Buffett Investment News/Fact |
| Did you know that if you invested $10,000 with Warren Buffett in 1965 your investment would be worth roughly around $80 million today. |
Mortgage Loan Mods Gaining Traction? |
Making Home Affordable Program (HAMP) is "gaining traction" based on figures released by the Treasury Department and HUD. As of the end of January, over 116,000 permanent loan modifications had been signed, nearly double the 66,000 reported at the end of December, and an additional 76,000 had been extended permanent modification offers but had not yet returned the paperwork. 830,000 borrowers are still in some stage of the required three month trial period required by the program guidelines. Mortgage News Daily pointed out, however, that over 57% of loan modifications have been borrowers who are out of work or are underemployed. If those borrowers are unable to get work, those loans might end up defaulting anyway. |
Real Estate Deals to be Had in a Number of Cities in the US |
Here is a list of the most undervalued and overvalued cities in the US. Some cities are undervalued by over 30%. Can you say good investment? These cities a prime candidates for investors looking to utilize their 401K and IRA accounts and purchase investment property. Here is the list below: http://money.cnn.com/real_estate/storysupplement/overvalued_cities/ |
Foreclosure Sales Dominating the Market |
| Foreclosure resales accounted for 20.3% of all US home sales in December, lead by Merced, Calif., where foreclosure resales took a 68.3% share of the market, Las Vegas (64%), and the Modesto, Calif. (62%). |
Fannie, Freddie to Step Up Buying of Bad Loans |
| Fannie Mae and Fredie Mac said they will ramp up their purchases of some $200 Billion in Delinquent homes loans that the two government-controlled mortgage finance companies have guaranteed. Delinquent loans are said to be consider all loans over 120 days (4 months) late. This ramp up is supposed to begin sometime between March and April of this year. |
Bankers Making Millions if You Lose Your Home.... |
| The problem has been that banks have been stalling on these mortgage modifications and in most cases even unjustly declining them. This video may be the best indicator why. Even though the video focuses on IndyMac, the FDIC, and OneWest Bank, one the public catches wind of this, both mortgage bankers and bankers will have more explaining to do: http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1076783 For those who don't feel like taking notes, it is a study on the sweetheart deal they cut, complete with an example of a bad $478,200 loan with six months of missed payments purchased at 70% for $334,600. The borrower is forced into a short sale on the property at $241,000, so the loss on the original loan is $244,200. To continue click here http://www.brooklyntroy.com/index.php/blog/Forget-Loan-Mods-Banks-Making-Millions-off-Americans-Losing-Their-Homes.html |
NYC Real Estate Has Bottomed Out |
Fourth-quarter numbers reveal six New York City neighborhoods where prices may have bottomed out. New York Magazine recently reported on data from StreetEasy that six neighborhoods in Manhattan saw some price stabilization in the fourth quarter of 2009.
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Bernanke annouces Feds Plan to Raise Interest Rates |
| Federal Reserve Chairman Ben Bernanke will begin to lay out the blueprint for a credit tightening. Of course this will be several months away but the effects would invariably lead to an interest rate hike. The would affect everything from mortgage rates to short-term borrowings. Most importantly this should be something to think about when deciding your time lines on your investment property purchases. |
2010 Roth Conversion Opportunity |
By now you are probably aware of the new rule permitting conversion from a traditional IRA to a Roth IRA, regardless of your income or tax-filing status. This ruling, effective January 1st, 2010, also allows you to spread the tax impact of the conversion over three years-skipping 2010 altogether and splitting the tax between the 2011 and 2012 tax years. This combination of incentives is encouraging a lot of IRA owners to convert to Roth IRAs. Some other important things to know about Roth IRA conversions: http://selfdirectedira.com/?p=705 |
H&R Block settles nationwide IRA lawsuit: Cuomo |
H&R Block settled a nationwide lawsuit reported paying upwards of $20.2 million to settle a New York lawsuit accusing it of fraudulently marketing retirement accounts that caused hundreds of thousands of mostly lower-income clients to lose money. Read More here: http://www.reuters.com/article/idUSTRE6033AL20100104
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1 in 3 homes in Caifornia is underwater |
| Although this is extremely unfortunate this also creates endless amounts of opportunity for the savvy real estate investors to increase and improve their retirement accounts. |
IRS Announces 2010 New Contribution and Income Limits for Retirement Accounts |
| For the most part the 2010 Contribution remained unchanged from the 2009 limits. Many people were afraid that they may decrease because of the speculation that the IRS would have to make an adjustment to deal with the negative Cost of Living Adjustment (COLA), something that has not occurred since the inception of IRA's. Thankfully the only account that will see a change is the Health Savings Account (HSA), which saw an increased contribution limit. |
The Average 401k Lost 30.5% Last Year |
| This confirms that even patient long term investors still got hammered last year. The good news is investors have started to really realize the need to diversify their investments. What have you done to make that loss up? It is time to take control of your retirement with a self-directed IRA. Call today to see if a 401k Rollover is the right thing for you. |
2 days Left to Save on Taxes on your Roth Accounts |
| Remember you only have until October 15th to re-characterize you roth conversions from 2008. This could save you a lot of money on your roth conversion taxes. For more information click here. |
Employers Eliminating Retirement Matching |
| A recent survey shows that the number of employers who are matching 401k deposits have dropped 29%. Some of the most notable being JP Morgan Chase, AARP, Rockwell Automation. Maybe now is a good time to reevaluate some of your retirement investment strategies. |
Discounted Performing Notes |
| We have now obtained direct access to performing and non-performing notes. These notes are primarily all 30 year fixed terms and are for the most part performing. The notes are all over the country just specify what areas you are interested in. Since we are acquiring large pools of these notes we are able to purchase them a huge discounts. Please contact our New York office directly, 917-477-7742, for more details or email us at info@brooklyntroy.com. |
Brooklyn Troy Acquiring Discounted Mortgage Notes |
| We are acquiring discounted loan notes all over the United States. They should be available for our investors later this month. Please email faisal@brooklyntroy.com for more information. |
Get Your Cash Flowing Rental Properties Now! |
| Brooklyn Troy has recently acquired a pool of cash flowing rental properties that will become available to our investors shortly. All properties are under $100k and are even available for financing using your IRA accounts. Call 718-395-7566 or email info@brooklyntroy.com for more details. |
New Investment, 108 Approved Lots Perris, Ca |
| Brooklyn Troy recently opened up investment on 108 approved lots, in the center of town of Perris, Ca. We expect that after a 3-5 year hold period we can obtain upwards of $30,000 per lot. This is a perfect opportunity to use your Self-Directed IRA to become one of our investors on this transaction. For more information please call us. |
10 Acres Nuevo Road Sold for 5 Times Original Purchase Price |
| Brooklyn Troy and Lansing Companies are pleased to announce the sale of 10 acres Nuevo Road, in Riverside County. The property was purchased six years ago, without debt, and was sold for 5 Times the original purchase price. That is an amazing return in any market. In this market we feel that this is an amazing accomplishment and is a testament to the dedication and hard work of our entire team! |
