Palos Verdes HomeOwner Advocates to donate a free copy of Mike Rockwood’s newest handbook written specifically for South Bay homeowners! (Click below)

By Ryan Rockwood

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.

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

 

 

 

 

 

 

The South Bay Environmental Services Center will distribute free environmentally friendly toilets on Saturday. 

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.

The first question you should ask yourself is why you want to invest in South Bay real estate. Most people are seeking financial independence. Some people want their assets to grow, some want an ongoing income stream and some want tax advantages. The good news about Real Estate is you can have all three!

Many people save and invest their entire working lives so that they can retire with enough money to live whatever lifestyle they want when they stop working. The big question is “How much money do I need to put away to support that lifestyle?” Well, if you want to have $100,000 a year to live on, you will need to have about 20 times that ($2,000,000) invested to meet that income need at retirement. Then, whatever annual dollar amount you need today, you will probably need double that every 15 years. 

One of the best things about real estate investing is it offers you leverage. Think of it this way, if you have $10,000 invested in a stock or bond that returns 5%, you will earn a 5% return or $500. If you put $10,000 down on a $200,000 piece of property and it goes up 5%, you just doubled your money or $10,000. That’s 100% return! Then, if you take into consideration that you could have received some cash flow, and your tenants are paying down your loan, and you get to write off depreciation and other expenses, 200% annual returns are not uncommon.

A good indicator for buying cash flow properties is what we call a “cash on cash” return. If it took $10,000 out of your pocket to buy a property that cash flows $250 a month ($3,000 a year), that’s a 30% return on your cash. 

The first thing that needs to be done is to find out how much money you can borrow. You need to talk to a lender that is familiar with investment real estate. A good lender can advise you as to what strategies you should employ based on your credit scores, savings and income. Once you know what you can qualify for, then you are ready to go on to the next step.

Determining which is the right area to invest is the next step. If you are primarily looking for appreciation, you will want to focus on the high-demand coastal areas. If you are looking for cash flow you may want to look in more established areas inland. I always advise looking for homes/units near major transportation centers or employment centers or universities, etc. 

Finally, you need to conduct due diligence. There are no short cuts here. It’s very important to investigate what you intend to invest in. What is the property really worth, what are the vacancy rates, what are the property tax rates, what does the owner typically pay for – utilities, lawn care, etc., is there a Home Owners Association and how will you manage the property and how much will a management company cost you?

 

The South Bay is a region just South of the City of Los Angeles that encompasses the smaller regional areas Beach Cities and the Palos Verdes Peninsula. Torrance is a large enough city that it is usually not included in these subcategories of the South Bay.

Save my South Bay Home!

It’s been long couple of years in Southern California real estate, especially the last two. Although fears of a systemic crash have somewhat abated, we’re far from out of the woods. The Housing Rescue Bill (July 2008) must have generated at least some degree of guarded optimism. Already, National Association of Realtors reported pending home sales nationally rose 5.3 percent from May to June (Aug 7 2008, St. Louis Business Journal).

Riding on the momentum, Rolling Hills homeowners faced with foreclosure would do well to capitalize on the various options that have been put in place to help ease their mortgage woes. It’s easy to understand how South Bay Citizens could jump into real-estate during the housing boom and it’s such a shame that these same folks would be swallowed up by foreclosure at this point now that the odds are actually in their favor.

To be sure, there’s no outright answer on how to stop a foreclosure on your Rolling Hills home. That being said, the more common ones are quite straightforward, leading basically to two possible outcomes: with the subject property retained or with it relinquished. The available routes to the former are refinancing, forbearance, loan restructuring, further loan and write-off. The latter can be accomplished through deed-in-lieu and pre-foreclosure or short sale.

Foreclosure Prevention Plan

Whether it’s keeping or dropping the Rolling Hills home, the endeavor to stop foreclosure must be laid out with a sound game-plan. Once that’s done, Los Angeles county homeowner must set out in a highly expeditious fashion. A typical profile of execution would look something like this:

• Review the financial situation thoroughly
• Check out all options
• Spot and skip the scams
• Consult professionals or experts

Lenders and government are certain to be willing to work hand in hand with affected Rolling Hills homeowners to help stop foreclosure these days as they are actually in the bind too insofar as the bigger picture of the overall housing crisis is concerned. With foreclosure, houses turn from asset to burden for lenders overnight, their surplus weigh down on the economy and even dampen property value in the neighborhood.

Read Also: HUD Foreclosure Help Page

How to stop a California foreclosure has become a common topic, be it at online forums, radio talk shows, public discussions, office chat and just about any form of everyday conversation. There’s also no shortage of information and services to turn to. Government agencies, banks and lenders, lawyers and attorneys, investors and brokers are all increasingly coming onto the scene. Books, guides and all kinds of other materials have been written on the subject. Scams and cons have not failed to get in the mix either, so watch out!

Rolling Hills Real Estate Agent Rocky Rockwood covers all of the Palos Verdes Peninsula.

Additional Reading:

• Torrance Investor’s Secrets to Guard against $$ loss
• Why One Redondo Beach Homeowner DIDN’T Hire Me To Be Her Real Estate Agent
• Find the Best Real Estate Agent to Buy or Sell your Home
• The very best home value currently in Torrance, CA
• Torrance Homeowners Use Creativity to Aid in Property Sales During the Weak Market