Lloyd Segal’s Foreclosure Bootcamp Saturday, November 21^st, 2009 & Saturday, December 5^th, 2009 from 8a – 5p

Foreclosure Bus Tour – Lancaster/Palmdale – Saturday December 12^th @ 2p

Loan Modification Seminar - Lancaster/Palmdale – Saturday December 12^th @ 11:15a – 1:15p

NEWSFLASH - HISTORIC RECORD LOW INTEREST RATES – AGAIN!!!

30 YEAR FIXED Current Rates today are 4.625% for 1.5 points + approximately $3k in closing costs on 14 day pricing up to $417,000

30 YEAR FIXED Current Rates today are 4.625% for 1.625 points + approximately $3k in closing costs on 35 day pricing up to $417,000

30 YEAR FIXED Current Rates today are 4.875% for 0 points + approximately $3k in closing costs on 14 day pricing up to $417,000

30 YEAR FIXED Current Rates today are 4.875% for .25 points + approximately $3k in closing costs on 35 day pricing up to $417,000

30 YEAR FIXED Current Rates today are 5.25% for absolutely 0 Cost on 35 day pricing (minimum loan amount is $250k) up to $417,000

The rates today for a zero cost loan are 5.25% on a 30 year fixed for a $250,000 loan (the new conforming jumbo limit is $729,750).

Please be aware, lower rates are always available by paying points, fees/closing costs – WHICH WE DO OFFER.  The question is, does it make sense to pay those closing costs & get those lower rates?  We can show you the break-even point & then you decide.  We offer both!

Yes, we have the same rates as the signs on the sides of the freeways, but please understand that it is going to cost you, to get those rates with anyone you go to.

With our program, if the rate drops, we can refinance you again at no cost to the lower rate - just like all of our borrower's did right after Hurricane Katrina. Rates dropped a .25% the day right after the Hurricane because almost everyone in New Orleans lost their jobs.  And due to those job losses, rates dropped considerably in one day. So guess what we did right after we closed their loans? That’s right! We refinanced them again to the lower rate & it didn’t cost them a penny. Now, we are not saying there is going to be another Hurricane, Terrorist attack, but I definitely do see the Economy slowing (I think Retail Sales are going to see 20-30 year record lows & the exact day I see it happening is the day after Thanksgiving – the busiest shopping day of the year), and if the economy does slow down some more, then guess what?  Rates are going to come down & we have a great program for you because, with us, we can refi you again & give you the lower rate at absolutely zero cost. As a company, we get paid the same amount to refinance you 1, 2, 3, or 4 times. So, our hope is that rates drop & we can refinance you again. Our average customer has refinanced 4x since May 2002 - because the rates kept coming down.  We are not market forecasters or anything like that, nor do we predict the future - we just hope the rates drop so we can refinance you again at no cost!

We are only one of 3 Co.'s that advertises this on TV & Radio in California. Our concept is volume.

We can be reached at 949-222-0240 & thanks for being part of the SFM Network.  We stand behind our match & beat guarantee no matter who you deal with as long as you get a good faith estimate in writing.

Foreclosure Bootcamp – Where & How to find them & buy them without 52,000 competing offers

Our Next FREE LOAN MODIFICATION WORKSHOP in Palmdale/Lancaster is Saturday December 12^th

Email me @ fred@sfmdirect.com & let me know if you would like to attend or not

Date – Saturday December 12^th @ 11:15a – 1:15p

Location - Lancaster Public Library, Lancaster, CA 93534

Cost – FREE

Our Next FORECLOSURE tour to Palmdale/Lancaster is Saturday December 12^th

Email me @ fred@sfmdirect.com & let me know if you would like to attend or not

Here’s what people told me from our last Foreclosure Tour in Lancaster/Palmdale!

Hello Fred, The tour to Lancaster was very meaningful for me and my husband.  Thank you for your time and kindness - Mariko Shibano

Take a look at this cash on cash spreadsheet I did on some properties I have been writing offers on.  There are some incredible deals out there right now.

Date – Saturday December 12^th @ 2p

Location - Lancaster Public Library, Lancaster, CA 93534

Cost – FREE

FRED, SHOW ME THE #’S!!

I am on Escrow on this property in Palmdale/Lancaster – here are the details $80k purchase price – 25% down - $20,000 + $3,000 (the seller is paying for $1,500 of it) + $4,500 for closing costs – the monthly cash flow is $592.20 – $7,106.40/yr on a 15 year fixed mortgage & then you divide that by your down payment of $20,000  (the money out of your pocket it took to close the deal) + fix up costs (approximately $1,500) + $4,500 in closing costs,  $26,000 in total costs out of pocket - & get this your rate of return on your money (we call it the cash on cash return – in other words, if you put the $ in the bank what interest rate are you getting?) In this case it is 27.33% on a 15 year fixed mortgage @ 5%.  That is incredible.  Generally speaking, the CAP rates on Commercial properties are in the 7’s in good areas in Southern California.  This is 27%+ on a 15 year fixed mortgage.  Now, granted we are comparing the cash on cash to the CAP rate, I understand, these are just incredible deals, no matter how you look at it.

Now let’s say you decide to take the $592.20/month of positive cash flow & use that to just pay down the principal.  Do you realize that your home will be paid off in 77 months (6 years, 5 months).  Now I was talking to my father & here is what he said (he is a conservative CPA & successful Real Estate investor).  “Well, it sounds too good to be true - outstanding investment & too good to be true – what is the rental market like?”  Now, one of my clients has some rental property there & he says he gets plenty of calls within a week when he advertises his properties for rent – we can handle getting them rented for you as well).  The only way to satisfy yourself is to go look at it yourself, so come with us this Sunday, November 8th!  You can go to google maps (you can look at the neighborhood up & down the street – the only thing you can’t do is look inside the house, however, we can get you pictures of the inside of the home from the multiple listing service or you can go drive there yourself  – remember you can go see the property anytime you want with your Real Estate Agent before escrow closes – in fact the final walk thru inspection is 5 days prior to the close of escrow – fyi!!) 

Come join us Saturday December 12^th @ 2p for a FORECLOSURE TOUR you just won’t want to miss!

Fred Solomon

Real Estate Education & Financial Coaching

If you or someone you know can benefit from this info, let them know about our workshops or give them our phone # - 949-222-0240.

Better Business Bureau AAA Rated

However, with the housing crisis still unfolding, I certainly don't want to buy property yet, right? But since mortgage rates are at all-time historic lows, how can I pass up this opportunity?  At all of our workshops, I ask by a show of hands, how many people think it is a good time to buy right now?  The answer is consistently, all of them.  In fact, I am actually looking for people who don’t have their hand raised to ask them why they don’t think it is a good time to buy. 

 Then, I start explaining some compelling statistics like in 2008 we had 2.6 million homes go into foreclosure.  Currently, 13.2% of all the loans in the US are delinquent.  The loan business is a $11.8 Trillion business.  According to a recent 60 minutes special, they are predicting $2.6 Trillion of loans to go into default by 2011, which is 22% of all outstanding loans in the US.  So, we are in the 4^th or 5^th inning of a 9 inning baseball game - http://www.cbsnews.com/stories/2008/12/12/60minutes/main4666112.shtml

 Now, after explaining all these statistics, the next question I ask is, “Out of the people who just raised their hands, how many people think property values are going down with all these foreclosures we have now and the ones that are coming?”  What percentage of people raise their hand?  All of them.  So, I go on to explain that you guys are telling me that it is a good time to buy but real estate prices are going to drop?  In other words, if a foreclosure closes in your neighborhood, what happens to the value of your property, up or down? 

Now, another important question I ask is, “How many people want to buy a stock if you know the stock price is going to go down in value after you buy it?” 

Here’s the difference between Real Estate and Stocks.  When people buy stocks/mutual funds they pay cash for the entire amount.  When people buy real estate, a very large percentage of people finance the transaction.   So, here’s the moral to the story.  If you are paying cash, you might want to wait to see what happens with property values over the next 12 – 18 months.  We recently had a bank account faxed over to the office with about $35 million in it and they wanted to buy some foreclosures and REO’s.  I asked the person who sent the bank statement over, this question, “How are you going to pay for the properties?”  The response was, “With cash”.  I told him, “I would love the business, but are you aware of what is going on right now?”  I went over all these statistics with him and further explained that you should probably hold off to see what happens over the next 1 – 2 years.  He agreed. 

I perfectly talked myself out of a big deal. 

Now, if you are like most people and you are going to finance the property, now is probably a great time to buy due to all-time historic low rates.  There is no guarantee that rates are going to remain this low, if/when property values come down some more over the next 1-2 years.  So, I rather take the guarantee and have all-time record low rates and know that as long as I own the home for at least 7 years, it is going to be worth more than what I paid for it.  That’s my personal investment philosophy.

Also, the State of California and the Federal Government have added a few more incentives (up to $8k in tax credits) recently.  If you are a 1^st time homebuyer (or you haven’t owned a home in the last 3 years), the Federal Government is giving you a $8k tax credit (that does not need to be repaid).  I am hearing that they are going to extend this credit another 12 months. 

Finally, some better news in Real Estate - the Pending home sales index based on purchase contracts signed in March rose 3.2% as 1^st time buyers waded into the market to take advantage of favorable prices and all-time historic low interest rates - http://www.nytimes.com/2009/05/05/business/economy/05econ.html  

The last few months we are seeing multiple offers on properties & the lenders have millions of properties (REO’s) that are just sitting there vacant.  We call that “Shadow Inventory”.  My guess is that we have enough REO’s to last us the next 5-7 years.  Hold on to your lug nuts because Mr. Toad’s wild ride is just taking off.

 My Brother & I are buying cash flowing Short Sales in Palmdale & Lancaster right now.

Frederick Solomon, Jr.

Real Estate Education & Financial Coaching

(949) 222-0240, ext 221  /  Cell:  (714) 403-7334

(866) 421-1697 - fax

Listen to us every Saturday from 1p - 2p on the Angels and Mighty Ducks station - AM 830 or online - am830.net

 Current Rates today are 4.625% for .75 points + approximately $3k in closing costs on 14 day pricing up to $417,000

 Current Rates today are 4.625% for 1 point + approximately $3k in closing costs on 35 day pricing up to $417,000

 Current Rates today are 4.875% for 0 points + approximately $3k in closing costs on 14 day pricing up to $417,000

 Current Rates today are 4.875% for 0 points + approximately $3k in closing costs on 35 day pricing up to $417,000

 Current Rates today are 5.25% for absolutely 0 Cost on 35 day pricing (minimum loan amount is $300k) up to $417,000

The rates today for a zero cost loan are 5.25% on a 30 year fixed for a $300,000 loan (the new conforming jumbo limit is $729,750.

Please be aware, lower rates are always available by paying points, fees/closing costs – WHICH WE DO OFFER.  The question is, does it make sense to pay those closing costs & get those lower rates?  We can show you the break-even point & then you decide.  We offer both!

 Yes, we have the same rates as the signs on the sides of the freeways, but please understand that it is going to cost you, to get those rates with anyone you go to.

 With our program, if the rate drops, we can refinance you again at no cost to the lower rate 

 I can be reached at 949-222-0240 & thanks for being part of the SFM Network.  We stand behind our match & beat guarantee no matter who you deal with as long as you get a good faith estimate in writing.

 ________________________________________________________________________________________

Get on the Foreclosure, REO, & Short Sale Bus – FREE!!

We are headed to Palmdale & Lancaster this time.  The last time we went to Bakersfield.  We are setting up a limited partnership to buy properties in these areas that are cash flowing $400-$700/month positive cash flow per property on a 15 year fixed mortgage.

Bakersfield/Palmdale/Lancaster – $65k purchase price – 25% down - $16,250 + $10,000 - $15,000 (fix up – estimated high) & $4,500 for closing costs – the total monthly cash flow is $421.46 – $5,054/yr & then you divide that by your down payment of $16,250  (the money out of your pocket it took to close the deal) + minimal fix up costs (maybe $10k-$15k for new tile, paint, etc.) + $4,500 in closing costs for a total of $35,750 in total costs out of pocket - & your rate of return on your money (we call it the cash on cash return – in other words, if you put the $ in the bank the rate of return the bank would be paying you) In this case it is 14.14% on a 15 year fixed mortgage.  If you pay down the principal with your cash flow of $421.46 (conservatively – rents are about $200 higher/month), you would have the property paid off in 70 months (which is 5 years & 10 months).  That is incredible.  You are purchasing these properties at 50% of their replacement cost which means if the property was to burn to the ground the day after you buy it, it would cost you double to rebuild it.  The cost to build is about $100-$125 sq ft. & we are getting these things for under $60 sq ft. in C+/B- neighborhoods!

ThereR17;s a perfect storm right now – ALL-TIME Record Low Interest Rates & property values that have dropped over 50%-75% in the last 2 years.

Also, if we represent you, we are offering 20% of our Total Real Estate Commission.  So, if you buy a $500,000 & we get a 3% commission (which is $15,000), we will give you 20% of that, which is $3,000, just for using Solomon Financial Mortgage & Realty.

Frederick Solomon, Jr. and Team

Real Estate Education & Financial Coaching

Serving California and 40 states: (800) 811-7709

Listen to us every Saturday from 12p - 1p on the Angels and Mighty Ducks station - AM 830 or online - am830.net

Newport Beach, CA 8/26/2009 09:52 PM GMT (TransWorldNews)

Fred Solomon of Solomon Financial urges every homeowner to learn about your most precious asset: your home. For example, is 6% interest plus 1 point better -- Is this better than 6.26 % and no points? Or 5.5% and 3 points?  

To avoid confusion, tell lenders you want par pricing.  That’s the full interest rate and no points.  Between par pricing and the annual percentage rate or the APR rate it’s easy to tell which loan costs less and which doesn’t.  This will allow you to compare interest rates just like the pros.

Make sure you are working with an experienced, professional loan officer.  The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way.  But how can you tell?  Here are SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY.  IF THEY DO NOT KNOW THE ANSWERS…RUN…DON’T WALK… RUN…TO A LENDER THAT DOES!  Avoid a loan officer/consultant who cannot answer these important questions:

1. What are mortgage interest rates based on?  (The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions.  DO NOT work with a lender who has their eyes on the wrong indicators.)  
2. What is the next Economic Report or event that could cause interest rate movement?  (A professional lender will have this at their fingertips.)
3. When Bernanke and the Fed “change rates”, what does this mean… and what impact does this have on mortgage interest rates?  (The answer may surprise you.  When the Fed makes a move, they can change a rate called the “Fed Funds Rate” or “Discount Rate”.  These are both very short- term rates that impact credit cards, Home Equity credit lines, auto loans and the like.  On the day of the Fed move, Mortgage rates most often will actually move in the opposite direction as the Fed change.  This is due to the dynamics within the financial markets in response to inflation.    
4. Do you have access to live, real time, mortgage bond quotes?  (If a lender cannot explain how Mortgage Bonds and interest rates are moving in real time and warn you in advance of a costly intra-day price change, you are talking with someone who is still reading yesterday’s newspaper, and probably not a professional with whom to entrust your home mortgage financing.  Would you work with a stockbroker who is only able to grab yesterday’s paper to tell you how a stock traded yesterday, but had no idea what the movement looks like at the present time and what market conditions could cause changes in the near future?  No way!)
5. Avoid someone who does not let you ask questions and get proper answers.  Be smart...  Ask questions…  Get answers.  Once you are satisfied that you are working with a top-quality professional mortgage advisor, here are the rules and secrets you must know to “shop” effectively.
6. Avoid the “TOO GOOD TO BE TRUE” scam.  If it seems too good to be true, it probably is.  But you didn’t really need us to tell you that, did you?  Mortgage money and interest rates all come from the same places, and if something sounds really unbelievable, better ask a few more questions and find the hook.  Is there a pre-payment penalty?  If the rate seems incredible, are there extra fees?  What is the length of the lock-in?  If fees are discounted, is it built into a higher interest rate? Again, this is our business and we follow the market daily and GUARANTEE  the best wholesale rates in the country.  If someone tells you a gallon of gas is $1, would you believe that?  There is still so much misinformation out there. 
7. Avoid bait and switch techniques.  YOU GET WHAT YOU PAY FOR.  If you are looking for the cheapest deal out there, understand that you are placing a hugely important process into the hands of the lowest bidder.  Best case, expect very little advice, experience and personal service.  Worst case, expect that you may not close at all.  All too often, you don’t know until it’s too late that cheapest isn’t BEST.  But if you want the cheapest quote – head on out to the Internet, and we wish you good luck.  Just remember that if you’ve heard any horror stories from family members, friends or co-workers about missed closing dates, or big surprise changes at the last minute on interest rate or costs…these are often due to working with discount or internet lenders who may have a serious lack of experience.  Most importantly, remember that the cheapest rate on the wrong strategy can cost you thousands more in the long run.  This is the largest financial transaction most people will make in their lifetime.  That being said – we are very competitive.  Of course our rates and costs are very competitive, but we have also invested in the systems and team we need to ensure the top quality experience that you deserve. 
8. Avoid incorrect comparisons. Not all loans are the same.  NOT MAKING CORRECT COMPARISONS CAN HURT YOU.  When looking at estimates, don’t simply look at the bottom line.  You absolutely must compare lender fees to lender fees, as these are the only ones that the lender controls.  And make sure lender fees are not “hidden” down amongst the title or state fees. A lender is responsible for quoting other fees involved with a mortgage loan, but since they are third party fees – they are often under-quoted up front by a lender to make their bottom line appear lower, since they know that many consumers are not educated to NOT simply look at the bottom line!  APR?  Easily manipulated as well, and worthless as a tool of comparison.
9. Not understanding that INTEREST RATES AND CLOSING COSTS GO HAND IN HAND.  This means that you can have any interest rate that you want – but you may pay more in costs if the rate is lower than the norm.  On the other hand, you can pay discounted fees, reduced fees, or even no fees at all – but understand that this comes at the expense of a higher interest rate.  Either of these balances might be right for you, or perhaps somewhere in between.  It all depends on what your financial goals are.  A professional lender will be able to offer the best advice and options in terms of the balance between interest rate and closing costs that correctly fits your personal goals.
10. UNDERSTAND THAT INTEREST RATES CAN CHANGE DAILY, EVEN HOURLY.  This means that if you are comparing lender rates and fees – this is a moving target on an hourly basis.  For example, if you have two lenders that you just can’t decide between and want a quote from each – you must get this quote at the exact same time on the exact same day with the exact same terms or it will not be an accurate comparison.  You also must know the length of the lock you are looking for, since longer rate locks typically have slightly higher rates.

"Again, our advice to you is to be smart.  Ask questions.  Get answers.  We are happy to teach you.   It’s your home and your future.  It’s our profession and our passion.  We're ready to work for your best interest.  One of the main reasons we broadcast our show, The Solomon FREE Money Hour is to make sure that you join our other success stories and become an educated and informed consumer," adds Solomon.

For more information, or to contact Solomon call (800) 811-7709.  info@sfmdirect.com
www.freemoneyhour.com

We will show you how to analyze the deal - figure out the cash on cash return - show you some incredible opportunities at 50% of the replacement cost in Southern California. 

 "Never in history have I seen such an opportunity," says Solomon. 

FREE Pass for 1^st time Attendees only (otherwise normally $18)

By RSVP only, go to freemoneyhour.com & click on Ask Fred - see you there.

Solomon Financial Mortgage

Source: www.freemoneyhour.com

SATURDAY AUGUST 29th from 2 to 4 pm in Newport Beach or Live Online “ http://freemoneyhour.com/webinar14.php - our seminars & our live interactive video conferencing events are located all over Southern California & parts of Northern California & always live via the internet.

The biggest problem we are seeing today in our office is that people are not able to qualify for loans & they are not able to afford their monthly mortgage payment/s. These people are facing foreclosure & need to know their best options. Sometimes, we need to do some credit card debt settlement or payment plans. Sometimes, we need to file Bankruptcy. Sometimes, we need to do a Forbearance Agreement with the lender while the homeowner looks for another job. So many different things & everyone's situations are different. 

After doing numerous workshops with the Chief Loss Mitigator of IndyMac Bank (Home Equity Line of Credit Division) & learning the formula the lenders use to determine whether someone qualifies for a loan modification or not, I have found that many loan modification companies do not know what they are doing when it comes to qualifying you, but they are still taking your money from you. They are telling you to stop making your monthly mortgage payment (as well as the actual lenders, not knowing if you qualify or not for a loan modification & telling you that is the only way the bank will modify your loan). THAT IS 100% FALSE! So, you listen to them thinking that they know what they are talking about and then you find out that you are unable to qualify for a loan modification & now your credit is ruined because you stopped making your payment and on top of that your mortgage payment has not changed. That is a bunch of BS! And, BS is not a swear word! It simply means Before Solomon. Because when you speak to us, we will send you a Borrower Financial Information page and determine upfront if you qualify or not, FOR FREE! Often times I am re-programming people & having to input correct information into their brains. We get loan modifications approved all the time without the clients being delinquent on their mortgage. Let me repeat, we get loan modifications approved all the time without the clients being delinquent on their mortgage. I have client after client that you can call to verify this with. 

I was speaking at a CAMB (California Association of Mortgage Brokers) Event recently and Channel 11 news was there. I explained this to the audience that the lenders use a formula & no one knew what this formula was prior to March of 2009 (this was before Obama's plan came out in early March) and I explained to the audience that is why loan modification companies are ending up on the News (for the wrong reasons) because that they don't know the lender's formula. The day of the event I explained, "Channel 11 news is here because the DRE is here & so is CAMB. We are here to teach you correct info."

You want correct information? I can't hear you? I said do you want correct information about how to qualify for a loan modification? Much better! So, here it is..... In order to qualify for a loan modification your expenses need to be within $200/$400 of your take home pay (some lenders like a surplus, some are ok with a $200/$400 deficit). Your loan to value has to be 75% or higher on your property and you can't have a lot of assets in your name (i.e. 401k, IRA, Stocks Bonds, Mutual Funds, or money in the bank). If you do, the lender may challenge you to take money out of your 401k to pay your mortgage. At that point, you may have to talk to a good Asset Protection or BK Attorney to know your correct options so the bank doesn't come after your other personal assets (if any). In the last 2 years, I have learned more about bankruptcy laws, foreclosure laws, deficiency judgments, 1099-c's, forgiveness of debt, & lien releases on short sales than I ever wanted to. But, this is where the market took us. It started about 2 years ago, people started calling our offices wanting to know about refinancing and then they realized they couldn't because (1) the rates were too high, (2) they couldn't qualify because the property value came down, (3) they were a stated income borrower, or (4) their credit scores were too low. Many times people call me up & they tell me that their listing agent is telling them to do a short sale not realizing the client has refinanced and pulled out 700k of equity (since they bought the home) and will have a large tax issue because the capital gain was above the $500k married couple limit & they will have to pay tax on that. The listing agents need to be smarter on these short sales & tell their clients to talk to their CPA (especially if it is a Rental Property or if the loan wasn't purchase money on your primary residence or if there is going to be a Capital Gain above $500k - married or $250k - single). Since my father is a CPA, I am happy to pass this info along to you. Thank goodness for smart people. Here is my warning to you - know your options and learn about the tax consequences, before you make any wrong decisions! I can refer you to some people who can help you in these areas. 

Oh, and by the way, the lenders will lie to you and use scare tactics. The reason they do this is because they don't want to lose money. The analogy I give is if you were a police officer & pulling someone over & you felt there was something "fishy" going on with the person you are pulling over. So you ask for their license & registration and then ask if you may search their vehicle. But before you actually search the vehicle you ask if there is anything inside the car that you (the police officer) need to be concerned with. My question to you is, what percentage of people that do actually have "stuff" in their car, are honest with the police officer at that moment in time? In other words, does the person inside the car say, "Oh yeah, I have a loaded AK-47 with 2,000 rounds of ammunition in the trunk?" Whatever that percentage of people that would be honest with the police officer upfront (before they search the vehicle), is the same percentage of people that the lender would be honest with you when you call them to ask them to lower your monthly mortgage payment. Just like the guy with "stuff" in his car doesn't want to go to jail, the lender doesn't want to lose money on your account. So, how do you deal with someone who is lying to you? The only way I know is if you have a friend that works in the Home Retention or Loss Mitigation Dept or if you go work there yourself.

Besides that, I don't know what to tell you except to come to our next seminar & I will teach you - http://www.freemoneyhour.com/webinar14.php

If you or someone you know can benefit from this info, let them know about
our workshops or give them our phone # - 949-222-0240.

Solomon Financial Mortgage
Frederick Solomon, Jr.
Real Estate Education & Financial Coaching
Better Business Bureau AAA Rated

Fred Solomon, Lisa Solomon and Team:
Listen to us on AM 830, The Angels & Mighty Ducks Station, Saturdays 12-1 pm (new time) PST or listen to archived shows on: Solomon Site

Frederick Solomon, Jr.
Real Estate Education & Financial Coaching
(949) 222-0240, ext 221 / Cell: (714) 403-7334
(866) 421-1697 - fax

Listen to us every Saturday from 12p - 1p on the Angels and Mighty Ducks station - AM 830 or online - am830.net

Our Upcoming Loan Modification Workshops - How to determine if you qualify & how much we can save you on your mortgage payment each month - http://www.freemoneyhour.com/webinar14.php

Our Upcoming FREE Foreclosure Workshops - How to find them & buy them - for a upcoming workshop in your area - http://www.freemoneyhour.com/webinar15.php

Our Most Recent Radio Shows & Blog - http://thesolomonfreemoneyhour.typepad.com/sfmh1

Why is Fred and Lisa Solomon on a cat show?  Radio and TV host Kerri Kasem rarely goes anywhre without her cat, Kid D.  "Kerri loves her cat no less than a mother loves her child, so I said, bring him to the Angels AM 830 Studio and let's get Kid D exposed to some real estate jargon," says Lisa Solomon.

To read the Daily News article on Kerri Kasem and her kitty, go to: http://www.facebook.com/ext/share.php?sid=88115543807&h=Aak_t&u=OocI5&ref=mf 

The time is now to profit with foreclosures!!! A "Perfect Storm" of economic events has made investing in California foreclosure properties an incredible opportunity -- and now's the time for you to profit...

With a deep recession, mortgage crisis, adjustable rate mortgages re-setting, balloon payments coming to term, borrowers losing equity in their homes, a home market turned upside down by recent events, and a tidal wave of foreclosure filings, there are literally thousands of foreclsoures, short sales, REOs, and under-valued properties in Southern California --many in your area--ready to be purchased far below market value.

Join us for this free two-hour foreclosure workshop that will change your life. Led by Lloyd Segal & Fred Solomon. Lloyd is known as "California's Leading Foreclosure Expert," and author of "Stop Foreclosure Now" (recipient of 2008 Award for best personal finance book by USA Book News), and "Stop Foreclosure Now in California."

The live workshops are conducted throughout California at various locations. If you'd like to register, please input your info below for the next free workshop in your city.

According to Retran foreclosure services, foreclosure filings surged in 2008, and are now exploding in 2009, as California (the state that once enjoyed a white-hot housing market) is now seeing the greatest number of loan defaults and foreclosures in the state's history.

The current rise in foreclosures is an incredible opportunity for you to achieve the privileged life you've always dreamed about not years from now, but months from now. Lloyd's Foreclosure training will reveal the specific foreclosure investing strategies and techniques that have been used again and again by foreclosure investors to purchase these properties substantially below market.

Learn how to find great deals. Take advantage of the tidal wave of foreclosures. This is a once in a lifetime opportunity to profit with the dramatic downturn in the real estate market. There are thousands of properties and distressed homeowners in your area, and they need your help! Attend the next free workshop in your city and expand your knowledge, increase your wealth, and create your own "retirement plan."

At this exciting free workshop, you will learn:

1. California's non-judicial foreclosure procedures.
2. How to find foreclosure properties.
3. How to contact homeowners in foreclosure.
4. What to say (and not say) to these distressed homeowners.
5. How to structure the deal (and create a win/win situation).
6. How to purchase properties without your own money or credit.
7. How to buy "short sales."
8. How to buy at trustee's sales.
9. How to buy REOs from the lenders.
10. Stay in compliance with California foreclosure laws.

To join, choose from one of the following classes. http://www.freemoneyhour.com/webinar15.php

The maximum conforming limit has been increased to $729,750 until the end of 2009.  Now, there are there are loan amount restrictions based on where you live. To see, what the maximum conforming limit is in your area, feel free to email us at info@sfmdirect.com

Home sale activity increases during the summer months and decreases during the winter months.  Using this information, the best time to sell would be during the summer and the best time to buy would be during the winter.  How many people do you know are looking to purchase homes on Christmas Day?   However, with the housing crisis still unfolding, there may be hesitation to buy.  In our book  Put Your Money Where Your House Is: The Definitive Guide to Smart Real Estate Investing, several chapters are dedicated to buying and financing your home and What Determines Home Prices. 

People often say to me, “Since mortgage rates are at all-time historic lows, how can I pass up this buying opportunity?” At our workshops, I ask: “By a show of hands, how many people think it is a good time to buy right now?”  The answer consistently points to 99 percent of the people raising their hand.  In fact, I am actually seeking out people who don’t have their hand raised to ask them why they don’t think it is a good time to buy.  

Then, I start explaining some compelling statistics like:

• In 2008 we had 2.6 million homes go into foreclosure.  
• Currently, 3% of the 120,000,000 US homes (3.6 million) are in foreclosure and another 8% (9.6 million) are at least 60 days late.  
• The loan business is an $11.8 Trillion business.  
• According to a recent 60 minutes special, they are predicting $2.6 Trillion of the $11.8 Trillion of loans to go into default by 2011, which is 22% of all outstanding loans in the US.  
• We are in the 4th or 5th inning of a 9 inning baseball game as CBS 60 Minutes Reports at: http://www.cbsnews.com/stories/2008/12/12/60minutes/main4666112.shtml

Now, after explaining all these statistics, the next question I ask is, “Out of the people who just raised their hands, how many people think property values are going down with all these foreclosures we have now and the ones that are coming?”  What percentages of people raise their hand?  All of them.   I reply, “You all are telling me that it is a good time to buy, but real estate prices are go ing to drop? If a foreclosure closes in your neighborhood, what happens to the value of your property, up or down?” 

Now, another important question I ask is, “How many people want to buy a stock if you know the stock price is going to go down in value after you buy it?”    So here is my point and the difference between real estate and stocks.  When people buy stocks/mutual funds they pay cash for the entire amount.  When people buy real estate, a very large percentage of people finance the transaction.   The moral to the story:  If you are paying cash, you might want to wait to see what happens with property values over the next 12 – 24 months.    Recently, we had a bank account faxed over to the office with about $35 million in it.  My client, John Doe (for confidentiality purposes I am using a fictitious name.)  John wanted to buy some foreclosures and REO’s (Real Estate Owned meaning bank owned properties).  I asked John this question, “How are you going to pay for the properties?”  John’s response was, “With cash.”  I replied, “I would love the business, but are you aware of what is going on right now?”  I went over all these statistics with him and further explained that you should probably hold off to see what happens over the next 1 – 2 years.  He agreed.   I perfectly talked myself out of a big transaction because this client had a lot of cash versus the concept of OPM (other people’s money, i.e. loans).  

OPM Concept and Why It Makes Sense to Buy Today:  If you are like most people and you are going to finance the property, now is probably a great time to buy due to all-time historic low rates and the incredible financing Solomon Financial can get for you.  There is no guarantee that rates are going to remain this low, if/when property values come down some more over the next 1-2 years.  So, you rather take the guarantee and have all-time record low rates and know that as long as you own the home for at least 7 years (from my chapter called Own Your Home for 7 Years in Put Your Money Where Your House Is), it is going to be worth more than what you paid for it.  That’s my personal investment philosophy and what my family has done who are also real estate investors.

The State of California and the Federal Government are doing whatever they can to help ignite the ailing Real Estate market and have added a few more incentives (up to $18k in tax credits) recently.

Ø  If you buy a newly constructed home in the State of California, the 1st 10,000 people ($100 million allotted to this program) get a $10k tax credit.  If you are a 1st time homebuyer (or you haven’t owned a home in the last 3 years), the Federal Government is also giving a $8k tax credit as well.  So, you could qualify for up to $18k of tax credits in California if you are a 1st time homebuyer and are purchasing a brand new home.  

Ø  Finally, some better news in Real Estate - the Pending home sales index based on purchase contracts signed in March rose 3.2% as first-time buyers waded into the market to take advantage of favorable prices and all-time historic low interest rates. Read the New York Times Story on Existing Home Sales Rise for a Second Month: http://www.nytimes.com/2009/05/05/business/economy/05econ.html   

 Additionally, if you want to know if you qualify for Government tax credits by purchasing a new home in California or qualify as a first-time home buyer and get up to $18,000 in tax credits, the timing could not be any better.

Oh, By The Way... If you know of someone thinking of purchasing, refinancing, prequalifying, divorcing and needing loan options, 1031 Exchange, Investing Using Your IRA,  lowering their rate through a federal loan modification, buying foreclosures (FHA loans) or short sales, or attending my networking, real estate/loan industry training bootcamps, please let me know. We’ll be happy to follow up and take great care of them.

I promise that I will be there for you, your family, your friends and your associates by offering you more than any other mortgage and real estate professional will give you.  THIS IS MY CONTINUED PLEDGE. If you need anything before you hear from me, please call me or my team at (888) 305-1408. 

 Leading the way to help our clients, buyers, sellers, investors and Realtors® make smart, informed decisions.

The Solomon Free Money Hour Investment Talk Radio with Kerri Kasem now airs live every Saturday on Angels AM 830.

Network with us; come onto our radio show as a guest. For more info, e-mail lisa@sfmdirect.com

The maximum conforming limit has been increased to $729,750 until the end of 2009.  Now, there are there are loan amount restrictions based on where you live. To see, what the maximum conforming limit is in your area, feel free to email us at info@sfmdirect.com

Home sale activity increases during the summer months and decreases during the winter months.  Using this information, the best time to sell would be during the summer and the best time to buy would be during the winter.  How many people do you know are looking to purchase homes on Christmas Day?   However, with the housing crisis still unfolding, there may be hesitation to buy.  In our book  Put Your Money Where Your House Is: The Definitive Guide to Smart Real Estate Investing, several chapters are dedicated to buying and financing your home and What Determines Home Prices. 

People often say to me, “Since mortgage rates are at all-time historic lows, how can I pass up this buying opportunity?” At our workshops, I ask: “By a show of hands, how many people think it is a good time to buy right now?”  The answer consistently points to 99 percent of the people raising their hand.  In fact, I am actually seeking out people who don’t have their hand raised to ask them why they don’t think it is a good time to buy.  

Then, I start explaining some compelling statistics like:

• In 2008 we had 2.6 million homes go into foreclosure.  
• Currently, 3% of the 120,000,000 US homes (3.6 million) are in foreclosure and another 8% (9.6 million) are at least 60 days late.  
• The loan business is an $11.8 Trillion business.  
• According to a recent 60 minutes special, they are predicting $2.6 Trillion of the $11.8 Trillion of loans to go into default by 2011, which is 22% of all outstanding loans in the US.  
• We are in the 4th or 5th inning of a 9 inning baseball game as CBS 60 Minutes Reports at: http://www.cbsnews.com/stories/2008/12/12/60minutes/main4666112.shtml

David Solomon will discuss many different tax incentives that are available. Often times people are not taking all their deductions and they do not even know it. Knowledge is power. David Solomon says, “When we review people’s tax returns, the amount of potential tax deductions people are leaving on the table can be eye opening -- especially, when you are talking about large companies.”   “A lot of people don’t know that you can purchase real estate with the funds from your IRA,” adds Solomon. 

There are many tax hiring benefits that people do not know about in California.  A lot of real estate investors do not know how they can benefit by accelerating the depreciation on their improvements (on investment property), and how by owning investment property can benefit you and what “chattel” means. 

Additional tax benefits are the GO Zone bonus depreciation where you can take a 50% first year bonus depreciation of the improvement – the cost of the structure (if you qualify), as well as other ways to reduce your taxes by Incorporating.

You can listen live anywhere in the world to the tax deduction discussion on The Solomon Free Money Hour at Solomon Financial's site, call in during the show live to get your questions answered or e-mail info@sfmdirect.com. For additional information, contact Solomon Financial: 800-811-7709.
www.freemoneyhour.com/the_solomon_free_money_hour.php

Interest rates remain at historical all time lows.  Fred Solomon gave an updated real estate and economy report. Solomon says, "Lock in today into a 30 year or 15 year fixed rate. This may be the last time you ever have to refinance again."  For a free consultation or good faith estimate review, go to http://www.freemoneyhour.com/loancost.php

How to Get an Affordable Mortgage Today
“How do you know when you qualify for a Obama 105% refinance or a loan modification?“ asks Fred Solomon, author, broker and radio show co-host of the Solomon Free Money Hour.  In order to qualify for Obama’s new 105% refinance plan your loan to value cannot be any higher than 105% LTV (loan to value).  In other words, if the value of your home is $400,000, your loan cannot be any higher than $420,000 (5% higher than the current market value)" adds Solomon.

Solomon Financial is now able to offer the 105% refinance to homeowners.  It is imperative to state that interest rates are at all-time historic record lows, lenders are laying people off, and foreclosures are at all-time record highs.  "What does this mean for you and me?  The best anology I can give you is, 'It is a beautiful summer day at Disneyland and they are having a huge 50% discount on ticket prices, and they just laid off half of their employees.  It’s going to take awhile.  Furthermore, there are a lot of things we need to check in order to see if you can qualify for this program before you get too excited.  You can’t have any lates on your mortgage.  It has to be a Fannie Mae or Freddie Mac loan and a few other things we will have to look up.'" says Solomon.

If you do not happen to qualify for the Obama 105% refi plan, be prepared to be lied to and listen to the lender's scare tactics.  This is a $75 billion bailout geared towards refinancing / loan modification.  The additional questions we will help you with are: How do you know how to figure out a 31% front end ratio?  How do you figure out if the lender is lying to you or not?  How do you negotiate with someone who is lying straight to your ear?  I guarantee that if you call the lender yourself, the lender will lie to you.  People don't want to believe that. 

Channel 11, in conjunction with Solomon, is doing a huge story on clients who got taken advantage of. "We have example after example of clients who were lied to," reports Solomon.   Solomon Financial Team has dissected the Obama Plan to develop a special software program that lets you input your numbers to determine your qualification for a home loan refinance or federal loan modification.  This unique formula combined with an exclusive calculator determines if you qualify.  "It takes us five minutes to figure out if you will qualify or not," adds Solomon.  For  more information, or to see if you are eligible, go to: http://www.freemoneyhour.com/loancost.php  for a free consultation.

“My office took this new Obama plan and we have dissected it for you.  The first thing we look at is to see whether you qualify for a regular refinance or not.  If not, we look at the new Obama refinance plan up to 105% loan to value.  If you are too far upside down, then we look to see if you qualify for a loan modification or not,” adds Solomon.  For a free consultation to see if you are eligible for a refinance, purchase loan, or Federal loan modification by a Solomon Financial loan advisor, call: (800) 811-7709.

¨ Learn your options and how to get help

¨ Learn how to potentially reduce your principal balance based on the new Obama Plan. Learn options to Foreclosure.  When faced with such a serious financial problem that you have to file for bankruptcy, perhaps the smartest and safest thing to do would be to let a professional guide you through the rough waters. Ask questions until you get clear, concise answers. We are here to help you. Tune in or call us today.   

Kenny Golde, has written:

The Do It Yourself Bailout, available on http://www.settleyourcreditcards.com/

Take advantage of all-time record historic low interest rates.  "I locked into all-time historic low rate and I have a first-place trophy to prove it. That is the analogy we are telling our clients, who are flooding our offices with phone calls to lock into these historical low interest rates," says Fred Solomon,  author of Put Your Money Where Your House is and broker of Solomon Financial. Mortgage bankers will have more confidence and buy bigger commitments and be confident when selling their loans in the secondary market. Thus, interest rates are down huge - mid 4's on a 30 year fixed up to $417,000.