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Blog
A few updates to take notice of:
Thursday, 30 April 2009 00:00
For me it is like the smell of coffee brewing in the morning and having that first sip. I take a deep breath, relax and I can't wait to start the day and see what is in store. I am not saying it is all roses, let's be realistic, but it is an adventure.(1) prepared by an appraiser employed by:
(a) the lender;
(b) an affiliate of the lender;
(c) an entity that is owned, in whole or in part, by the lender; or
(d) an entity that owns, in whole or in part, the lender.
(2) prepared by an appraiser
(a) employed,
(b) engaged as an independent contractor, or
(c) otherwise retained by
Want to read the whole document click here.
What does this really mean...appraisers will be pulled from a "blind pool". The concern is that the appraiser may not have the specialty knowledge required to appraise an area, a style of property (for instance a property that is residential and commercial, farms, ranches, etc.) or may be a mediocre appraiser. Many of us feel that this will seriously affect the sellers in this market and can stop some closings.
LET's have a coversation about this. I know this ruling is new but what are your thoughts. Have you seen any difference yet?
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IRS Email Scam Alert
Wednesday, 04 March 2009 10:14
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IRS E-Mail Scam Warning
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The Internet criminals just will not stop. Over the past couple of weeks clients have forwarded several e-mails supposedly from the IRS like the one below (we deactivated the link in it). PLEASE NOTE the IRS will never initiate contact with you via e-mail.
From: Internal Revenue Service [mailto:service@irs-usa.com] After the last annual calculations of your fiscal activity To access the form for your tax refund, please Click Here
Sincerely Yours, IF you recieve any e-mail from the IRS do not click on the links. Just delete the e-mail. Check out more information from the IRS on these kinds of Scams by clicking here IRS Scams The most interesting part of this is the amount of words that are spelled wrong! Information provided by Taryle and Associates CPA's |
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Rich Dad E-Book
Wednesday, 04 March 2009 09:47
READ ROBERT KIYOSAKI'S FREE E-BOOK:
Robert Kiyosaki, author of the #1 bestselling personal finance book of all time, Rich Dad Poor Dad is taking a new approach with his next book. He's releasing the book, Conspiracy of the Rich: The 8 New Rules of Money, online - for free. And he's inviting readers to participate in the writing process.
Conspiracy of the Rich: The 8 New Rules of Money, will be an interactive project in which Kiyosaki will not only offer his written 'draft' chapters online, but invite feedback, commentary and questions from readers across the globe via website forums and blogs. Reader feedback will then be incorporated into the book as it is written and released, chapter by chapter, on the Internet. This bold and unique approach will enable the millions of people around the world who have put the Rich Dad principles to work in their lives - as well as those who are challenged by today's harrowing economic times - to engage directly with Kiyosaki and literally help him shape his new book as it is being written.
"We are living in tumultuous, unsettling and frightening economic times," said Rick Wolff, Vice President and Executive Editor for Hachette Book Group, publisher of Rich Dad Poor Dad and the 26 books in the Rich Dad series, "and Robert believes that people today, perhaps more than ever before, are hungry for information and financial education. The fact that he is committed to writing and distributing a new book to the world for free is amazing to us, and indicative of his genuine concern for the challenging economic times in which we live. Today, more than ever, the world needs a voice they can trust and someone they can rely on to deliver the cold, hard facts about what is really happening in the world."
"This is the right book, at the right time, at the right price," says Kiyosaki, in reference to the free and universal access to this book. "This is not the time for traditional answers. The time for this book is now - and the Web will let us do that."
About the Book:
Conspiracy of the Rich: The 8 New Rules of Money will share Kiyosaki's view of global economics and explore why people are now finding themselves challenged by these turbulent times. Kiyosaki will not only provide people with solutions to their financial problems, but explain what created today's economic chaos - and how it can be eased. Conspiracy of the Rich: The 8 New Rules of Money will reveal that what appears to be the worst of times is actually an opportunity in the making, and a chance for people to invest in their financial education.
Read an excerpt from the book:
Information provided by Garrett Sutton and contributor to the Rich Dad Series
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Credit Blog
Wednesday, 04 March 2009 00:00
When was the last time you thought about your credit?
Like many of you I listen to webinars trying to keep up with the industry especially in these economic times.
"I have to share" : The other night I listened to a webinar on credit. I know a lot about how credit works, it is after all, the lifeblood of an investor, but I have noticed a change. The Credit Card and Mortgage Companies are constantly calling, my limits are being lowered, and a lot of the rewards programs are diminishing even though I am paying on time. So I was very interested in what would be discussed in the webinar.
Jeremy Roberts was the presenter and clearly stated at the beginning that these are his opinions, but he has been in the business of helping people with their credit for many years.
First he provided the break-down of how your credit is determined:
40% is based on your payment history
- Are you making your payments on time
- Have you ever been 30, 60 or 90 days late
and how many times
32% is based on revolving credit history
-How much credit you have
18% is based on the length of established credit
- it is crucial that you do not close your accounts
- your credit score is based on all available credit
vs. all credit debt
10% is based on new credit
- it is important to continue to grow your credit
Helpful Tips:
*Have several credit cards; doesn't mean you have to use them, but have them so that your total available credit is high.
*If you make around $50K a year, try to have 4 credit cards. If you make $100K a year you should have more than 6.
*Don't put everything on one card; spread the charges out and keep the balance under 50% of the available credit as this will help your score. Don't ever use all the available credit on one card even if you pay off the full amount each month; it will still hurt your credit score during the month it was maxed out.
*If you have a card that is about to expire, the credit card company may not send you a new card and close the account because of "lack of use". Do not let them do this. Mark on your calendar when your cards are to expire and make sure you call them and ask for new cards.
*Keep in contact with the credit card companies, loan companies, and mortgage companies. Everytime you call they capture that in their computer system. They are more willing to work with people who are in communication with them.
*Pull your credit report every month and work hard to remove all negative items. Keep copies of all the paperwork that was provided in order to remove the negative remarks from your credit in a folder as they may reappear on future reports.
*Every Quarter try to get your credit limit increased and your interest rate lowered.
This may seem like a lot of work but these days everyone from employers, insurance companies, banks, cell phone companies and even utility companies look at your credit to determine...how risky you are.
Now what are the credit card companies doing?
I couldn't figure out why the credit card companies where lowering my available credit limit even though I either paid off my cards each month or made above the minimum payments on time each month.
The answer...
Credit card companies are hurting. Today Capital One reported huge loses and expects it to get worst for 2009. A way for them to capitalize is to lower the available credit; in turn this hurts your credit score, which means they can charge you a higher interest rate because you are now considered risky. Yes you read that right... It does not matter if you are a great client they need to get those interest rates up! Also, consumer beware! I don't know if you have noticed but many credit card companies do not give you a grace period to pay your bill. If they do not receive payment on the 1st you are late.
It is vital that you start looking carefully at your credit. Don't throw your hands up and not use your credit cards because that will hurt your credit score as well. We as consumers just have to pay more attention!
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Welcome to the New Site
Tuesday, 03 March 2009 00:00
Welcome!
We at The Foresthill Group are proud to announce our NEW website. We have been working hard on adding new features and content that "you" requested.
As the market changes so must our investment strategies. Our team has re-focused its efforts on foreclosures, REO's, and Short Sales. We have a team in place representing properties in California, New York, Ohio and Florida.
The Go Zone will be running out at the end of the year so we have a few projects in which you can get that fantastic bonus depreciation. If you don't know about the Go Zone we have all the information for you.
Looking for a longer term investment? Our company feels strongly that there is a short supply of Assisted Living Facilities due to the huge amount of Baby Boomers coming into the market. We are continuing to look for funds for specific projects or for our Sante' Fund.
Most importantly we are here to help. Our company is offering free educational webinars, mentoring programs and coaching programs.
Please put the site through it's paces and let us know if you find any problems. What will you get for helping us out? A chance to win $250 in Free Gas. That's right free gas! You must enter by April 6th.
We all look forward to hearing from you and let's make 2009 a successful year!
To your success,
Lisa Marston, President
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