Define a Mortgage Short Sale

Define a Mortgage Short Sale

click photo for more information
Define a Mortgage Short Sale
Isn’t that what happens when you come up short on a mortgage payment? Perhaps it is selling your house with only a short time left on your mortgage.  Or maybe a garage that is too short to fit the average car. Actually, a Mortgage short sale occurs at the sale of property by a financially distressed borrower for less than the outstanding mortgage balance. The lender accepts the proceeds of the house sale and which is short of the full repayment of the mortgage. The lender releases the borrower from the mortgage obligation.  The lender does this to avoid what would amount to larger losses for the lender if it were to foreclose on the mortgage. NOLO says saving your credit score may be the most touted reason for a mortgage short sale.  However, according to myFICO, short sales, foreclosures, and deeds-in-lieu of foreclosure are all “not paid as agreed” accounts. They are considered the same for purposes of your FICO score. Short Sales Don’t Always Cancel the Remaining Debt on the Mortgage When a lender approves a mortgage short sale, what does the lender agree to do? At the very least, the lender agrees to remove or release the lien on the property. A seller [...]
0
345

Comments

The Land Geek Summer Reading List

click photo for more information
The Land Geek Summer Reading List
Looking for a good book to read this summer? Whether you’re looking for books that will move the needle in business or motivate you in life, or maybe you just want to lose yourself in another world, [...]
13
14

184 – How To Become An Expert Quickly

click photo for more information
184 – How To Become An Expert Quickly
How To Become An Expert Quickly I talk to a bunch of people each week who share similar roadblocks to raising money because they don’t feel they have enough expertise to speak intelligently about r [...]
7
37

Everything You Need To Know For Cracking The Code To Effective Marketing

click photo for more information
Everything You Need To Know For Cracking The Code To Effective Marketing
Get ready to take your business to the next level as our guest—serial entrepreneur, marketer and trainer, Fazil Musa joins us to talk about cracking the code to effective marketing. Fazil is the [...]
4
106

Embrace The Relaxation—What Time Off Looks Like For The Land Geek Team

click photo for more information
Embrace The Relaxation—What Time Off Looks Like For The Land Geek Team
With all the systems in place for your land business, is it possible to step away 100% and fully enjoy a vacation without worry? The hardest part sometimes, is doing nothing. Mike As we enter i [...]
5
138

Your Work-Life Balance

click photo for more information
Your Work-Life Balance
Pause for a moment, wherever you are and check-in with yourself with these questions, “Do I feel stressed? Am I unhappy?  Do I feel I have no time for my family? If you answered yes to these questi [...]
7
70

183 – Are You Doing It Wrong – A Letter From A Listener

click photo for more information
183 – Are You Doing It Wrong – A Letter From A Listener
Are You Doing It Wrong- A Letter From A Listener Below is the email I received, and below that is my reply.  Hey Tyler,  I just want to say thank you for doing what you do and providing so much val [...]
2
70

How To Take Charge Of Your Tax Plan—Why You Need To Know More Than Your CPA

click photo for more information
How To Take Charge Of Your Tax Plan—Why You Need To Know More Than Your CPA
Mark J. Kohler—C.P.A., J.D. joins us on today’s show to share some significant tips on taking control of your financial strategy by not letting your accountant tell you what your plan is. Mark [...]
5
239

Trading Dirt For Paychecks—It Doesn’t Get More Simple Than Land

click photo for more information
Trading Dirt For Paychecks—It Doesn’t Get More Simple Than Land
With this business being 90% automated, we have a lot of free time on our hands… should we feel guilty about it? Scott Todd takes the helm as team geek talks about SURVIVOR’S GUILT in this [...]
12
327

182 – Overcoming The Past To Succeed In The Future

click photo for more information
182 – Overcoming The Past To Succeed In The Future
Overcoming The Past To Succeed In The Future Bad things happen in our past, that’s just part of life.  I know, it is much more complex than just those words, however this week I want to discuss th [...]
9
94

Real Estate Strategies That Make The Most Sense

click photo for more information
Real Estate Strategies That Make The Most Sense
Our guest, Jason Lucchesi has done it all when it comes to real estate and today he’s here to share his extensive expertise and tell us which strategies make the most sense. Jason has been en [...]
9
399

How to Turn $800 into a Multi-Million Dollar Business

click photo for more information
How to Turn $800 into a Multi-Million Dollar Business
My co-host of the first Land Geek podcast, Jeran Fraser started with only $800 and turned it into a multi-million dollar business. (Do you remember that podcast? If not, you can listen to the archive [...]
8
118

Challenges Of A Land Investor—Feel The Fear And Keep Taking Action

click photo for more information
Challenges Of A Land Investor—Feel The Fear And Keep Taking Action
What are some of the biggest challenges in the beginning stages of land investing? After attending a recent entrepreneurial seminar, Scott Todd witnessed the struggles of bootstrappers who are spe [...]
1
372

How I Earn High and Passive Income From Rental Properties

click photo for more information
How I Earn High and Passive Income From Rental Properties
Jussi Askola writes in Seeking Alpha, “Rental properties are very popular among income investors and retirees. How do I know? All my rental-related articles receive a lot of comments and attention. [...]
1
103

181 – How To Get Unstuck

click photo for more information
181 – How To Get Unstuck
How To Get Unstuck Feeling stuck? Lots of people stuck these days when getting started (or while staying started) but you don’t have to stay that way.  I know a large number of people stayed on th [...]
3
110

How To Create A Business That Runs Like Clockwork

click photo for more information
How To Create A Business That Runs Like Clockwork
Author and serial entrepreneur Mike Michalowicz joins us today to talk about the basis behind his newest book, Clockwork. You might have heard us mention Mike’s previous book, Profit First, once& [...]
4
491

Land Buying Pro-Tips For Offer Pricing

click photo for more information
Land Buying Pro-Tips For Offer Pricing
Are you struggling with pricing when mailing out your offer letters? You’re not alone! It’s a struggle with many when starting out in the business or even those moving into a new county. [...]
8
572

How To Create A Passive Income In Real Estate Without Renters, Renovations or Rodents

click photo for more information
How To Create A Passive Income In Real Estate Without Renters, Renovations or Rodents
Are you cursed with Solo Economic Dependency? That is, if you aren’t working, you aren’t making any money — trading you time for money. Traditional real estate has been a phenomenal strategy to [...]
2
101

180 – How To Deal With Emotional Realtors and Their Sellers

click photo for more information
180 – How To Deal With Emotional Realtors and Their Sellers
How To Deal With Emotional Realtors and Their Sellers In this episode I discuss tips on how to deal with emotional Realtors and their sellers.  This came from a Facebook post where a listing agent w [...]
6
91

What You Need To Know About Good Business Practice Through Hard Lessons

click photo for more information
What You Need To Know About Good Business Practice Through Hard Lessons
Business consultant Josh Patrick has done it all when it comes to business. And today, he joins us to share his expertise along with some of the biggest lessons he learned for running a great busines [...]
5
498

Facebook Marketing Frustrations—Dealing With Trolls And Troublemakers

click photo for more information
Facebook Marketing Frustrations—Dealing With Trolls And Troublemakers
If you have ever tried to sell something on Facebook, you’ve probably ran across some sort of annoyance, usually it’s a someone whose only goal is to ruin your day. How do you deal with [...]
8
605

Dangers of Unpermitted Improvements

click photo for more information
Dangers of Unpermitted Improvements
Do I really need a Building Permit? This is a question many people may ask themselves when planning alterations to their home. They are just rolling the dice if they don’t pull building permits. The [...]
3
132

179 – How Can I Profit From This?

click photo for more information
179 – How Can I Profit From This?
How Can I Profit From This If you are not asking yourself this question each and every time you stop to peek at a shiny investment opportunity you are doing yourself an injustice.  In today’s worl [...]
2
140

Purchase to Profits Show with Seth Ferguson and Tyler Sheff

click photo for more information
Purchase to Profits Show with Seth Ferguson and Tyler Sheff
I was on the Purchase to Profits Show recently and the episode went live recently! Click here to give the interview a listen. The Mother of All Cashflow Deals with Tyler Sheff Purchase to Profits wit [...]
4
118

Trading In The Pharmacy Coat—How This RE Investor Broke Free Of The 9-5

click photo for more information
Trading In The Pharmacy Coat—How This RE Investor Broke Free Of The 9-5
Stuart Gethner—Pharmacist turned real estate investor, instructor, and coach joins us on The Art of Passive Income to talk about why he left pharmaceuticals in the past to start living life for hims [...]
6
483

The Best Practices For Selling Land On Facebook

click photo for more information
The Best Practices For Selling Land On Facebook
Facebook is a great marketing tool. It’s a fast and easy way to connect with potential buyers. You can even collect down payments straight from messenger. But, are your ads at their maximum potentia [...]
1
482

178 – Don’t be Fooled By Doors Over Dollars

click photo for more information
178 – Don’t be Fooled By Doors Over Dollars
Don't Be Fooled By Doors Over Dollars What is more important?  Doors or Dollars?  This mindset can cause lack of focus on profitability, and when we lose focus, we lose money!  People with lots of [...]
1
151

The No Ask Approach To Private Money Lending

click photo for more information
The No Ask Approach To Private Money Lending
Today’s guest, Jay Conner is known as The Private Money Authority and he is here to teach us his “no ask” approach to raising money from private lenders for real estate investments. [...]
1
606

Time Versus Money—What Is Your Time Worth?

click photo for more information
Time Versus Money—What Is Your Time Worth?
When you’re first getting started in this business it’s necessary for you to do all angles of the business yourself, both for knowledge and financial reasons. But as your business starts to ta [...]
1
517

177 – Where Do I Fit In This Game

click photo for more information
177 – Where Do I Fit In This Game
Where Do I Fit In This Game This week I discuss where you, the aspiring investor fits into the game of investing.  I talk to many people each week who respond to the opportunity to get on a call wit [...]
1
162

Wealth Strategy Secrets Of The Ultra-Wealthy

click photo for more information
Wealth Strategy Secrets Of The Ultra-Wealthy
Our guest today, Dr. Buck Joffrey has the formula to wealth and he’s here to shed some light on Wealth Formula Banking and Velocity Plus. Dr. Joffrey is board certified surgeon, a best-selling f [...]
1
619

Truth About Retiring Early

click photo for more information
Truth About Retiring Early
Few of us can retire at 35 and live for the next 45 years just playing golf and traveling the world, or even living on an island with our feet in the sand enjoying the sun. However, many of us do drea [...]
1
172

The Proper Way To Wholesale—Double Your Money In 21 Days Or Less

click photo for more information
The Proper Way To Wholesale—Double Your Money In 21 Days Or Less
There are many advantages to wholesaling land, but do you know the proper process so it’s a win win for both the buyer & the seller? In this week’s Round Table discussion, Mark and Team Ge [...]
1
720

176 – Offer Accepted – How to get to Yes

click photo for more information
176 – Offer Accepted – How to get to Yes
I find it troubling that investors waste countless hours preparing and delivering offers only to have them quickly dismissed or flat out rejected without any feedback on why the rejection was necessar [...]
0
180

She Keeps It Real In Real Estate—What You Need To Know About JV Partners

click photo for more information
She Keeps It Real In Real Estate—What You Need To Know About JV Partners
Real Estate Investment Coach, Edna Keep joins us on today’s episode of The Art of Passive Income to talk about multi-family investing and the power of leveraging other people’s money! Edna [...]
1
559

Virtual Assistants Assistance—Should You Buy Or Rent Your Team?

click photo for more information
Virtual Assistants Assistance—Should You Buy Or Rent Your Team?
When it comes to hiring VAs, should you rent or buy? Do you pay a premium and rent VAs that have already been trained in the business saving you considerable time and headache. Or do you prefer to [...]
1
616

Tips to Increase Income and Not Work More Hours

click photo for more information
Tips to Increase Income and Not Work More Hours
Looking for tips to increase income and not work more hours? If so, you’re not alone. According to CNN, millions of people are constantly looking for ways to increase their income. The good news i [...]
1
241

175 – Quick and Easy No Money Down Secrets

click photo for more information
175 – Quick and Easy No Money Down Secrets
Quick and Easy No Money Down Deals – Part 1 This week I talk about quick and easy no money down deals, in fact I am writing an ebook on this very topic which will be available in the next few [...]
1
161

World-Class Land Investor Who Makes Money On The Fly

click photo for more information
World-Class Land Investor Who Makes Money On The Fly
Our guest, Austin Krajicek, is not only a current coaching client, he is also a professional tennis player who travels the world and ranks #39 in doubles… and he joins us today to talk about hi [...]
1
704

Working In Saturated Counties—Should You Move On Or Put On Your Fisherman Hat?

click photo for more information
Working In Saturated Counties—Should You Move On Or Put On Your Fisherman Hat?
Can a county become too saturated? It’s a topic that comes up often. More specifically, there is an area in CO with a lot of investor activity, does that mean you should look elsewhere or throw in y [...]
1
683

174 – Crowdfunding Lessons with Private Money Rockstar Jillian Sidoti

click photo for more information
174 – Crowdfunding Lessons with Private Money Rockstar Jillian Sidoti
Crowdfunding Lessons with Private Money Rockstar Jillian Sidoti This week I interview Private Money Rockstar Jillian Sidoti who is one of the country's leading experts on Regulation A+. (Regulation [...]
1
178

A Bucketful Of Bliss—Real Estate Strategies Of The Blissful Investor

click photo for more information
A Bucketful Of Bliss—Real Estate Strategies Of The Blissful Investor
Taking the stress out of buy & hold real estate with The Blissful Investor, Moneeka Sawyer, on today’s episode of The Art of Passive Income. Our motto here at The Land Geek is No Renters, No [...]
2
636

Craigslist Struggles—Why Your Ads Won’t Stick

click photo for more information
Craigslist Struggles—Why Your Ads Won’t Stick
Do your land ads keep getting flagged on Craigslist? It’s all about location! Join Mark and Team Geek: Erik PetersonAaron WilliamsMimi SchmidtScott Todd …as they dive deep into the [...]
0
715

173- How To Buy Houses The Simple Way with Amanda Young Part 2

click photo for more information
173- How To Buy Houses The Simple Way with Amanda Young Part 2
How To Buy Houses The Simple Way With Amanda Young And Tyler Sheff Part 2 In this episode I continue my interview with Amanda Young and learn more about how this single soccer mom goes about buying h [...]
3
215

Everything You Need To Know About Cash Flowing Gold And Silver

click photo for more information
Everything You Need To Know About Cash Flowing Gold And Silver
We talk with Minesh Bhindi, CEO of Gold And Silver For Life. Minesh is a wealth manager who has been helping people generate a monthly cash flow income through gold and silver since 2010 and has c [...]
1
687

3 Reasons Beginners SHOULD NOT Flip Houses

click photo for more information
3 Reasons Beginners SHOULD NOT Flip Houses
Matt Faircloth, founder of The DeRosa Group, writes “New investors seem to really love the idea of flipping houses. (Thanks, HGTV.)And I get it. It seems glamorous. It seems simple. It seems like i [...]
0
175

Finding Focus—Cutting Through The Weeds Of Your Land Investing Business

click photo for more information
Finding Focus—Cutting Through The Weeds Of Your Land Investing Business
Finding Focus—So often in this business we see people who get hung up and hyper-focus on the little details that aren’t doing anything to help their businesses grow. How do you reset that mentalit [...]
1
914

Brecht Palombo from Distressed Pro Podcast hosts The Cashflow Chick

click photo for more information
Brecht Palombo from Distressed Pro Podcast hosts The Cashflow Chick
Raising capital for your next Note Investment can be hard. On this episode, we have Paige Panzarello, The Cashflow Chick, teaching us how she finds funding for herself and her clients. Paige has raise [...]
1
355

172 – How To Buy Houses The Simple Way with Amanda Young

click photo for more information
172 – How To Buy Houses The Simple Way with Amanda Young
How To Buy Houses The Simple Way with Amanda Young In this two-part episode I sit down face to face in the studio with a local investor Amanda Young.  Amanda has been investing for many years now, b [...]
1
249

Finding The Courage To Rewrite Life After Success

click photo for more information
Finding The Courage To Rewrite Life After Success
What happens when you climb to the top of the finance food chain only to discover it’s not what you were hungry for? That was the story for today’s guest, Alex Grodnik—Wall Street Oasis. [...]
1
832

Buying Notes and Deeds

click photo for more information
Buying Notes and Deeds
If you’re a real estate solutions company buying properties for cash, try adding another arrow to your quiver by buying notes and deeds. Notes and deeds can be far more profitable, and less stressfu [...]
2
184
load more posts