The North Carolina legislature has enacted new legislation to help homeowners with subprime loans avoid foreclosure.  If a homeowner with a subprime loan defaults on his loan, the lender is now required to send to the homeowner a Pre-Foreclosure Notice at least 45 days prior to filing the Notice of Foreclosure Hearing.  The Pre-Foreclosure Notice must include an itemization of all past due amounts and other charges that need to be paid in order to bring the loan current as well as a statement that the homeowner may have options available other than foreclosure.  In addition, the Notice must also include contact information for the lender, the North Carolina Office of Commissioner of Banks and other HUD approved foreclosure counseling agencies.

The intent is to give homeowners who have fallen behind on their mortgage notice before their house is actually in foreclosure that they may be facing foreclosure in the near future and that there are options available that may allow them to save their home and/or their credit score.

Dan Zellers and Scott Rudd- Founding Partners

Dan Zellers, originally from Ohio, earned his undergraduate degree in finance and management from Defiance College and his law degree from the University of Toledo College of Law. He is a member of the North Carolina Bar, South Carolina Bar, Mecklenburg County Bar and the North Carolina Bar Association. His practice is focused on residential and commercial real estate, foreclosure alternatives, landlord-tenant laws and estate planning.

Scott Rudd, a North Carolina native, earned his undergraduate degree in accounting from Campbell University and his law degree from the Norman Adrian Wiggins School of Law at Campbell University. He is a member of the North Carolina Bar, Mecklenburg County Bar and the North Carolina Bar Association. His practice is focused on residential and commercial real estate, business formation and litigation, foreclosure alternatives and work with homeowners’ associations.

Prior to founding Zellers Rudd PLLC, Dan Zellers and Scott Rudd worked together in the real estate finance group of some of the top international law firms in the nation. They represented large national banks and servicers in multi-million dollar commercial property transactions as well as multi-billion dollar commercial loan securitizations. These transactions included the negotiation of large servicing contracts as well as conducting large commercial loan transactions, loan assumptions, defeasances, parcel releases, and other consent matters on large commercial properties located all across the nation. In addition, their work prior to that has afforded them extensive experience in all aspects of residential real estate and residential real estate transactions including loan closings, foreclosure, landlord-tenant law, work with homeowners’ associations, default judgments and private transactions.

For more information about Charlotte foreclosure and foreclosure alternatives, please visit:  http://zellersrudd.com/areas_of_practice/foreclosure_alternative.aspx

By: Charlotte Foreclosure Attorney – Zellers Rudd

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Sometimes, an individual/proprietor is not able pay the amount overdue against his name on account of home, for no matter whatever reason – whether it is loss of job, health, or death or if the home is taken over by a finance or mortgage company. Under such circumstances, once the legal formalities are over, the propriety or the house is termed as foreclosure. When finance company or mortgage firm or the bank has the possession, they more than often tend to place the home in foreclosure homes listing.

The intention of the foreclosure homes listing is to sell the home/ propriety as promptly as possible. A foreclosed home is more than often obtainable at a great deal lesser cost than its actual market value. The banks or mortgage firms, who are in possession of these distressed properties, wish to dispose of them as soon as possible. With the intention of drawing more and more customers, they cut down the prices of these properties to a great extent.

These kinds of home make available an exceptional opportunity to bidders for houses and real estate investors by presenting to them a prospect to acquire properties for sale for far less than its standard market value.

Fundamental Elements of Foreclosed Homes Listing

If you want to buy foreclosures property, you must understand the listings. A foreclosed homes listing compiles research gathered on real estate markets in every state and then create a comprehensive, searchable database of foreclosures for sale. A number of the essential basics listed out in an online foreclosure listing include:

Addresses of such available properties

Detailed description about their physical condition

Comprehensive account of the neighborhood area

Estimated price

Date of auction

Contact person or real estate agent

Status of foreclosure

A virtual view of the property so that the potential bidders can see a video of the available properties.

While buying foreclosed property, you are required to be cautious, because a lot of of the laws that guard or defend your rights in an otherwise conventional real estate deal may not be relevant to a foreclosed property. So once must be extra careful.

By: Anirban Bhattacharya

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ate system is any system that is reliable and gets the real estate task done. Some people will create a better realestate system than others, however, the concept of making the process easier remains the same.

The general realestate system is imperative for any realtor or agent. A realestate system keeps the agent on track with workload and continually is updated. A good way to keep up with daily tasks is to have a planner that you carry with you at all times. In modern times, we often times use cells phones, also known as smart phones, to collect and store important data.

If you are an agent and struggling to create a realestate system that works, try researching online. There are many companies out there that offer systems that they have already made. Just like any system you could make, some realestate systems are better than others. There are a lot of scams out there and they are looking for people just like you. Do yourself a favor and research the company before you make any commitments to buy.

You may want to also think about furthering your education in the real estate industry. Sometimes wasted time can be attributed with the lack of knowledge someone has. If you are unsure of certain aspects of real estate, make it a point to really learn them. By learning these “problem areas”, you will know how to better handle situations. Moreover, you will come to a solution faster. This is due to the fact that you will not have to research them. Knowing more about the real estate industry will lead you to developing a good sense of overall accomplishment.

The main goal of a realestate system is to basically automate what you do on a daily basis. In other words, you will be working less time and earning the same amount or more. There are actually people out there that have been doing this for years. The more you use your brain, the less you will have to use your hands. With the extra free time, you can develop other ways to make your business successful, or, you can just spend it relaxing.

You will learn that delegation is a key concept when looking to spend less hours working in the week. A real estate agent is a very time consuming position and in most cases, does not leave time for much else in their lives. This is unfortunately a sad fact. Real estate agents are constantly looking for a realestate system that will work for them. These are the agents that recognize that doing less is really doing more. The more you automate your real estate business, the more you will get out of it. This includes time and money both.

Automate Your Real Estate Business

Real estate investor can go about their investment options in a more effective way by automating their real estate business.

This cutting edge business automation can slash your working hours as it increases the money you earn in your real estate business. Grab this rare opportunity to learn and discover the best way to automate your business.

This instructional material will guide you through the process developed by Otto Ruebsamen that unlocks the secrets of automating income even in a depressed real estate market.

By: Pat Gage

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