Question: Is there someone who are interested in foreclosed properties in japan?

I want to make website that inform about foreclosed real estate in japan.even foreigners can purchase japanese real estate cheaper than other way.when foreigner come to japan,they try to rent a apartment.but there are a lot of landlords who reject foreigners.because some foreigners do not keep rules.but, if you buy a apartment,no one oppose it.
and in japan, when we purchase real estate we hire agent.but they charge a lot of money.in general,they charge you 5 percent of real estate price.but when you buy properties in action managed by court house, you do not need agent and you can buy it at reasonable price.
what do you think my idea?are you interested in foreclosure in japan?

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Answer: It's very brilliant idea actually, but is important for you to make an agreement with the owner of that propertiy(s) in order to the buyer not contact directly with the legal agents of the party(s) of that properties. Because, when you build that website, you must put the address of that properties including office or agents. It's better you make agreement for example : take only 2% from real estate price ( making agreement with general marketing manager of real estate ) or if they will not accept your propocal, try to make agreement with seller ( agents ). But I havean an idea, try to build a website and asking sponsorship is better and not spend the time. Good Luck, My Friend..

451 GDI is the perfect business for me. It is so simple.

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The housing market is in serious need of stabilizing. People wages are going down, housing prices are going down and house payments are going up. These costs must be brought in line with rental payments or those facing foreclosure will and are opting to dump their houses for the lower cost of housing, i.e., renting.

There is not a lot of incentive to continue making payments on a house that is upside down on the mortgage payments.  Especially if the homeowners are financially distressed.

The whole idea is if the homeowners' payments can be brought inline with the rental market they will stay in their home before opting to move into a smaller home for the same housing payment. Even if the the value of the home is less than the mortgage, given the history of real estate the home's value will eventually rebound, putting the homeowners back in a favorable equity position.

It becomes a win-win situation for both the homeowners and the lenders they can avoid mortgage foreclosure process.

However, if you have been the unfortunate victim of losing your income with no reasonable expectation of recovering it you may have no choice but to downsize your housing wants and move into something to cover your needs. Of course, this is just until you are back on your feet. A temporary thing.

HAMP modifications:

to be eligible a mortgages have closed before January 1, 2009 
modifications end December 31, 2012
only owner-occupied homes qualify
no vacant or condemned properties
upside down loans are not exempt
financial incentives given to lenders to modify loans that are NOT in default if the borrower can prove imminent hardship
homeowners can get bonus eligibility for annual principal reductions of $1,000 for up to 5 years mortgage payments have been made on-time
borrowers must sign an affidavit of financial hardship & a 4506-T
Lenders will follow steps to reduce monthly payments to no more than 31% of verified gross monthly income. Second mortgage & lines of credit are not included in this calculation
HUD-certified consumer debt counseling program will be required of homeowners with total debt payments over 55% of their income
 
Hope Hotline at 888-995-HOPE (4673), website http://www.hud.gov/offices/hsg/sfh/hcc/fc/

Homeowners in bankruptcy may still be eligible
foreclosure proceedings will be suspended for a period of 90 days to prove the homeowners can make the modified payments. If homeowner defaults on modification plan, they are not eligible for any additional modifications incentives given to lenders to allow short-sales or deeds-in-lieu instead of foreclosing
second mortgages and lines of credit may be extinguished (to be determined)
voluntary participation in the program for lenders, but participation will be required if they receive Financial Stability program funds. Private Mortgage Insurance (PMI) companies have agreed to work out settlements on modified loans.

Homeowners will not be be getting their mortgages reduced as a part of this program. Sorry, but you borrowed the money and the government is not looking to pay it back for you, just yet. But the way things are going, who can tell.

It might be cheaper to buy every defaulting American's home than do what they are doing. After all, if I had no mortgage payments to make, I might buy a new car. Made in Japan of course.

Procedures to reduce a home owner's payment to qualify:
Lenders may add to loan amount to be modified:

accrued interest
past due real estate taxes and insurance premiums
delinquency charges paid to third parties in the ordinary course of servicing and not retained by the lender
any required escrow advances already paid by the lender and any required escrow advances by the lender that are currently due and will be paid by the lender during the Trial Period
Late fees are not included
The interest rate will be reduced in 1/8% increments (subject to a floor of 2%) until the payment equals 31% of the home owner's income
extension of the term of the mortgage up to 40 years is allowed
The 40-year term begins at the start of the modification (after the borrower successfully completes the Trial Period).
 
IF necessary forbearance of principal is allowed. If there is a principal forbearance amount, a balloon payment of that forbearance amount is due:

on the maturity date
upon sale of the property
or upon payoff of the regular mortgage
the modified balance must be no lower than the current property value
there is no requirement to use principal reduction under the Home Affordable Modification program

These are most of the details most relevant to homeowners who might be in need of this program.

About the Author:

So if you are simply worried about your ability to keep up with your current payments...or if you are late making a payment...or your loan is due to reset to a higher payment...or if you are in default...there maybe a some help available through mortgage loss mitigation.
Download the Foreclosure Survival Handbook now and stop the mortgage foreclosure process before it is too late. For even more valuable tips go to Stop Mortgage Foreclosure Precess now.

Article Source: ArticlesBase.com - Avoid Mortgage Foreclosure Process With Obama's Home Affordble Modifications Program

We Buy Houses! 1-800-CashOffer on Japanese TV

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Question: How did the Japanese deal with all of the irrational mortgages during the "lost decade"?

During Japan's asset boom of the late 1980s, property values skyrocketed to unprecedented prices. In some areas of Japan, home prices were 100,000 per sq ft and buyers took out multi-generational mortgages that were underwritten to be payed off over 100 years! This madness was followed by a steady decline of property and asset values that continues today. Since I believe the bubble areas in the USA may mirror (to a lesser degree) the fate of those in Japan, I ask the following: When property values tanked after Japan's equity and asset boom, did the Japanese continue to pay the irrational mortgages even though real values declined 10-20 fold? Did they foreclose in masses? Did the banks and goverment subsidize the losses? Who absorbed the asset losses? I understand that artificial "propping up" of toxic banks has prolonged the suffering in Japan, but I have read nothing about Japan bailing out buyers.

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Answer: The people ended up absorbing the costs, and many of their banks failed, people lost their property and homes, and many people had a very very rough time. Their government tried to keep that all from happening and it did nothing but prolong the hurt.
Kind of like what happened here during the Great Depression, All of Roosevelt's ideas did nothing for the economy, it only prolonged the hurt that was happening. WWII got us out of the GD not the New Deal

TV Tokyo interviews 1-800-CashOffer about foreclosures

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Question: yield rate of real estate investment in united states?

we have business that we introduce foreclosed properties in japan.
now,we can get about 7 percent of yield in real estate investment in city area.
but we know that yield of national bond of united state is around 7 percent.
if this is true, american people will not invest in japanese property.
because, you can get 7 percent by safer investment in national bond.
if this is true, you do not have to take risk in japanese property.
is this true that you can get 7 percent from safer investment ?
Or investment in national bond of united states is risky than investment in japanese property ?

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Answer: The U.S. treasuries are earning about 3.5%, not 7%.

Hank Paulson readies the Rescue 'Bazooka' of Lending Giants Imminent: Treasury to bail out Fannie Mae Freddie Mac. Housing crash Hurts Retirement. China and Japan hail U.S. Mortgage Rescue as doubts linger Capital Concerns. Paulson to Control Foreclosures

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