NetCreditLine.com Daily Credit Line News

Power Finance Corp prices share sale at top to raise billion
Power Finance Corp replenishes its capital base by selling new shares, while the government divests a 5% stake.
Read more on Finance Asia

Aman wins World Finance award for the Best Takaful Provider 2011
“We are very proud to receive this award, given our constant efforts to offer excellence in service delivery. We have a number of programmes underway to ensure that we support the UAE’s national vision, and the ambitions of the global Islamic insurance industry.
Read more on Zawya

Nathans Finance fine before collapse says ex-director
Former Nathans Finance director Mervyn Doolan still claims the company’s financial positions was fine just months before it collapsed in August 2007, owing around 7000 investors $ 174 million.
Read more on Timaru Herald

Question by David H: Can credit bureaus report late payments after a sheriff sale?
I had a foreclosure back in 1/07. My credit report shows the foreclosure; however, is reporting late payment after the sheriff sale. It shows the final date of 11/07. Is there anything I can do?

Best answer:

Answer by Dark Green Money
The sheriff sale is all about ownership of the property.
It has little to do with the debt.

Unless the proceeds of the sheriff sale were enough to pay off the mortgage in full with every fee they tack on in addition, you’re still late.

Obviously the outstanding balance on the loan is lower, but it is still an outstanding debt.

Probably an exception is if your state does not allow for deficiency balances or if the judge ruled that they did not deserve one.

Give your answer to this question below!

Little Rock, AR (PRWEB) June 12, 2006

1-800-HOUSING LLC and all of its assets, including Web addresses, a phone number, application software and website, are for sale.

http://cgi.ebay.com/1-800-HOUSING-LLC-for-sale_W0QQitemZ250031622176QQihZ015QQcategoryZ11762QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

1-800-HOUSING LLC, headquartered in Little Rock, Ark., was founded in Houston in 1997, and its mission has been to match homebuyers with realtors and lenders. Dan Bernstein has been retained to represent 1-800-HOUSING LLC for the sale.

“Clearly, the company’s most valuable asset is the toll free 1-800-HOUSING (800-468-7464) vanity phone number,” says Bernstein. “My target buyer is a major realty-focused corporation with a significant advertising budget whose marketing mix includes TV, radio and billboards campaigns in the United States. It’s also feasible that the new owner of 1-800-HOUSING could be a smaller company that rents to local users in each area code. A couple hundred dollars per area code times 100 or more area codes would mean it would easily generate $ 100,000 a year, plus being an asset in your own territory for your own sales.”

Bill Quimby, author of “Phone Numbers that Make Money” and founder of www.tollfreenumbers.com says, “1-800-HOUSING is an instant brand name, and, like 1-800 FLOWERS, which sold for millions of dollars and has paid off big time, 1-800-HOUSING clearly has the potential to create an industry leader in an even bigger industry.”

The company’s core business assets for sale include:

    Phone number: toll free 1-800-HOUSING (800-468-7464)

    Web addresses: www.1800HOUSING.COM and other variations.

    A software application program developed for matching down payment and loan programs for any given borrower based on street address

    Website: www.1800HOUSING.com, artwork, copy and coding

    The company’s “goodwill,” created through years of operations and advertising throughout several southern states, including Texas, Arkansas and Arizona.

“The owner is working with a short time frame and is motivated to close for the right terms, preferring a private transaction to an internet-based auction,” Bernstein says. “As this is a simple transaction, we anticipate closing within 30 days, either way.”

Contact:

Dan Bernstein

501-255-5804

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Find More Housing Market Press Releases

Strategic Finance investors’ outlook grim as loan book sale stalls
Investors in failed financier Strategic Finance could get as little as 12 cents in the dollar out of their debenture stock after bids for the firm’s loan book fell short of expectations.Receivers John Fisk and Colin McCloy of…
Read more on The New Zealand Herald

G20 finance chiefs face tough task on currencies
GYEONGJU, South Korea — Global finance mandarins get another chance this week to defuse international currency tensions as a festering dispute over exchange rates overshadows debate about reforming the world economy.
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Charleston, SC (PRWEB) June 17, 2009

If you are considering buying or selling real estate in Charleston, SC, mark your calendars for a special free event sponsored by Charleston Your Home. With home prices declining, and more homeowners falling behind on their payments, “short sales” are hitting the Charleston, SC market more than ever before.

The Long and Short of It – The Anatomy of a Short Sale will be held on Tuesday, June 23, 2009 from 6:00-8:00 PM at The Carter Real Estate Center in the Wachovia Auditorium at 5 Liberty Street, Charleston, SC.

During this informative and topical seminar they’ll explore the in’s and out’s of the process including: What, really, is a short sale? How do they work? And is a short sale right for me?

The seminar features a distinguished panel of specialists that include:

    Harry B. Smith – Bank of America
    Mark Weeks – Weeks, Foti & Irvine LLC
    Derrick Potts – Welch, Roberts, Amburn
    Tammie Hoy – Executive Director of the Lowcountry Housing Trust
    Debbie Kidd – Housing Director of Home Ownership Resource Center a division of Family Services.

“Now more than ever there is a need for affordably priced housing with increasing job loss and many families losing their homes to foreclosure, housing affordability for the first time in almost ten years is top of mind. Elected officials, policy makers, business leaders and concerned citizens should seriously take a look at how this “New housing economy” is impacting and will impact our economic and social future in the Lowcountry,” said Hoy.

“REALTORS® are in a position to help people avoid foreclosure, and can be a great catalyst for the recovery of this housing crisis. This is a market for the real estate agent that can think creatively and utilize all resources available to get the deals closed” stated Diane Szoke & Carolyn Dubrofsky co-owners of Charleston Your Home and lead sponsor of the event.

Short Sales, often known in lending circles as a ‘discounted payoff’, occur when a lender approves the sale of a property for less than market value because of a financial hardship. However, lenders do not want to own real estate. They would rather take a loss on a sale than actually own the property. Lenders also don’t like to foreclose. It is a process that costs them time and money and then they are stuck owning property. So the bank will lose a little now to avoid losing a lot via foreclosure.

“Any transaction that could possibly result in the recognition of income or capital gain needs to be examined closely by either your CPA or financial advisor, a short sale is a perfect example,” asserts Potts

Whether you are buying, selling, or need help understanding a short-sale, loan modification, special forbearance situation, partial claim, pre-foreclosure sale or deed-in-lieu of foreclosure situation this seminar can help answer many your questions.

Seating is limited so please be sure to R.S.V.P. by June 19, reply to Tracie Mitchum of the Carter Real Estate Center at 843-953-8103.

About Charleston Your Home:

Founded in 2007, Charleston Your Home (CYH) is a cutting-edge boutique real estate agency specializing in the Charleston, SC real estate market. Singled out by industry experts for their exceptional Internet marketing capabilities, CYH was awarded the grand prize for “Best Agent Website”. For more information, please visit CYH online at (http;//www.CharlestonYourHome.com).

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