Tom Holder

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LUDWIG DOUBLE TOM HOLDER FOR RACK TOM DRUMS LOT #J52
LUDWIG DOUBLE TOM HOLDER FOR RACK TOM DRUMS LOT #J52
US $75.00
PEARL DOUBLE TOM MOUNT for BASS DRUM SHELL SET MOUNTING BRACKET HOLDER LOT #K629
PEARL DOUBLE TOM MOUNT for BASS DRUM SHELL SET MOUNTING BRACKET HOLDER LOT #K629
US $45.00
PEARL EXPORT DOUBLE TOM HOLDER BASS DRUM BRACKET for DRUM SET LOT #K101
PEARL EXPORT DOUBLE TOM HOLDER BASS DRUM BRACKET for DRUM SET LOT #K101
US $49.00
Ludwig Vintage Tom holders 1970's  both the 10
Ludwig Vintage Tom holders 1970's both the 10" and the 20"
US $70.00
TAMA DOUBLE BRACED CYMBAL BOOM STAND WITH TOM HOLDER
TAMA DOUBLE BRACED CYMBAL BOOM STAND WITH TOM HOLDER
US $15.50
VINTAGE PREMIER TOM HOLDER & BRACKET
VINTAGE PREMIER TOM HOLDER & BRACKET "EARLY1970S"
US $23.71
(2) Pearl TH88S/B Short Tom Holders/Black
(2) Pearl TH88S/B Short Tom Holders/Black
US $44.95
Pearl Uni Lock Tom Holder - 13
Pearl Uni Lock Tom Holder - 13"x4" TH1000 ES
US $44.95
Pearl Uni-Lock Tom Holder - 13
Pearl Uni-Lock Tom Holder - 13"x3" TH1000i ES
US $49.95
Tama Double Braced stand + Omni-Sphere (Japan) Tom Mount holder
Tama Double Braced stand + Omni-Sphere (Japan) Tom Mount holder
US $65.00
Crush Drums Tom Holder/Chrome Finish/10.5mm Arm/NEW
Crush Drums Tom Holder/Chrome Finish/10.5mm Arm/NEW
US $39.95
Yamaha 3 hole tom holder
Yamaha 3 hole tom holder
US $25.00
Gretsch Drums Double Tom Holder
Gretsch Drums Double Tom Holder
US $119.99
60s GRETSCH BASS DRUM DIAMOND CYMBAL ARM HOLDER FLOOR TOM LEG BRACKET LOT #K674
60s GRETSCH BASS DRUM DIAMOND CYMBAL ARM HOLDER FLOOR TOM LEG BRACKET LOT #K674
US $55.00
New Ludwig LR255STH Rocker Add-On 9.5mm L-Arm/Ball on 1
New Ludwig LR255STH Rocker Add-On 9.5mm L-Arm/Ball on 1" Post Single Tom Holder
US $44.95
Percussion, wood block, tambourine plus Ludwig tom tom stand holder
Percussion, wood block, tambourine plus Ludwig tom tom stand holder
US $25.00
Hayman Drums Vintage Chrome Tom-Tom Holder Rail
Hayman Drums Vintage Chrome Tom-Tom Holder Rail
US $7.90
'69 Ludwig Bass Drum double Tom Holder ~Complete~
'69 Ludwig Bass Drum double Tom Holder ~Complete~
US $49.99
Slingerland Modular Tom Mount Holders
Slingerland Modular Tom Mount Holders
US $25.00
Gretsch Double Tom Holder Vintage 1970's
Gretsch Double Tom Holder Vintage 1970's
US $49.99
Slingerland Modular Tom Mount Holder #8
Slingerland Modular Tom Mount Holder #8
US $4.99
Slingerland Modular Tom Mount Holder #7
Slingerland Modular Tom Mount Holder #7
US $9.99
VINTAGE 60S LUDWIG BASS DRUM RAIL MOUNT/ HOLDER RATCHET W L ARM AND TOM MOUNT #2
VINTAGE 60S LUDWIG BASS DRUM RAIL MOUNT/ HOLDER RATCHET W L ARM AND TOM MOUNT #2
US $49.00
PEARL SINGLE TOM HOLDER LOT #A39
PEARL SINGLE TOM HOLDER LOT #A39
US $24.95
1960's LUDWIG BASS DRUM PLATE FOR TOM HOLDER & SET LOT #T74
1960's LUDWIG BASS DRUM PLATE FOR TOM HOLDER & SET LOT #T74
US $45.00
1970's LUDWIG DOUBLE TOM HOLDER for BASS DRUM & SET BRACKET LOT #895
1970's LUDWIG DOUBLE TOM HOLDER for BASS DRUM & SET BRACKET LOT #895
US $65.00
70's/80's LUDWIG CLASSIC MODULAR BASS SHELL MOUNTED TOM HOLDER BRACKET  LOT #L58
70's/80's LUDWIG CLASSIC MODULAR BASS SHELL MOUNTED TOM HOLDER BRACKET LOT #L58
US $49.00
CIRCA 1965/66 LUDWIG DOUBLE TOM HOLDER FOR BASS DRUM & SET LOT #L93
CIRCA 1965/66 LUDWIG DOUBLE TOM HOLDER FOR BASS DRUM & SET LOT #L93
US $149.00
GRETSCH SINGLE TOM MOUNT HOLDER FOR BASS DRUM TOM & DRUM SET LOT #J650
GRETSCH SINGLE TOM MOUNT HOLDER FOR BASS DRUM TOM & DRUM SET LOT #J650
US $55.00
NEW GRETSCH DOUBLE TOM HOLDER HEAVY DUTY LOT #J834
NEW GRETSCH DOUBLE TOM HOLDER HEAVY DUTY LOT #J834
US $124.95
80s LUDWIG CLASSIC MODULAR BASS DRUM SHELL MOUNTED TOM HOLDER BRACKET LOT #K483
80s LUDWIG CLASSIC MODULAR BASS DRUM SHELL MOUNTED TOM HOLDER BRACKET LOT #K483
US $55.00
COMPLEATE DOUBLE TOM TOM DRUM HOLDER BASS MOUNT NEW HARDWARE TREES ARMS PARTS TT
COMPLEATE DOUBLE TOM TOM DRUM HOLDER BASS MOUNT NEW HARDWARE TREES ARMS PARTS TT
US $99.99
Tama MTH-900AS short stem tom/percussion holder
Tama MTH-900AS short stem tom/percussion holder
US $15.00
Pearl TH2000I Dual Uni-Lock Tom Drum Holder NEW/Demo
Pearl TH2000I Dual Uni-Lock Tom Drum Holder NEW/Demo
US $49.99
PEARL OPTI-MOUNT SUSPENSION SYSTEM  TOM HOLDER  OPTIMOUNT TOM MOUNT
PEARL OPTI-MOUNT SUSPENSION SYSTEM TOM HOLDER OPTIMOUNT TOM MOUNT
US $10.00
(2) Pearl TH-900I Uni-Lock Tom Holders/Brand New
(2) Pearl TH-900I Uni-Lock Tom Holders/Brand New
US $59.95
TAMA DOUBLE TOM HOLDER for DRUM SET LOT #K267
TAMA DOUBLE TOM HOLDER for DRUM SET LOT #K267
US $75.00
1970's LUDWIG DOUBLE TOM HOLDER SUPER NICE CONDITION for DRUM SET LOT#K211
1970's LUDWIG DOUBLE TOM HOLDER SUPER NICE CONDITION for DRUM SET LOT#K211
US $95.00
1970's LUDWIG BASS DRUM DOUBLE TOM HOLDER SET LOT #T7
1970's LUDWIG BASS DRUM DOUBLE TOM HOLDER SET LOT #T7
US $75.00
(2) Pearl TH88B Short Tom Holders & AX20 Adapter Clamps
(2) Pearl TH88B Short Tom Holders & AX20 Adapter Clamps
US $64.95
Pearl TH2000S Dual Uni-Lock Tom Holder
Pearl TH2000S Dual Uni-Lock Tom Holder
US $59.99
Pearl TH88S Tom Holder with Gear Tilter Short Post
Pearl TH88S Tom Holder with Gear Tilter Short Post
US $24.99
Pearl TH2000S Dual Uni Lock Tom Holder NEW/Demo
Pearl TH2000S Dual Uni Lock Tom Holder NEW/Demo
US $49.99
Vintage Tama Double Tom Holder
Vintage Tama Double Tom Holder
US $35.00
ludwig bass drum tom mount holder, 1
ludwig bass drum tom mount holder, 1" hole with back plate
US $33.00
4 LP CLAWS Snare Tom Mic or Drum Percussion Custom Holder Clamps Mount New Lot
4 LP CLAWS Snare Tom Mic or Drum Percussion Custom Holder Clamps Mount New Lot
US $119.99
Pearl TH88I Tom Holder with Gear Tilter for ISS Optimount
Pearl TH88I Tom Holder with Gear Tilter for ISS Optimount
US $24.99
EARLY 1960's ROGERS SINGLE TOM HOLDER W/ TAG for BASS DRUM & DRUM SET LOT #J846
EARLY 1960's ROGERS SINGLE TOM HOLDER W/ TAG for BASS DRUM & DRUM SET LOT #J846
US $195.00
sp duel 7/8th pole tom mount holder for bass drum, w back plate, pearl, ludwig
sp duel 7/8th pole tom mount holder for bass drum, w back plate, pearl, ludwig
US $25.00
Tama MTH900AS Single Tom Holder (short) sg
Tama MTH900AS Single Tom Holder (short) sg
US $29.95
NEW GRETSCH DOUBLE TOM HOLDER HEAVY DUTY LOT #J212
NEW GRETSCH DOUBLE TOM HOLDER HEAVY DUTY LOT #J212
US $124.95
NEW GRETSCH DOUBLE TOM HOLDER HEAVY DUTY LOT #J18
NEW GRETSCH DOUBLE TOM HOLDER HEAVY DUTY LOT #J18
US $124.95
1970s SLINGERLAND SET-O-MATIC DOUBLE TOM HOLDER for BASS DRUM and SET LOT #K582
1970s SLINGERLAND SET-O-MATIC DOUBLE TOM HOLDER for BASS DRUM and SET LOT #K582
US $124.95
70s LUDWIG DOUBLE TOM HOLDER LOT #448
70s LUDWIG DOUBLE TOM HOLDER LOT #448
US $75.00
1960s ROGERS DOUBLE TOM HOLDER FRAME for DRUM SET LOT #Z11
1960s ROGERS DOUBLE TOM HOLDER FRAME for DRUM SET LOT #Z11
US $34.95
BRAND NEW!!!! GRETSCH TOM HOLDER FOR DRUM SET LOT #M175
BRAND NEW!!!! GRETSCH TOM HOLDER FOR DRUM SET LOT #M175
US $65.00
PEARL SINGLE TOM HOLDER IN BLACK for DRUM SET! LOT# K444
PEARL SINGLE TOM HOLDER IN BLACK for DRUM SET! LOT# K444
US $21.00
NEW GRETSCH SINGLE ARM TOM HOLDER LOT #M81
NEW GRETSCH SINGLE ARM TOM HOLDER LOT #M81
US $65.00
7124-1 RETRO FIT TOM ARM FOR GRETSCH MONSTER TOM HOLDER
7124-1 RETRO FIT TOM ARM FOR GRETSCH MONSTER TOM HOLDER
US $55.31
7124-7831 RETRO FIT TOM ARM FOR PREMIER 1388 TOM HOLDER
7124-7831 RETRO FIT TOM ARM FOR PREMIER 1388 TOM HOLDER
US $31.60
YAMAHA TH904 3-HOLE TOM HOLDER w/Memory Lock
YAMAHA TH904 3-HOLE TOM HOLDER w/Memory Lock
US $12.99
Tama Artstar Granstar Rockstar Bass Drum Tom Mount Bracket Holder
Tama Artstar Granstar Rockstar Bass Drum Tom Mount Bracket Holder
US $37.99
Pearl TH88I Tom Holder with Tilter For ISS Optimount
Pearl TH88I Tom Holder with Tilter For ISS Optimount
US $24.99
Gretsch Double Tom Holder
Gretsch Double Tom Holder "60"s New Old Stock
US $125.00
PAIR OF UNI-LOCK TOM HOLDER MOUNTING ARMS PEARL &  PAT PEND MOUNT ARM 2 MOUNTS
PAIR OF UNI-LOCK TOM HOLDER MOUNTING ARMS PEARL & PAT PEND MOUNT ARM 2 MOUNTS
US $18.99
RARE! ORIGINAL 1958 LUDWIG DOUBLE TOM HOLDER 1ST EDITION for DRUM SET LOT #K331
RARE! ORIGINAL 1958 LUDWIG DOUBLE TOM HOLDER 1ST EDITION for DRUM SET LOT #K331
US $249.00
Sonor STH 474 Single Tom Holder 1
Sonor STH 474 Single Tom Holder 1" Post w/ 1 - TA 478
US $66.00
BRAND NEW! GRETSCH TOM HOLDER FOR DRUM SET LOT #J62
BRAND NEW! GRETSCH TOM HOLDER FOR DRUM SET LOT #J62
US $65.00
NEW GRETSCH DOUBLE TOM HOLDER HEAVY DUTY LOT #J662
NEW GRETSCH DOUBLE TOM HOLDER HEAVY DUTY LOT #J662
US $124.95
1970's LUDWIG 20
1970's LUDWIG 20" DOUBLE TOM HOLDER for BASS DRUM & DRUM SET LOT #J878
US $75.00
PEARL ELX BASS DRUM WITH LEGS AND TOM HOLDERS REMO BACK AND BLACK FRONT HEAD
PEARL ELX BASS DRUM WITH LEGS AND TOM HOLDERS REMO BACK AND BLACK FRONT HEAD
US $200.00
Pearl TH2000 Dual Uni-Lock Tom Holder
Pearl TH2000 Dual Uni-Lock Tom Holder
US $83.40
Cannon Percussion Tom Holder Mounting Plate  UPDTMT  ES
Cannon Percussion Tom Holder Mounting Plate UPDTMT ES
US $27.95
Gretsch GBTH-SL Standard Single Tom Holder for Drums - PREORDER (ETA LATE MAY)
Gretsch GBTH-SL Standard Single Tom Holder for Drums - PREORDER (ETA LATE MAY)
US $69.99
Gibraltar SC-SLRM L-Rod Tom Holder with Clamp
Gibraltar SC-SLRM L-Rod Tom Holder with Clamp
US $28.99
Mapex Tom Holder TS965A Dual Tom Cymbal Stand Holder
Mapex Tom Holder TS965A Dual Tom Cymbal Stand Holder
US $208.99
Mapex Tom Holder TS950A Drum Stand Stool Tom Attachment
Mapex Tom Holder TS950A Drum Stand Stool Tom Attachment
US $209.00
VINTAGE! LATE 1960's LUDWIG DOUBLE TOM HOLDER LOT #J182
VINTAGE! LATE 1960's LUDWIG DOUBLE TOM HOLDER LOT #J182
US $149.00
Yamaha Double Tom Holder Three Hole Mount - TH-945
Yamaha Double Tom Holder Three Hole Mount - TH-945
US $89.99
SLINGERLAND 70 DOUBLE TOM HOLDER
SLINGERLAND 70 DOUBLE TOM HOLDER
US $65.00
Pearl Pearl TH88S Tom Drum Holder, Gear Tilter, Short, Drum Set Hardware - New!
Pearl Pearl TH88S Tom Drum Holder, Gear Tilter, Short, Drum Set Hardware - New!
US $24.99
Pearl NIB TH-900I Tom Holder – Long
Pearl NIB TH-900I Tom Holder – Long
US $37.92
Pearl NIB TH-900S Tom Holder – Short
Pearl NIB TH-900S Tom Holder – Short
US $37.92
DD1 DDRUM Alesis others 1 1/2 inch tom mount clamp holder drum electronic used
DD1 DDRUM Alesis others 1 1/2 inch tom mount clamp holder drum electronic used
US $7.99
Cannon Bass Drum Casting for Deluxe Tom Holder or Double Tom Holder
Cannon Bass Drum Casting for Deluxe Tom Holder or Double Tom Holder
US $26.99
(2) Pearl TH-88L/B Black Tom Holders/Brand New
(2) Pearl TH-88L/B Black Tom Holders/Brand New
US $49.95
New Gretsch GTH-SL Single Tom Holder For Bass Drum Mount
New Gretsch GTH-SL Single Tom Holder For Bass Drum Mount
US $109.95
Mic Holders™ Snare / Tom Mic Mount & Holder
Mic Holders™ Snare / Tom Mic Mount & Holder
US $14.96
Tama Double Tom Holder- Black Nickel MTH909BN ES
Tama Double Tom Holder- Black Nickel MTH909BN ES
US $179.95
Ludwig Single Tom Holder Post Rocker Style Tom Arm for Drums LC155STH
Ludwig Single Tom Holder Post Rocker Style Tom Arm for Drums LC155STH
US $29.99
New Ludwig LR2980MT Rocker Double Tom Holder With 9.5mm L-Rods
New Ludwig LR2980MT Rocker Double Tom Holder With 9.5mm L-Rods
US $89.95

Tom Holder

Why we use Animals in Medical Research

Surviving In A Tough RE Market

Have you ever begun the long, stressful process of searching for the best investment property, only to sell that property for even less than you paid for it? Does it seem nearly impossible to accept a deal from a seller that offers any hope to return a profit from your investment? Have you had enough of entering into a real estate deal without feeling certain of the outcome?

Real estate prices are like a roller coaster.  They are constantly rising and falling at an incredible rate.  Becoming an investor in this type of market is very challenging, but not always rewarding.  The property, budget, and even time must all be chosen very carefully, or your will lose every dollar you invest, and even some that you didn't.    It's an every man for himself business, and the investors that lack the proper tools will always loose to those that are better equipped for the job. 

But now, you have can have access to the best tools in the market.  Imagine finally being able to finally reap the rewards without taking any risks!  At what2offerdotcom, you will find a real estate offering system that will easily allow you to make kick-butt real estate offers and determine the outcome before the deal has even started.  You will be able to easily determine your cash flow interest rates, and accurately calculate your cash-on-cash return.  No more lost sleep over a questionable deal, or lost money on poor investment choices.  Our real estate offering system is as unique as it successful, enabling you to enjoy positive returns on your investments without the uncertainty of the outcome.  We will even offer you a free trial to test the system for yourself.  Simply visit what2offer's website, and your real estate investments will seem to plan and succeed all on their own.  Best of all, you can even try our system for free.

Let's get into some more information you will find useful. In this edition we'll focus on defining and understanding what types of deals make up the real estate investor's landscape, how to recognize them, and how to put money in your pocket from them.

Here is the list, in no particular order...

1) Free and Clear-->This is a property that has no underlying loans. That is,
the seller owns it "free and clear" of mortgage liens. These properties possess
the widest latitude of exit strategy (once I'm in, how do I get out). Normally,
the greatest profits are derived from purchasing the property with seller
financing (below) and then rent forever, or to sell on a wraparound mortgage
(below) with a long term.

Pros: About 33% of the properties in the US are owned free and clear.

Cons: Sellers are typically not motivated and the properties are older and require
substantial monies to refresh. Marketing expenses can be higher on these deals,
because the sellers are generally not motivated.

2) Seller Financing-->These deals should be on the top of your Most Wanted
list. The idea is to buy the property and have the seller become the bank,
whereby you pay them regular loan payments, with terms created and agreed
to by both parties. High Equity properties or Free and Clear properties are
perfect for the potential of seller financing. The title of the property would be in
the buyers name, with a mortgage held by the seller.

Pros: You can buy with seller financing and you can also sell with owner financing,
on the same property. It is possible to get very low interest rates when buying
and then sell at above prevailing interest rates.

Cons: Sellers are typically not motivated and the properties are older and require
substantial monies to refresh.

3) Subject-To-->These deals should be near the top of your Most Wanted
list. The idea is to buy the property from a seller, whereby the loan stays in
the seller's name and the title to the property goes in your name. You
make the underlying loan payments to the banks. These deals make it possible
for you get keep the house yourself (to live in), to re-sell it to a new buyer using
a wraparound mortgage (below), or to assign (below) the deal to a third party.

Pros: In a nutshell, you end up with a property with all of the benefits and with
none of the legal responsibility. These deals are for sellers who can't sell and
buyers who can't buy. There are literally millions of potential deals now. You
can rent these, sell them on a wrap, or assign to a third party buyer.

Cons: Sellers need to be motivated and third-party buyers need assignment
fee cash.

4) MPO/MAO-->The Maximum Profitable Offer or The Maximum Allowable
Offer represents the maximum amount that an investor should offer on a property.
The offer varies greatly if the property is to be purchased for a flip or a rental.
The offer should include all costs associated with the transaction.

Pros: The MPO is a very powerful concept, in that it allows the investor to
include a "safety cushion" of profit for when things go awry. We built
What2Offer to determine Kick-Butt offers in seconds, on most any property
situation. Try it NOW for a FREE TRIAL.

Cons: Accurate numbers are difficult to determine without underlying program.

5) Wholesale-->Wholesale means that the price is below the full value (Retail),
such that a savvy real estate investor would buy the property. The idea is to
buy at Wholesale, fix and then sell at Retail. The other option is to buy at wholesale
and then pass the deal onto another party for a fee (Assignment).  

Pros: Most true wholesale deals are easy to pass on to third parties.

Cons: Significant discounts are needed for the wholesaler and the retailer
to make a profit, so deals are more scarce.

6) Assignment-->An assignment occurs when you pass a deal onto a third
party. For example, you send out marketing and the seller contacts you. After some
back and forth, you strike up a deal with the seller and then both parties sign
the purchase contract. You then assign this deal to a new buyer. In so doing,
you have assigned the contract and a fee can be collected.

Pros: Literally thousands, if not millions, of buyers in the Subject-To end
buyer population pool. Additionally there are lots of cash buyers as third
party investor buyers. 

Cons: Assignment fees come out of the total profit in the deal.

7) Retail-->This involves selling at "full market value." The idea would be to
buy properties at wholesale and then sell (after fixing?) at retail. From the
old adage buy "low" and sell "high."

Pros: Selling at Retail CAN produce larger profit spreads.

Cons: The selling risk is also the high, because you are trying to sell
to picky retail buyers.

8) Exit Strategy-->This is your strategy on what you are going to do with
a property after you purchase it. A good real estate business model has
at least 3 strategies: Deals that provide money fast; Deals that provide
big payoffs; and  deals that provide for retirement income.

Fast Payday Strategy
a) Assign your contract for a fee without taking title.
b) Take title for only minutes until you re-sell.
c) All cash deals where any underlying loan is paid off.
"Subject To" deals where the underlying loan is not paid off.

Big Payday Strategy
a) Get ownership and free equity without using your own cash or getting a bank loan.
Then, sell to an owner occupant with the intent to cash out now or within 6 months.
b) Buy bank owned properties for pennies on the dollar.
c) Buy free equity "subject to" existing loans.
d) Create free equity by discounting or short selling (below) the 2nd mortgage
and taking over the 1st "subject to."

Retirement (Long Term) Strategy
a) Buy or finance properties with 15 year or less amortizations then rent
until you pay them off.
i) Buy "subject to" an existing 15 year amortizing loan (example 9 years left)
and rent until free and clear.
ii) Buy free and clear houses and structure paying seller's on a 10-15 year
amortizing loan and never sell, rent until paid off.

Wrap--> A "wrap" is NOT a sandwich! It is short for wraparound mortgage.
The basic idea is that a wrap mortgage "wraps" up the underlying mortgages
into a new wrap loan. The creator of the wrap normally suggests the loan terms,
the interest rate, and the principle amount. For example, if a property worth
$150,000 had a first of $100,000 at 5%, payable to some bank. A wrap loan
can be made for $120,000 at 7% interest. The underlying loan is made to the
bank and and the new wrap note is paid to the seller.

Flip-->This is the term for quickly turning over a property from a seller
to a new end buyer, with a short amount of hold time. This is the opposite
notion of the long term hold investor.

Hold-->The amount of time required to complete a property transaction.
For fix and flip deals, it is normally in the range of 150-180 days.

Short Sale/Foreclosure--> A complicated, pain-in-the-butt legal process, in
which investors may still be able to get good deals. Foreclosure laws vary
significantly by State--so learn your local laws. Below is a working glossary of the
terms and meanings of this venue.

DELINQUENCY: The day after a payment is due, a loan is DELINQUENT. For example, if the grace period runs until the 16th of each month (as it does for most conventional and FHA loans) payments made from the 17th to the end of the month results in the loan actually becoming DELINQUENT for a short period each month.

DEFAULT: A loan is IN DEFAULT as soon as any payment has been due and unpaid for more than 30 days. Lenders normally have collections departments established to handle owner's of loans in different stages of default.

FORECLOSURE: The legal process by which a lien holder repossesses a property.

FORECLOSING ATTORNEY: Attorney representing the foreclosing lender. A knowledgeable attorney can be a great asset in getting short sales through the system.

NOTICE OF ELECTION AND DEMAND (NOD or NED):This is the result of legal action taken on behalf of the lien holder. This notice serves to inform the borrower and the public that their property has entered the foreclosure process and will be sold at an auction at some specified date (about 110 to 120 days henceforth). Foreclosure lists are normally generated from "NOD" lists.

PUBLIC TRUSTEE: My state has a third party representative in between the lender and the borrower (and the public) in a deed of trust state. They conduct the public aspects of the foreclosure process. After the NOD (also commonly called NED) is filed, the homeowner generally has to work through the appropriate county public trustee to work on their loans. Each county has a Public Trustee's office whose charter is to notify the public and, receive cure payments, and to conduct auctions. Most states do not have public trustees.

CURE: An amount of money determined by the bank and the bank's attorneys needed to pay all arrearages on the delinquent loan. Successful curing will result in a withdrawn NOD, and a re-instated mortgage.

AUCTION: A foreclosure sale. An auction is the public sale of a mortgaged property, following foreclosure of the loan secured by the property. In today's market, it's typically the 1st lien holder who promulgates the typical auction and ends up with the property.

and now some key Bank Personnel/Terms :

SERVICING COMPANY: Most entities that we think of as "banks" or "lenders" are actually service providers, that are servicing a loan for some third party. The actual lien holder could be a group of investors (Wall Street) or even a country. Short sales are typically transacted through the service provider.

DATA COLLECTOR: Level one person at a servicing company (bank). After a short sale package and offer has been sent in, their responsibility is to ensure that all of the short sale documents are appropriate. They forward the package to the assigned mitigator for determination. These people can be the most challenging people to interface with through the entire transaction.

LOSS MITIGATOR: Level two person at a servicing company (bank). After a short sale package and offer has been sent in, they "mitigate" the bank's loss by following a set of mathematical computations (internal to the bank). Most of the time, a loss mitigator has approval authority of a short sale offer. Sometimes the losses are sufficiently large that the short sale approval process may involve the management chain as well as the investor.

And finally some Bank Workout Options:

These service providers have more options than just short sales. Below are a list of the more common options and their relative meanings:

Reinstatement--Catch-up on late payments and bring the loan current--can also be called a "Cure."

Forbearance--Take the total of the arrearages and divide this number by six or twelve months. Homeowner has to be able to pay this amount monthly PLUS their regular monthly payments. Low probability of success, and bank's do not favor these.

Loan Modification--Basically a "re-casting" of the loan. The bank reps will take the total of the arrearages and pile it on to the principle (the bank can even alter interest rates). Homeowner must qualify for this option. Sometimes the bank will discount the interest rate and even the principle balance. Currently there is over a 50% default rate on modifications that are zero to eight months old.

Short Sale--The bank takes less than what is owed. The lien holder may seek monies owed.

Deed in Lieu--Sign over deed and give keys to bank and walk away. Junior liens normally kill this option. This option is sometimes called "Cash for Keys."

Foreclosure--A repossession of the property by the lien holder (1st normally). These properties are known as REOs (Real Estate Owned).

To Your Success,

Tom & Svein
What2Offerdotcom

PS: Remember, What2Offer is more than just  the most powerful and easy-to-use
offering software on the planet. It is an entire community of Training Videos, Live Calls,
Tips & Tricks, and our wisdom of over 300 completed deals.AND it comes with a free trial.

About the Author

Tom Farwell and Svein Groem are the owners of http://www.what2offer.com, the powerful web-based real estate investor software which will help you create kick-butt real estate offers in seconds. Everything starts with a powerful offering system. Without it, it's nearly impossible to be a successful real estate investor. Our software is available for a free trial on our website.

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