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Some are saying that we are facing another housing crisis and the first sign of it will be exploding defaults and foreclosures after the bans are lifted. I DO agree there will be at least a bump in defaults and foreclosures. Why? Because some of the business that shut down will remain shut and there is a percentage of people out there who will not be able to find equivalent employment. This is going to create an opportunity for those who know how to put deals together, solve borrower problems, and/or those who have the cash to bid at the courthouse steps.

So I went out and got the Queen of Foreclosures, Darlene Coquerel, to join us for a call with the Flipping America REIA. It has been one of the most popular calls we\\u2019ve ever done and the content is going to take a couple of episodes to share with you, perhaps more. I\\u2019ve bought quite a few foreclosures myself - over 700 - but Darlene once bought that many in a single day. Between the two of us we know a thing or two about the process. And we are going to get that to you in just a moment.\\xa0

Music intro

I don\\u2019t quite believe our housing market will be wrecked and here are my reasons why:\\xa0

1. Most of the forbearance agreements are allowing the forgiven amounts to be added to the end of the loans and therefore when prior employment returns, ability to repay returns in like manner.\\xa0
2. We started this pandemic with a critical housing shortage. New home construction has declined, thus exacerbating the situation.
3. Interest rates are at an all time low.
4. Increased demand and low interest rates may keep price pressure upward.\\xa0
5. There may be a bump in the number of foreclosures but this will be offset by the factors I just mentioned.\\xa0

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437) \\xa0 ext 1. Leave your message or your question.\\xa0

Email your questions to questions@rogerblankenship.com. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don\\u2019t mind.\\xa0

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFinancial

FlipStarter Online! www.flipstarteronline.com

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.\\xa0\\xa0
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It\\u2019s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .\\xa0
• \\u201cReal Estate Investing Quick Start\\u201d Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

News:\\xa0

• These ZIP codes had the highest gross profits for home flippers in Q1 2020. https://www.attomdata.com/news/market-trends/figuresfriday/top-10-u-s-zip-codes-with-highest-home-flipping-profits-in-q1-2020/

Topic: How to Buy Foreclosures, Darlene Coquerel

• Foreclosure information for all 50 states. https://www.nolo.com/legal-encyclopedia/50-state-chart-key-aspects-state-foreclosure-law.html
• Information about foreclosure laws. https://www.hg.org/foreclosure.html
• Nearly 8% of all mortgages are in forbearance. https://www.cnbc.com/2020/07/10/coronavirus-mortgage-bailout-sees-biggest-one-week-decline-yet.html
• How we can avoid repeating 2008. https://hbr.org/2020/07/how-banks-can-avoid-a-repeat-of-the-2008-foreclosure-crisis

Questions:\\xa0

Send questions to questions@rogerblankenship.com, or leave message at rogerblankenship.com, or call 877-55 ROGER (76437)\\xa0 ext 1.

• Melvin, Port St. Lucie, FL \\u201cHow much money should I take to the courthouse to bid on a foreclosure?\\u201d
• Petra, Pittsburgh, PA \\u201cDoesn\\u2019t it seem like we are preying on the misfortunes of others to buy foreclosures?\\u201d
  
  

Motivational Thought for the day

\\u201cGod gave you a gift of 86,400 seconds today. Have you used one to say \'thank you?\'\\u201d William Arthur Ward

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