA,dutch colonial -
Recently updated - Granite and stainless. Will go on MLS shortly.
Pre MLS price $150K.
Please ask for Ron 612.408.6744

7xx Cook, on East side 2 BR, 1 BA
Clean and simple - good porch, but no garage. Ready
for tenants - (former code compliance) $56K
Please ask for Ron 612.408.6744

9xx Farrington - Central St. Paul -3BR,1BA,
Ready for tenants - (former code compliance) $70K
Please ask for Ron 612.408.6744

53xx Oliver Ave N, Brooklyn Center
5BR, 2BA - Soon to be finished, complete rehab, tile,
granite and stainless. Pre-MLS price is $135k
Please ask for Ron 612.408.6744

Wholesale rehab opportunity -
20xx Sherwood. Cat 2 Code compliance - needs about 40to 50K
in work. Neighborhood is great - 125K to 150K resale.
Non conforming duplex that we would turn back into a 3 bed
SF residence. 40K with a quick close (Before we start the work).
Please ask for Ron 612.408.6744

21xx Springside Drive - Currently
listed on MLS Nice Rambler in Great location - all new...
Travertine, granite, stainless appliances, hickory
flooring, cool porch. On at 167,900K.
Please ask for Ron 612.408.6744

36xx 5th Ave S - Currently listed
on MLS $130k, 3BR, 1BA, completely renovated
inside and out, tile in kitchen and bath, new siding and
front porch. Will consider adding a garage as well. Bring an offer!
Please ask for Ron 612.408.6744

69xx Colorado Ave N, Brooklyn Park,
will be completely renovated in about 3 weeks.
4BR,2BA,3GA,client is welcome to colors of paint, flooring, carpet
and some other things. Pre MLS price is $155k.
Please ask for Ron 612.408.6744

11xx 28th St NE Mpls, Currently listed on MLS -
But could let go for less and possible bonus
if quick close. Completely renovated inside and out, tile
in kitchen and bath, new siding, new carpet throughout.
On at $140k, will let go around $135k and will add granite
for quick close. Bring an offer!
Please ask for Ron 612.408.6744

46xx Brunswick Ave N, Crystal -
Non MLS, 3BR, 1BA, 1GA, completely renovated, SS
appliances, cherry floors w/ loft. Asking $130k negotiable!
Please ask for Ron 612.408.6744

5xx Chalupsky Ave NE, New Prague,Pre-Approved Shortsale,
4BR, 3BA, 3GA, newer construction home on cul-de-sac, new appliances,
quick close possible @$160k.
Please ask for Ron 612.408.6744

38xx Chicago
Contract for Deed Prefer 7-8% down payment

Interest Rate 6.99%

Term 360

Loan $152,985.00

Payment $1,016.79

Int only $891.14

Tax $171.17

2054

Ins $41.67

Total Pymt $1,229.62

Please email ron@minnesotainvestors.com if interested Real estate broker

owner/agent

50xx Penn

Contract for deed prefer 7-8% down payment

Interest Rate 6.99%

Term 360

Loan $115,785.00

Payment $769.54

Int only $674.45

Tax $172.00

Ins $41.67

Total Pymt $983.21

Please email ron@minnesotainvestors.com if interested Real estate broker

owner/agent

16xx DAYTON, ST. PAUL

$199,900

Contract for Deed

Prefer 7-8% down payment

3 Bedrooms on 2nd Floor

Cool Upper Deck off of the Bedroom

Extra Large Main Bathroom

Recently Renovated Kitchen

Center Island in Kitchen

1/4 bath in Basement

Full Width front porch

Living Room with picture windows

Formal Dining Room

Short walk to Snelling bus and shopping

Fenced Yard

Please email ron@minnesotainvestors.com if interested Real estate broker

owner/agent

Uptown (blocks from Calhoun)

6BR 2300 a month

3BR 1200 a month

2BR 990 a month

952-356-2204

Agent

2 bed/2bath Executive styled Townhouse in Burnsville $1195

Roc 612-220-7227

2 bed apartment in Belle plaine (owner pays everything except electricity) $799

Roc 612-220-7227

Dave 763-898-2053

St. Paul

$999/month for the lease

$999 deposit

Lower level of a duplex

Minnehaha

4bed

Owner pays:

water

trash

sewer

Tenant pays:

Gas
Electric

off-street parking

has water

cheapest 4 bedroom around

has basement

has washer and dryer

Dan 612-743-7279

Edina

Condo 1 bedroom

$799/month lease + $3900 option money for rent to own

$125,000 for sale

remodeled, fitness area, golf area, centential lakes

washer and dryer, huge closets

Agent

Dan 612-743-7279

Crystal

3 Bedroom

1 Bath

1 Garage

1200 sq ft.

Rent to Own, Lease/Option

$129,900 purchase price on 2 Year Term

Minimum $4,000 Down Payment

$1295/mo plus utilities

Agent

3xx Bates, St. Paul 4Br Single
family, Rented at $1150 Tenant pays all
utilities. $89k
Please email ron@minnesotainvestors.com if interested
Real estate broker

12xx Payne Ave 3Br Single
family Rented @ $975. Tenant pays all
utilities. $59k
Please email ron@minnesotainvestors.com if interested
Real estate broker

6xx Case Ave Duplex
(up/down) Each unit: 4 Bedrooms, Living
Room, Dining
Room, Kitchen, 2 full baths, Laundry
hook-ups. Rent at $1100 each
Tenant - gas & electric; Owner -
water $149,000
Please email ron@minnesotainvestors.com if interested
Real estate broker

7xx Fifth St Duplex
(up/down) Each unit: 4 bedrooms, Living
Room, Kitchen, Laundry hook-ups. Rent
at $975 and $1100 Separate gas & electric â€“ tenant
paid; Water â€“ owner $144,000 Ask about a possible contract for deed
Please email ron@minnesotainvestors.com if interested
Real estate broker

8xx York Single Family
5+ Bedrooms, Living Room, Dining
Room, Kitchen, 2 full Baths, Main Floor Laundry
Room. Rent $1250
Tenant pays all utilities. $139,000
Please email ron@minnesotainvestors.com if interested
Real estate broker

6xx Jackson Duplex (S xS)
Each unit: 3 Bedrooms; Living Room,
Dining Room,
Kitchen; Full Basement with laundry
hook-up. Rent at $975 each
Separate gas, electric & water â€“tenant
paid $139,000 Ask about a possible C/D
Please email ron@minnesotainvestors.com if interested
Real estate broker

6xx Jackson Single
Family 3 Bedroom, Living Room, Dining Room,
Den, Kitchen. Rent at $975 Tenant pays gas,
electric and water $69,000
Please email ron@minnesotainvestors.com if interested
Real estate broker

Real Estate Services Looking, Staying, Leaving

2010-06-02T10:27:00.001-07:00

(My Original Blog Post: http://ping.fm/ar9Fk)
The following are situations to help you determine how to find your next property or work with your existing property.Â If you are looking to rent with first month's rent and a deposit.Â I know sometimes people want to try to do a rent-to-own if they have some option money and I understand that.Â The question is often asked if a contract-for-deed is possible and with a down payment of about $7500 or so it is a possibility.Â Â I will tell you that based on people's situation I talk to from the past, it's likely that they have had a foreclosure or a bankruptcy in many cases.

Because of this I'd highly recommend a credit repair service because most things can be removed off of your credit and the truth is having a higher credit score is really what you are looking for later on to get financing on that rent to own or contract for deed property that the owner is financing today.Â Don't worry if your credit score is really low, even in the 400's, you'd be surprised what's possible these days.Â For example I just saw someone go from a 520 to 638 in 60+ days of credit repair.Â Of course that's a pretty good-case scenario, but the reason I bring it up is I run into so many people who think they have to wait 7 years to get a house again, and they just stop thinking of home ownership.

The truth is that you can get home-loan financing within 3 years from a foreclosure, short sale, deed-in-lieu or whatever may have happened to you.Â Some of you didn't have a foreclosure but rather a bankruptcy, well the way bankruptcy works on getting your next home loan is that you would need to wait 12 months into a Chapter 13 bankruptcy and 24 months from Chapter 7 discharge.Â I run into people a lot that think that staying may be a better option than actually getting another place, and if your credit is good then a refinance may be your best option. I do find that a lot of people owe a little too much on their home, so really depending on where they are as it relates to payments, if they are falling behind on payments they may want to try a short-refi which does have a principle reduction with qualifying for different loan terms.

If you get into foreclosure and you insist on staying you may end up needing assistance with your bank on a loan-modification.Â If you decide along the way that you need any help with home repairs whether you are staying or leaving, I know of some people that do home-repairs.Â If you decide you don't want to stay in the house, or that you just can't make it work with your bank, your option and decision may have you selling your house.Â In the case of selling, you will find yourself with many options, at first they may seem confusing, but let me go over them one by one.Â You will need to determine if you have equity in the house, if the payment will be affordable for the long-term, and if you are current or behind on payments.Â Those three factors are all very important in the decision making process.Â So if you have a little equity, and a reasonable payment for awhile, meaning no ARM's adjusting to be too much anytime soon, you may want to offer owner financing to a prospective tenant or buyer.Â You can rent-out your place there are renter placement services that can help and if you don't want to be a landlord than there are property management companies that, for a small monthly fee, can manage just about everything from the contractor calls, collecting rents, possibly even the accounting.Â Sometimes if you offer your house for sale on a rent-to-own, where you give the buyer a locked-in price, it's possible to get a better tenant and a little more money upfront.Â You could even sell on a contract-for-deed, which is selling the house, where that buyer would hope to refinance the house in as little as 12 months in many cases.

Before I had mentioned that it's important to know if you were upside down or don't have equity in the house.Â If you owe too much after you figure out both mortgages, new home values, the cost to list with an agent, and any vacancy and time left on the market, it may make sense to sell on a short sale. Selling on a short sale works best if you get started earlier in the process, and if you wait until there is less than 4 months left in redemption, it's going to be tough to get a short sale done due to the lack of time to negotiate and market the property. At the point when you are past the sheriff sale with a few months left, you have a couple of options.Â If your house sold for really cheap at the sheriff sale, meaning that there was a low bid, you could sell over the low-bid amount. If you find that it didn't have a low bid, you are over-financed and time has run out, there is an option even up until 3 days before the end of the redemption period. I know people that will pay you for your house and deed if you ever do decide to just walk-wway.

If you have equity in your house, you can always sell and list your house with a real estate agent, and I work with many that can help with that.Â Working on your credit right now or needing to get rid of your house due to your payment or lack of equity, could just be the result of the unfortunate situations that happened in your life. I do see them ever day, they are understandable and more common than you think.Â One of the top reasons is because of health issues and large medical bills, which has caused collections, charge-offs, or possibly even judgments in your name, or on your credit report, which may have got you for wage-garnishment in the past.Â Family situations often can creep up at unexpected times.

Think about all the family situations that can come at the wrong time.Â There is divorce, back child support, and sometimes there is an unfortunate death in the family, where someone may have unexpectedly inherited a house, and they have to go through probate or an estate sale, and attorney's bills will be quite large.Â Sometimes jobs don't work out in life like we'd hoped.Â A simple job transfer having us move out of state, a job loss ourselves, or a spouse's losing his/her job.Â Also unemployment isn't always easy to get and sometimes when you do get it, it runs out and ends. Anything can hold people back from really getting a place, tax liens from the past, repossessed cars, or just simply writing a few bad checks, or having worked with some tenants that didn't pay you.Â Whichever situation you find yourself in, trust that I have an affiliate that I work with every week that works with people in all situations.Â Please email me ron@minnesotainvestors.com or you can visit my website for more information http://www.ronorr.com. I am a real estate broker and have been around the business since 2002, so let me know how I can help.

Thanks,

Sincerely,

Ron Orr, Jr.

FROM BAD CREDIT TO GREAT CREDIT

2010-05-12T12:12:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/from-bad-credit-to-great-credit/)
FROM BAD CREDIT TO GREAT CREDIT

DISCLAIMER:
My name is Ron Orr, (RonOrr.com) I have helped people in all areas of real estate since 2002. I am a Real Estate Broker with MinnesotaInvestors.com, Inc. Before answering questions below, I am not an attorney, a CPA, or an accountant. I suggest you seek legal, and/or a competent CPA's advice before making any decisions. What I am typing below is based on extensive research I have read. It's suggested that you do your own research on the topic of he information below, it's in no way to be used as: legal, tax or financial advice.
PART 1: BAD CREDIT
Before you decide to give your house back to the bank, walk away, go bankrupt, or fall behind on other payments, please read below as to the damaging effects all of this can have on your credit and life. The following on bad credit is written to try to help prevent this from happening to you. After you read all of this, I'll go into part 2, how to improve your credit score.

20-25 YEAR AFFECT OF BAD CREDIT ON YOUR LIFE:

YEAR 1: LOSING A HOUSE TO FORECLOSURE

Dealing with non-stop calls from your banks' collection department

Dealing with threatening debt letters from your bank and notice of default letters

Dealing with late fees and penalties, accruing daily

Dealing with 1st lender, 2nd lender or your association initiating a foreclosure action

Dealing with repeated unsuccessful attempts to get through to your bank by yourself

Dealing with an unreasonable and unsuccessful repayment plan

Dealing with giving the bank all of your private financial paperwork which may later be used for collection methods against you

Dealing with negotiating an unsuccessful loan modification

Dealing with getting calls from your bank at work, to your co-workers, or boss

Dealing with your family and kids getting calls from your bank at home

Dealing with bankers calling neighbor's or having them knock on your door to get a hold of you

Dealing with a banker knocking on your front door to serve your spouse or kids paperwork

Dealing with unpaid water bills and taxes, eventually becoming liens on the house

Dealing with day to day money stress, affecting your life and your families

Dealing with your house being publicly advertised in the newspaper for foreclosure

Dealing with someone to stop by and research the property for the bank for a BPO

Dealing with a sheriff sale deadline date

Dealing with a redemption period time limit and deadline

Dealing with possibly being evicted at the end of redemption

Dealing with possibly cleaning the house very well for your bank under "cash for keys"

Dealing with a possible eviction filed on your record, later making renting hard

Dealing with continued missed payments showing up on your credit report as rolling lates

Dealing with over aggressive REO agents visiting trying to get data before the bank owned listing

Dealing with the house listed with a foreclosure sign in the front yard of your neighorhood after the bank gets it back

Dealing with moving out into a cheaper place while in foreclosure, may actually hurt your "bankruptcy means" test

YEARS 2-5:

Receive collection calls from collection companies for years at work, home, during dinner and family time

The other lender(often the 2nd lender) may seek to collect on wage garnishment from the promissory note

Credit score takes a bigger dip with a foreclosure Vs. a short sale

Penalties can accrue for years on unpaid balances

High-interest can accrue for years on unpaid balances

A lender may not hire an attorney to find you for a couple of years

It may take years before you realize that the debt forces you into bankruptcy, starting a new time clock

YEARS 5-7:

Up to 5-7 years from foreclosure to get financing with lenders backed by Fannie Mae and Freddie Mac

Up to 6 years and 180 days for the creditor to file the judgment

Up to 7 years of employment background and credit checks with foreclosure shown on your credit report

Up to 7 years with foreclosure on your credit report limiting your job options or not getting certain jobs at all

While in Chapter 13 bankruptcy,repayment plan could show up as rolling late's for years on your credit report

Missing even 1 payment on a 5 year bankruptcy repayment plan possibly accrues all interest and penalties since day one.

Attorney's fees can accrue very high the entire time for every letter, or call for many years for unpaid collections

YEARS 7-10:

Foreclosure shown for 7 years on your credit report

Bankruptcy Chapter 7, 11 and 12 remain on file for 10 years from the date of filing

Bankruptcy Chapter 13 remains 7 years from the discharge date, and for a maximum of 10 years.

Tax Liens-State and Federal -if paid, remain on your credit report for 7 Years from the date of filing

Civil Judgments- 7 years from the filing date, or from the date of satisfaction.

Bankruptcy affects employment background and credit checks limiting you on certain jobs or getting a job

Bankruptcy affects receiving high-security clearance type jobs

Judgments can be collected upon for up to 10 years

Judgments are paid through bank levies, all types of property liens, or wage garnishment

YEARS 10-20:

Judgments can be renewed a 2nd time for another 10 years

When Judgment is renewed a 2nd time, you could be levied by your bank, receive liens, or wage garnishment

YEARS 20-25:

Through the next 10-year renewed judgment, you may still have money garnished from your weekly paycheck, taking years to pay back

Tax Liens- State and Federal- If not paid, they stay on your credit report indefinitely.

Child Support-Can stay on credit indefinitely

TIMELINE RECAP FOR CREDIT REPORT AND MONIES DUE:
Lifetime for unpaid state tax liens
Lifetime for unpaid federal tax liens
Lifetime for unpaid child support
Lifetime positive paid trade lines
20 Years from the end date of the 1st judgment followed by a 2nd filed renewed judgment
10 Years on a credit report for a closed positive account
10 Years for Bankruptcy Chapter 7, 11, 12 from the date of filing
10 Years maximum for Chapter 13
7 Years maximum since Chapter 13 discharge date
7 Years a foreclosure is on your credit report
7 Years as paid since date of last activity on collections and judgments
7 Years for paid state tax liens from the date of filing
7 Years for paid federal tax liens from the date of filing
7 Years for a deficiency judgment to remain on your credit report
7 Years for civil judgments from the filing date, or from the date of satisfaction
7 Years for child support payments from the date of closure
7 years of employment background, credit checks with foreclosure on your credit report
7 years of employment background, credit checks with bankruptcy on your credit report
7 years of not getting a high-security clearance job, due to bankruptcy and/or foreclosure
7 Years for max reported financing when lender is backed by Fannie Mae
7 Years for max reported financing when lender is backed by Freddie Mac
6 Years and 180 days a creditor can wait to file a judgment
5 Years a 5 year Chapter 13 repayment plan could show up as rolling late payments
5 Years accrued interest and penalties can accrue on Chapter 13 bankruptcy if you fail
5 Years for earliest reported financing when lender is backed by Fannie Mae
5 Years for earliest reported financing when lender is backed by Freddie Mac
3 Years for financing when lender is backed by FHA
2 Years for hard inquiries on your credit report
2 Years charge-offs and liens affect your score a little less
2 Years from Chapter 7 bankruptcy discharge date to get a FHA loan
1 Year into Chapter 13 bankruptcy to get a FHA loan
1 Year for financing when lender is backed by FHA and "extenuating circumstances"

3 TOP NEGATIVE FACTORS ON HOW BAD CREDIT AFFECTS YOUR DAILY LIFE:
Levies
Liens
Weekly Income Garnished

Levies-This is where the bank levies and takes money out of your bank account without notice. Depending on how much money you owe, this could happen for years. This could happen from any creditor that has a judgment against you, or if you owe any tax liens.

Liens-Liens can be placed in people's name for specific locations in the county records. Whenever you try to sell or pass title to someone else through houses or vehicles, liens can be placed on the items, where upon these liens need to be paid in order to pass clear title.

Weekly Income Garnished-Imagine having a credit secure a position to garnish up to 25% of your weekly paycheck. Depending on how much you owe, this money could be garnished for months or years from your paycheck. When you are hired to a job, remember the IRS receives your tax information.

What makes matters worse with the above is, not only will it feel like they are taking money out of your bank accounts, properties, or paychecks forever, but don't forget all of the penalties, high-interest, and very high attorney's fees that just keep accruing along the way for every letter sent, call made, and other items in the collection process..

Note: The bank levies bank accounts to which the same SS# or tax id is attached.
Note: MN has a $300,000 homestead exemption law at this time for your personal residence

OTHER NEGATIVE FACTORS ON HOW BAD CREDIT AFFECTS YOUR DAILY LIFE:
-It's very hard to apply for a home loan with bad credit
-Bad credit limit's your finance options, often giving you a loan with much higher interest rates
-You often won't get approved for a credit card
-Credit cards you are approved for will likely come with a very high interest rate
-Your auto insurance may be denied, or it may be a higher rate
-You may not be able to get a auto loan at all, forcing you to drive cars that often need repairs
-You may not be able to get a bank account
-You may not be able to open up investment accounts
-You may be denied a job when a credit check is done
-You may be forced to only get high-interest department store cards
-You may not be able to increase your credit line
-You may not qualify for a home equity line of credit in the future
-You may be forced to pre-pay for minutes on a cell phone instead of a contract
-You may not be able to get cable tv, or have to pay a very large deposit upfront
-You may have to pay a deposit upfront with your local utility or electric company
-You may not be able to get a college loan, or start a career

REMOVABLE ITEMS:
Note: Removed items off of a credit report will still show up on county public records
where a lender could do a search to find them prior to a loan approval.
Foreclosures
Short Sales
Bankruptcies
Judgments
Charge-Offs
Collections
Repossessions
Late Payments
Inquiries

NON-REMOVABLE ITEMS:
Sally Mae and DOE student loans
Child support payments
Tax liens

BEFORE YOU CAN GET A HOME LOAN:

Tax Liens-Must be on a repayment plan with a written verification letter from State, or the Federal Government
Back Child Support-Must be current, or being repaid through wage-garnishment
Judgments-Must be paid in full, prior to final approval, sourced or gift on funds
Collections-Will review each one individually, a determination is based on individual circumstances
Bad Checks-Must be paid in full prior to Pre-Approval for those on the credit report

Chapter 13 BANKRUPTCY:
There must be 12 consecutive months of on time payments on all accounts
(including utilities, cell phones,etc) from the filing of the chapter 13 bankruptcy.

Chapter 7 BANKRUPTCY:
There must be 24 months of perfect credit from the disposition of a Chapter 7 bankruptcy.

FORECLOSURE:
1 Year: Extenuating Circumstances for financing 1 year out of foreclosure
The FHA Underwriters have the ability to manually underwrite the file and get an "exception" if there are extenuating circumstances (i.e. Medical, Death, multiple job loss). Buyers would need to write out a very detailed explanation of exactly what happened, and will need to submit supporting docs (legal, medical, etc). Each File will be reviewed by Underwriting to determine if the circumstances warrant "Extenuating". If so, they will grant Pre-Approval.

*3 Years since last foreclosure if you don't qualify for above
*2-3 Years since short sale with Fannie Mae

LOAN PROGRAMS STARTING AT A 580+ CREDIT SCORE :

Alternate Credit Sources
-580+ credit Score
-12 month's into chapter 13
-2 years from chapter 7 discharge
-3 yrs from Sheriff's Sale
-12 month's Verifiable Rent (cancelled checks or Verification Form from management Company
-Insurance Bill - letter from Agent of 12 month's on time payments
-Utilities - letter from Company of 12 month's on time payments

580+ Mid Credit Score
580+ Mid Credit Score
580-619 Guidelines:
-12 month's Verifiable Rent Payments - On time
-3.50% of Purchase Price in Seasoned Funds (must be in your bank account, 60 days+)
-2 Open Trade Lines (active accounts) on your credit bureau reports
580+ Mid Credit Score* 60+ day seasoned funds, must have 3 open trade lines with a 12 month history

Federal Housing Administration Loans - OK to 580 scores
- Minimum 580 minimum middle FICO score required
- Great for first time homeowners
- 30 Year Fixed Rates Only
- Low, government sponsored, monthly Mortgage Insurance payments
- Owner Occupied Only
- 12 months verified rent history required
- Down payment MUST come from borrowers own funds
- Gifts allowed for all closing costs
- Compensating factors required for 580 scores
- NO declining market restrictions

PART 2: GREAT CREDIT

Credit Score % Breakdown:
35 percent - An individual's history of making credit payments on time
30 percent - Amounts owed vs. Credit Available
15 percent - The age and length of an individual's open credit lines
10 percent - The frequency with which someone applies for new credit
10 percent - Types of credit used

TOUGH CHOICE: 3 CHOICES TOWARD IMPROVEMENT
A. Manage your bills and pay them off
B. Negotiate collections/judgments with creditors
C. Test for Chapter 7, seek advice on filing for bankruptcy

REBUILD A POSITIVE CREDIT HISTORY: 3 OPTIONS
A. Add a primary user's positive trade line which increases utilized credit to available credit ratio
B. Deposit cash into a CD at banks, take a loan out on the CD, make payments on time, have reported
C. Deposit cash on new secured credit cards, make payments on time, have reported to credit bureaus
SECURED CREDIT CARD SOURCES:
Credit.com secured cards
Credit.com for bad credit
Credit.com pre-paid and debit
Credit.com cards for no credit
CreditCards.com pre-paid-debit
CreditCards.com for bad credit
Secured credit cards

CREDIT REPAIR:
Phone/Voicemail: 763-634-1766-These calls will be answered by a loan officer and/or a buyer's agent
ron@minnesotainvestors.com

NEVER BE LATE: One 30 day late payment could cause your score to drop 100-140 points

NEVER MAX OUT CREDIT CARDS:
(Goal: Balances under 20% preferred on all, then 30%, then 50%, then 70%)

GET SECURED CREDIT CARDS: Your on-time payments will create a positive payment history

DISTRIBUTE BALANCES EVENLY: distribute over all credit cards
(Goal: Balances under 20% preferred on all, then 30%, then 50%, then 70%)

CREDIT MIX: Establish various types of credit, mortgage, car loan, credit card account

DON'T CLOSE UNUSED CREDIT ACCOUNTS:
(This may be your long-term credit history which factors into your score)

INCREASE CREDIT LIMITS ON YOUR CREDIT CARDS:
(hIgher limits on your credit cards lowers your utilized/available credit ratio percentage)

LIMIT YOUR CREDIT INQUIRIES
(Each one can lower your credit score a few points)

DON'T OPEN TOO MANY ACCOUNTS WITHIN A SHORT PERIOD OF TIME

GET A CHECKING OR SAVINGS ACCOUNT
(Always keep a positive balance)

AVOID DEBT CONSOLIDATION PROGRAMS:
(This may continue to report as rolling late payments for years)

WATCH FOR CREDIT CARDS THAT REPORT YOUR HIGHEST BALANCE AS HIGH LIMIT
(Some credit card companies will report your highest balance to date, as the new credit limit, making you appear maxed out)

CREDIT BUREAUS MAY UPDATE BALANCES AT DIFFERENT TIMES OF THE MONTH THAN YOUR PAYMENT

ADD POSITIVE TRADE LINES TO YOUR CREDIT REPORT

HAVE A PROFESSIONAL NEGOTIATE CHARGE-OFFS, COLLECTIONS & JUDGMENTS AFTER A CLOSING

OPEN BUSINESS CREDIT, IT DOESN'T SHOW UP ON YOUR PERSONAL CREDIT REPORT UNLESS LATE

BANKRUPTCY INITIALLY HURTS YOUR CREDIT

CREDITORS ARE NOT REQUIRED TO REPORT TO THE CREDIT BUREAUS

HAVE PAID COLLECTIONS AND JUDGMENTS DELETED OFF VS. REPORTING AS 'PAID IN FULL'

BECOME AN AUTHORIZED USER ON SOMEONE ELSE'S ACCOUNT

DISSOLVE JOINT ACCOUNTS AFTER A DIVORCE

CONTACT ME:
Please answer these questions on your first Voicemail/Email before looking for a home
1. Credit score of everyone to be on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone to be on the loan
3. How long of consistent work for everyone to be on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

Phone: 763-634-1766-These calls will be answered by a loan officer and a buyer's agent
ron@minnesotainvestors.com

Walking away Vs. a Short Sale

2010-05-08T11:02:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/walking-away-vs-a-short-sale/)
What are the disadvantages from walking away in foreclosure Vs. Selling on a Short Sale?

SOLUTION: I believe selling on a properly executed short sale is better than walking away.

DISCLAIMER:
Before I answer questions below, I am not an attorney, a CPA, or an accountant. I suggest you seek legal,and/or competent CPA's advice before making any decisions. What I am typing below is based on extensive research I have read. It's suggested that you do your own research on the topic of he information below, it's in no way to be used as: legal, tax or financial advice.

SELLING SHORT SALE SOLUTION: SOLVING THE PROBLEM SOONER Vs. SUFFERING CONSEQUECES LATER:

With a short sale, typically within only 4-8 months you have put almost everything behind you. A properly done short sale can work towards a satisfaction of the mortgages and promissory notes, eliminating the possiblities of a future deficiency judgment against you personally. People often like to mention that short sales takes months to complete, but what they should realize is that the negotiator, agent, or investor is the one that spends 95% of the time following up. The homeowner simply just waits and doesn't have to do much work at all other than allow for the house to be shown and sign some paperwork upfront. Little to any money is involved on the seller's end, as the bank pays the majority of the fees. Seller's may have to pay any past due associate fees and or required city inspections. Those are required WHENEVER you sell a house, regardless if you sell on a short sale.

WALKING AWAY CAN HAUNT YOU LATER ON:

Walking away and letting the bank take the house back seems like an easier solution today, to many, as it doesn't appear to take any work, you don't have to keep thinking about the central focus of your problem today, your house. This is because you don't know what you don't know.

"Walking away from your house is like sweeping everything under the rug, eventually, it has to be dealt with, for now you don't have to look at it or think about it, but later it comes back with an escalating number of cockroaches and ants, requiring an exterminator."

BEFORE 2012, THERE ARE SOME TAX BENEFITS:

It's true that there are some great benefits currently before 2012 allowing homeowners some great tax credits on losses due to foreclosure and short sales. This can be seen through the IRS website IRS.gov under The Mortgage Forgiveness Debt Relief Act and Debt Cancellation
http://www.irs.gov/individuals/article/0,,id=179414,00.html

This is great, but this is independent of the other issues. What I am saying is this only covers taxes, not deficiency judgments and lender collection attempts and wage garnishment. The lender who DOES NOT do the foreclosure by advertisement would like to collect the judgment later.

Note: Remember when you signed your mortgage and got a house loan you also signed a promissory note, obligating you to pay your creditor/bank/lender.
You heard this goes away with foreclosure, but you only half heard what you wanted to. Please read below, it is true that foreclosure by advertisement does waive the right by THAT lender to seek a deficiency later. The key word is THAT. In some cases, it may be true that only 1 lender likely initiated foreclosure waiving their rights. You may want to seek an attorney's advice on this point. I suggest getting a satisfaction with the 2nd lender on a property executed and negotiated short sale.

FORECLOSURE BY ADVERTISEMENT:

Foreclosure by advertisement is by far the preferred method of foreclosure because it faster, more simple and less expensive. Foreclosure by advertisement is only for mortgages that include a power of sale clause. A power of sale clause simply grants the lender the right to sell the property upon default.

DEFICIENCY JUDGMENT: THE #1 THING YOU ARE TRYING TO AVOID

"If the foreclosure sale does not bring in enough money to pay off the debt, the creditor may be able to obtain a deficiency judgment against the mortgagor. If the statutory redemption period is six months, however, such a deficiency judgment can be obtained against the mortgagor only if the foreclosure was by action. No deficiency judgment can be obtained against the mortgagor if the redemption period is six months and foreclosure was by advertisement. If the redemption period is twelve months, however, a deficiency judgment can be sought. Finally, even if the redemption period is six months, a deficiency judgment can be sought against any guarantors of the promissory note." -source http://www.extension.umn.edu/distribution/businessmanagement/df7297.html

ONLY 1 LENDER INITIATED THE FORECLOSURE:

Keep in mind that often the 1st lender is the one that initiated the foreclosure. Often there is a 2nd lender in the equation who DID NOT initiate a foreclosure that does have a promissory note signed by the borrower, which they can use later against you.

DECISION TIME:

Typically what's going to happen, is that the homeowner will decide either to:
A: Give the house back (walk away-Foreclosure)
B: Sell on a short sale

BEST SOLUTION: SELLING ON A SHORT SALE:

Often when selling on a short sale the 2nd lender will release the lien/mortgage from the house, so that the seller can sell the house to the new buyer. Notice I said release, not cancel. What this could do is make it so that the seller owes the 2nd mortgage company even more money down the road. Often the 1st mortgage lender needs to know about this as the 1st lender only agrees to give up a short sale discount based on dictating what the 2nd lender will receive. At this point Private Mortgage Insurance (PMI) and others can get involved as well as the investors backing the loan such as FHA, Freddie Mac, Fannie Mae, servicers, etc.

Short sales can be the right solution, but often are too complex for a homeowner to try to do on their own. Homeowners may get ahold of the bank after numerous phone calls for months and eventually get the house sold, but often with major mistakes along the way, that they may not catch until years later. That's why hiring a professional short sale negotiator is recommended.

With the above, we discussed doing a short sale, solving the problem and wrapping it up within 8 months or less on average. With a successful short sale you should be able to often receive a satisfaction on the loan. You should be able to minimize taxes, especially before 2012 based on current laws. The short sale itself has a minimal impact from obtaining your next loan in 2-3 years, provided you qualify in the other required areas. A full foreclosure could take 5-7 years with Fannie Mae and Freddie Mac, 3 years with FHA, currently less under extenuating circumstances with job loss, or medical. A short sale should have less of a credit score impact than a foreclosure. Source: http://www.wecallyourbank.com/FREE/shortsalevsforeclosure.pdf

ALTERNATIVE TO A SHORT SALE:
WALKING AWAY:GIVING THE HOUSE BACK:FULL FORECLOSURE

When walking away from your home and giving the house back through foreclosure, your problem doesn't easily go away, in fact, it may linger on for many years. For now it appears to be the easier solution. It may give you more peace of mind today since you don't have to think about it right now. It's very likely you will have to think about the repurcussions of walking away for years into your future. Let me discuss some things you have to look forward to, if you choose to walk away Vs. selling on a short sale.

Important Note: Those doing loan modifications, then later walking away after 2012, are even worse off as the IRS tax benefit expires after 2012. See: The Mortgage Forgiveness Debt Relief Act and Debt Cancellation http://www.irs.gov/individuals/article/0,,id=179414,00.html

SOLUTION: Sell on a short sale before 2012 if you are or will be over-financed on your home.

FUTURE PAIN OF WALKING AWAY:
(FORECLOSURE RECORD AND ON YOUR CREDIT REPORT)
ENVISIONING YOUR LIFE'S FUTURE THE NEXT 20-25 YEARS:
HINT:(IT'S NOT A WONDERFUL LIFE)

YEAR 1:

Dealing with non-stop calls from your banks' collection department

Dealing with threatening debt letters from your bank and notice of default letters

Dealing with late fees and penalties, accruing daily

Dealing with 1st lender, 2nd lender or your association initiating foreclosure action

Dealing with repeated unsuccessful attempts to get through to your bank by yourself

Dealing with an unreasonable and unsuccessful repayment plan

Dealing with giving the bank all of your private financial paperwork which may later be used for collection methods

Dealing with negotiating unsuccessful loan modifications

Dealing with getting calls from your bank at work or to your co-workers, or boss

Dealing with your family and kids getting calls from your bank at home

Dealing with bankers calling neighors or having them knock on your door to get ahold of you

Dealing with a banker knocking on your front door to serve your spouse or kids paperwork

Dealing with unpaid water bills and taxes, eventually becoming liens on the house

Dealing with day to day money stress, affecting your life and your families

Dealing with your house being publically advertised in the newspaper for foreclosure

Dealing with someone to stop by and research the property for the bank for a BPO

Dealing with a sheriff sale deadline date

Dealing with a redemption period time limit and deadline

Dealing with possibly being evicited at the end of redemption

Dealing with possibly cleaning the house very well for your bank under "cash for keys"

Dealing with a possible eviction filed on your record, later making renting hard

Dealing with continued missed payments showing up on your credit report as rolling lates

Dealing with over agressive REO agents trying to get data before the bank owned listing

Dealing with the house listed with a foreclosure sign in the front yard of your neighorhood after the bank gets it back

Dealing with moving out into a cheaper place while in foreclosure, may actually hurt your "bankruptcy means" test

YEARS 2-5:

Receive collection calls from collection companies for years at work, home, during dinner and family time

The other lender(often the 2nd lender) may seek to collect on wage garnishment from the promissory note

Credit score takes a bigger dip with a foreclosure Vs. a short sale

Penalties can accrue for years on unpaid balances

High-interest can accrue for years on unpaid balances

A lender may not hire an attorney to find you for a couple of years

It may take years before you realize that the debt forces you into bankruptcy, starting a new time clock

YEARS 5-7:

Up to 5-7 years from foreclosure to get financing with lenders backed by Fannie Mae and Freddie Mac

Up to 6 years and 180 days for the creditor to file the judgment

Up to 7 years with a foreclosure shown on your credit report

Up to 7 years of employment background and credit checks with foreclosure shown on your credit report

Up to 7 years with foreclosure on your credit report limiting your job optios or not getting certain jobs at all

While in Chapter 13 bankruptcy,repayment plan could show up as rolling lates for years on your credit report

Missing even 1 payment on a 5 year bankruptcy repayment plan possibly incures all interest and penalties since day 1

Attorney's fees can accrue very high the entire time for every letter, or call for many years for unpaid collections

YEARS 7-10:

All discharged bankruptcies, whether a state or federal filing remain on a Credit report for 10 years

A dismissed chapter 13 remains for 7 years

A dismissed chapter 7 remains for 10 years

Bankruptcy affects employment background and credit checks limiting you on certain jobs or getting a job

Bankruptcy affects receiving high-security clearance type jobs

Judgments can be collected upon for up to 10 years

Judgments are paid through bank levies, all types of property liens, or wage garnishment

YEARS 10-20:

Judgments can be renewed a 2nd time for another 10 years

On the 2nd renewed judgment, you could be levied by your bank, receive liens, or wage garnishment

YEARS 20-25:

Through the next 10-year renewed judgment, you may still have money garnished from your weekly paycheck, taking years to pay back

----------------------------------------------------------------------------------------------------

Please contact: ron@minnesotainvestors.com if you would like to sell on a short sale, or
if you already gave your house back to the bank and need a place to live, and future loan.
http://www.ronorr.com/2010.html
Real Estate Broker
MinnesotaInvestors.com, Inc.

Short Sale vs. Loan Modification vs. Short-Refi

2010-05-05T10:04:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/short-sale-vs-loan-modification-vs-short-refi/)
You are in your current home right now and you are deciding what to do, you are looking at all of your options:
There is 1 decision you MUST consider as the first step:
Are you staying in your house, or leaving your house?

Let's go one step further...
Do you want to stay, or are you being forced to leave your house.
We understand why you want to stay, you have money in the house, your kids grew up in the house, they are in the
school system, and many other reasons.
Let's look at the reasons that you are being forced to leave your house:
A: Your payment is adjusting upward and you can't afford it
B: You, a spouse, significant other or family member have lost their job
C: You have had some health problems and set backs
D: You have far too much debt or credit card debt
E: You are near bankruptcy
F: The house needs too much fix up, or maintenance and you can't afford it
G: Their has been a death in the family, and costs are incurred
As we've discussed above there are a lot of reasons why you must leave a house.

Below I am going to discuss all of the major options for leaving your house and staying in your house,
Then I am actually only go into detail on Short Sale, Loan Modification and Short-Refinance.

Staying in your house
1. Do a Short-Refi-
-Before foreclosure is filed
-Current lender or new qualified FHA lender
-Close within 120 days or less
-Loan amount for new BPO at market value
-Approximately $225 out of pocket
-Need tax returns, w-2’s, 1099’s, check stubs, bank statements, etc
-Discharged Debt (Taxes possible see Mortgage Debt Relief Act of 2007)
-Debt-to-income as high as 45%
-Don't need to be behind in payments
2. Do a Loan Modification-
-Usually no loan principle reduction
-Usually redo the amortization
-Usually redo the interest rate, sometimes lower
-Usually fixed interest rate
-Usually if you are behind in payments
3. Do a Foreclosure Extension-
-Delay foreclosure 6-12 months
-Doesn't always work with a short sale
-Great for little time left in redemption
4. Do a Refinance-Rate/Term and Cash-out Refinance
FHA Streamline
620 Minimum (currently)
No Appraisal
No Income Verification
No Asset Verification
Will need to Credit Qualify
Cash Out up to 85% LTV will require new Appraisal

Rural Development Streamline
620 Minimum (currently)
Available with or without Appraisal
Income and Assets Verification Required
Will need to credit qualify
Cash Out up to 95% will require new Appraisal

VA Streamline
620 minimum (currently)
Appraisal may not be required (varies by Lender)
Income/Asset Verification may not be required (varies by Lender)
Will need to credit qualify
Cash Out will require new Appraisal

Leaving your house
1.Rent out your property-
-If you aren't in foreclosure, or don't plan on it
-If rent may be less than your mortgage payment, must be able to afford
-Can provide you with property management
-Provide you with rental placement of the tent, credit checks, marketing, etc
-Renters insurance recommended
2.Lease Option your property-
-Ideal for a little bit more of a serious renter with an option to buy
-Could be your potential future buyer
-Typically a little more money upfront with an option vs. a deposit
-RTO buyer recommended to enter credit repair
-Owner still pays insurance and property taxes
-House shouldn't be over-financed
-Repairs are negotiable in the contract
-Option and monthly payment credits towards purchase are negotiable
-12-36 months until financing are standard terms
-Renters insurance recommended
-Owners judgments could still attach to the house
-Once recorded owner may not easily be able to file new mortgages
3.Sell on a Contract for Deed-
-May make sense for taxes on an installment sale, ask your accountant
-Buyer pays property taxes and insurance, added additionally insured recommended
-Buyer puts down 5-10% typically
-Down payment should be able to be used for future purchase
-12 months of on-time payments typically qualifies for a buyer's refinance
-Owner still has the deed
-Minnesota law requires to be recorded
-Owners judgments could still attach to the house
-Once recorded owner may not easily be able to file new mortgages
-Seller please see due-on-sale clause in mortgage contract per the lender
-Quick closing
4.Sell your House's Deed-
-If you don't think you can sell, sell your deed and the house, vacate the house
-If you have little equity, sell your deed and the house, vacate the house
-Mortgage will still stay in owner's name until new buyer gets a loan and pays off liens
5.Sell your equity house by listing it-
-List it on the MLS
-Full service listing/marketing/selling by a listing agent
-Agent shows houses, or has a buyer's agent show houses
6.Sell for higher than the low bid at the sheriff sale-
-These days, lenders often sell short at the sheriff sale off the original loan amount
-List it on the MLS for more than the low bid amount at the sheriff sale
-Full service listing/marketing/selling by a listing agent
-Agent shows houses, or has a buyer's agent show houses
7.Sell on a Short Sale-
-Best for little, no equity, or over-financed houses
-Beneficial for satisfaction and discharging debt negotiating
-Minimal fees- city inspection, association dues may apply
-Great for those with 2nd and 3rd mortgages
-Great when you want to sell
-Take many months of bank negotiating, and listed on the market
-Often you can take advantage of the mortgage debt relief act until 2002
8.Property Management-
-Renter placement
-Fix up and contractor calls taken care of
-Leases
-Credit/background checks
-Can manage entire portfolio's
-much much more

*If you can't sell, by renting or selling on a contract for deed, you can count 75% of rental income to offset your
Debt-to-Income Ratio (total monthly payments divided by gross income) when qualifying for a loan
*if there is an outstanding mortgage debt, must have 6 months PITI and MI in reserves for both properties"
*FYI, there is a very beneficial IRS tax law that requires you to live in your house 2 of the last 5 years before selling

Now that you as the homeowner know your options, let me discuss: Short Sales, Loan Modifications, and Short-Refinance

Deciding amongst the 3 options above come down to this:
Staying = Loan Modifications and Short-Refinances
Leaving/Selling=Short Sale

Principle Reduction (Discharged Debt) *Possible tax benefits until 2012 see Mortgage Debt Relief Act of 2007 IRS.gov
Short Sales reduce the principle balance so that you can sell
Short-Refinances reduce the principle balance so that you can adjust for a new lesser loan amount
Loan Modifications as a general rule will not offer the principle balance, even upon success, you may miss the 2012 deadline above

Timelines
The timeline you are at in the process may determine which option you need to go with:
0 payments behind-Generally a short-refinance is best, a short sale can be tough, but doable if it looks like you may fall behind
1-3 payments behind-Generally all 3 are a good option in this situation, just decide if you are staying or leaving, and principle reduction
Entered foreclosure-At this point loan modification and short sale are your two options decide if you are staying or leaving
After the sheriff sale-At this point short sale is your option, you have to come up with the full loan balance or sell on a short sale
After the sheriff sale-If your house sold for much less at the sheriff sale, then you could list the house for sale over that amount
4 months left in redemption-This is the minimum amount recommended to have time to negotiate and market your property
3 months or less in redemption-With little time left, a foreclosure extension may be your only option, please contact me

Money
Expensive-Most loan modification 3rd party companies want money upfront for doing loan modifications, sometimes in the thousands
Affordable- Short-refinances can be as little as $225. Short Sales are no cost, but selling may require assoc. dues, city inspections, both affordable.

Qualifying
Not Qualified-If you shouldn't have been qualified originally or your circumstances may have changed you may not qualify for a loan mod or short-refinance
Qualified-If your credit/assets/money/job/debt ratio look strong on paper, then you may qualify for better rates and terms

Situation
Divorce may force you to sell
Probate or a death may force you to sell
Separation may force you to sell
Job transfer may force you to sell
Growing family may cause you to sell
Kids moving out may cause you to sell
Retirement may cause you to sell
Job loss may cause you to sell

As you can see much of the above is based on the factors that you decide, and the situations that decide for you.
Generally speaking when you try to qualify for a loan modification or a short-refinance, the qualifying will be like a home loan, but usually not as tough.
In all cases, short-refinance, loan modification and short sale, you have to prove to the lender your financial situation good or bad and why you
deserve to negotiate away your debt, or in the case of staying why you need better rates and terms. In all scenarios as you can imagine the lenders
will need to see paperwork and gather your financial information to see the full picture of why they will work with you. Below I have created a list
of what will be needed for all three. Please keep in mind that I used home loan qualifying steps for Short-refinance and loan modifications, whereas
they usually require a few less things, but could require a few different things.

I'd appreciate an email to ron@minnesotainvestors.com on your situation and how I can help you. At this time I am looking to work with
those not currently working with an agent/broker.

Short-Refinance and Loan Modifications

Pre-Approval Checklist-(It's recommended that you are pre-approved before looking at homes)
1003 Application Form for home loans Filled out by: Phone, Fax, In-Person, Mail, or Email (Please write Ron Orr on top)
Employment
____ Name, address and phone number of employers for the past two years
____ Copy of pay stubs for the previous 30 days
____ Copy of last 3 years w-2/1099 forms
____ Copy of last 3 years complete federal tax returns with all Schedules)

Self-employed
____ Copy of last two years tax returns (personal and corporate);
____ year to date P&L and Balance Sheet through the most recent quarter, must be certified by Accountant/CPA

Liabilities
____ Name and account numbers for all revolving and installment accounts
____ Name and account number for all mortgage loans for the previous two years
____ Name and address for landlords for the previous 3 years

Assets
____ Name, address, and account number for all bank accounts
____ Name, address, and account numbers for all brokerage accounts
____ Copies of statements covering last 3 months on asset accounts
____ Copy of most recent statement for 401K, Savings Plan, etc.

Miscellaneous
____ Copy of driver's license and social security card
____ Copy of fully executed divorce decree if applicable
____ Copy of fully executed child support court order if applicable
____ Copy of signed earnest money contract
____ Copy of lease agreements on rental properties. must have 2 year history reflected on Taxes to use Rental/Border income
____ Veterans! Copy of DD 214 and Eligibility Cert. if you have it, if not need Company Clerk contact info
____ Check for the cost of your credit report and appraisal

Short Sale Information:

Property Title Info:
Currently Single?
Divorced?
Divorced When? Borrower Info:
First Name:
Last Name:
Home Phone:
Cell Phone:
Best Time to Call:
Email:
Fax: Co-Borrower Info:
First Name:
Last Name:
Home Phone:
Cell Phone:
Best Time to Call:
Email:
Fax:

1^st Lender Info:
Lender Name:
Amount Owing:
Monthly Payment:
Payments Behind:
Reinstatement Amount:
Type of Loan: Conventional, FHA,VA
Do you pay PMI:
Account #:

2^nd Lender Info:
Lender Name:
Amount Owing:
Monthly Payment:
Payments Behind:
Reinstatement Amount:
Type of Loan: Conventional, FHA,VA
Do you pay PMI:
Account #:

Property Info:
Are you working with a real estate agent currently? MLS#?
Address: City: Zip: County:
Bed: Bath: Garage Stalls:
Property Style Type: Multi-Unit? Sq Ft? Year Built?
Estimated Market Value:
Does it need repairs: Estimated $:
List of repairs needed:
Sheriff Sale Date:
End of Redemption Date:
Is the property currently occupied or vacant?
Have you had a bankruptcy? Date When? Date Discharged: Chapter 7? Chapter 13?
Other liens on the property? Any judgments? Past due water bills? Past Due Taxes?

Short Sale Documents that we will need soon from the homeowner are:
1. Signed Authorization to Release form
2. Tax returns for the last 2 years (1040)
3. Pay stubs from last 2 months (+spouse)
4. Bank statements last 3 months+ (joint accounts)
5. Recent mortgage statements for all properties
6. Hardship letter (handwritten)
7. Financial form will be provided
8. P&L statement for Self Employed and Properties

Leaving Your House Vs. Staying

2010-05-03T20:51:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/leaving-house-vs-staying/)
HTML clipboard C: Leaving your house
1.Rent out your property-
-If you aren't in foreclosure, or don't plan on it
-If rent may be less than your mortgage payment, must be able to afford
-Can provide you with property management
-Provide you with rental placement of the tent, credit checks, marketing, etc
-Renters insurance recommended
2.Lease Option your property-
-Ideal for a little bit more of a serious renter with an option to buy
-Could be your potential future buyer
-Typically a little more money upfront with an option vs. a deposit
-RTO buyer recommended to enter credit repair
-Owner still pays insurance and property taxes
-House shouldn't be over-financed
-Repairs are negotiable in the contract
-Option and monthly payment credits towards purchase are negotiable
-12-36 months until financing are standard terms
-Renters insurance recommended
-Owners judgments could still attach to the house
-Once recorded owner may not easily be able to file new mortgages
3.Sell on a Contract for Deed-
-May make sense for taxes on an installment sale, ask your accountant
-Buyer pays property taxes and insurance, added additionally insured recommended
-Buyer puts down 5-10% typically
-Down payment should be able to be used for future purchase
-12 months of on-time payments typically qualifies for a buyer's refinance
-Owner still has the deed
-Minnesota law requires to be recorded
-Owners judgments could still attach to the house
-Once recorded owner may not easily be able to file new mortgages
-Seller please see due-on-sale clause in mortgage contract per the lender
-Quick closing
4.Sell your House's Deed-
-If you don't think you can sell, sell your deed and the house, vacate the house
-If you have little equity, sell your deed and the house, vacate the house
-Mortgage will still stay in owner's name until new buyer gets a loan and pays off liens
5.Sell your equity house by listing it-
-List it on the MLS
-Full service listing/marketing/selling by a listing agent
-Agent shows houses, or has a buyer's agent show houses
6.Sell for higher than the low bid at the sheriff sale-
-These days, lenders often sell short at the sheriff sale off the original loan amount
-List it on the MLS for more than the low bid amount at the sheriff sale
-Full service listing/marketing/selling by a listing agent
-Agent shows houses, or has a buyer's agent show houses
7.Sell on a Short Sale-
-Best for little, no equity, or over-financed houses
-Beneficial for satisfaction and discharging debt negotiating
-Minimal fees- city inspection, association dues may apply
-Great for those with 2nd and 3rd mortgages
-Great when you want to sell
-Take many months of bank negotiating, and listed on the market
-Often you can take advantage of the mortgage debt relief act until 2002
8.Property Management-
-Renter placement
-Fix up and contractor calls taken care of
-Leases
-Credit/background checks
-Can manage entire portfolio's
-much much more

*If you can't sell, by renting or selling on a contract for deed, you can count 75% of rental income to offset your
Debt-to-Income Ratio (total monthly payments divided by gross income) when qualifying for a loan
*if there is an outstanding mortgage debt, must have 6 months PITI and MI in reserves for both properties"
*FYI, there is a very beneficial IRS tax law that requires you to live in your house 2 of the last 5 years before selling

CONTACT ME:

Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Please answer these questions on your first Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

Staying in your home vs. Selling

2010-05-01T11:03:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/staying-in-your-home-vs-selling/)
B: Staying in your house
1. Do a Short-Refi-
-Before foreclosure is filed
-Current lender or new qualified FHA lender
-Close within 120 days or less
-Loan amount for new BPO at market value
-Approximately $225 out of pocket
-Need tax returns, w-2’s, 1099’s, check stubs, bank statements, etc
-Discharged Debt (Taxes possible see Mortgage Debt Relief Act of 2007)
-Debt-to-income as high as 45%
-Don't need to be behind in payments
2. Do a Loan Modification-
-Usually no loan principle reduction
-Usually redo the amortization
-Usually redo the interest rate, sometimes lower
-Usually fixed interest rate
-Usually if you are behind in payments
3. Do a Foreclosure Extension-
-Delay foreclosure 6-12 months
-Doesn't always work with a short sale
-Great for little time left in redemption
4. Do a Refinance-Rate/Term and Cash-out Refinance
FHA Streamline
620 Minimum (currently)
No Appraisal
No Income Verification
No Asset Verification
Will need to Credit Qualify
Cash Out up to 85% LTV will require new Appraisal

Rural Development Streamline
620 Minimum (currently)
Available with or without Appraisal
Income and Assets Verification Required
Will need to credit qualify
Cash Out up to 95% will require new Appraisal

VA Streamline
620 minimum (currently)
Appraisal may not be required (varies by Lender)
Income/Asset Verification may not be required (varies by Lender)
Will need to credit qualify
Cash Out will require new Appraisal

CONTACT ME:

Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Please answer these questions on your first Voicemail/Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

Looking for Housing:Rent,Rent to Own,Contract for Deed,Home Loan

2010-04-30T11:05:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/looking-for-housingrentrent-to-owncontract-for-deedhome-loan/)
FUTURE
A: Looking for housing
1. Looking to Rent
1st month's rent + deposit, available date to move-in, monthly rent, min bedrooms, cities, housing type
2. Looking for a Rent to Own
1st month's rent + option money 3%+, available date to move-in, monthly rent, min bedrooms, cities, housing type
3. Looking for a Contract for Deed
5% down minimum, 10%+ encouraged, available date to move-in, monthly payment, cities, housing type Often you can refinance into a loan after 12 months of on-time payments
4. Looking for a Home Loan
LOAN PROGRAMS:
-FHA
-FHA 203K (For rehabbers, provides extra repair money)
-VA
-Conventional
-HomePath (Owner Occupied and Investment - can have up to 10 invest properties!!)
-Manufactured and Modular Homes
-Rural Development

*Alternate Credit Sources*
-580+ credit Score
-12 month's into chapter 13
-2 years from ch 7 discharge
-3 yrs from Sheriff's Sale
-12 month's Verifiable Rent (cancelled checks or Verification Form from managment Company
-Insurance Bill - letter from Agent of 12 month's on time payments
-Utilities - letter from Company of 12 month's on time payments

*580+ Mid Credit Score*
*580+ Mid Credit Score*
580-619 Guidelines:
-12 month's Verifiable Rent Payments - On time
-3.50% of Purchase Price in Seasoned Funds (must be in your bank account, 60 days+)
-2 Open Trade Lines (active accounts) on your credit bureau reports

Pre-Approval Checklist
Employment
____ Name, address and phone number of employers for the past two years
____ Copy of pay stubs for the previous 30 days
____ Copy of last 3 years w-2/1099 forms
____ Copy of last 3 years complete federal tax returns with all Schedules)

Self-employed
____ Copy of last two years tax returns (personal and corporate);
____ year to date P&L and Balance Sheet through the most recent quarter, must be certified by Accountant/CPA

Liabilities
____ Name and account numbers for all revolving and installment accounts
____ Name and account number for all mortgage loans for the previous two years
____ Name and address for landlords for the previous 3 years

Assets
____ Name, address, and account number for all bank accounts
____ Name, address, and account numbers for all brokerage accounts
____ Copies of statements covering last 3 months on asset accounts
____ Copy of most recent statement for 401K, Savings Plan, etc.

Miscellaneous
____ Copy of driver's license and social security card
____ Copy of fully executed divorce decree if applicable
____ Copy of fully executed child support court order if applicable
____ Copy of signed earnest money contract
____ Copy of lease agreements on rental properties. must have 2 year history reflected on Taxes to use Rental/Border income
____ Veterans! Copy of DD 214 and Eligibility Cert. if you have it, if not need Company Clerk contact info
____ Check for the cost of your credit report and appraisal

CONTACT ME:

Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Phone: 763-634-1766-These calls will be answered by a loan officer and a buyer's agent

Please answer these questions on your first Voicemail/Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

Minnesota places for rent: homes, town houses, condos, apartments

2010-04-30T09:26:00.001-07:00

(My Original Blog Post: http://ping.fm/Uv7Q7)

Minnesota for Rent

When renting a home in Minnesota, there are a few things to consider:
1. What city do you want to move to in mn
2. Are you choosing the city based on your job, or the school your kids are in
3. Do you have someone to help you move into your place
4. Many landlords have you move-in on the 1st or the 15th of the month
5. It's standard to pay 1st month's rent up front
6. It's standard to pay a security deposit
7. It's not uncommon to pay 2 months security deposit
8. Many apartments offer discounts on deposits
9. Many landlords are first time landlords just learning the business
10. Rent to own is an upgrade to renting and requires option money
11. Available properties include houses, townhouses, condos, duplex, apartments, etc.
12. Many renters are approved through the state or through section 8
13. Emergency Assistance is a great place to find money for a deposit
14. Renters will likely sign a lease before moving in to the home
15. Often a landlord will file an eviction within 7 days or later after past due rent
16. Places are for rent all over the twin cities, cities and suburbs
17. Your walls and carpet should look clean before moving in
18. It's important to see if the landlord is in foreclosure before moving in
19. It's a good idea to get a receipt after each payment
20. It's a good idea to get a CRP-Certificate of Rent's Paid in for annual tax rebates
21. You should contact your landlord when things need fixing, it's in his/her best interest
22. Sometimes the landlord does the property management themselves, other times he/she hires one.
23. Many landlords would love you to stay for years, until the sell the house someday
24. Many landlords may need you to allow for showings if they are selling the house
25. In today's market I see people rent out a property until it sells, keeping it on the market
26. Some landlords come to the door to collect rent, most prefer to be mailed rent
27. If you are going to be a few days late on rent, call your landlord just to let him/her know
28. Most landlords will include associate dues into the rent in those cases of condos and townhomes
29. Most rental houses should be in good condition and clean
30. buying a home these days can often be cheaper monthly and upfront over renting
31. renters can find places through craigslist or the newspaper

Homes, Townhouses, Condos, Apartments,
Twin Homes, Quad Homes, Row Houses:

Homes:

A.Homes generally are built from 1880 to brand new
I find that St. Paul and Minneapolis have the oldest often older than 1950's.
most suburb homes will be 1970's, or newer, with the suburbs gas, transpertation,
and shopping is often a factor.

B.Many of the older homes in Minneapolis and St. Paul are duplexes, triplexes, and apartments

C:I think most renters will prefer newer homes in the suburbs, if transpertation is
a problem, or you work downtown, living in the cities may make more sense.

D: Home Types
Split Level-These are common with twin homes, usually you walk in and go down or up
4 level-Usually a good size house
2 story-Often a 1800+ square foot house
ranch-these often have a basement and 1 level, ideal for those who don't like stairs

Townhouses:

A: Often townhouses are part of an association and are connected with others.
Sometimes you see:
Row Houses
Townhouse development or subdivision, where outside or inside unit may be desirable
Quad homes often 2 in the front, and 2 facing the back, sharing walls

Twinhomes:

Usually where two seperate residents share a wall and garage wall.

Condos:

A.Typically condos are part of associations and their are usually inexpensive
condos and very high-end luxury condos. Association fees can be $200-$400/month easily.
What they include will differ, some trash, water, and some utilities, plus lawn.

Apartments:

As a general rule you'll find more apartment buildings in Minneapolis and St. Paul
also you are going to find them in what's called "buffer zones" which means
closer to commercial and retail places vs. in the middle of a residential neigborhood.
0-3 bedroom is your common size for an apartment. 0 bedrooms is called a studio.
standard size is typically 500 to 1200 sq ft depending on the bedrooms. When you start
getting around 1500 sq ft+ it's usually a luxury condo, or a very big old duplex or triplex.

Questions a landlord may ask:
Check your credit history
Do a background check
May want to know if you have criminal record
See if you have a job
Find out how much gross monthly income you make now
See how long you've been on your job
See how many adults will be living in the house
See who will be on the lease
See if you are a smoker
May or may not accept pets

Utilities:
Many landlords will have the renter pay utilities and bills including:
Electric
Gas
Trash
Water
Cable, etc

In some cases in Minneapolis or other cities, the landlord may have to pay
trash or some with the house as the owner, check with your local city.

Also it's common for programs like Section 8 to offer both a rent based on:
utilities included

utilities not included
As a landlord that doesn't include these items in rent
The landlord will be keeping a close eye on:
water consumption
how often windows are left open
the temperature the house needs to be at

As long as the landlord and renter treat each other fairly everyone should be happy
and it should be a long lasting friendship.

The #1 complaint a renter will have is that the landlord fixes items and in a timely matter
The #1 complaint a landlord will have is getting rent on time, and without a hassle

Good luck with your next place,

http://ping.fm/6EOu1
Real Estate Broker
MinnesotaInvestors.com, Inc.

Job and source of income for home loans

2010-04-27T11:09:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/job-and-source-of-income-for-home-loans/)
C: Job-Income Source
In order to qualify for a loan, the bank will require that you have a source of income
(Most landlords to rent, rent to own, or sell on a contract for deed will require income)
1. Part-Time job-2 year consistent history (can be different jobs, but 2 years consistent (hourly, salary, commission))
2. Spouse's income-(If they are going to be on the new loan)
3. Significant other's income-(If they are going to be on the new loan)
4. Social Security (need award letter or proof of deposit into bank (statement))
5. State/Government monthly money-(Need award letter or proof of deposit into bank (statement))
6. Structured settlement-(Need court order and proof of payments being made (cancelled checks, transfers))
7. Allowance/Gifts from parents/relatives-(Gift Funds are acceptable to FHA, but need income stream as well)
8. Part-Time self-employed hobby income-(Need minimum of 2 years Tax Returns to verify)
9. EBay Business - (Will need 2 years Tax Returns to verify)
10. Flea Market, Farmers Market - (Will need 2 years Tax Returns to verify)
11. Paper Route- (Will need 2 years Tax Returns to verify)
12. Non Occupant Co-Borrower's income for FHA
13. 1099 income- (Will need 2 years of income to verify)

HELP WANTED-JOBS HERE
Craigslist.org Monster.com CareerBuilder.com jobs.startribune.com twincities.com/jobs jobsinminneapolis.com snagajob.com hotjobs.yahoo.com	job.com jobs.net employment.com employmentguide.com collegegrad.com usajobs.gov indeed.com jobcentral.com	theladders.com simplyhired.com labor-all.com jobsradar.com jobsonline.net jobswire.com localjobsreport.com findmyjobs.org

HTML clipboard

CONTACT ME:

Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Phone: 763-634-1766-These calls will be answered by a loan officer and a buyer's agent

Please answer these questions on your first Voicemail/Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

Money for Down Payment and Loans

2010-04-25T11:12:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/money-for-down-payment-and-loans/)
B: Money Available
(Available for home loans only for a limited time until the money runs out)
-Ramsey County Down Payment
-Down Payment Assistance Crystal
-Brooklyn Center Grant Programs
-Anoka County Down Payment
-55106 Zip Code
-Greater MN Housing Fund
-Central MN Housing Fund
-East Edina
-Minneapolis Advantage
-55411 Zip Code Neighborhood Program
-MN Grant Assistance Programs
-Home Help Guidelines
-Grant Programs (Over 30+)
-MN Housing; MMP, CASA, HOMEHELP
-HUD $100 Down

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Online-micro-loans.com

Ontimepaydayloan.com

Pacificadvance.com

Pay1Day.com

PaydayAdvance-Loan.Com

PaydayCashLoanMinneapolisMN.com

Paydayloan2me.com

Paydayloanaffiliate.com

Paydayloandraw.com

PayDayLoansLeader.com

PeachtreeFinancial.com

Personalcashadvance.com

Personalcreditservices.com

Preferredpaydayloans.com

Quickcashadvanceonline.com

Quickpaydaycashadvance.net

Successlendinggroup.org

TitleandPayDayLoans.com

Titlecash.com

TitleMax.biz

Turbotitleloan.com

Unsecuredloanservices.com

Visionloanreferrals.com

HTML clipboardCONTACT ME:

Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Phone: 763-634-1766-These calls will be answered by a loan officer and a buyer's agent

Please answer these questions on your first Voicemail/Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

Credit Score and Tips how to Improve it

2010-04-23T11:03:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/credit-score-and-tips-how-to-improve-it/)
PRESENT
A: Credit Score

Credit Score:
35 percent - An individual's history of making credit payments on time
30 percent - The total amount of debt being carried along with available credit
15 percent - The age of an individual's open credit lines (more history is better)
10 percent - The frequency with which someone applies for new credit
10 percent - Types of credit lines

3 Steps to rebuild your credit score today:
A.Earn extra cash
B.Deposit cash on new secured credit cards, make payments on time
C.Deposit cash at local banks into a CD, take out a loan on the CD, make payments on time

3 Steps towards credit score repair management
A.Manage the bills and pay them off
B.Negotiate collections/judgments with creditors
C.Test for Chapter 7 and file for Bankruptcy

3 Negative credit effects when left unpaid
A.Levy-the creditors will take money from your bank accounts without notice(Bank accounts with your SS# attached)
B.Lien-Liens will be put on your home or property. MN has a $300,000 homestead exemption currently in 2010.
C.Garnish your wages-25% of your wages garnished from your check is likely with a successful judgment.

Improve your Credit Score:
Do-It Yourself items:
Don't EVER be late-One 30 day late on a bill could cause your score to drop 100-140 points
Get Secured Credit Cards your payments will create a positive payment history
Evenly distribute the balances over all credit cards (Goal: Balances under 20% preferred on all, then 30%, then 50%, then 70%)
Never Max Out Credit Cards (Goal: Balances under 20% preferred on all, then 30%, then 50%, then 70%)
Establish Various Types of Credit, mortgage, car loan, credit card account
Don't close unused credit account (You could be closing down long-term credit history)
More available credit-higher limits on your credit cards lower utilized/available ratio
Limit Credit Inquiries
Don't Open Too Many Accounts within a Short Period
Get a Savings or Checking Account (don't overdraft)
Avoid Consolidating Debts or Balance Transfers (May continue as rolling late payments for years)
Watch high balance credit reporting cards-some credit card companies report your current balance as the high balance looking maxed out

Improve your Credit Score:
Hire a Credit Expert items:
Negotiate Charge-offs and liens, less effected after 24months. Recent negotiating can lower your score, so do after a loan
Negotiate old collections and judgments-Recent negotiating can lower your score, so do after a loan
Open business credit cards, they don't show up on personal credit unless you are late
Bankruptcy will initially hurt your credit
Ask Creditor to Delete a 30-Day Late Item
Have your name added as an authorized user to someone else with great credit, less effective then before
Dissolve Joint Accounts after a Divorce

CREDIT SCORE AFFECTS DAILY LIFE:
-You may now be able to qualify for a home loan and buy that home you've always wanted
-If you plan on getting a home loan, a higher credit score offers you more choices maybe a lower rate
-You can qualify to get credit cards
-Many of the credit cards you qualify for will likely offer lower interest rates
-You may save money on your Auto Insurance, as it's often tied into credit rating
-Better interest rates, cheaper payments help you to have better and more affordable options
-You may be able to get a auto loan, instead of a life of expensive car repairs
-You may be able to open up bank accounts you couldn't before
-You may be able to open up investment accounts that you couldn't before
-Many employers check credit, this may help you get a job or a better one
-You may not be forced to have high interest rate department store credit cards
-You may be able to get a credit line increase
-You may be able to get a home equity line of credit
-It may help you to get a cell phone service instead of month to month, or pre-pay minutes
-It may help you to get cable TV or direct TV, without a huge deposit
-You may be able to get a new electric company service without a huge deposit
-You may be able to get a college loan, get a career and make more money
-Us negotiating your credit card payoffs may save you thousands of dollars
-We can use advanced techniques to save you from wage garnishment
-We can help the banks from calling, we can help from non stop collections
-We can help negotiate lower high interest rates
-We can help eliminate some late fees
-We can help with penalties
-We can help avoid or minimize the impact of liens
-We can help avoid bank levies
-We can help avoid or minimize the impact of judgments
-We can help delay your foreclosure, so that you can get back on your feet

HTML clipboardCONTACT ME:

Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Phone: 763-634-1766-These calls will be answered by a loan officer and a buyer's agent

Please answer these questions on your first Voicemail/Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

Money Seasoning and Job Timelines Home Loans

2010-04-21T11:02:00.001-07:00

(My Original Blog Post: http://ping.fm/Cc9aN)
This will important as to how long you need to have a job and your money before you can be pre-approved for a long. Please check our other posts for related topics.

B: Money Seasoned
HOME LOAN PROGRAMS:
-FHA-Sourced funds only, can have gifts funds or grant funds if qualifies
-FHA 203K (For rehabbers)
-VA-no seasoning requirements
-Conventional
-HomePath (Owner Occupied and Investment - can have up to 10 invest properties!!) No current seasoning, sourced
-Manufactured and Modular Homes 60+ day seasoned funds
-Rural Development sourced funds
*Alternate Credit Sources* no seasoning requirements currently
*580+ Mid Credit Score* 60+ day seasoned funds, must have 3 open trade lines with a 12 month history

C: Job-Income Timeline
For home loans-2 year consistent history (can be different jobs, but 2 years consistent (hourly, salary, commission))

HTML clipboardCONTACT ME:

Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Phone: 763-634-1766-These calls will be answered by a loan officer and a buyer's agent

Please answer these questions on your first Voicemail/Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

Past Credit History and Loan Requirements

2010-04-19T11:01:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/past-credit-history-loan-requirement/)
PAST

A: Credit History
CREDIT REPORT:
Items recommended to remove off of your credit:
Collections
Foreclosures
Inquiries
Charge-Offs
Late Payments
Public Records
Tax Liens
Bankruptcies
Judgments
Repossessions

CREDIT HISTORY:
REQUIREMENTS FOR A HOME LOAN:
-Chapter 13 BANKRUPTCY:
There must be 12 consecutive months of on time payments on all accounts
(including utilities, cell phones,etc) from the filing of the chapter 13
bankruptcy.

-Chapter 7 BANKRUPTCY:
There must be 24 months of perfect credit from the
disposition of a Chapter 7 bankruptcy.

-FORECLOSURE: (FOREX PROGRAM)
Extenuating Circumstances for financing 1 year out of foreclosure
The FHA Underwriters have the ability to manually
underwrite the file and get an "exception" if there are extenuating circumstances (ie Medical, Death,
multiple job loss). Buyers would need to write out a very detailed explanation of exactly what
happened, and will need to submit supporting docs (legal, medical, etc). Each File will be
reviewed by UnderWriting to determine if the circumstances warrant "Extenuating". If so, they will grant Pre-Approval.
*3 Years since last foreclosure if you don't qualify for above
*2 Years since short sale with Fannie Mae

CREDIT NEGATIVE PUBLIC ITEMS:

Tax Liens- Must be on a repayment plan with a written verification letter from State, or the
Federal Government
Back Child Support -Must be current, or being repaid through wage-garnishment
Judgments -Must be paid in full, prior to final approval, sourced or gift on funds
Collections-Will review each one individually, a determination is based on individual circumstances
Bad Checks-Must be paid in full prior to Pre-Approval for those on the credit report

CONTACT ME:

Email subscribers- Go to any of these
sites, to get info by email: RonOrr.com,

RenterLeads.com ,
RentToOwnBuyers.com ,
Contract4Deed.com ,
HomeLoansMN.com ,

MinnesotaInvestors.com, SellMnHouse.com,
OverFinanced.com,
BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Phone:
763-634-1766-These calls will be answered by a loan officer and a buyer's
agent

Please answer
these questions on your first Voicemail/Email

1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

Credit, Available Money, Job-Income Source

2010-04-17T11:01:00.001-07:00

(My Original Blog Post: http://ping.fm/FbgN9)
In this posting I will outline the 3 main things that you will need to focus on When you are looking for a house, staying in a house or leaving a house. It will be credit, income, and money. There are follow up blogs to this outline. For descriptions on each I highly recommend getting them through the email list at http://www.ronorr.com , but you can follow other posts on the blog.

3
things to focus on:

CREDIT
AVAILABLE MONEY
JOB-INCOME SOURCE

3
timeframes to focus on:
PAST
A: Credit History
B: Money Seasoned
C: Job-Income Timeline

PRESENT
A: Credit Score
B: Money Available
C: Job-Income Source

FUTURE
A: Looking for housing
B: Staying in your house
C: Leaving your house

CONTACT ME:Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com ,RentToOwnBuyers.com ,Contract4Deed.com ,HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com,OverFinanced.com,BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Phone: 763-634-1766-These calls will be answered by a loan officer and a buyer's agent

Please answer these questions on your first Voicemail/Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date

250+ Cash,PayDay,Loans,Unsecured,Credit Cards

2010-04-15T13:47:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/250-cashpaydayloansunsecuredcredit-cards/)
If you have been wondering where to go to go online to get quick cash advance, a payday loan, unsecured loans, credit cards, or easy money, I've put together a directory of the best places to get money. Please give me feedback on which lenders do the best job, there are fax and non fax lenders below. You will find direct, you'll find deposit, checks, and best of all many are instant. We also understand that unsecured business credit loans are popular so we added those as well. On the list are companies that will work with bad, fair, average and good credit people. Whether you are using it for a small business, or need it for consolidating your loans, these offers are ready for you.

As far as credit card services and applications, we find that most all cards will fit into the following category: low interest, balance transfer, rewards, cash back credit cards, airline mile, instant approval, pre-paid or debit cards, credit cards specializing in bad credit, secured credit cards, student credit cards, business credit cards, 0% APR, gas cards, and department cards.

This list was created because we have a lot of people that follow my Minnesota Real Estate email list and they are always looking for more money to buy a rent to own, or contract for deed, and sometimes home financing. If you are interested in a home, please make sure you are on my Minnesota real estate list located at http://www.ronorr.com

1-Hour-Cash.com

Actionpaydayloans.com

AdvanceAmerica.net

Afsloansonline.com

Allbanks.org/paydayloans.php

AmericanExpress.com

Americaoneunsecured.com

Badcreditloanservices.com

Badcreditunsecuredpersonalloans.com

Bankrate.com/credit-cards.aspx

Beneficial.com

Bigcashadvance.com

BigLender.com

BusinessAdvanceNow.com

CapitalOne
Personal Loans

Cardratings.com/database

Cashadvance.com

Cash-advances-in-1-hour.com

Cashadvancealliance.com/

Cashadvanceplanet.com/

Cashamerica.com

CashCall.com

CashCorner.com

CashFlowExperts.biz-Business
Credit

Choicepersonalloans.com

CitiFinancial.com

Credit.com
for bad credit

Credit.com
student cards

Credit.com
gas cards

Credit.com
pre-paid and debit

Credit.com
cards for no credit

Credit.com
low APR cards

Credit.com
secured cards

Credit.com
rewards

Credit.com
balance ransfer

Creditcardguide.com

CreditCards.com-Low
Interest Rates

CreditCards.com
Balance Transfer

CreditCards.com
Rewards

CreditCards.com
cash back creditcard

CreditCards.com
Airline Miles

CreditCards.com
Instant Approval

CreditCards.com
pre-paid-debit

CreditCards.com
for bad credit

CreditCards.com
student credit

CreditCards.com
business credit

CreditCards.com
0% APR

Creditcard321.com
Top 50

Commercebank.com/personal/loans/personal-loans.asp

Commissionexpress.com

Creditfederal.com

Creditloan.com

Debtreliefusa.org

Directlendingsolutions.com

DiscountAdvances.com

DiscoverCard.com

Easyfastcashloans.com/

Easyonlinepaydayloan.com

FastApprovalPayday.com

Firstamericacredit.com

Firstliberty-alliance.net

Freedomfinancialnetwork.com

Gimmiesomecash.com

GoSupremePaydayLoans.com

GreatLoansForBadCredit.com

HelloLocal.com

HFC.com

Horizoncashadvance.com

Idealpaydayloans.com

Inmyloans.com

LendingClub.com

Libertypaydaylending.com

Libertyunsecured.com

Lightspeedpayday.com

Loan-in-1-hour.com

MagnumCashAdvance.com

Nationalunsecured.com

Nationwideunsecured.com

Online-micro-loans.com

Ontimepaydayloan.com

Pacificadvance.com

Pay1Day.com

PaydayAdvance-Loan.Com

PaydayCashLoanMinneapolisMN.com

Paydayloan2me.com

Paydayloanaffiliate.com

Paydayloandraw.com

PayDayLoansLeader.com

PeachtreeFinancial.com

Personalcashadvance.com

Personalcreditservices.com

Preferredpaydayloans.com

Quickcashadvanceonline.com

Quickpaydaycashadvance.net

Successlendinggroup.org

TitleandPayDayLoans.com

Titlecash.com

TitleMax.biz

Turbotitleloan.com

Unsecuredloanservices.com

Visionloanreferrals.com

4 Steps to Owning a home in 2010

2010-04-11T19:02:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/4-steps-to-owning-a-home-in-2010/)
Due to the economy, everyone wants to spend less money monthly on bills right now:

Due to Down Payment Assistance, 4.75% interest rates(if you qualify), and a much cheaper housing market...
A home loan saves you more money monthly then:

Renting, Rent to Own, and Contract for Deed as far as, for money upfront, and for monthly payments.

Step #1: Get you up to a 580+ minimum Credit Score right away

Step #2: Allow 1-2 years since your bankruptcy

Step #3: Allow 2-3 years since your foreclosure

Step #4: Get you some down payment money

Let's work together on getting you to these goals, so that you can buy a house.

If the timing has it where you recently have no money, a bankruptcy and/or a foreclosure, then:
A Rental, Rent to Own, or Contract for Deed may be your only choice.
I actually cover each of the above in far more detail through email, to read that:

Please go to:
http://www.ronorr.com

Real Estate Broker
MinnesotaInvestors.com, Inc.

Short Refinance Vs. Loan Modification

2010-04-11T18:23:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/short-refinance-vs-loan-modification/)
Most of you have heard the news from Obama as it relates to companies, and services that can help you with your home solution in this current economy. Chances are you took out a mortgage, or home loan a few years ago with your bank and now you are afraid that you may have bad credit, or owe too much on your house, now that housing prices have gone down.
Federal laws have come out with some great loan modification programs, and now you are hearing about, and you are wondering how to make sense of all of this and what are the qualifications.

Most loan modification programs will not allow for a principle reduction. If you are
looking for an upside down mortgage solution, then a short-refi may be better for you.
My research shows that GMAC, Wells Fargo and Countrywide are widely searched as it relates to lenders. If you want to sell instead of stay in your house, a short sale may be a better solution.

The short refinance process usually takes 120 days or less to complete. This is not like
your standard refinance process on your mortgage. The lenders have to take what's called a short payoff, or short pay refinance, it's a unique program, just now becoming popular. With the short pay of the mortgage you'll want to check with your tax accountant, it's likely that the lender and IRS will deem this as a discharged debt, and you may owe taxes on it.
The company I am affiliated with will handle the negotiation. Typically a new bpo is ordered, this is a broker's price opinion. This is done to ensure what the current market value is of the property. The buyer gets qualifying for the new loan amount with the current lender or a new lender through FHA. Through the FHA, homeowners are able to qualify for low fixed interest rates and high LTV (loan-to-value ratios on their mortgages)

The homeowner must be able to afford the new loan and qualify showing:
tax returns, w-2’s, 1099’s, check stubs and bank statements, a full documentation loan. The current program is for those not yet in foreclosure. If foreclosure has been filed already, contact us and we'll look at the loan modification or short sale solution for you. The costs to the seller are only around $224 upfront. You keep ownership of the property the whole time and stay in your house. You don't have to be behind in payments like most loan modifications. Prior credit histories such as bankruptcy and foreclosure don't matter. Debt to income can be as high as 45% when qualifying.

Documents you'll soon need for qualifying:
(Info needed for anyone to be put on the loan)
-2006 & 2007 W-2’s
-2006 & 2007 tax returns
-Check stubs for the past 30 days
-Bank statements covering the past 60 days-all pages from the statement
-Most recent statement(s) for investment accounts: IRA's, CDs, Money Market accounts, Pensions
-Your mortgage statement(s)
-A copy of your homeowners insurance policy
-Copies of your ID and Social Security Card

Please go to http://www.ronorr.com to learn more and to contact me
ron@minnesotainvestors.com

Posts worth retweeting, sharing on Facebook

2010-04-09T17:02:00.001-07:00

(My Original Blog Post: http://ping.fm/dh1zH)
2+ years of my real estate blog, it's time to share the top 3 most popular posts for you to retweet and share on facebook. I hope that you find these posts informative and to help you, your family and friends with their housing needs. Please feel free to share, and let me know how myself or an affiliate can help in any way. Simple click the links below and either share on Facebook or on Twitter.

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Minnesota Short Sales     Share on Facebook

Minnesota Contract for Deeds    Share on Facebook

Minnesota Rent to Own    Share on Facebook

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Minnesota Short Sale Retweet on Twitter

Minnesota Contract for Deed   Retweet on Twitter

Minnesota Rent to Own   Retweet on Twitter

Thanks you all for your help, and I look forward to a positive future!

Website by RonOrr.com

2010-04-08T19:35:00.001-07:00

(My Original Blog Post: http://ping.fm/4Iz3N)
I own a handful of domain names, but these are the main websites that I promote these days, covering the major categories. The sites ranging from renting, rent to own, contract for deed, home loans, investors, short sales, selling, and my own site www.ronorr.com, most will direct you towards my main site as we hope to get you a lot of the info related to real estate by my email follow ups.

Renting, rent to own and contract for deed work best when you can't get a home loan, and they often require some money down, with the idea that you may rent to own or c/d for 2-3 years while you are working on your credit. With a rent to own you often will try to purchase 2-3 years later. With a contract for deed you may put more down, and simply refinance after 12-24 months of on-time payments. We are also happy to help homeowners who are behind on payments or are about to be behind on payments. Loan mods, short-refi's, short sales, foreclosure extensions, there are many options.

BankOwnedForeclosure.com
Contract4Deed.com
HomeLoansMN.com
MinnesotaInvestors.com
OverFinanced.com
RenterLeads.com
RentToOwnBuyers.com
RonOrr.com
SellMnHouse.com

Less Money than Renting, rent to own, contract for deed

2010-04-08T09:04:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/less-money-than-renting-rent-to-own-contract-for-deed/)
In 2010...

Most people's budgets are tight.
Many people fear losing a job.
Many people are unemployed.

Many people are helping friends/family who are unemployed, or underemployed.

#1 priority is to keep your money whenever possible, right?

The main 3 options currently ask for your money:
Renting a property requires 1st months rent + deposit or double deposit
Rent to Own, requires option money of $3000-$7000 + 1st months rent
Contract for Deed requires 5-10% down payment often, sometimes $6000-$7000 is
enough.

These all require money out-of-pocket today. People prefer not to part
with money
If you want help with any of the above, please contact me.
There is one solution to saving your money, and that's getting a home loan.
With low home prices, and low interest rates, often buying comes with a
cheaper house payment that renting these days. There are numerous down
payment

and grant programs out there to handle your down payment when you get a home
loan.

Home loans start at 580+ credit score. Most will have below a 580 score, so
please go to http://www.ronorr.com to figure
out how to raise your score and contact us

on how to get working with a credit repair specialist right away, so we can get
you a home loan and save you money.
http://www.ronorr.com

broker-MinnesotaInvestors.com, Inc.

RonOrr.com Current Market Trends

2010-04-06T17:19:00.001-07:00

(My Original Blog Post: http://ping.fm/bBtN1)
2010 presents everyone with some unique housing
situations, which housing option(s) below describes you:

A: Looking for housing
B: Staying in your house
C: Leave your house

A: Looking for Housing

1. Looking to Rent-Monthly
rent? bedrooms? move-in date? cities? housing type? pets?

2. Looking for a Rent to Own--Monthly
rent? bedrooms? move-in date? cities? Money Available?

3. Looking for a Contract for Deed--Money
available? monthly payment? bedrooms? ities?

4. Looking for a Home Loan-580+
credit score? money available? any Foreclosures? any bankruptcies?

5. Credit Repair Help-Start
as a 1st step, collections? lates? judgments? liens? errors? ,etc.

*Sellers pay for
buyer's agent commissions in almost all scenarios

*Frequent communication with a buyer's agent is very important

B: Want to stay in your house

1. Do a Short-Refi-Before
foreclosure? A short-refi with a new lender, close within 120 days at new market
value, minimal fees

2. Do a Loan Modification-Modify
the terms of your current loan with your lender, no mortgage reduction

3. Do a Foreclosure Extension-Buy
more time, delay your foreclosure by 6-12+ months, affordable monthly payment

*These options
are ideal for those that are over-financed, and/or behind on payments

C: Leave your house

1.Rent out your property-Only
if you aren't in foreclosure, and you aren't selling, fee is 1 months rent

2.Lease Option your property-If
you want to get some option money and a possible future owner

3.Sell on a Contract for Deed-If
you want to get an owner type and a down payment

4.Sell your House Deed-If
you can't sell with equity, sell your deed as an option, get paid cash for your
deed

5.Sell your house-We
can have your house listed on the market, the MLS, and help to sell it, listing
fees competitive

6.Sell on a Short Sale-for
those with little equity, short sale itself doesn't require upfront money, city
inspection, assoc dues apply

7.Property Management-For
those that don't want to manage their property monthly

*Due to the amount of
clients that contact us, we can only help those that are willing to sign an
exclusive contract

You may use many services at
one time.

For example, while in foreclosure

A: You may seek a foreclosure extension

B. You may seek a short sale

C. You may seek credit repair

D. You may want to purchase your next house on a contract for Deed

ron@minnesotainvestors.com

http://www.ronorr.com

763-634-1766

Who I am:

My name is Ron Orr, (RonOrr.com) I have helped people in all areas of
real estate since 2002.

I am a Real Estate Broker with MinnesotaInvestors.com, Inc. I've created a friendship/business relationship

with many people over the years, all specializing in different areas of real estate. I do the marketing to help

find a good win-win fit for each affiliate and each referral I get. We generally work in the 8
county area.
Items you'll want removed off of your credit:

Collections

Foreclosures

Inquiries

Charge-Offs

Late Payments

Public Records

Tax Liens

Bankruptcies

Judgments

Repossessions

How your good credit score will help you out in daily life:

-You may now be able to qualify for a home loan and buy that home you've always
wanted

-Even if you plan on getting a home loan, a higher credit score offers you more
choices and possibly a lower rate

-You can qualify to get credit cards

-Many of the credit cards you qualify for will likely offer lower interest rates

-You may save money on your Auto Insurance, as it's often tied into credit
rating

-Better interest rates, and cheaper payments helps you to have better and more
affordable options

-You may be able to get a auto loan and make small payments instead of a life of
expensive car repairs

-You may be able to open up bank accounts you couldn't before

-You may be able to open up investment accounts that you couldn't before

-Many employers check credit, this may help you get a job or a better one

-You may not be forced to have high interest rate department store credit cards

-You may be able to get a credit line increase

-You may be able to get a home equity line of credit

-It may help you to get a cell phone service instead of month to month, or
pre-pay minutes

-It may help you to get cable TV or direct TV, without a huge deposit

-You may be able to get a new electric company service without a huge deposit

-You may be able to get a college loan so that you can get a career that you
like, eventually making more money

-Us negotiating your credit card payoffs may save you thousands of dollars

-We can use advanced techniques to save you from wage garnishment

-We can help the banks from calling, we can help from non stop collections

-We can help negotiate lower high interest rates

-We can help eliminate some late fees

-We can help with penalties

-We can help avoid or minimize the impact of liens

-We can help avoid bank levies

-We can help avoid or minimize the impact of judgments

-We can help delay your foreclosure, so that you can get back on your feet

Available Programs:

Down Payment Assistance Now Available

(Available for a limited time until the money runs out)

-Ramsey County Down Payment

-Down Payment Assistance Crystal

-Brooklyn Center Grant Programs

-Anoka County Down Payment

-55411 Zip Code Neighborhood Program

-MN Grant Assistance Programs

-Home Help Guidelines

-Grant Programs (Over 30+)

Other Loan Programs:

FHA

FHA 203K (For rehabbers)

VA

Conventional

HomePath (Owner Occupied and Investment)

Manufactured and Modular Homes

MN Housing; MMP, CASA, HOMEHELP

Rural Development

Recent Bankruptcy or Foreclosure:

Chapter 13 BANKRUPTCY:

There must be 12 consecutive months of on time payments on all accounts

(including utilities, cell phones,etc) from the filing of the chapter 13 bankruptcy.

Chapter 7 BANKRUPTCY:

There must be 24 months of perfect credit from the disposition of a Chapter 7 bankruptcy.

FORECLOSURE:

EXTENUATING CIRCUMSTANCES

FINANCING 1 YEAR OUT OF FORECLOSURE

The FHA Underwriters have the ability to manually underwrite the file and get an

"exception" if there are extenuating circumstances (ie Medical, Death, multiple job loss).

Buyers would need to write out a very detailed explanation of exactly what happened,

and will need to submit supporting docs (legal, medical, etc). Each File will be reviewed

by UnderWriting to determine if the circumstances warrant "Extenuating".

If so, they will grant Pre-Approval.

ron@minnesotainvestors.com
http://www.ronorr.com
763-634-1766

RonOrr.com Real Estate Marketing

2010-04-04T18:08:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/ronorrcom-real-estate-marketing/)
HTML clipboardMy name is Ron Orr, (RonOrr.com) I have helped people in all areas of real estate since 2002.
Real Estate Broker with MinnesotaInvestors.com, Inc. Here is a list of what I markte for below:
I've created a friendship/business relationship with many people over the years, all specializing in different areas of real estate.
I do the marketing to help find a good win-win fit for each affiliate and each referral I get.
You can contact me in the following ways.
ron@minnesotainvestors.com
http://www.ronorr.com
763-634-1766

Here are the housing situations I can help you with:

For those moving into a place:
1. Renters that want a $1000/month+ rental, if you will work exclusively with our agent, please contact me
2. Anyone that wants to rent to own a property, rent with the option to buy 12-36 months later, please contact me
3. Anyone that wants to buy on a contract for deed, should have a decent down payment, please contact me
4. Anyone that wants a home loan starting at a 580+ credit score, please contact me
5. Anyone with 300-750 credit score should contact me to improve your credit score
6. Anyone that wants a home loan, but needs help with down payment assistance or grants, please contact me
*If you want to buy on a c/d, but first want an investor to buy with financing, you may need 10-15% down minimum on a c/d
*If you are already working under contract with a buyer's real estate agent, it may be a conflict of interest.

I find that the overall goal is for people to want a home loan, but often they find that they have under a 580+ credit score,
so they are forced to go with a contact for deed, rent to own, or rental, which is fine. You can call me no matter which situation
you are in. Let me highly suggest to you to email, call me, or sign up to http://www.ronorr.com , earlier on, so that I can have 30-90 days to get you a credit score boost. Soon you'll have a good credit score in order to get that home loan.
If you can't get up to that 580+ credit score, you will then need a contract for deed, rent to own, or rental, which require even more money down, so a home loan is best right now for the low interest rate and the low down payment vs. the other concepts.

Why is your credit score so important? Let's go over that right now:
You can review your credit report free at: http://www.freecreditreport.com
First let's go over just some of the many items that will be removed from your credit report:
Collections
Foreclosures
Inquiries
Charge-Offs
Late Payments
Public Records
Tax Liens
Bankruptcies
Judgments
Repossessions

Second, let's go over real-life scenarios where a better credit score will help benefit you in life.
Call, text, email, or sign up to http://www.ronorr.com today, the costs upfront are pretty small compared to how much it will save you. A higher credit score can help you out with numerous things in life, here are just a few major ones that will effect you daily:

-You may now be able to qualify for a home loan and buy that home you've always wanted
-Even if you plan on getting a home loan, a higher credit score offers you more choices and possibly a lower rate
-You can qualify to get credit cards
-Many of the credit cards you qualify for will likely offer lower interest rates
-You may save money on your Auto Insurance, as it's often tied into credit rating
-Better interest rates, and cheaper payments helps you to have better and more affordable options
-You may be able to get a auto loan and make small payments instead of a life of expensive car repairs
-You may be able to open up bank accounts you couldn't before
-You may be able to open up investment accounts that you couldn't before
-Many employers check credit, this may help you get a job or a better one
-You may not be forced to have high interest rate department store credit cards
-You may be able to get a credit line increase
-You may be able to get a home equity line of credit
-It may help you to get a cell phone service instead of month to month, or pre-pay minutes
-It may help you to get cable TV or direct TV, without a huge deposit
-You may be able to get a new electric company service without a huge deposit
-You may be able to get a college loan so that you can get a career that you like, eventually making more money
-Us negotiating your credit card payoffs may save you thousands of dollars
-We can use advanced techniques to save you from wage garnishment
-We can help the banks from calling, we can help from non stop collections
-We can help negotiate lower high interest rates
-We can help eliminate some late fees
-We can help with penalties
-We can help avoid or minimize the impact of liens
-We can help avoid bank levies
-We can help avoid or minimize the impact of judgments
-We can help delay your foreclosure, so that you can get back on your feet

Now let's go over Homeowners:

Let's put homeowners into two categories:
A: Those that want to sell their house B: Those that want to keep their house longer

For the sellers:
Lease out your property to a renter
Lease option out your property to a rent to own person
Sell on a contract for deed with owner financing to a c/d buyer
Sell to someone with a home loan and cash out, you need to list your house and you have equity
Sell to someone with a home loan and cash out, but you owe too much, sell on a short sale
Sell your deed to our affiliate ASAP, even if you are near the end of foreclosure, he'll pay you for your deed, taking over your payments right away
*If you are already working under contract with a real estate agent, it may be a conflict of interest.

For those that want to keep their house longer:
For those that aren't behind or are behind on payments that are before the sheriff sale, ask about a loan modification
For those that are not yet in foreclosure, we have a company that will buy your house from your lender within 120 days, keeping you in your house
For those behind in payments, that need more time in the foreclosure process, we have paperwork to file extending the foreclosure timeline 6-12+ mos.
For those that owe too much on their house, short sale is a great way to sell and stay in the house for awhile longer
*If you are already working under contract with a real estate agent, it may be a conflict of interest.

Don't give the house back to the bank, don't do a deed-in-lieu of foreclosure, don't give up on an adjusting rate, don't give up! There are many other options. Please note, all scenarios above will work no matter what situation a home owner is in, behind in payments, selling, not selling, etc.

In all of the above options, we'll look to have you work with one of our expert professionals, agents, or negotiators to complete the above task. We receive hundreds and hundreds and hundreds of leads of the above and we look forward helping everyone with their unique situation. It really helps if you just discuss your situation, and what services you need help with, so the right affiliate can help you out.

Please go to http://www.ronorr.com
ron@minnesotainvestors.com
763-634-1766

For home loans please read details:
Chapter 13 BANKRUPTCY:
There must be 12 consecutive months of on time payments on all accounts
(including utilities, cell phones,etc) from the filing of the chapter 13 bankruptcy.

Chapter 7 BANKRUPTCY:
There must be 24 months of perfect credit from the disposition of a Chapter 7 bankruptcy.

FORECLOSURE:
EXTENUATING CIRCUMSTANCES
FINANCING 1 YEAR OUT OF FORECLOSURE
The FHA Underwriters have the ability to manually underwrite the file and get an
"exception" if there are extenuating circumstances (ie Medical, Death, multiple job loss).
Buyers would need to write out a very detailed explanation of exactly what happened,
and will need to submit supporting docs (legal, medical, etc). Each File will be reviewed
by UnderWriting to determine if the circumstances warrant "Extenuating".
If so, they will grant Pre-Approval.

Prefer to work with those that will sign a buyer's rep agreement.
Also looking to work with those that are NOT working with an agent already.
We don't have investors to buy the house so that we can sell back to you on a c/d

For other Loan programs please see:
Down Payment Assistance Now Available
(Available for a limited time until the money runs out)
-Ramsey County Down Payment
-Down Payment Assistance Crystal
-Brooklyn Center Grant Programs
-Anoka County Down Payment
-55411 Zip Code Neighborhood Program
-MN Grant Assistance Programs
-Home Help Guidelines
-Grant Programs (Over 30+)

Other Loan Programs:
FHA
FHA 203K (For rehabbers)
VA
Conventional
HomePath (Owner Occupied and Investment)
Manufactured and Modular Homes
MN Housing; MMP, CASA, HOMEHELP

$8000 stimulus money, ends April 30th, 2010
2009 FIRST TIME HOME BUYER TAX CREDIT

http://www.RonOrr.com
Phone: (763) 634-1766
Real Estate Broker
MinnesotaInvestors.com, Inc.

VA Loans

2010-01-29T08:11:00.001-08:00

(My Original Blog Post: http://ping.fm/jtqiT)
Jay asked if he could do a guest post, so here it is...

Veterans and active duty military members throughout Minnesota continue to turn to VA loans when the time comes to purchase a home.

These low-cost, flexible loans have surged nationwide in the last year, as military homebuyers flock to a program geared toward ensuring that those who serve can afford the dream of homeownership. In fact, <a href="http://ping.fm/XmCEJ">VA loan</a> volume was up 80 percent last year.

The VA already guarantees more than 1,600 mortgages in Minnesota, which is home to about 400,000 veterans. With credit tight and housing prices plummeting, more and more Minnesota veterans and their families are looking to maximize their dollar by taking advantage of the financial benefits earned by their service.

VA loans allow qualified borrowers to purchase homes worth up to $417,000 without a down payment. For most private conventional loans, the minimum down payment is 15 percent.

VA loans are also easier to obtain for most military homebuyers. About 8 in 10 VA borrowers couldn’t have qualified for a conventional loan.

The no-down payment benefit is routinely cited by veterans as the program’s finest. But VA borrowers also:

-Avoid paying private monthly mortgage insurance

-Can purchase with higher debt-to-income ratios than most loans

-Allow sellers to pay up to 6 percent of closing costs and concessions

-Face no penalties for pre-paying on their mortgage

The Department of Veterans Affairs guarantees about 25 percent of each borrower’s mortgage. That guarantee helps spur VA-approved lenders to work with military homebuyers and issue excellent loan terms.

To be eligible for a VA loan, borrowers must first fall within these <a href="http://ping.fm/sx5SVva_loan_guidelines.html">VA Loan Guidelines</a>:

-Military members who’ve served 181 days on active duty or three months during war time may be eligible.

-People who have spent at least a half-dozen years in the National Guard or Reserves

-Spouses of those killed in the line of duty

Veterans and active duty members can learn more about the power of VA loans by visiting VAMortgage Center.com

Happy Thanks Giving We are off today!

2009-11-26T07:45:00.001-08:00

(My Original Blog Post: http://ping.fm/8QsL1)
I hope everyone has a happy Thanksgiving and holiday season. RonOrr.com and MinnesotaInvestors.com, Inc. won't be working today, but when we get right back to work most of you know that you can follow me through nearly a 100 social networks at www.RonOrr.com. To make it more simple for everyone, it's easiest to talk to me LIVE on facebook. It's easiest to get my "most updated" posts/training from my email opt-in list at this time, located at: www.RonOrr.com

RonOrr.com Timelines-Opt-in Subscribe Now!

2009-11-23T15:28:00.001-08:00

(My Original Blog Post: http://ping.fm/BAzMr)
As requested, you can now opt-in to RonOrr.com Timelines by email for FREE, and you'll get the info that everyone has requested, and you can follow me daily. down payment assistance, contract for deed, rent to own, loan programs, what's happening in real estate, 100+ pages

www.RonOrr.com

Down Payment Assistance for a House

2009-10-19T08:23:00.001-07:00

(My Original Blog Post: http://www.minnesotainvestors.com/blog/down-payment-assistance-for-a-house/)
These programs are for a limited time.

Here is what we have, please keep in mind you may email at anytime
and we can provide more information and follow up with you and if
you like what you hear than we can talk by phone later.
You can email me
ron@minnesotainvestors.com
or you can fill out your info at minnesotainvestors.com

The programs will all come down to two things:
Credit Score and the money you currently have

We have found ALL the money for you, and have a program for ALL credit scores.

If you have a foreclosure/short sale/bankruptcy from the last 2-3 years, or
If your CREDIT SCORE is 300-579:
First off we can help get your credit score to increase realistically:
30 points in 60 days and 50 points in 4-6 months
Anyone with a 530+ credit score should contact us immediately as you could probably buy a home soon.

Rent to Own Programs are available. These are typically 12-36 month terms to live in the house and wait for a loan
and under 580 credit score should be ok. We'd prefer you have $5000-$7500 for money down as we have an agent
to help with the paperwork, and showing, negotiating and finding you houses. The agent does a lot of work and
gets paid by the seller.

Contract for Deed programs are available. These are typically 24-60 month terms to live in the house until
you get a refinance loan at some point. We'd prefer you have between $7500-$25,000 for money down as we have an agent
to help with the paperwork, and showing, negotiating and finding you houses. The agent does a lot of work and
gets paid by the seller.

Remember even if your credit score is under 580 like above all of the above programs are available to you RIGHT NOW.
If you have about a 530+ credit score within as little as 60-180+ days we may be able to get you a home with
proper credit repair work if you work with us.

if your CREDIT SCORE is 580-619
We have credit repair help for you also
and 1 loan program that is starting around 580+ credit score right now, so you may be able to buy a house.

if your CREDIT SCORE is 620+
You'll be able to apply for a few different loan programs:
100% loan programs
96.5% FHA loan programs
VA loans

If you don't have much money for a down payment and want to still get a home loan, we have money available
through the stimulus plan which is $8000 plus many different counties are providing down payment assistance:

Dakota County- Up to $15,000 + Tax Credits

Hennepin County- Up to $15,000 + Mpls City Grant Assistance + Subsidized Interest Rates

Ramsey County- Up to $20,000 + St Paul City Grant Assistance + Subsidized Interest Rates

Scott County- Up to $7,500

Plymouth-Up to $25,000-to be used for Down Payment,Closing Costs and Principle Reduction.
This is a Zero Percent, Deferred Loan. Payment is due when the Property is sold or
ceases to be Owner Occupied. Loan Payment in full is due in 30 years. re broker

***Please note that the stimulus money is said to expire as soon as the end of November, also many of these
counties are running out of monies soon, so there is a very limited time left to get all of this money assistance.
If you contact us today, talk to us this week, view properties by email through the next week, and look at homes
in person as early as late next week, and put in an offer, with the idea you'll often negotiate with the seller,
and you may even need to have offers in on a few different places, then you could be getting an accepted offer
in 2 1/2 to 3 weeks from now if you are really moving fast. If you consider that the loan process can take 3-5 weeks
part of that process overlaps in timelines, but that means you would have to contact us right away in order to take
advantage of this down payment money before it runs out, especially the $8000 stimulus which ends in November, as reported
on the radio, so that means you would contact us now and start seeing homes within a week, there is a sense of urgency
only if you want to use county and government money, otherwise if you wait another week or more, you may need to use
your own $5000-$20,000 hard earned money, and in this economy I know that can take years to save, so I am just looking out
for you and trying to get you to take advantage of this limited time availability of monies, so you can save your money
for a rainy day emergency fund.

Let's go over the most popular loan programs right now:

Fannie Mae HOMEPATH Loan
- Minimum 660 minimum middle FICO score required
- Appraisals are NOT required
- Great for first time homeowners AND Investors
- 97% LTV Primary Residence - 90% LTV Investor
- No monthly Mortgage Insurance payments
- Owner Occupied AND Investment Property
- Down payment can be 100% gifted
- Property must be listed for sale with the Fannie Mae HOMEPATH program
- NO declining market restrictions

Federal Housing Administration Loans - OK to 580 scores
- Minimum 580 minimum middle FICO score required
- Great for first time homeowners
- 30 Year Fixed Rates Only
- Low, government sponsored, monthly Mortgage Insurance payments
- Owner Occupied Only
- 12 months verified rent history required
- Down payment MUST come from borrowers own funds
- Gifts allowed for all closing costs
- Compensating factors required for 580 scores
- NO declining market restrictions

Federal Housing Administration Loans - 100% Gifts Allowed for Down Payment
- Minimum 620 FICO score required
- Great for first time homeowners
- 3.5% Down Payment can be a gift from relatives, employer, city grant
- VERY LOW 30 Year Fixed Rates
- Low, government sponsored, monthly Mortgage Insurance payments
- 1 Day out of Chapter 13 OK with re-establish credit (2 years with Chapter 7)
- Owner Occupied 1-4 unit only
- NO declining market restrictions

USDA Loans - 100% No Money Down for Qualified Properties
- Minimum 620 FICO Score - buyer(s) must have “reasonable” credit history
- Great for low to moderate income and first time homeowners
- Household Area Median Income Limits Apply
- LOW 30 Year Fixed Rates
- No monthly Mortgage Insurance payments
- Owner Occupied Only
- Property must be located in a USDA defined market

Veterans Administration Loans - 100% No Money Down for Active and Veteran Military
- Minimum 620 FICO score required - buyer must demonstrate ability to pay
- True No Money Down Financing for qualified buyers
- Low 30 Year Fixed Rates
- NO Monthly Mortgage Insurance payments
- No Income Limitations
- Loan Amounts from $75,000 to over $417,000
- Owner Occupied Only
- No declining market restrictions

Conventional Loans (Fannie Mae and Freddie Mac) - 100% Gifts Allowed for Down Payment
- Minimum 680 FICO Required
- Great for the established buyer looking to leverage through financing
- 3% Down Payment can be a gift from relatives, employer or city grant
- LOW 30 Year Fixed Rates
- Median income limits apply (only income from borrower on loan used to qualify)
- Loan amounts up to $417,000
- Owner Occupied Only
- Monthly Mortgage Insurance payments required
- Declining market restrictions apply

real estate broker
You can email me
ron@minnesotainvestors.com
or you can fill out your info at minnesotainvestors.com

MyDesktopTherapist.com Subliminal messages

2009-09-07T18:58:00.001-07:00

(My Original Blog Post: http://ping.fm/H6DN7)
I'd recommend going to MyDesktopTherapist.com to learn how to program your mind with positive affirmations and positive thoughts. Just make sure to phrase the affirmations with "I am" and in the present tense. Also they must be want you want, not what you don't, so they are true affirmations. You can use the subliminal messages through Audio, Video, Flashing Type and messages. I am currently creating and editing my own type for all areas of life, health/fitness, relationships, finances, mind, etc to keep myself on track, motivated, and I let it flash and run in the background while I am doing other things on my laptop. It's a great way to maximize your time, and get hours of quality affirmations in while doing something you already do like using a computer or the internet. You don't have to read what you type, it hits your subconcious mind, this is considred one of the most popular software in this category. This is some of the same concepts as seen in the now famous The Secret DVD.

www.RonOrr.com

Butterfly Effect DVD

2009-08-28T04:37:00.001-07:00

(My Original Blog Post: http://ping.fm/rKwU0)
I just watched this movie for the second time... It's a must see. The concept of the butterfly effect is something as simple as how a butterfly flaps it's wings in this place can affect a tsunami on the other side of the world. It's the idea of how a simple action by something can alter the path of how something else happens in life to the same person or someone else and it just goes from there. I really like the concept, it reminds me a little bit of my slight edge post I did before. There are 3 of these movies now in the series, I thought #1 was by far the best, the 2nd one is pretty good though, the 3rd one got a little much, but different. They all have the theme in common that they try to go back in time through their mind to change things and the outcome. The important lesson I would take from these movies, is that the past is the past, don't try to hold onto resentment , anger, jealously or any other negative emotions, you can't go back and change it, what you can do is just do it right the first time, that way you will eventually find your actions affecting one after another compounded in time ultimately getting you to where you want to be some day, and then when you do look back in your mind like in the movie, you will be glad you took those actions in that way, as you are the total sum of everything you do, and your thoughts (Earl Nightgale) best explains this. I would recommend this movie even though it shows how negative actions mostly effect your life, this is probably the most important point, but it would be nice if any of the movies showed more how positive actions can affect your life in the same way over time. What people need to understand is it's not linear, it's compounding, so something as simple as eating wrong 1500 days in a row, or eating right 1500 days in a row can not easily be erased with a quantam leap, or a wave of a magic wand, little actions make all the difference, stop thinking instant gratification, and lottery, and start thinking of the tiny positive actions to move yourself forward.

www.RonOrr.com

www.subliminalmp3s.com Subconscious positive affirmations

2009-08-27T17:33:00.001-07:00

(My Original Blog Post: http://ping.fm/Sj2eb)
Many to choose from, they just added more:

This offers you a way to get postivie affirmations to condition yourself to get what you want, no matter which area of life we are talking about. It takes positively stated present tense phrases (affirmations) and hides them in to soothing audio so that only your subconcious can here it. This is something I listen to when using the computer or going to sleep, I find it a great use of time.

The Be Happy Attitudes Robert H. Schuller

2009-08-25T17:53:00.001-07:00

(My Original Blog Post: http://ping.fm/tOXJP)
I just got done listening to this tape set at the end of July 2009, and I have to say I really enjoyed it. I have seen Robert Shuller older on tv over recent years, but it's good to listen to an audio series I believe from about 1986 and to show how much passions Robert Shuller always had. He really wants to help others you can tell in his voice. He has a wealth of experience and knowledge and he kept me interested through all of the tapes. I would highly recommend tracking this audio down and listening to anything by him. He takes the be attitudes and does his be happy attitude version. He is an inspiration to others and he gives great credit to some of the legends such as Mother Theresa and her personal life story. He talks about people and their personal triumphs and tragedies and how they can overcome them.

www.RonOrr.com

Love is Letting Go of Fear

2009-08-24T17:12:00.001-07:00

(My Original Blog Post: http://ping.fm/IiAZ6)
I listened to this tape set which is from the very early 1980's and I was surprised how it was much different than a lot of the other things I have listened to. Some of the beliefs and quotes in here reminded me of the power of now. There were a lot of good points made about living in the presence and not letting the past or future cloud your judgment. It made a good point about carrying resentment forward and how simply letting go of your anger would allow you to love or feel loved again. What it was getting at really is why would you feel anger or any of those emotions if you didn't have to, why not let go of it, even if it's justified. He gave some good examples in the audio series, including someone he met in jail and his pesonal story. This was a unique tape series I enjoyed listening to, I'd recommend it because it's from nearly 30 years ago, it may be hard to track down.

www.RonOrr.com

Living the Seven Habits Stephen R. Covey

2009-08-23T17:08:00.001-07:00

(My Original Blog Post: http://ping.fm/Aa0pj)
This is considered a classic in personal development, and Stephen R. Covey is one of the top sellers in this category. I have listened to other audios of his like this, and have the 7th and/or 8th habit books recently purchased. I have listened to numerous audios of Stephen R. Covey and I can ensure you he knows his stuff. This tape set I believe is from about 1992, I believe wikipedia says 1989, but the lessons stay true today that it teaches. It's probably something you have to listen to a couple of times to remember a lot of it. According to wikipedia "It has sold over 15 million copies in 38 languages since first publication" http://ping.fm/4OW8B

The 7 habits are:

Habit 1: Be Proactive: Principles of Personal Choice ----

Habit 2: Begin with the End in Mind: Principles of Personal Vision

Habit 3: Put First Things First: Principles of Integrity & Execution

Independence to Interdependence

Habit 4: Think Win/Win: Principles of Mutual Benefit

Habit 5: Seek First to Understand, Then to be Understood: Principles of Mutual Understanding

Habit 6: Synergize: Principles of Creative Cooperation

Continual Improvement

Habit 7: Sharpen the Saw: Principles of Balanced Self-Renewal

Wealth Creation and Preservation Strategies

2009-08-22T17:27:00.001-07:00

(My Original Blog Post: http://ping.fm/PxGcr)
This is a 1 tape set, which is kind of an introduction and sales pitch from John Sundell, CLU. Who works locally here in Minnesota, I looked him up on the internet and he seems to still be in the business. It's a good quick overview of wealth preservation and how and what he tells his clients. It's really an intro to him and what you can expect when working with him. I've never met him, but he sounds like a smart qualified person. This is from the early 80's or late 80's I believe, it may be hard to find in stores.

www.RonOrr.com

Working Smarter Michael Leboeuf. Ph.D

2009-08-21T17:22:00.001-07:00

(My Original Blog Post: http://ping.fm/QCiGX)
This is a short tape that talks about working smarter, it talks about business and office work and talks about how to be more efficient at your job and the do's and don't's in a work environment. I thought this tape set was ok, it's a quick listen, so worth some new ideas, it's from the early 80's.

www.RonOrr.com

Men are from Mars Women are From Venus

2009-08-20T17:04:00.001-07:00

(My Original Blog Post: http://ping.fm/8vWeb)
I listened to this audio tape, it's pretty short 1+ hour. Also I bought the book recently at the end of July 2009, and I look forward to reading that for the full version. This is a must read or listen to audio as it will show you how women and men are as different as night and day. It will show you how each person perceives the situation is often wrong because they simply don't understand how the other thinks. There is a lot of talk about silence, talking, listening, reacting, etc. This could very well be eye opening to many as what appears to be is not always the case. Obviously John Gray is the top expert in this field and I have listened to another one of his audio's which I highly recommend.

www.RonOrr.com

Wayne Dyer and Byron Katie

2009-08-19T17:07:00.001-07:00

(My Original Blog Post: http://ping.fm/eBjoS)
Making your Thoughts work for you, 4 CD set. I just listened to this CD set in July of 2009, and I found it to be a little different than some of the other things I've listened to. The category I'd put it into though for Byron's part is self-reflection, self-realization, possibly spiritual for Wayne's part. Byron Katie is probably over 1/2 of the CD for audio and at the time of the recording has been teaching her concepts for 20+ years, she has a different approach. Her approach seems to have a lot of walking you through your thoughts, with some awkward silences, and she totally does a 180 degree spin on how you perceive things and how much of your world is what it is, because of what you put out there. She took many people form the audience who were upset with other people they knew well and showed them how it was their own personal problem, she didn't disagree with how they felt or that it wasn't justified, she just showed them how they can control themselves which later controls the outcome of others. It's deeper than I can explain, go out and buy the CD and listen for yourself.

www.RonOrr.com

Looking for Leads in the following categories

2009-08-18T15:17:00.001-07:00

(My Original Blog Post: http://ping.fm/fb5Wu)
If you know anyone that has a house situation, needs to buy, sell, down payment assistance, owes to much, ARM coming due, was thinking of a loan modification, any housing situation, please have them contact me. This is the latest ad.

The Slight Edge by Jeff Olson

2009-08-17T16:55:00.001-07:00

(My Original Blog Post: http://ping.fm/lsoye)
This is one of the most important cd's to listen to, I just finished listening to it the 3rd time through in the last couple of years. A lot of my business friends live by these ideas. This is a CD that you must purchase and listen to often it teaches you about how all of the little things are easy to do and easy not to do. It talks about how every aspect of your life from health, relationships, finance, any personal success comes from all of the little steps every day and eventually over time it just compounds. I can explain it to you, but it sounds too simple, it sounds like I am just saying practice personal dicipline, which I am, but again you have to listen to the CD to fully understand, it's 3 long CD's, I have had numerous people tell me it has made a big difference in their lives. I would describe it as what would seem like common sense, but you still need to hear it, it's explained in such a way you won't forget it.

www.RonOrr.com

Living Health Tony Robbins

2009-08-16T17:55:00.001-07:00

(My Original Blog Post: http://ping.fm/TFaTV)
I am listening to the 9 cd audio set Living Health by Tony Robbins, I am half way through and highly recommend it. It scares you into eating healthy. It talks about all of the acid in your system. How most disease is based on our lifestyle. It tells you how bad alchohol, smoking, soda and other things are for you. Most of the descriptions aren't favorable, so much so, is that you will want to start eating right. It talks about how anger and resentment emotions destroy your body. It talks about grease, and fatty foods. He talks about how imporant it is to have water and give your body lots of oxygen. This is a must listen audio as soon as you can, get your lifestyle on track right away. He talks about diets and which foods to combine and which ones not to. What to eat for breakfast and what not to and when to eat it.

Update May 24th, 2009, I am going to listen to most or all of this series of audio a 2nd time, it was a great learning experience. It teaches you how to get energy and protect your health. I have noticed in minutes how the foods I eat now makes a difference.

www.RonOrr.com

If Success is a Game, these are the rules

2009-08-15T14:41:00.001-07:00

(My Original Blog Post: http://ping.fm/JR5sh)
By Cherie Carter Scott. This is over a 6 hour audio and it defines success and what it is. Being fulfilled is the measurement of success and happiness. You must deem yourself fulfilled inside yourself, within your soul, deep satisfaction. 8 tracks about 45 minutes each track on average. This audio talks about what success means to different people, how they measure it, it's worth listening to to get an outside look at your goals and what it is you really want, your why, what you are striving for. A good audio worth getting into.

www.RonOrr.com

The Butterfly Effect #3 Movie/DVD

2009-08-14T08:57:00.001-07:00

(My Original Blog Post: http://ping.fm/WVsiJ)
There are lessons about life, decisions, and actions to take from this movie, I personally didn't like this one as much as #1 and #2, I thought the acting and story was worse and a little too much. This one is very much about going in the past to change things and causing more deaths in the meantime. This one had a lot of death and serial killing involved and is more of a killing thriller than the first two I believe. This one ended up having a nice twist near the ending and still had an overall good storyline. This one didn't have as much variety as the others. The theme continues though as you learn that each action and choice you make in life really teaches you how your life will end up as a result of what you choose, how just the small little things, make such a big difference later on in life, this is a great lesson to learn about life from these movies, I'd recommend watching, I think the theme and message is important, it's too bad more movies aren't made like this with more positive messages without the violence and killing, but you need to take out of each movie what you can.

www.RonOrr.com

The Butterfly Effect #2 Movie/DVD

2009-08-13T09:01:00.001-07:00

(My Original Blog Post: http://ping.fm/emAaJ)
This is a great movie, I have seen #1 and #3 also. The first one is probably the best as it's the first time you see the concept. The idea of the butterfly effect is a very important concept, it teaches you that something simple like the flapping of a butterfly's wings here in the US could lead to a Tsunami in Japan, or another big event. Each choice and decision we make in our life eventually leads us down the right or wrong path of where we will end up. This movie does a great job of showing that. He has the choice to go back in time and change the outcomes of certain split second events and how much his and friends lives are having made one small change in his life. It really makes you think about every choice and action you make on a daily basis and what's in your best interest as well as everyone around you best choice. Many times the little things you do can make a very big difference for others, this movie is a must see, the difference between each outcome is amazing and somewhat believable.

www.RonOrr.com

Memento a movie about time, no short term memory

2009-08-13T09:00:00.001-07:00

(My Original Blog Post: http://ping.fm/KYHqI)
This is a great movie, I just watched it for the 2nd time, it is about now having a short term memory and starting each day fresh not remembering what happened the day before. The movie takes place from the last scene to the first scene, it's a unique concept. Imagine if you were in a hotel or someone came to meet you, but you didn't know who they were, or why you were in that hotel, that's the dilema the main actor finds himself in constantly so with the use of tatoos, notes and more he learns to try to deal with the day to day. I think many people live like this, living day to day with no real improvements or not moving forward, in face many people go backwards, but just simply doing the right things every day over time will be like an investment. This movie challenges your mind to think in a different way the way it's structured, you will think about your life and time differently also after you watch it.

www.RonOrr.com