Mortgage Market News - Phoenix, AZ

Just wanted to let everyone know that I have just launched a new meetup group for my real estate investment group here in Arizona. We meet every week on Thursdays in Scottsdale, but you need to register by contacting me for the location.

Also, if you are in another region, we have associates in nearly every state, so let me know if you want to connect with the fastest growing real estate investor community in the country!

Contact me meeting locations in the valley.

I look forward to seeing you there!

Anthony

Many people still have Adjustable Rate Mortgages and they are waiting for the ideal time to refinance. Recently, we have seen rates go up, and it's certainly hard to predict the future so it makes sense to look at the whole picture long before you are ready to refinance.

Consumers Advantage Mortgage is offering FREE ARM Audits which can show you how to not only get refinanced without "junk fees", but most of all put you on track to pay off that new mortgage in 1/3 to 1/2 of the time than you would traditionally. Companies are charging hundreds of dollars for these, but at Consumers Advantage mortgage, we give you the advantage - all of the time. Visit http://www.atozlender.com/arm-audit.htm to register for a free mortgage audit today!

With the Federal Fund Rate dropping back down to near record lows, many people are asking if it makes any sense to try and leverage this rate to pay off their first mortgage. At first glance, my thought was that that Home Equity rates are too volatile to try and risk it, but after learning and understanding how money merge accounts work, it makes a lot of sense. Before you go out and get a Home Equity Loan to replace your first mortgage, you need to know that it is not advisable to use a Home Equity Loan in that manner.

So what should you do? Unless you are a math or computer whiz and can calculate daily interest up against paying down a mortgage and balancing your other debts, you will need software to do this. Even if you are a math or computer whiz, my guess is that your calculations just won't compete with the software that has been created and continually updated by a team of mortgage finance experts. I have looked at many of the companies out there that sell software to help you do this, and I settled on The Money Merge Account (MMA) by United First Financial after seeing one of their presentations. Until you see it, you may have trouble wrapping your traditional thinking around how it works.

Even better, U First's MMA Software can help you reduce your mortgage not only on you primary residence, but on a second home, or investment property. If you want to learn how to use a Home Equity Loan to pay off your primary mortgage in 1/3 to 1/2 of the time without refinancing, then you need to visit http://www.MortgageZapper.com or call me at 800-453-9290.

Making offers on real estate only comes into play if you can find properties to make offers on. Here are some resources that might help you find your next deal.

1. Traditional Classified Ads. This is a tried and true method. Search local and regional classified ads looking for words such as divorce, forclosure, pre-foreclosure, short sale, lost tentant, probate, etc. as keys to sellers willing to negotiate.

2. Online Classifieds. Your local paper should have an online ad section, but there are also lots of great free ad sites such as craigslist.com and backpage.com which have lots of real estate listed for sale.

3. Banks. They have plenty of inventory right now, and considering they don't want to be in the real estate business, they might be willing to make you a deal. Here is a free list of bank REO listings: http://www.bankownedassets.com Keep in mind however, gone are the days of banks giving away foreclosures without having to qualify. They took a loss once so their criteria will be tighter second time around.

3. Learn How to Find Pre-foreclosure Properties. Most of them won't be listed, but there are several strategies to finding them. Here is a course that can help you learn the ropes: http://www.bankownedassets.com/pre-foreclosure

4. Subscribe to Local Property Listings. You can subscribe to the #1 Local Foreclosure Listing service and get up to date emails with local foreclosure listings here: http://www.bankownedassets.com/nationwide-foreclosure-listings.htm

5. Local Real Estate Professionals. Your local real estate agent should know more than the average Joe about what is available in your neighborhood, whether it's on the market or not. Find a local real estate agent here: http://www.atozlender.com/real-estate-agent-referral.cfm

Lastly, here is a free publication you might enjoy on the subject. It's called "How to Buy a Home at a Discount". It is a free download (no registration, no email required): http://www.bankownedassets.com/dl/discounted-homes.pdf

I hope this helps you find your next home at a way below market price. Should you need help obtaining financing for it, please feel free to contact me at 800-453-9290 and I would be glad to help you.

Happy House Hunting!

~ Anthony

Many years ago a successful real estate investor shared with me the two words that are critical to success in real estate investing. Do you know what they are? "MAKE" "OFFERS"

In order to get the deals, you have to be out making offers on properties. I recently joined a real estate investment group here in Arizona which ofers training ro would-be real estate investors. Although the courses were even enticing to me, I realized that I had the knowledge, experience, and resources, but need to put those two words into action.

Just a few weeks after joining this real estate investment group, I have spoken with several property owners in my attempts to make offers and build my real estate portfolio. It's a great time to buy - even if you don't have your own money - because prices are so low in many markets such as mine.

If you want to learn more secrets to investing in real estate, please check out one of the free local or online seminars hosted by my real estate investment team. Visit http://www.azrebsi.com/rei-webinar.php for more info or to register for a FREE real estate investing seminar.