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Managing Your Finances During the Coronavirus Outbreak

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Interesting article
The coronavirus has destabilized the economy and had impacts on workers across the globe. Taking steps to get help and taking the reins of your money can help you ride out the storm.

Originally published: 3/19/2020 | Updated: 3/27/2020

The coronavirus outbreak is currently on everyone’s mind. Social distancing and other practices to reduce its spread are essential not only to your health, but to the health of others as well. With governments implementing measures to reduce the impact of the virus and businesses closing or reducing their hours, life as we know it has changed.

The coronavirus outbreak has already had significant effects on the economy. Three of the five biggest drops in the history of the Dow Jones Industrial Average have come during the crisis, and people are already feeling the impact of their hours being cut and their savings losing value.

To help protect people from many of the economic effects of the coronavirus, both the government and private lenders have offered relief to consumers.

Click Here for the full article

Fannie Mae, Freddie Mac tighten some underwriting standards

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COVID-19 is obviously causing economic challenges. Fannie Mae and Freddie Mac have responded accordingly. THIS WILL IMPACT THE LENDING INDUSTRY. The Retail Real Estate Industry. Life will never be the way it was in February, 2020.

Fannie Mae, Freddie Mac tighten some standards, loosen others amid coronavirus crisis

GSEs make more changes as crisis worsens

With the coronavirus continuing to wreak havoc across the country, the nation’s two largest sources of mortgage funding are taking additional steps to address issues that currently exist within the lending process.

Fannie Mae and Freddie Mac announced Tuesday that they are tightening some lending standards while also beginning to offer several “loan processing flexibilities.”

Several of the changes announced by the GSEs address potential concerns surrounding proof of income and assets, two things that can, unfortunately, change rather quickly for some borrowers right now.

According to both of the GSEs, they are changing the age of document requirements for most income and asset documentation from four months to two months. What that means is all income and asset documentation must be dated no more than 60 days from the date of the mortgage note.

Previously, that window was 120 days.

In Fannie Mae’s announcement, it states that the change is being made “in order to ensure that the most up-to-date information is being considered to support the borrower’s ability to repay.”

Beyond that, the GSEs are also making changes to their income verification requirements for self-employed borrowers. Under the GSEs current policies, when a borrower is using self-employment income to qualify for a mortgage, the lender must verify the existence of the borrower’s business no more than 120 days prior to the note date.

CLICK HERE FOR FULL ARTICLE

NOTE INVESTORS FORUM VIRTUAL MEETUP

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Our 1st-VIRTUAL Note Investors Forum Meetup.
Host: Dave Franecki

Join us on Wednesday, March 25th; 11:30am-12:30pm PST. |  AZ

Topic:

  • The impact of the Coronavirus On the Note & Real Estate Industry
  • How have things Changed From January / March 2020
  • Q&A:  Buy, Sell OR Hold.

Guest Speaker: Howard Tenn

Join Zoom Meeting

https://us04web.zoom.us/j/697196717?pwd=SHhUaU5oWWRWaUpQM250QmlxUkNkZz09

Meeting ID: 697 196 717

Password: 032515

Fannie Mae, Freddie Mac, HUD suspending all foreclosures and evictions

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Foreclosure moratorium lasts until at least end of April

Cities and states across the country are already suspending evictions and foreclosures in response to the spread of the coronavirus, but the federal government is taking the biggest step so far to keep people in their homes.

President Donald Trump announced Wednesday that the Department of Housing and Urban Development is suspending all foreclosures and evictions until the end of April.

Beyond that, the Federal Housing Finance Agency announced Wednesday that it is directing Fannie Mae and Freddie Mac to suspend foreclosures and evictions for “at least 60 days.” That would mean the moratorium lasts through mid-May, at least.

According to the FHFA, the foreclosure and eviction suspension applies to homeowners whose single-family mortgage is backed by either Fannie Mae or Freddie Mac.

“This foreclosure and eviction suspension allows homeowners with an Enterprise-backed mortgage to stay in their homes during this national emergency,” FHFA Director Mark Calabria said in a statement.

Given that Fannie and Freddie are the largest mortgage financers in the country, the move is a sizable one.

“As a reminder, borrowers affected by the coronavirus who are having difficulty paying their mortgage, should reach out to their mortgage servicers as soon as possible,” Calabria added. “The Enterprises are working with mortgage servicers to ensure that borrowers facing hardship because of the coronavirus can get assistance.”

Earlier this month, the FHFA and HUD reminded mortgage servicers of their options for borrowers affected by the COVID-19 outbreak.

Included among those options is payment forbearance, which would allow affected borrowers to suspend their mortgage payment for up to 12 months due to hardship caused by the coronavirus.

As for HUD, Trump made the announcement during a Wednesday press conference discussing the growing impact of COVID-19.

“The Department of Housing and Urban Development is providing immediate relief to renters and homeowners by suspending all foreclosures and evictions until the end of April,” Trump said. “So, we’re working very closely with Dr. Ben Carson and everybody from HUD.”

CLICK HERE FOR FULL ARTICLE

Fannioe Mae – Allowable Attorney Costs

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Fannie Mae has approved attorney foredclosure fees. One of the first questions that is asked regarding any real estate foreclosue is “What does it cost”?  This topic was discussed at the February 2020 NoteWorthy Summit.  Some Attorneys charge by the hour. Some attorneys charge by Fannie Mae allowable limits. My experience is do NOT hire an attorney by the hour. The attached list details allowable costs by state. But………….keep in mind there are other costs.  Ask your attorney for those details so you know your options. For instance, one of the more expensive counties for foreclosure  is Allegany County(Pittsburg). The Sheriff charges $2,500.  Yikes!!

The costs are different for Land Contracts/Contract For Deeds. That may be a different process which is referred to as forfeiture.  Some states now view Land Contracts/Contract For Deeds just like a foreclosure. Some states have a relatively short process(Texas-60 days). Other, Florida, New York, New Jersey may take 2+ years to foreclose. Typically the “sand” states have a short fuse–Arizona, California etc.  As an investor, Capstone avoids the states North of and including, Maryland/New Jersey due to the anti-investor seniment. Be smart, check out the laws first before you invest.  If you own a real estate note, or contract,  performing or non-performing, Capstone Capital USA buys notes and mortgages. Give us a call.

Fannie Mae_allowable-attorney-trustee-foreclosure-fees

 

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1 Million More People in Metro Phoenix in the Next Decade? Where Will We Put Them?

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The following article  was originally posted on AZ Central on January 27, 2020 and reposted by the Orion Investment Group.

As a 23 year resident of Phoenix, my only thought is OMG.  Yikes, not another LA. NOOOOOOOOOOOO! But with the growth there will be many opportunities!!!

Metro Phoenix is expected to grow by 1 million people during the next decade.

That will be like adding a city the size of San Jose, California, or Austin, Texas, to the Valley.

The billion-dollar question is where all those new residents will live.

Most of the available land is on the edge of the West Valley and deep into Pinal County in the southeast Valley.

About 5 million people already call metro Phoenix home, and the region already faces infrastructure and housing affordability issues.  CLICK HERE TO READ MORE

RISK vs REWARD | GREED vs FEAR NOTE INVESTORS FORUM MEETUP 2 5 20

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   The February 2020 Note Investors Forum Meeting
will be Wednesday, February 5th 11:30am-1:30pm

La Famiglia Restaurant, SE corner of Dobson & Guadalupe, Mesa

Special Guest Speaker:   Howard Tenn  

Topic: 
Risk vs Reward   |    Greed vs Fear      

Howard is a protiage of Stan Harley, January’s guest speaker.  He will follow-up on Stan’s presentation. Preparing for 11/22 —

Prepare yourself for the next BIG Correction.
What happens when the music stops?

Being a former financial planner, Howard understands this topic.    
 
SAVE THE DATE.
MARK YOUR CALENDAR
YOU WANT TO BE IN ATTENDANCE!!!
FOR WEDNESDAY FEBRUARY 5th
NOTE INVESTORS FORUM 

The room is maxed out @ 55 attendees.

Lunch served.

Click on the link below to reserve your spot.
$16.83 includes networking, education, lunch, tax and tip.
$20 at the door.

 

 

SOLID STARTER 40 MONTH PARTIAL NOTE FOR SALE

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FEATURED ASSET
GREAT STARTER SHORT TERM PARTIAL


Location: Belding, MI
Note Type:                                        CFD
Payments Purchasing:                40 pmts
Remaining Term:                          64 pmts
Monthly P & I                             $300.24
Seasoning:                            132 months
Est Mkt Value:                          $89,000
Current upb:                             $15,182
Interest Rate:                                 10%
LTV  |   ITV:                   17%  |   13%

OFFERING PRICE:       $10,228

Additional Assets Available

Contact:
Dave Franecki
Capstone Capital USA, LLC
480 763 8376
Dave@CapstoneCapitalUSA.com
www.CapstoneCapitalUSA.com/notevault/

NOTE INVESTORS FORUM MEETUP ~ WEDS 2/5/20

By

The February 2020 Note Investors Forum Meeting
will be Wednesday, February 5th 11:30am-1:30pm

La Famiglia Restaurant, SE corner of Dobson & Guadalupe, Mesa

Special Guest Speaker:   Howard Tenn  

Topic: 
Risk vs Reward   |    Greed vs Fear      

Howard is a protiage of Stan Harley, January’s guest speaker.  He will follow-up on Stan’s presentation. Preparing for 11/22 —

Prepare yourself for the next BIG Correction.
What happens when the music stops?

Being a former financial planner, Howard understands this topic.    
 
SAVE THE DATE.
MARK YOUR CALENDAR
YOU WANT TO BE IN ATTENDANCE!!!
FOR WEDNESDAY FEBRUARY 5th
NOTE INVESTORS FORUM 

The room is maxed out @ 55 attendees.

Lunch served.

Click on the link below to reserve your spot.
$16.83 includes networking, education, lunch, tax and tip.
$20 at the door.

 

HOW TO READ BODY LANGUAGE

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Several years ago–going way back to the late 1990’s I had the pleasure of meeting and working with HOW TO READ BODY LANGUAGEJeffery Combs of Golden Mastermind Seminars in a large MLM venture.  Subsequently, Jeffery went on to build a huge personal development business. Prior to meeting Jeff, I had a fair amount of sales training via Dale Carnegie and the AMWAY business.

So what’s this post about? Bottom line —working with people and watching their body language. If you work with or interact people the year 2020 is no different than 1990 or 1998. This post is about integrating people skills into what ever business you are in. Notes, investing, real estate or whatever. It even works in personal realtionships!!!  Technology is great, but people skilss is where the rubber really meets the road.

The full article is below, but you can also click on the picture to access the article and Jeffery’s site.

Personally I Read Body Language @ the Note Investors Forum Meetup and every time I speak on stage or even on the phone–which is can be done by listening very carefully to voice inflections.

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HOW TO READ BODY LANGUAGE

Connecting with people is easy.

You shake their hand, say hello, and ask genuine questions to get to know them.

But do you know what the person is saying beyond their words?

Let’s face it…

…If you can’t read between the lines of what they are saying or aren’t paying attention to their body language… you are missing the boat!

I know…

I’ve been in sales for over 35 years and have been a success and addiction coach for 20 years PLUS!

It’s critical that you understand how to read energy, body language, non-verbal communication, what is meant along with what’s said, and be able to read why people do what they do.

Why… you ask?

Because body language and non-verbal communication can account for over 60% of what is being communicated.

So today, I’m going to teach you how to read the signs.

DISCOVERING PREDICTABILITY

A frown means someone is sad or disappointed.

An upturned mouth means a person is happy.  You learned this at a very young age without anyone formally teaching you.

Over time, you began interpreting expressions and body language.

Here’s what you require knowing today…

Human beings are predictable. The more you understand people’s predictability, the better you will be it be able to adapt and adjust to the situation.

NOW, to be in an emotional space to read people on a deeper level, you have to get beyond the fear of judging people. Being able to read people effectively DOES NOT mean you’re judging them.

It means that you live in a know state… That’s K-N-O-W. Not N-O. Meaning you see the signs, interpret them, and KNOW what is communicated.

Have you ever seen someone who broods and pouts? Their bottom lip comes up over their top lip. Then their energy drops.

Have you ever encountered someone who’s hostile and unapproachable and you could tell how angry he or she was without talking to him or her?

These are just a few examples of non-verbal communication that you require interpreting to understand body language.

So here’s the thing…

The psychology of reading body language is not that difficult once you become aware of the signs.

INTERPRETING THE SIGNS

Watch the person’s eyes.

When you ask someone a question… a simple a yes-no question like,  “Have you ever considered starting your own business?” And the person answers with the sound, “Um” followed by a “Well…”

Realize these are stalling words. They are a CLUE you know you’re going to receive a story.

Pay attention to words of indecision like guess, kind of, and sorta. These are words of non-commitment.

When you ask someone a question, and they cross their legs or cross their arms… This is a clue that they are shut off or overwhelmed.

If the person has very little or a tense facial expression, their body is turned away from you, or their eyes are downcast, maintaining little contact… this typically means they are disengaged, not interested, or unhappy.

On the other hand, when you ask a person a question, and they respond immediately, this is a positive sign.

Here’s a bigger clue…

If they use a superlative like: Yes, Absolutely, or Unequivocally… this is a sign that the person is decisive. They are someone who can commit.

Examples of positive body language signs include: having an open body position… that means the arms are unfolded and hand gestures will face up. The person will hold an upright posture and have a relaxed facial expression. There will be regular eye contact… And the person’s arms will be relaxed by their sides when they are not gesturing.

UNDERSTANDING WHAT’S MEANT AND NOT SAID

O.K.

Here is one of the biggest secrets when it comes to reading the signs.

As you observe the body language of a person, also PAY ATTENTION to what’s meant… not what’s said.

What does that mean?

You can intuitively know what they mean by what they say.

I’ve been a sales professional for 35 plus years. Often, people tell me what they think I want to hear.

Here are some examples:

“Yeah, what I’m going to do is look over this information, and I’m going to get back with you.”

“Yeah what I’m going to do is hire you just as soon as I get my money together.”

“Um… I’ll call you after the holiday.”

“This sounds great BUT… I have to run it by my spouse.”

It’s your responsibility to understand who means what they say and who’s telling you what they think you want to hear.

When someone says to me, “I’m sure you can appreciate I have to run to buy my husband.” In reality, I appreciate someone who can make a decision. The person is assuming that I’m going to agree with them.

Now, I’m not going to disagree with them, but I understand what that means. I also know that some people DO require to speak with a significant other. I do understand that they require to get approval from someone else or acknowledgment.

BUT I also ask a question to test the situation.

“Can you close your husband?”

“Can you close your significant other?”

“Are you going to be able to ask for a loan from your bank?”

These are situations where you learn to ask further questions.

GETTING GOOD AT READING PEOPLE

When you get good at reading people, you can see the non-verbal communication in their eye irises. You can see it in the smirks in their face. You can see the downtrodden corners of their mouth. You can see how high or low their energy is.

And by interpreting the tone of a person’s voice, you can hear vibrationally where he or she is coming from.

Be attentive when you ask a question.

Does the person cross his or her legs? Do they look away? Does his or her eye iris’s go up and out? Does the sound “UM” come out of his or her mouth? Does the person start telling you a story completely unrelated to the question you ask?

Watch the person’s body language. See how closed and contained he or she is…

…or how open he or she is.

These are all telegraphs… They are signs.

The more you pay attention to the signs, practice interpreting the non-verbal communication, and read body language… the better you will become at the science of reading people.