Greetings!

Wow, it's almost Christmas. Another year has flown by in the blink of an eye. It's been a great year for the note business, I thank you for your support.

The last month or so I have gotten a lot of questions from note holders who have never sold a note before. Basically, they wanted to know about the process - how does this whole selling and buying of a note work. Here is a small sample that may be of interest to you if you have never sold a note:

1. Question: I live in a different city and state than you. How do you handle the closing when I am so far away?

    Answer: We will close at the same Title company you used when you sold your property. Or, we can send the closing documents with an instruction letter directly to you, and you can sign them in front of a notary and overnight to us.

2. Question: How do I receive my funds?

    Answer: We will wire the funds to the Title company we are closing with, or send directly to your account.

3.Question: How does my buyer get affected when I sell my note?

   Answer: He does not. Remember, we are buying the terms you agreed to with him. The only change is where he sends his monthly payment.

4. Question: I understand the reason for discounting my note, but I don't like it. I like my buyer and the monthly income, but I am in a little cash crunch. How can I use my note to get the cash I need?

   Answer: Part of my job is to give you options when you want or need cash. You could consider selling a part of your note. Say you have 230 payments left, you could sell 50 or 100 of those payments, and then retain the right to receive all the remaining payments. Just compare this option to accessing other cash sources you have, then make the best decision for you.

5. Question: I really don't need the cash. Why should I sell my note?

    Answer: You shouldn't! Don't sell until you have better use of the cash. In the meantime, read my Newsletter and call me when you are ready.

"It costs the U.S. government nearly 2 cents to mint a single penny.".....2015 King Features Syndicate, Inc.

Overrun! 9 of 11 U.S. Cities Have More Renters than Homeowners

According to Harry Dent, 65% of Miami's residents are renters. Miami has the lowest median wage of any large U.S. city. Is this the New Bubble? Read this sobering article on our housing market.

Harry Dent, EconomyandMarkets.com, August 19, 2015.

"I didn't attend the funeral, but I sent a nice letter saying I approved of it."..... Mark Twain.

                        Foreclosures

If you live in my state, Arizona or Nevada and you are interested in buying foreclosures, you may want to look at this website. CountyRecordsResearch.com.

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Looks like the foreclosure mess is not over. According to CoreLogic: "62% of foreclosure starts as of July 2015 were loans originated between 2003 and 2008. The persistence of these legacy loans to drive foreclosures a decade later indicates how sensitive mortgage market performance is to underwriting decisions made long ago. This means that a large segment of mortgage loans remains very sensitive to the economy and home prices."

CoreLogic, Insights Blog, November 16, 2015.

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Some foreclosed homeowners are finding a way to keep their home mortgage-free by taking advantage of their state's statute of limitations with foreclosures. States that must approve foreclosures in court before they become final are facing huge backlogs in the court system. When these cases get dragged out five years or more, some home owners are citing the state's statutes of limitations for reason why lenders can't take possession of the home now. They can then continue to live in the home, without ever paying another dime to their mortgage. States like Florida, New Jersey and New York are seeing some of the largest numbers of these cases.

Bank of America alone has started the foreclosure process on about 20,000 mortgages that have not been paid in at least five years - 90% of these homes are still occupied.

Yikes!!

22 states use this judicial process to handle foreclosures, and is a major reason why some note buyers will not buy notes in those states.

Realtormag.org, November 10, 2015.

"Light travels faster than sound. This is why some people appear bright until you hear them speak."....Murphy's  Laws.

                        Some Good News

Sales of new homes recovered in October after suffering a steep drop in September, indicating a return to stability in the housing market. New home sales climbed 10.7% to a seasonally adjusted annual rate of 495,000. This rebound followed a 12.9% plunge in the sales rate during September. .....U.S. Commerce Department.

"It doesn't take any talent to play hard."...Derek Jeter, New York Yankee Shortstop.

Merry Christmas and Happy New Year!

If you enjoyed this Newsletter, tell a friend.

If you know how I can make it better, tell me.

Thanks for reading.

Denny Stanz

CA Broker # 01915404

760-245-5366 

760-245-5367 fax 

dennystanz@verizon.net 

www.CaliforniaNoteBuyerLLC.com