TR-HNR-March-2019

HARD MONEY FOR REAL ESTATE INVESTORS SINCE 1997 CALIFORNIA & FLORIDA

BIG DATA SANDBOX

A total of 624,753 U.S. properties in 2018 received a foreclosure filing - default notices, scheduled auctions and bank repossessions - down 8 percent from 2017 and down 78 percent from a peak of nearly 2.9 million in 2010 to the lowest level since 2005. Overall 34 states including D.C. saw a decrease in foreclosure filings from last year, but there were still 16 states where foreclosure filings increased from last year. On average, foreclosure filings in those 16 states increased 23 percent from last year, clearly bucking the national trend. Foreclosures may be down across the nation, but some states are still experiencing an increase FORECLOSURES STATES THAT SAWAN UPTICK IN

6.9

100

% RATE

BIZ DAYS

% LTC

% RENO

Foreclosures may be down across the nation, but some states are still experiencing an increase e a n

APPLY at thenorrisgroup.com or (951) 780-5856

FOR RENT

FOR SALE

States Bucking the Trend States with the highest number of properties with foreclosure filings in 2018

REHABBER/FLIP PROGRAM

REHABBER/FLIP PURCHASE PRICE

REFINANCE/RENTAL PROGRAM

BUILD TO FLIP PROGRAM

Florida 65,161

Term

1 YR

3 YR 5 YR

1 YR

(1 year extention avail.)

9.9% 9.9%

8.9% 8.9%

6.9% 8.9%

10.9% 10.9%

Nebraska 1,951

Rate

Texas 39,809

Alaska 1,145

Mississippi 2,900

Georgia 18,737

West Virginia 1,094

Loan to Value

Up to 90% LTC & 100% Rehab

Up to 75%

Up to 65%

Up to 60%

Up to 65%

Up to 60%

Arkansas 3,613

Michigan 15,503

Montana 562

Future Value

Purchase Price

Loan to Value (LTV)

Minnesota 5,829

Tennessee 10,374

Vermont 428

Missouri 9,514

Prepay Penalty

South Dakota 247

None

1 YR

2 YR

None

Points

1pt 2pts

2pts 2pts

Experienced New

Fees

$1,095

METHODOLOGY

The ATTOM Data Solutions U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the year. Some foreclosure filings entered into the database during the year may have been recorded in the previous year. Data is collected from more than 2,200 counties nation- wide, and those counties account for more than 90 percent of the U.S. population. ATTOM’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month.

$375- $400

Appraisal

Managed by funds control. Cost varies based on draws.

Building Inspection

Inspection for repair releases.

N/A N/A

70% ARV Max.

Entities & Trusts OK in California.

Notes

Rental purchase program available. Call for details.

For build programs, investor must own lot free and clear and have approved construction plans and permits.

Entities & Trusts OK in California. Registered FL entity require for FL loans.

Registered FL entity required for FL loans.

We can assist with 1031 exchanges!

march 2019 35 * Loan rate assumes direct deposit. All loan programs subject to appraisal & vetting. See website for full details.

34 think realty housing news report

California DRE #01219911 l FL Mortgage Lender MLD1577 l NMLS #1623669

Made with FlippingBook Online newsletter