Ilyce Glink Show Notes – August 1, 2010
Foreclosure, Loan Modification Hell, Economic Security Index, Refinancing
The ticket window is open for our latest event: How To Profit From Foreclosures and Other Real Estate Investments which will be held on October 2, 2010 at the
The EARLY BIRD ticket price is now available – but it won’t be here for long. Right now, you can buy a ticket at the early bird price of $35. There are no other discounts. This is the lowest price you’ll pay for a ticket to this event. After the early bird window closes, the price for these tickets will go up.
Wondering if it’s worthwhile to attend the event? Wondering if you’ll get your money’s worth. Here’s what past attendees say about ThinkGlink/RealWorldSeminars events.
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Buying a House? Pick up your copies of Ilyce’s books, 100 Questions Every First-Time Home Buyer Should Ask and Buy Close Move In!
Heather called the show today. She said she and her husband wanted to buy a house and were told that they could afford up to a $150,000 mortgage. But they didn’t know if they could afford it. There are so many things that go into affordability: mortgage, property taxes, insurance, maintenance, upkeep, etc. I told Heather to start by figuring out where she and her husband spend their money each month and work from there.
She, and all other first-time buyers, would benefit from taking a look at various chapters in my two books:
More Americans Are Financial Insecure After The Great Recession
The Rockefeller Foundation recently released its latest Economic Security Index. The Index found that 20 percent of Americans have seen their income fall 25 percent or more, usually from a combination of lower income and less generous benefits – in other words, as their real income has declined, their share of health care costs is rising. This is the highest percentage of economically insecure Americans over the last few recessions.
Want to know more? Download the Rockefeller Foundation’s Economic Security Index report for FREE!
75% of Nation’s Top Metro Areas Posted an Increase in Foreclosure Numbers
RealtyTrac announced foreclosure numbers for the first half of 2010 this week, and the numbers are grim.
Seventy-five percent of the nation’s top metro areas posted an increase in foreclosure numbers. The numbers are awful: there were 1.654 million foreclosures in the first half of 2010, up 8.3 percent from 2009.
RealtyTrac says two things are going on: First, the number of foreclosures in the second quarter is slowing because lenders are doing more short sales and loan modifications. Second, lenders are clearing out the backlog of foreclosures from 2009.
“While we’re seeing early signs that foreclosure activity may have peaked in some of the hardest-hit markets, foreclosures continued to rise in three-quarters of the nation’s metropolitan areas in the first half of the year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The fragile stability achieved in many local housing markets hinges on improvements in the underlying economy, specifically job growth. If unemployment remains persistently high and foreclosure prevention efforts only delay the inevitable, then we could continue to see increased foreclosure activity and a corresponding weakness in home prices in many metro areas.”