Foreclosing note: $0.00 !

Those auction trustees must be getting a real kick out of themselves.

By Ryan Rockwood 

Sure, we seen many PV homes ‘accidentally’ sold at auction. And lots of other funny incidents too, resulting in Palos Verdes families getting kicked out of their long-time homes. But this week a new high (or low, or whatever). It looks like the State of California is foreclosing on itself!

Check out the strip of municipal land in Palos Verdes Estates that recently got its walking papers! What exactly does the mailman do with a Notice of Trustee Sale addressed to a small strip of parkland? My best guess is to tape the notice to a tree, or something.

So are you interested in purchasing some city property that you can never build on and never live on? Yes? Well then this may be the property for you.

Stay tuned for more knee-slapping stories of foreclosures in the Palos Verdes Peninsula!

For information on this property (actually, don’t call me about this one…it’s obviously a mistake, right?) or any other property in Palos Verdes pick up that phone and call 310-809-0203. And for goodness sake, be sure to subscribe to this blog!

Do you refuse to ‘give your house away?’ Well, use the recent sale of 27661 E Palos Verdes DR , Rancho Palos Verdes 90275 as your guide!

I won’t get into the details but suffice it to say this ‘determined’ homeowner has been trying to sell since late 2005. (That’s like 3-years on the market, for those wondering if I just made a typo).  I could go on and on about this property and how every Realtor in the area was sick of showing this listing at least 2-years ago – but I’ll just leave it at that.

Honestly I’ve too much listing fatigue to even analyze this one more than this: 9/9/2005 listed at $1,285,000. 8/20/2009 sold at $1,027,000.

One significant fact:

This is a really nice home. I would guess they had more than one $1.2 million-plus offer within the first 3-months of listings.

One amazing Realtor:

Hat’s off to listing agent Gayle Probst of PV Coldwell Banker. I’ve done a couple deals with Gayle and she is awesome. But to manage for 3-long years (without pay)  and not murder your clients must be a new record. Gayle is a real pro so I’m certain she didn’t pull any punches with this homeowner. This homeowner had the facts, a skilled and experienced agent and it was 2005, for goodness sake! Real estate was flying off the shelves.

The fact of the matter? Who knows, but smart money is on a homeowner that ‘knew better’ than everyone else!

*Sigh* Well, next time I’m reaching the Red Zone with a client I’ll have to repeat my new mantra: WWGD? (What would Gayle Do?)

Handy reference guide:

Realtor Gayle Probst in Action

Unreasonable Home Sellers (in general)

Most of my clients never know that I don’t eat meat or dairy or any animal products. I also chose not to buy or wear products and clothing made from animal products. It’s a personal decision I made some years ago.

Note to self: Get new shoes.

These days there are great alternative options for everything from protein to Jello. So it’s not usually a big deal. But today that is not the case. I’m in massive pain.

The reason for my agony? Vegetarian Shoes.  Take a second and try to get over your amazement that such a thing exists. Indeed! What did you think we did?

Anyway, no surprise they are terrible quality and incredibly rough on the feet. They look OK for a couple months. But leather continues to be a tough product to beat. Leather rules the garment industry.

So why this discussion of my footwear and why should you care? Because I spent the day walking around announcing a remarkable free seminar we are going to hold for the community on Monday, March 16. You are invited. But I’ll be wearing my leather-free sneakers and I apologize in advance for the fashion faux pas.  

What you need to know:

Heard of the Housing Bailout? Well, for most non-Bernard Madoff folks like you and me the bailout is only going to benefit you if you are approved for a Loan Modification. What is a Loan Modification, you ask? Geez, what rock are you living under? Did I sell you that rock?

Loan modification is a process whereby a home-owner’s mortgage is modified and both lender and homeowner are bound by the new terms. The most common modifications are lowering the interest rate, reducing the principal balance, ‘fixing’ adjustable interest rates, increasing the loan term, forgiveness of payment defaults & fees, or any combination of these.

————-That’s courtesy of Wikipedia. Learn more by clicking here.

Now you are probably wondering something along the lines of, ‘Gosh, could I get a loan modification?’ And I’ve got GREAT news for you: Maybe.

We have personally done a bunch of loan modifications (including 6 of our own personal mortgages). And we proceeded to write a book on How to Get a Loan Modification. (I wish I could say my expertise was on the topic of being super wealthy and not knowing what to do with all that cash lying around. *Sigh* Oh well, maybe someday)! Until then, when life hands you lemons…..well, you know the rest.

So here are the details you’ll need to determine if our free seminar (that could change your life) is worth missing reruns of CSI Miami.

FREE – Mortgage Modification workshop  March 16th at 7 p.m.

Hosted by Loan Modification Expert Author Mike Rockwood

60-Minute Loan Modificationauthor, Mike Rockwood, will show South Bay homeowners how to apply for and negotiate a loan modification with less than 1 hour of work.

Mike says: “I’ve already modified 6 of my own mortgages, and my system makes it utterly painless to lower your interest rate, lower your monthly payment, and save your home.”

How it Works: You have two options (1) come and learn exactly how this works so you can do it on your own afterwards (2) bring your W2 forms from the past 2 years along with your last 2 pay stubs and you can do your application right there on the spot.

Time: 7:00  p.m.
Where: 500 Silver Spur, Suite 303, Rancho Palos Verdes, CA.
Cost: $97 Free of charge!
For:Southbay Homeowners with Bad Mortgages.                  

Limited Space! You MUST reserve your place by calling 310.634.0362

Still not sold?

Well for goodness sake, read our flyer below this very minute: 

How Bad is Your Mortgage?

“Learn How I Modified my Mortgage down to 5.125%, Knocked $199,433 off my Total Loan Expense, and Lowered my Monthly Payment by $686 all with No Fees and Only 60 Minutes of Prep Work!”

To: Struggling South Bay Homeowners
From: Mike Rockwood (Torrance, CA)

Dear Homeowner,

Let me guess… you’re struggling to make your mortgage payments each month, your house is dropping in value by the day, and you’re not sure what to do?

Don’t worry—you’re NOT alone!I used to feel physically ill when the 1st of the month rolled around. I’m an honest, hard-working person like you, but I got caught up in the buying frenzy of 2004-2007. I borrowed too much, my lender lent me too much, and I nearly foreclosed on all 5 of my properties…… but I was lucky enough to attend a workshop where I learned about mortgage modification, and within weeks, everything changed!

Here’s the truth: President Barack Obama has made mortgage modification the easiest way to save your home, lower your monthly payments, and lift you out from under water.

Times are tough, for sure, but there’s finally hope for people like you and me. Enough talk… let me show you some of my own successes to date:

My Indy Mac Loan Modification:

     Before: 6.5% fixed (not bad… but not good enough)
     After: 5.125% fixed
     Monthly Savings: $638 (and $199K over life of loan)

     *primary residence

My Wells Fargo Loan Modification:

     Before: 6.5% fixed

     After: 4.5% fixed

     Monthly Savings: $262

My Litton Loan Services Loan Modification:

     Before: 7.35% fixed

     After: 7% fixed

     Monthly Savings: $140 ($27K over life of loan)

     *Rental property

My 2^nd Litton Loan Modification:

     Before: 12.5% fixed

     After: 7.0% fixed

     Monthly Savings: $95 ($12K total over life of loan)

     *Rental property

     *PLUS I reduced my principal by 20%

Why Are Banks Giving Away Money Like This?

With five million homeowners facing foreclosure right now, and each foreclosure costing lenders a minimum of $50K just in fees, banks are so desperate to keep you in your home that they’re literally handing out money to people who are organized and ask the right questions.

My FREE Mortgage Modification Workshop works like this:

7:00-7:30 P.M. – I’ll show you how to quickly (we’re talking minutes here) put together a well-presented loan modification application that is guaranteed to get reviewed by your lender

7:30-7:45 P.M. – Together, we’ll write your hardship letter communicating to your bank your situation very clearly (this part is super easy… like filling in the blanks).

7:45-08:00 P.M. – I’ll take questions and give answers to any and all loan modification questions. I am an authority on loan mods, so if I don’t know it, it’s probably not important—and if it is important, I’ll find an answer for you before the evening is over!

Why Are You Doing This For Free?

I’m very proud of my new book, the 60-Minute Loan Modification, and I’m doing this as a means of publicity and promotion. As great as my book is, I realize that in about 12 months, loan modifications are not going to be offered anymore (banks aren’t THAT crazy), so I have to spread the word as fast as possible.

PLEASE NOTE: you do NOT have to buy my book, and this is not a sales presentation. This is a rare opportunity to get 100% free help from me. I’m an expert on mortgage modification, and I can help you.  

Reservations Required:  Call 310.634.0362 or email help@60MinuteLoanModification.com

Pre-registration is required to receive a toilet, and participants must be residents of Carson, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills Estates, Rolling Hills or a customer of Golden State Water Co. or California Water Service Co.

Recipients must also bring a copy of a current or recent water bill and a driver’s license. There is a limit of two toilets per home. Those who already have a 1.6 gallon-per-flush toilet are not eligible.

To pre-register and learn the event location, call 866-931-3494.

As seen on Thursday December 4, 2008 The Daily Breeze.