Domestic Development Company announces a compelling real estate investment product that allows real estate investors to invest in oil, while yielding the greatest payback, superior tax benefits and long-term cash flow.

“In today’s volatile real estate market, many real estate investors are seeking alternative investment opportunities,” says Charles H. Havens, CEO Domestic Development Company.

In fact, according to a recent article that appeared on FoxSmallBusinessCenter.com, home values have dropped for 57 consecutive months – a certain sign that the country’s housing market is still struggling to recover from the recent financial crisis.

Further, Inman News reported that most U.S. adults don’t expect real estate recovery until 2014 or later.

So, where can real estate investors turn?

“Investing in oil is the answer,” says Havens. “It’s real estate. It not only provides a secure investment environment; it also provides a superior tax advantage and proven, documented 25 to 45 percent returns, annually.”

While gold and the stock market are traditional investment avenues, key players at Domestic Development Company document that when you invest in oil real estate has major tax advantages and cash flow over gold; it’s less volatile than the stock market; and provides the overall greatest pay back and creates good-paying jobs in the domestic oil industry. Typically, real estate investors will make their initial investment back in two to four years.

Aside from ZERO depreciation in oil real estate, there are numerous advantages to investing in oil. Among them is the 1031 Real Estate Exchange for Oil and Gas Production. Under Section 1031 of the U.S. IRS Code 26 U.S.C. 1031, the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale. In turn, this defers any capital gain taxes that may be due.

Additionally, recent congressional incentives encourage domestic petroleum development via tax credits. These tax credits were placed in the tax code to make participation in oil and gas ventures one of the best tax-advantaged investments. For example, a $100,000 investment would yield $75,000 in tax credits.

About Domestic Development Company:

In business since 2004, Domestic Development Company’s mission is to provide economical and rewarding investment-grade opportunities in the oil and gas industry. DDC has an A+ rating with the Better Business Bureau.

The company attributes a large portion of its success to achieving reduced investor costs and higher returns by utilizing specific, proprietary strategies and integrated technological exploration methods for its revitalization to existing and capped wells.

As a result, investors have substantially reduced risk, lower costs and superior profitability.

For more information visit http://www.ddcoil.com or call 214-449-0834.

Tags: Mortgage News, oil real estate

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Just Remember: The governing administration stated they will aid 3 to 4 million home-owners with the Obama Making Home Affordable Program.

An boost in foreclosures, merged with the recent decrease in real estate sales, could send property prices in a free fall again. Some 91,118 people in trial modifications were canceled in June, bringing the total to 520,814 since the program began within the spring of 2009. Far more than 60% of those who dropped out last month had been in trials for at the least half a year. Property owners normally are kicked out of the mortgage modification program because they do not make the required payments, meet the qualifications, or submit the needed paperwork. Once their trials are canceled, about 45% of property owners receive alternate modifications, frequently one from their loan servicer.

Some 8.9% had foreclosure proceedings started against them and 1.3% lost their household in foreclosure. Only 364,077 stressed borrowers remain in the trial phase, some 38,728 of whom entered the software in June. Nearly 166,000 have been in trials for at least six months. 51,205 troubled homeowners received long term mortgage modifications in June, bringing the total to 389,198. 8,823 homeowners had their “permanent” modifications terminated, 195 of whom paid off their loans. “I feel like a broken record, but HAMP continues to perform extremely poorly,” said John Taylor, head on the National Community Reinvestment Coalition, an advocacy group. “The permanent modification numbers are simply way too low, while foreclosure filings continue above 300,000 for the 16th month in a row.”

That is 4,800,000 familes since Obama took office … is this “hope and change”?

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Today’s newest review by a Congressional Oversight Panel, stated only 168,708 homeowners have been offered a long-term mortgage modification as of February. This is just a tiny portion of the six million individuals with mortgages who are more than 60 days behind on their loans.

These numbers are horrible!

The homeowners who received assistance are LESS THAN 10% of what was initially claimed by the Obama administration. Why is it that Americans seem to consistently receive the short end of the Obama bail out stick?

Obama’s foreclosure prevention plan, at best, is likely to assist 1 million troubled borrowers, short of the administration’s original goal of up to 4 million homeowners.

The program is funded with $50 billion in Troubled Assets Relief, or TARP, funds, putting it under the panel’s grasp. “For every borrower who avoided foreclosure through HAMP last year, another 10 families lost their homes,” the panel said of the administration’s Home Affordable Modification Program.

“It now seems painfully obvious that Treasury’s programs, even when they are fully operational, will not reach the overwhelming majority of homeowners in trouble.”

The panel’s report is the latest to slam the president’s foreclosure prevention efforts.

Last month two additional federal government watchdogs unveiled blistering studies that condemned the current administration for inadequate execution of the Home Affordable Modification Program and they also raised serious doubts that four million struggling homeowners could remain in their homes.

The panel lays out a number of issues, such as the continued sustainability of the modified home loans and the final price tag to the tax payers, as well as, the true objectives of the program.

The panel is also worried that the half dozen foreclosure avoidance programs introduced by Department of Treasury over the previous year has lead to much confusion and delays.

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This will be one of the most crucial weeks in the last few months for the financial markets.

Very crucial economic information this week, but none more important than Friday’s February employment data.

The key data points this week are personal income and spending for January, both ISM manufacturing and services reports, February auto and truck sales and the Federal Reserve Beige Book release.

Markets are converting the fall in confidence to far more job cuts and no improvement in wealth. We will add that many consumers that have managed to hold on and hoped to wait the recession out, are now beginning to retreat as the end is slipping farther out for many that so far have “weathered” the financial mess.

The early estimates for the February jobs report are for 20,000 additional jobs lost and the unemployment rate to increase to 9.8% from 9.7% in January.

In the beginning of this week we are not really planning on any extra growth in the bond market and we are anticipating the equity markets to be relatively quiet.

Based on the early estimates for the non-farm jobs, we believe the decline in jobs will be more than that and the joblessness level will be climbing back toward 10%.

The decline in interest rates last week is a tale of 2 stories, the ongoing increase in sovereign debt caused by debt problems in Greece and safe haven moves by investors into treasuries that are taking some financial resources off the table.

Look for the week to become progressively unpredictable by midweek as players make adjustments for employment data.

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According to the National Association of Realtors (NAR), existing home sales fell in January but are above last year levels. Economists polled by Thomson Reuters had forecast that completed sales the previous month increased roughly 1% to a seasonally revised annual rate of 5.5 million, up from 5.45 million in December.

Existing real estate sales, together with single family, townhomes, condos and co-ops, dropped 7.2% to a seasonally adjusted annual rate 5.05 million units in January from a modified 5.44 million in December, but continue to be 11.5% above the 4.53 million unit level in January 2009.

Total real estate stock at the end of January dropped 0.5% to 3.27 million current property available for sale, which represents a 7.8 month supply at the current sales pace, up from a 7.2 month supply in December.

Current unsold inventory is 9.6% below a year ago, and is at the lowest level since March 2006. The national median present real estate price for all housing types was $164,700 in January, unrevised from a year earlier.

Distressed property, which accounted for 38% of sales last month, continue to downwardly distort the average price because they typically are cheaper in comparison with standard real estate in the same area. On the other hand, this is a double edged sword., because the the vast majority of ‘troubled homeowners’ would not be looking to sell their houses if it were not for the terrible economic problems we are confronting in America today.

A parallel NAR practitioner survey demonstrates 1st time new home buyers acquired 40% of property in January, down from 43% in December. Investors accounted for 17% of deals in January, up from 15% in December; the outstanding sales were to repeat buyers. The survey also exhibits that buyer traffic increased 9.4% in January.

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According to DSNews.com a new study introduced by First American CoreLogic Tuesday, in excess of 11.3 million residential homes were in negative equity at the last year.

This equates to 24 percent of all houses in the United States with home loans, up from 23 percent, or 10.7 million households, at the end of last year’s third quarter. All told, the nation’s property owners are a combined $801 billion upside down. First American says an additional 2.3 million mortgage loans were approaching negative equity at the end of 2009, meaning they had below five percent equity. Together, negative equity and close to negative equity mortgages accounted for almost 29 percent of all homes with a mortgage loan nationwide. As of the end of last year, Nevada had the highest percentage upside down equity, with 70 percent of all of its home loan real estateunderwater. It was followed by Arizona (51 percent), Florida (48 percent), Michigan (39 percent) and California (35 percent).

Among the top five states, the average upside down equity share was 42 percent, compared to 15 percent for the remaining states.

In statistical terms, California (2.4 million) and Florida (2.2 million) had the greatest number of negative equity mortgage loans accounting for 4.6 million, or 41 percent, of all negative equity mortgages. . “Since we expect home prices to slightly increase during 2010, upside down equity will remain the predominant issue in the housing and home loan markets for some time to come.”

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The Mortgage Bankers Association’s (MBA) released its ‘Weekly Mortgage Applications Survey’ for the week ending February 19, 2010.

The Market Composite Index, a measurement of home mortgage application levels, dropped 8.5% from the prior week.

The Refinance Index decreased 8.9% from the preceding week, while the seasonally revised Purchase Index decreased 7.3% from the prior week. This now puts the index at its weakest level since May 1997.

The 4 week moving average Market Index is up 1.6%. The four week moving average is down 2.1% for Purchase Index, while this average increased 3.2% for the Refinance Index.The refinance share of mortgage loan action decreased to 68.1% of total applications from 69.3% the prior week.

The adjustable rate mortgage (ARM) share of action somewhat improved to 4.7% from 4.4% of total home loan applications from the past week.

The average interest rate for 30 year fixed rate mortgages grew to 5.03% from 4.94%, with points increasing to 1.34 from 1.09 (including the origination fee) for 80% mortgages.

The average interest rate for 15 year fixed rate mortgages grew to 4.35% from 4.33%, with points increasing to 1.31 from 1.02 (including the application fee) for 80% loans.

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Mortgage delinquency rates are down but foreclosures at all time high

According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey, the delinquency level for home loans on one to four family residential properties dropped to a seasonally modified rate of 9.47 percent of all the mortgages currently outstanding as of the end of the 4th quarter of 2009. This was down 17 basis points from the third quarter of 2009, and up 159 basis points from one year ago.

Before you continue reading this post, please take a few variables into consideration. It is our professional opinion that this dilemma is not close to be over and that most of the associations/government entities are trying to make us all ‘feel good’ so there is no major political backlash.

Just take a look at this documented evidence below. We still have a good 2 years of these problems. Don’t let all the ‘hocus pocus’ fool you.

This chart, from Credit Suisse documents the probability of continued problems

This chart from Junuary 2007, puts us at roughly month 38 to 40, there is still the potential of 20+ months of adjustable mortgage issues.

10%, almost 10% of ALL the homes in America are facing financial problems! There is a symbiotic relationship between foreclosures and home vales, and in this case, home values that are falling. So what does that mean? When a person looses their home, their neighbors typically loose 1% to 3% of the value of their home and they may not even have a financial problem … yet. This is called collateral damage. So just 10 foreclosures in the neighborhood may equal 15% to 30% reduction in the value of your home. This is why, in many areas, you see property values plummeting 50%+.

Tell those families who just lost their home, it is getting better. tell the neighbors, who just lost all their equity, ‘don’t worry about it’.

Just remember, in typical economic times, less than 2% of homeowners will have a mortgage problem. Today that number is 500% greater than that. Until those numbers are REDUCED to those manageable levels, a lot of families will be hurting.

Jay Brinkmann, MBA’s chief economist, says, “Despite the drop in short-term delinquencies, foreclosure rates could continue to climb, based on the ability of borrowers 90 days or more delinquent to solve their problems. A sizable number of the loans in the 90+ day delinquent bucket are in loan modification programs. They are carried as delinquent until borrowers demonstrate they will make the payments agreed to in the plans.”

The non-seasonally modified delinquency rate increased 50 basis points from 9.94 percent in the third quarter of 2009 to 10.44 percent this quarter. The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure. The percentage of loans in the foreclosure process at the end of the fourth quarter was 4.58 percent, an increase of 11 basis points from the third quarter of 2009 and 128 basis points from one year ago. The combined percentage of loans in foreclosure or at least one payment past due was 15.02 percent on a non-seasonally adjusted basis, the highest ever recorded in the MBA delinquency survey.

The percent of mortgages on which foreclosure steps were started during the fourth quarter was 1.20 percent, down 22 basis points from last quarter and up 12 basis points from one year ago. The percentages of loans 90 days or more past due and loans in foreclosure set new record highs. The percentage of loans 30 days past due is still below the record set in the second quarter of 1985.

And we all know how well Home Affordable Modification Program is working.

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The pseudo federal government entity, the Federal Reserve (they are a private institution Not a federal government entity) raised its discount rate last night to .75% from .50%. It had been widely telegraphed they would do this, however, the timing of the move wasn’t anticipated so quickly.

The move signals the end from the Fed’s supplying of liquidity that drove its balance sheet to record levels and also the most aggressive monetary policy in its existence.

In the statement accompanying the hike, the Federal Reserve created it clear it had been not just a tightening move and low Fed Fund rates would continue for “an extended period”.

Federal Reserve officials, including Ben Bernanke, had made it clear within the past couple of weeks the first increase would likely be a hike within the discount rate which is the interest rate charged to banks for borrowing in the ‘window’.

Bernanke readied investors for the move in a February 10, 2010 testimony to Congress, saying the discount rate would have to be raised “before long.”

Within the minutes of the January 26-27 Federal Open Market Committee meeting released Feb. 17, policy makers said an increase “would quickly be appropriate.”

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Mortgage Delinquencies Still Going In Wrong Direction

According to TransUnion, a top rated credit reporting agency, 6.89% of mortgage payments were Sixty or more days past due in the Fourth Quarter of 2009, up from 4.58% in the final 3 months of 2008.

The prior record delinquency rate was 6.25% in the third quarter of 2009.

FJ Guarrera, vice president of TransUnion’s financial services business unit, says the fourth quarter boost was due in part to typical seasonal buying shifts. People are more inclined to have trouble paying bills during the last few months of the year as they run low on money because of holiday expenses. But he says that still accounting for normal season patterns, there is a lot of reason to be troubled about the speed of increase shifting higher. “To see continuing growth in the first quarter would certainly raise an eyebrow.”

TransUnion tracks mortgages that are two months past due as an indicator of likely foreclosure, because of the difficulty involved in hunting down three installment payments to bring an account present. The company said the delinquency rate stayed strongest in Nevada, at 16.2%, and Florida, at 14.9%. Arizona and California, the other 2 states hit hardest by the housing crisis, were third and fourth, at 11.3% and 11% respectively.

The greatest growth rates when compared with the third quarter were in the District of Columbia, Louisiana and Delaware.

Guarrera mentioned that many homeowners still have adjustable rate mortgages (ARM’s) made in late 2006 or early 2007 due to recast to higher rates in coming months and that could drive foreclosures even higher, especially where home prices have fallen to the point where values are lower than mortgages.

We’re not out of the woods yet.

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33 Months of Coming Foreclosures

The a recent Standard & Poor’s (S&P) report, it states that in connection with short sales, the hidden supply of REOs and pending foreclosures will likely take 33 months, or almost three years to clear if liquidation rates hold stable.

Even more unsettling is that S&P called its estimate “conservative” because the company’s research was based mostly on the amount of homes the company believes to be lurking in the shadows right now, repossessed homes that financial institutions have not put on the market and currently over due mortgages that will probably turn into foreclosures.

S&P’s assessment does not take into consideration any loans that have yet to show significant signs of hardship.

The ratings agency did not give a exact number of loans in its determined shadow supply, but said the original balance of currently seriously delinquent and REO loans stands at $426.3 billion. An earlier analysis by Amherst Securities estimates the dark cloud to hold about Seven million loans, while First American CoreLogic puts it at 1.7 million.

Analysts at Standard & Poor’s said in the statement, “It is our opinion that recent positive housing reports should not be construed as a sign that the distress in the residential housing market is abating, but rather should be attributed to the temporarily limited supply of homes on the market.”

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Please read the entire article below and then come back and click on this link The HAMP, FDIC & OneWest Bank Scam. You will begin to realize what the government is truly endorsing and big banks are lobbying for -- ON YOUR, the taxpayer DOLLAR.

Diana Olick picked up on something Seth Wheeler, Senior Advisor to the Treasury Department, stated last week. According to Olick: “In discussing the Obama Administration’s Home Affordable Modification Plan (HAMP), that is arguably less successful than anybody designed, Wheeler made a comment leading some to believe that the Administration might be shifting concentrate from modifications to another plan which simply gets troubled debtors out of their houses as rapidly and cleanly as possible. Wheeler told ASF members and guests, ‘Short revenue, deeds in lieu are other methods to prevent foreclosures to help achieve stability [in housing]. Modifications are only for a particular subset of distressed home owners.’” Olick points towards the broadly acknowledged failure of HAMP and suggests that Wheeler’s mention from the Home Affordable Foreclosure Alternatives program (HAFA) is indicative of the shift in concentration for the Obama administration.

HAFA particularly targets short revenue and deeds in lieu of foreclosure. According towards the directive: Servicers must think about feasible HAMP eligible borrowers for HAFA within 30 calendar days from the date the borrower: Does not qualify for a Trial Time period Program; Doesn’t successfully complete a Trial Period Plan; Is delinquent on the HAMP modification by missing at least two consecutive payments; or requests a brief sale or DIL. According to Olick: “My guess is that last one is the most popular.

The HAFA program offers incentives in this program “upon successful completion from the short sale” or Deed in Lieu. They include borrower relocation assistance of $1500, a servicer inducement of $1000 to cover admin and processing expenses and investor reimbursement of $1000 for subordinate lien releases. That’s when the investor allows up to $3000 in brief sale proceeds to go to subordinate lien holders. ‘It is my belief that the achievement of HAFA are going to be vastly higher than HAMP,’ says Mark Hanson, a mortgage consultant in California. ‘Going forward, figuring out precisely what this indicates for foreclosures, REO, house sales, housing inventory, values, bank balance sheets, second mortgages, RMBS costs, the builders, the mortgage insurers, and sentiment is where the concentrate will be”.

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Freddie Mac and Fannie Mae were among the first big financial corporations to receive significant federal bailouts after the financial crisis hit in 2008. Federal government authorities have been racing to fix bailed out car manufacturers and bankers and are pressuring to reshape the financial services industry.

Fannie and Freddie stay troubled wards from the state, with no blueprints for the future and no evident termination plan for the federal government. Nearly a year and a half after the outbreak from the global economic crisis, many of the difficulties that contributed to it haven’t yet been tamed. The U.S. has no system in place to deal with a catastrophe of its largest financial institutions. Derivatives contracts from the type that disabled American International Group Inc. continue to trade within the shadows, and traders stay heavily reliant on the same credit ratings businesses that gave AAA ratings to lousy mortgage securities. Fannie and Freddie, for their part, stay at the core of a housing finance method that inflate risky housing bubble.

Following prices collapsed, sending distress waves all-around the world, the federal government put America’s housing-finance system on life support and it has yet to make a decision how that troubled method ought to be rebuilt. On Dec. 24, Treasury said there would be no limit to the taxpayer cash it was willing to deploy over the next three years to keep the two companies afloat, doing away with the previous limit of $200 billion per organization. So far, the federal government has handed the two firms a total of about $111 billion. The government is “running Fannie and Freddie as an instrument of national economic policy, not as a business,” says Daniel Mudd, who was pushed out as Fannie Mae’s chief executive in September 2008 when the federal government took control.

Other housing authorities contend that prolonged federal government intervention will make it much more hard and costly to ultimately wean the firms off government support. “The much more aggressively we keep on flinging the can down the road, the more substantial the profits / losses become and also the harder it becomes” to address the companies’ future, says Joshua Rosner, managing director at investment-research firm Graham Fisher & Co. As mortgage delinquencies rise, Fannie and Freddie are required to set aside much more capital to cover anticipated losses. Each quarter, if their revenues are too little to satisfy those economic needs, the Treasury has to kick in much more cash.

With delinquencies still climbing, the outlook is grim. At Freddie, 3.87% of single family mortgages were at least 90 days past due at the conclusion of December, up from 1.72% a year earlier. Fannie is uglier: 5.29% were 90 days past due in November, up from 2.13% a year earlier.

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Does the Obama Administration really want to clean up this mess?

Indymac and the FDIC

Indymac closed it’s doors and was seized by the FDIC in July 2008

Indymac now is OneWest Bank

The assets of Indymac Bank were sold to OneWest Bank by the FDIC in March 2009

Steve Munchin John Paulson George Soros

So who owns OneWest Bank? Goldman Sachs VP Steven Munchin along with left-wing progressive billionaire George Soros and John Paulson… Yes, the brother of Hank Paulson, remember the ex-Secretary of the Department of Treasury aka ex-CEO of Goldman Sachs?

———————————————————————-

(Remember: Indymac was one of the largest holder of the Option mortgages. If you don’t recall, the option mortgages are the mortgages that you only pay a 1% interest rate and the actual rates will fluctuate around the the actual rates offered, so if the actual rate was 6% then the Indymac homeowner deferred 5% of his/her payment to the back of the loan AND that increases the amount owed to the bank, aka, the mortgage balance. Furthermore, in a depreciating environment where home values have declined by 50% in a lot of areas, it looks uglier and uglier for the tax payer! Let me continue…)

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Mortgage Problem Step 1

Mortgage Problem Step 2

Mortgage Problem Step 3

Mortgage Problem Step 4

Mortgage Problem Step 5

Mortgage Problem Step 6

Mortgage Problem Step 7

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Barney Frank 2009 Porker of the Year With President Barack Obama As The ‘Write In’ Favorite

Chairman Frank garnered the lion’s share of the votes as a result of his relentless and garrulous role in the failure of the government-sponsored enterprises Fannie Mae and Freddie Mac, the two mortgage government-sponsored enterprises (GSE), which were taken into government conservatorship in September of 2008 after they began to collapse. The two GSEs, which own or guarantee half of the nation’s $11 trillion home mortgages, have been on life support with $112 billion in taxpayer funds since then and taxpayers could be liable for trillions in bad loans on their balance sheets. -- Source: cagw.org

Among GSE defenders, Chairmen Frank is without any notable contenders. He secured their lavish franchises and fended off all efforts to confirm GSE oversight even when it has become crystal clear that GSE executives had manipulated profit statements, given themselves huge bonuses based on bogus details, and steered the companies into such a dangerous condition that they threatened the complete monetary structure. In one of his most outrageous arguments, he told The New York Times on September 11, 2003 that the GSEs were “not facing any type of financial crisis…[t]he much more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” During a 2003 committee hearing, he casually proclaimed that he didn’t want “the same type of focus on safety and soundness that we have in Office of the Comptroller from the Currency and the Office of Thrift Supervision. I wish to roll the dice a little bit much more in this situation towards subsidized housing.”

As recent as January 22, 2010, Chairman Barney Frank made this striking declaration, Frank said that his finance committee will now endorse “abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance.” Source: http://www.nytimes.com/2010/01/23/business/23fannie.html

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