Today

Allow me to cut straight to the chase on this one because this is a topic of conversation that is NOT discussed enough. I am a firm believer that you get to where you want to go 10x to 100x faster if you have a mentor/adviser/coach, etc within your circle of influence. Everyone should have someone that they can lean on and learn from to help them grow their business, their marketing, their self-esteem, their habits, etc. 99% of all the wealthiest people in the world have mentors, advisers, coaches (usually multiple mentors for that matter) that are in their circle of influence to make them better. AND, did you know that even the mentors have mentors.

These types of people are ALWAYS and I mean ALWAYS trying to make themselves and their business better. This top 5-10% of the population doesn

Real Estate News Overview:

The Federal Housing Administration announced Friday that it is appointing a chief risk officer and making changes in its credit policies to make sure its reserves against future losses stay above a minimum set by Congress.

The FHA now insures about 5.3 million mortgages, up from about 4 million three years ago.

As of this summer, about 17% of FHA borrowers were at least one payment behind or in foreclosure, compared with 13% for all loans, according to the Mortgage Bankers Association. Rising defaults mean the FHA’s reserves may sink below the 2% mark required by federal law. The FHA says a study being sent to Congress in November is expected to show that ratio dipping below required levels for the first time.

The FHA acknowledged that a study that will go to Congress in November is expected to show the FHA’s capital reserve ratio falling under a congressionally mandated 2%.

It said the changes it is making would strengthen those reserves.

Real Estate Investor Coach Response:

I believe this is a good move introduced by FHA to appoint a chief risk officer to help minimize potentially shady mortgage operations that can go on to effect the entire market. There needs to be better regulation, but at the same time flexibility so that lenders can lend and borrowers can borrow! Easier said than done…

Go make some money investing in real estate!

To your Real Estate Investing Success,

Brian Evans

Real Estate News Overview: Take a look at the chart below and see how the Foreclosures stack up in your state: Real Estate Investor Coach Response: It's obvious that Foreclosures aren't going away any time soon and in my opinion I think that the housing market has yet to hit bottom. Don't take me as a pessimist, but rather a realist. There is still a lot of funky financial stuff going on out there with unemployment high and consumer confidence low. But don't let these statistics depress you, rather they should excite you, because if you know how to make money in foreclosures you can really rack up some serious cash and equity. Go make some money investing in real estate!

 No Regrets Only Results,

Brian Evans

Real Estate News Overview:

Foreclosures in the US are continuing to rise overall with March posting record highs in foreclosure activity since figures began in 2005.

The latest figures from RealtyTrac show that filings, including default notices, auction sale notices and bank repossessions rose by 9% in the first quarter of 2009. The rate of increase is expected to continue as moratoriums come to an end.

In the last year there has been an increase of 24% in filings overall. California, Florida, Arizona, Nevada and Illinois accounted for 60% of the nation’s total foreclosure activity volume. On a national scale, one in every 159 US housing units received a foreclosure filing during the quarter. Nevada and California boasted the highest foreclosure filing rates. One in every 27 Nevada housing units and one in every 54 California housing units received a foreclosure filing in the quarter, according to the report.

There were plenty of states, however, with rates more than six times lower than the national rate. Vermont boasted the lowest rate of the quarter, with one in every 14,830 properties receiving a foreclosure filing. RealtyTrac designated Vermont one of 10 states with a rate of more than 1,000 homes for every one foreclosure filing.

Of the nine other states including Kentucky, Mississippi, Montana, Nebraska, New Mexico, North and South Dakota and Wyoming, South Dakota boasted the second lowest filing rate, with one foreclosure filing in every 3,721 homes in the quarter.

March alone posted record highs in foreclosure activity, with 341,180 properties receiving foreclosure filings, a 17% increase from February and 46% year-over-year increase from March 2008. These are the highest monthly and quarterly totals recorded since RealtyTrac began reporting in 2005.

One county as postponed all foreclosure hearings because of the demand. Cook County, Illinois, the second most populous county in the US which includes the city of Chicago, has a backlog of tens of thousands of foreclosure cases. New cases have been suspended until September with the only exception any case where a property has been verified as both vacant and abandoned.

Real Estate Investor Coach Response:

It is obviously still a great time to buy foreclosure properties using short sale techniques. If you are still wondering where to begin, and how you can get your share of this Foreclosure Gold Rush then order my complimentary CD and Report

Real Estate News Overview:

In this weeks edition of Real Estate News the top headline that all readers need to know is that 1 out of every 9 homes in the US is sitting vacant, according to the Census Bureau. With approximately 130 Million homes in the United States, approximately 15 Million are sitting vacant.