Hi Friends,

I heard this on the news and was floored! This is the best news I have heard all year. Homeonwers can have a peaceful Christmas.

Contact as many homeowners as possible during this grace period. They need to know that they have a fresh start next year.

Fannie Mae To Suspend Foreclosures Until January 2009 While Streamlined Modification Program is Implemented

WASHINGTON, DC — In order to support the streamlined modification program announced on November 11, 2008, Fannie Mae (NYSE:FNM) today issued a notice to its loan servicing organizations and retained foreclosure attorneys directing them to suspend foreclosure sales on occupied single-family properties as well as the completion of evictions from occupied single-family properties scheduled to occur from November 26, 2008 until January 9, 2009.

The temporary suspension of foreclosures is designed to allow affected borrowers facing foreclosure to retain their homes while Fannie Mae works with mortgage servicers to implement the streamlined modification program scheduled to launch December 15.

Foreclosure attorneys and loan servicers will be instructed to use the additional time to reach out to borrowers who have defaulted on their loans and continue to pursue workout options. The initiative applies to loans owned or securitized by Fannie Mae.

The streamlined modification program is aimed at the highest risk borrower who has missed three payments or more, owns and occupies the primary residence, and has not filed for bankruptcy. The program creates a fast-track method for getting troubled borrowers into an affordable monthly payment through a mix of reducing the mortgage interest rate, extending the life of the loan or even deferring payments on part of the principal. Servicers have flexibility in the approach, but the objective is to create a more affordable payment for borrowers at risk of foreclosure.

“The streamlined modification program by Fannie Mae, Freddie Mac, Hope Now and 27 mortgage servicers is an important step forward in addressing the systemic issues driving the increase in foreclosures,” said Fannie Mae President and Chief Executive Officer Herb Allison. “Until the streamlined modification program is fully implemented, we felt it was in the best interest of both borrowers and Fannie Mae to take this extra step to ensure that homeowners with the desire and ability to prevent a foreclosure have an opportunity to stay in their homes. We encourage other servicers of non-GSE mortgages to participate in the streamlined modification program to bolster our collective efforts to stem the foreclosure crisis.”

Fannie Mae will be working with foreclosure attorneys and servicers to reach out to the more than 10,000 borrowers the company estimates would be affected during this period. Borrowers who have Fannie Mae loans that are scheduled for foreclosure between November 26, 2008 and January 9, 2009, will be contacted directly by the attorney handling the foreclosure. If the home is occupied, Fannie Mae has instructed servicers and attorneys to suspend the foreclosure.

Allison also said Fannie Mae’s loan servicers are prepared to work with borrowers during this period, even if previous workout efforts have been unsuccessful. As part of the company’s “Second Look” initiative, Fannie Mae personnel have been reviewing seriously delinquent loans to determine if the borrower has been contacted and all workout options have been exhausted.

The streamlined modification program and temporary suspension of foreclosures are two of a series of steps Fannie Mae has taken to expand its foreclosure prevention efforts, which are designed to give loan servicers and foreclosure attorneys tools to find the best solution for a borrower in financial trouble. Fannie Mae and its many partners in the housing industry urge borrowers in financial difficulty to reach out to their loan servicers, regardless of whether they are facing imminent foreclosure. Solutions may be available that could make an existing mortgage more affordable.

“Fannie Mae is committed to working with FHFA to implement the streamlined modification program as quickly as possible to help prevent unnecessary foreclosures,” Allison said. “We must and will do more.”

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America’s secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. In 2008, we mark our 70th year of service to America’s housing market. Our job is to help those who house America.

Fannie Mae Resource Center Telephone 1-800-7FANNIE (1-800-732-6643)

This offers a lot of hope….share with with your homeowners.

Have a Great Evening,

Dwan
Pick up a copy of SHORT SALE PRE-FORECLOSURE INVESTING at www.amazon.com right now. It’s perfect timing.

Hi Friends,

I get so much junk mail, it stuns me. Everyday something comes for a credit card, a new loan, a magazine, or something. I got an interesting one yesterday. It looks like an official piece of mail from the government.

I received Form 008 -S from the National Loan XXX Company. The letter states that this is an official “payment reduction notification” which is part of the “Stimulus Act of 2008.”

So - I called, spoke to Clay, and asked what the letter was about. Clay informed me that they could reduce my interest rate and possibly reduce my principle amount.

They use two methods to do this:

* A Loan Modification
* A Forensic Evaluation

The best part is that it only costs me $1,495 down and $1,495 once the loan modification is accepted:-). Really - I asked what a loan modification was and received a good answer. Clay seemed to have a good grasp on a loan modification. Don’t know if he has actually done one, but his sales pitch was good.

As I began to pry into the “forensic evaluation” - the conversation became vague. I was told that an attorney would review my file for mistakes and possibly force the bank to modify my loan. Forensic Evaluation…say it once - forensic evaluation - doesn’t it sound official and scary? I thought so:-).

Clay never did ask what bank I use, what loan number, if my payments were late, or even my phone number. He did ask my interest rate, payment amount, and told me how much he could save me.

I called another bank I know and ask about a forensic evaluation and the rep didn’t know what I was talking about. I am not familiar with the term either. I am assuming it is a snappy term someone came up with to get homeowners to part with $3,000.

Folks - I have been teaching you about loan modifications for years. Don’t let your homeowners get scammed…YOU help them. Also - don’t let me catch you charging someone $3,000 for something that takes 20 minutes. Remember, help homeowners. It will come back to you 10 times over.

BTW - the best part of the call with Clay was that there were NO RESTRICTIONS on my credit, income status, employment, or equity… and that no matter how bad my credit is, he can get me a loan modification…for just $1,495 down and $1,495 upon approval. What a deal…

Be careful of scams. Bad people come out of the woodwork during down times. This company may very well do a successful loan modification, but $3,000 dollars…come one…what a rip.

Keep your eyes and ears open.

Have a Wonderful Day,

Dwan

Have you purchased your copy of SHORT SALE PRE-FORECLOSURE INVESTING yet?
Pick one up today at www.amazon.com

Hi Gang,

I sent an email to my entire list this weekend and I wanted to also offer the same special here. As we near the holidays, my book publisher wants us to be in all the stores. My new book - SHORT SALE PRE-FORECLOSURE INVESTING - is doing very well so far and we want it to stay that way.

So - here is my offer. Go to www.amazon.com and order 10 copies of my book and I will email you ANY program that I have…including my brand new Short Sale Secrets which sells for $1,497…FREE!

Just fax the receipt to 303-838-5504. Also, please post a positive reveiw if you have already purchased the book - 5 stars! So…you help me and I will help you in return. You can check out our site and pick the program of your choice…FREE. 10 books will only cost you $165 or so…its a win/win for both of us.

Thanks for your continued support.

Warmly,

Dwan

Hi Friends,

My friend, Jeffery Taylor, writes a monthly newsletter for landlords. He is amazing and offers incredible tips. Here is what he has to say this month…

MRLANDLORD.COM TIPS ON MANAGEMENT

START PRACTICING YOUR “‘SORRY TO HEAR THAT, BUT…” SPEECH
In the next few months, more and more landlords will be hearing various versions of resident stories of how they are facing tough times…

For example: A landlord recently shared on the popular MrLandlord.com Q&A Forum how he has a good tenant of approximately 3 years. The tenant hasn’t been laid off, but hasn’t been working much either lately due to the economy. He has said he will be late with October rent and can’t pay any of it right now.

He is working on a couple of options…
1. Interviewing
2. Help from his church.
3. Trying to get his vacation released/paid off early.

I know going by the book says to start the eviction process, but I just wanted to get others’ thoughts. I really don’t want to lose this guy and feel he will pay up when he can. How long that is, I don’t know. Your suggestions are appreciated.

As one landlord advised, it’s time to give the SORRY TO HEAR THAT, BUT…. speech - Sit down on the front steps and level with this guy. “Yup, sorry to hear that. Sure isn’t fair … You’ve been a good tenant and I hope you can recover from this.. but… If you can’t pay all the rent by xx/xx/xx, I’d like you to move out voluntarily. No hard feelings. Will you do that?” Instead of going the eviction route (takes time and money), see if you can get him to move voluntarily if he can’t pay the rent.

Folks, we better start practicing this “sorry to heat that, but..” speech (or some form of it) because landlords are going to see a lot of tenants like this example.

DO NOT DIRECT RENTAL APPLICANTS AWAY!
There are some landlords who really prefer not to rent to families with children for many reasons including possibly greater wear and tear on the property, teenagers attracting other teenagers, or more potential noise or other problems. Thus, some landlords when approached by rental applicants with children try to kindly suggest or direct those applicants to consider other homes or apartments where the children would “better fit in” or where there are other children the same age.

Regardless of whatever reason a landlord may not want children or teens in their particular home or apartment, to even ‘kindly’ suggest or direct families with children to other buildings or neighborhoods is considered ’steering” and this is illegal. Even if a landlord honestly thinks that their home is not ideal for children (for whatever reason), the landlord must leave it up to the applicant to make the decision that a home is or is not suited for them. For a landlord to not give an applicant the opportunity to rent a home and direct them elsewhere can be a very costly mistake, should that applicant contact fair housing officials. The moral of the story - Treat everyone the same, no matter the number of children and definitely do not try to direct or steer applicants to other units and not allow them to apply to your property.

A LANDLORD’S CAUTIONARY TALE
One of my tenants had ME arrested recently, for rescuing what appeared to be an (unauthorized ) abandoned dog from their apartment . Two 20-something sisters have been renting from me since last September., and things were fine, but 6 months in to the rental term conditions gradually deteriorated - with late rent, sleep over “guests”, a new baby out-of-wedlock, increasingly poor housekeeping, and finally a dog that appeared without prior permission or a pet deposit.

Then no rent for September or October - so I began calling and visiting regularly - hoping to avoid an eviction. At some point they stopped responding to my calls completely . Meanwhile there are three other good tenants in this quad, and for their sakes, I needed to monitor what was happening . After several failed attempts to find the sisters at home, I opened their door attempting to see what was going on. Small signs of packing, heaps of “stuff” everywhere, major population of roaches, two huge areas of rotten smelly food garbage - both inside and outside the front door, and a urine smell. And the dog was there alone - obviously using the carpet for it’s relief. It seemed no one had been there since I’d checked a couple days prior.

I returned armed with bags and rubber gloves, and cleaned up the trash, along with a large amount of cooking oil that had oozed out of one bag all over the kitchen floor - lovely ! As I was getting ready to leave, I checked the dog’s food bowl. The dry food had live roaches in it - and the water contained several dead floaters. It was obviously not being touched by the dog.

Being an animal lover, I realized that if I returned again and found the dog dead I would never be able to live with myself. It was late, I was exhausted, and so at the last minute, I decided to take the dog with me. My mistake here - is I should have called the police myself first. Instead, I brought the dog home, gave her a bath to wash her urine soaked butt, and went to bed.

I live 16 miles. from the quad. Apparently somebody had returned there after I left. At 12:30 am - a flashlight shone in my bedroom window - and I was “escorted” - with the dog - to return it to the owner - their Mother. She was all friendly as she took the dog - then the officer said he wanted to speak with her, and closed the patrol car door - locking me in. As he got back in - he said he tried to talk her out of pressing charges (which I didn’t believe), and off I went to jail. Not a fun experience - nor a cheap one .

I know I had no business going into the apartment - but too late for such musings. Now I’m forbidden to contact them until after the arraignment next month. So I’ve no idea what’s going on. I’ve always treated my tenants well, and with respect - so my remaining three like me very much. At least I can look in the mirror and feel good about who I am. But be careful - tenants can turn ugly real fast

Editor’s note: Reminder that most state laws prohibit landlords from going into your resident’s home or apartment without first giving proper notice! These tips are shared on MrLandlord.com website and in the Mr. Landlord newsletter from website contributors and real estate authors featured on the site. To receive a free sample of the Mr. Landlord newsletter, visit their informative website at MrLandlord.com and register to win a free landlording book.

Hope this tips helps…wow … getting arrested..bummer:-).

Thanks Gang,

Dwan
SHORT SALE RPRE-FORECLOSURE INVESTING @ www.amazon.com

Hi Friends,

One of our superstar students - Jim Fereebe - sent me some interesting information today. A friend of his does BPO’s and sent this…these were the instructions he was given from the bank for the BPO he is getting ready to do..

Special Instructions:

Interior BPO:
Due to the importance of an independent opinion of value, please do not discuss your value with anyone or be influenced by list price, pending offers, accept comp packets, repair estimates or the listing agent’s opinion. Please include a kitchen photo of each unit.

Purpose:
Our mutual client is weighing their options to determine the most appropriate action (restructure loan, accept short sale, foreclose on the property, etc.). To assist them with the decision, they have asked us to determine a market value for the subject, strongly considering condition and current market conditions.

Customer Specific Requirements:
1. For this customer it is okay to conclude above the subject’s list price as it may be a short sale and not represent fair market value or have adequate exposure time to the market. Please let comps that are similar in condition, characteristics and proximity dictate your value.
2. Please specify whenever a comparable is an REO or Short Sale.
3. This customer does not loan on vacant land. If the subject if found to be vacant land please call Clear Capital at XXX-XXX-5011 and provide detailed comments in the form and any additional photos, including address verification, to indicate how the property was determined to be the correct address. Please also provide comments and any additional information on what happened to the structure.
4. Please include all repairs needed (even if not recommended), including cosmetic repairs.

Comparable Requirements:
1. Please use comps from the same neighborhood, block or subdivision whenever possible.
2. Please use the most recent comparables available. If the comparables provided are older than 3 months please provide an explanation in the report.
3. In rapidly changing markets, active listing comps should be strongly considered in your analysis and make market adjustments to sold comparables as necessary.
4. It is acceptable to use REO properties if they are considered comparable in condition, recent, close in proximity, and the market is REO driven.

Standard Instructions:
1. Please use the subject characteristics provided in the BPO Grid (if we preloaded them) to evaluate the property. This information is from a full interior appraisal and is assumed to be most accurate. If your inspection reveals obvious inaccuracies, please explain in the narrative of the BPO.
2. Please do not accept if you or your office has completed a BPO on this property in the last 12 months, are currently listing this property or have any vested interest in this property.

It’s always good to know what the bank is thinking. No matter what the bank is asking for…attend the BPO, give the agent copies of your short sale package, tell the agent the exact price you are looking to purchase the property for, and show the agent the property from YOUR point of view. A good BPO is crucial to a deep short sale.

Thanks and have a great day,
Dwan
Have you purchased your copy of SHORT SALE PRE-FORECLOSURE INVESTING yet? www.amazon.com

Hi Friends,

Click this link and read this great article…I will await your comments:-)…

http://www.mainstreet.com/article/home-auto/selling-home/how-swim-out-underwater-mortgage

YOU MAY HAVE TO CUT AND PASTE…it will be worth it!!!

DwanPurchase “SHORT SALE PRE-FORECLOSURE INVESTING” Today @ www.amazon.com

Hi Friends,

Well the votes are in and Barack Obama is our new president. I must admit that I sat in front of the television stunned for the first few minutes. I don’t understand how our country voted for someone who goes against so many Biblical principles. Then again… it does not seem that many people care about religion when the economy is in such a mess.

Once I got over my shock…I watched John McCain give a very gracious speech. As the audience tried to boo Obama, he would not allow it. He said what I believe to be true - “Barack Obama is MY president and I will support him.” That is what I am asking from all of you…support Obama, as he is the president and God calls for us to support and pray for our leaders.

As I watched Barack give his acceptance speech, I could not help but notice the crying, happy faces and the look of excitement he generates. I even felt a little caught up in it for a
minute:-).

I am going to ask that everyone pray for his safety. There are still a lot of “good ole boys” who would consider it a privilege to take a shot at a black president. It would be a disaster for our country as well as his family. I am going to make it a point to pray, every single day, for his success and safety…please join me.

On a sad note - I wished is grandmother had lived one more day. It would have been the proudest day of her life…

So..with that…lets see what Obama does. He still has to EARN my respect - but he has my support.

Have a Blessed Day,

Dwan
SHORT SALE PRE-FORECLOSURE INVESTING @ www.amazon.com - buy a copy today!!!

Hi Friends,

We are on the eve of the most talked about election is our history. I have to admit - I am super excited to see what happens.

I’d like to make a few comments about the pending outcome. Personally, I am hoping that McCain/Palin win. Why? Because I try to vote based on what the Bible says. They are closer in line with my moral values than Obama/Biden.

However, the Bible says to support and pray for our leaders continuously. No matter who wins, as a proud American I will support that person with 100% of my support. I will support the winner because of the fact that I am a proud American and I am thrilled to live in the greatest country in the world…

So please vote and support who wins even if you didn’t vote for them…

Have a Blessed Night,

Dwan
SHORT SALE PRE-FORECLOSURE INVESTING @ www.amazon.com

Hi Friends,

I find that the worse the economy gets the more people are focused on money. Are you becoming more and more worried about bills, credit, debt, and what will happen to all of us? If you are, it’s okay…you are normal.

I just want to take a minute to remind you that money and the economy are not really important. A very good friend of mine was diagnosed with Stage 3 Ovarian Cancer this week. Do you think she and her family & friends care about money right now? No - we all care that she gets better; we realize that family and friends ARE the most important things in life. Someone with cancer would trade financial distress with you in a heartbeat.

Please don’t let “the sky is falling” attitude rub off on you. Don’t be short with your spouse because you are having a hard time making ends meet, don’t miss a child’s school program or the birthday of a family member because money is tight, don’t forget what really counts.

When you die and you are standing before Jesus at the pearly gates - not one of you is going to wish they had worked harder or longer hours. We are going to wish we had spent more time with the people we love and that we would have done more good in the world. Friends…start today.

Encourage others during this trying time..be a support for someone else..listen to someone else’s problems instead of being so focused on yours…you can make a HUGE difference in the life of someone else if you can take the focus off of your own problems for awhile.

My dad always says that any day above ground is a good day:-).

Have a Blessed Night,

Dwan
SHORT SALE PRE-FORECLOSURE INVESTING @ www.amazon.com

Hi Friends,

I am personally emailing every single person who purchased my new book - SHORT SALE PRE-FORECLOSURE INVESTING - this week. I am asking how your investing is going, offering advice in this scary market, and just seeing how I can serve you.

I have to tell you…some of you have email addresses that are SOOOOO unprofessional. I feel like calling you personally and yelling at you. I realize that we want to have “fun” email addresses, but you are a professional investor and need to reflect that. Unless many of you have a second email address, I can tell you why you don’t have enough business.

I am sending emails to addresses like cox6969@…..,com, wildguy6969@….., shy_boldguy@…com, wildgirl@…..com, partybabe@…com, ibuyhouses.i.u.rr.com….what’s with all the dots…? What are these email addresses insinuating - that you are loose and easy or professional. If I were a homeowner in distress, I would never work with anyone who uses the numbers 69 or states that they are a party person in their address and thinks that it is okay. What are you…in high school? Grow up….we are big boys and girls now and need to act like it.

Folks… This is a serious business that requires serious people. You have homeowners lives in your hand…are you worthy?

Thanks for letting me vent…

Dwan
dwanbent@aol.com - see - easy to remember and use and only states my name…