THE EQUITY AGREEMENT program

As you know, Bill and I are dedicated to your success – especially during this insane market. Have you been keeping up…the DOW is up, the DOW is down, the government is bailing us out, the car companies want money now, we have a new president, and it just goes on and on. Personally, I’m ready to shoot the TV smile.

I looking forward to watching Christmas shows that bring back childhood memories – Rudolf the Red Nosed Reindeer, The Grinch, Charlie Brown’s Christmas, White Christmas, and the rest of the old shows smile. I just want to give my brain a rest from all the negativity. As we all know, life goes on and so does our exciting business. The only thing I like about the news anymore is that it excites me to see the possibilities our business can take. As the market crashes further, our business grows daily…

We are really excited about the next call. We are going to teach you how and why to use:

THE EQUITY AGREEMENT

You will learn the top 10 reasons why this agreement will keep you from a lawsuit. Sadly, slimy investors come out of the woodwork during times like these. It is our responsibility to treat the homeowners fairly and with dignity. We have done over 500 deals using this agreement and have not had one homeowner who was unhappy. It is an agreement to agree and goes beyond the Sales Contract.

REGISTER RIGHT NOW FOR OUR CALL ON

THURSDAY, DECEMBER 11, 2008 AT 6:00 PST, 7:00 MST, 8:00 CST, 9:00 EST

Register Here (* required fields):

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Here is what you can expect to learn…

HOW TO AVOID BEING CHARGED WITH EQUITY SKIMMING

In addition, take a look at what else we will cover…

  1. What are the three things homeowners want?
  2. The mindset of the homeowners – what mode they are in and how to recognize it.
  3. What do the homeowners sign?
  4. Where do the homeowners sign everything and when?
  5. The ultimate “agreement to agree” – your biggest asset in this business.
  6. Why do we use it?
  7. When we use it and when we don’t.
  8. Should the homeowners stay or go?
  9. Why would we put things in writing with someone so volatile?
  10. Covering your back!

There are two variations of equity skimming, both of which not only result in the borrower losing their home, but much of their cash, too.

In both situations, the investor convinces the borrower to sign over the deed to the property with the belief that the investor has a legitimate plan to straighten things out.

One of two things happens next:

  • The homeowner stays in the house paying rent to the investor.
  • The homeowner moves out and the investor rents the house to another party.

In either scenario, the investor collects rent, but doesn’t pay the mortgage (as originally promised).

The result: The mortgage defaults, the house goes into foreclosure, and the investor skips off with the cash.

When news like this hits the front page of the Internet, every investor in America is under scrutiny. Being on this call, will keep you above and beyond the letter of the law. Friends, you can’t afford to have any problems in a market like this.

Register right now for our next call…

THURSDAY, DECEMBER 11, 2008 AT 6:00 PST, 7:00 MST, 8:00 CST, 9:00 EST

We only have 200 lines and every call has been sold out. This one will fill up today, so register now.

Register Here (* required fields):

First Name*
Email*
Phone
Fax

 

From the Heart,

Bill and Dwan Twyford

PS – if you have an extra minute, read this description of EQUITY SKIMMING from the HUD website. If this doesn’t scare you, nothing will! www.hudclips.org

 

U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
WASHINGTON, D. C. 20410-8000

OFFICE OF THE ASSISTANT SECRETARY FOR
HOUSING-FEDERAL HOUSING COMMISSIONER
Mortgagee Letter 85-21

TO: ALL APPROVED MORTGAGEES
SUBJECT: Equity Skimming

I am particularly concerned about the recent recurrence of a scheme to defraud FHA mortgagors and the Government out of their interest in FHA-insured home loans. Our Inspector General has identified a series of instances where unscrupulous investors have set up schemes to prey upon homeowners in financial difficulty through “equity skimming.”

We need your help to alert FHA mortgagors to the dangers these schemes pose. Your effective loan servicing is the indispensable first line of defense to prevent these frauds. Timely contact with homeowners in financial trouble is beneficial to all.

We have prepared the attached notice to alert homeowners to this very real problem. Please send a copy of this notice to all mortgagors who are presently in default and who owe at least two full payments. This is meant to be a one-time mailing to those mortgagors who are now in this stage of default. However, we would encourage each mortgagee to provide the notice or the information therein to mortgagors who may enter a default status in the future.

We plan to include this information in the pamphlet entitled, Avoiding Mortgage Default (HUD-426(PA)), which mortgagees are required to furnish mortgagors in default.

Since equity skimming on FHA-insured mortgages is a Federal crime, I also urge you to report instances of it that come to your attention to the HUD Inspector General. Your cooperation in this effort is appreciated and will, I am sure, directly benefit all parties.

Sincerely,

Janet Hale
Acting General Deputy Assistant
Secretary for Housing-

Federal Housing Commissioner

Attachment

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
WASHINGTON, D.C. 20410-8000

OFFICE OF THE ASSISTANT SECRETARY FOR
HOUSING-FEDERAL HOUSING COMMISSIONER

A MESSAGE FROM THE FHA COMMISSIONER:

“Beware of False Promises”

Please read this and be aware of possible schemes that could cause you to lose your home, your equity and/or your credit rating.

Recent investigations revealed an “equity skimming” fraud scheme which targets homeowners. Homeowners trying to sell their homes on their own are sometimes in a hurry to sell because they are having financial difficulty. Although the first offer may be perfectly legal and to your satisfaction, be alert to the following examples of how some “buyers” may take advantage of you:

  • A “buyer” approaches homeowners and offers to get them out of trouble by promising to pay their mortgage payments or promising them a large sum of cash when the property is sold. This “buyer” often suggests that the homeowner move out immediately and that they give them the title to the property (meaning the buyer would own the property). This is usually done by using a “quit-claim deed”. A “buyer” may also offer to let the homeowner stay in the property or, if they leave, rent it to someone else.
  • The “buyer” collects monthly rent, does not make any mortgage payments, and allows the lending institution to foreclose.
  • The homeowners believe that they will avoid possible foreclosure by signing over the property to the buyer. In addition, they believe that they no longer have to make any further mortgage payments to the mortgage company, when in fact, they still do.
  • In the end, the homeowners have lost everything except any small down payment from the “buyer” and may have lost a good credit rating. By the time the lending institution gets around to evicting the homeowner or tenants, as the case may be, the “buyer” has made a profit at the original homeowners’ expense.

Homeowners can avoid being victimized by watching for the following warning signals:

  • The prospective buyer does not look closely at the house; but just takes a quick look around and makes an offer right away.
  • The prospective buyer does not put up any money, just gives the homeowner a piece of paper, which, in so many words, is an I.O.U.
  • The buyer offers a relatively small sum of money as a down payment and promises more when the house is resold.

You can avoid being victimized by taking the following precautions:

  • Check any deal involving your home mortgage with a lawyer and/or your mortgage company.
  • Try to get references and credit information from anyone who offers to bail you out of financial trouble.
  • Check with the state Real Estate Commission or the local district attorney’s consumer fraud unit to see if there are previous complaints filed against the prospective “buyer”.
  • Don’t sign any papers unless you understand what they are. Sometimes homeowners have signed away the deed to their homes because the “buyer” told them the papers were something else.
  • If you sign an agreement, make sure you get all the “promises” in writing.

Homeowners with financial difficulties are vulnerable to the so-called “quick fix.” But, if you want to save your home, don’t be fooled by the equity skimmer. Seek guidance and assistance from reputable and concerned parties.

IF YOU BELIEVE YOU ARE BEING DEFRAUDED, CONTACT YOUR LENDER, OR THE
HOUSING AND URBAN DEVELOPMENT OFFICE NEAREST TO YOU.

*U.S. Government Printing Office: 1985–529-801