Mortgage Note Buyers Blog - Proficient Note Buyers

The maintenance of old relationships is sometimes the best formula for new business.

I make a point of saying "thank you" to everyone who does anything nice for me. Some people's reactions indicate I may be in the minority.

With so much to complain about these days, it's easy to fall into the trap of "woe is us", or maybe even "woe is U.S." While there are many strong arguments for the latter quote, it's time to bring a little perspective into just how bad we've got it.

The Department of Housing and Urban Development has issued its proposed guidelines on who must be a licensed mortgage originator - and the results may surprise you.

My 2010 property tax bill arrived in the mail yesterday. It told me how much to pay, where to send my check, and the breakdown between taxing authorities. Conspicuously absent? The actual tax assessment. Now why would that be?

This famous quote from William Clark on his epic journey with Meriwether Lewis across the continent conveys the excitement of finding the terminus of the Columbia River - the Pacific Ocean. In reality of course, he was only halfway to his destination.

A herniated disk in my lower back has made for an extremely long (and somewhat depressing) winter thus far. Last week, cortisone came to the rescue.

It's easy to find wasteful spending in government (So easy a caveman could do it!), but the very people perpetrating the waste are the only ones charged to change it. If that sounds like a recipe for disaster, then (DING DING DING!) you just won a first-class ticket to a higher tax bracket!

This week's corresponding news article says the IRS expects to answer only 7 of 10 calls they receive this tax season. Yet they can spare TWO agents for an in-house audit party at my house last week???!!!

The New Year is upon us - did you make more tired resolutions that will be (or maybe already have been) cast aside? Or did you set goals for yourself in 2010? There IS a difference.

2009 was a rough year for a lot of people, a banner year for a few, and a year of transition for the rest of us. Are you ready to put it in the rearview and charge into the new year?

I'm sorry if I offend you when I wish you a Merry Christmas. Actually, I'm not. Guess you'll just have to deal with it.

They say if money is your sole motivator, you're in business for the wrong reason. Try telling that to my kids.

Getting out of a bad housing situation can be a difficult decision. Staying in a bad housing situation may be even worse.

The way to stay out of trouble is to look before you leap. It may seem like common sense, but blissful ignorance is no excuse for a bad decision.

As if I didn't already have enough to be thankful for this week, I get to release my inner redneck and fry up a bunch of turkeys Thursday. Yee-haw!

If you’re relying on some nameless faceless mutual fund manager to provide you with the returns you need to retire, you really need to think again.

Two mass shootings in two days last week, and the media scurries about to uncover the outside influences that 'caused' the tragedies. Are you flippin' kidding me???

The government touted Cash For Clunkers and the First-Time Homebuyers Tax Credit as economy-stimulating 'everybody wins' programs. Really? No, really??

I love helping people and walking them through the note-selling process. I don't appreciate, however, people who call expecting us to mentor them as if we are a charity.

...is another man's treasure. What does that mean in the real estate world? Opportunities, and plenty of them - IF you know what you're doing.

A recent business trip took me back to Dallas, a place I called home for almost five years. Turns out, that "homecoming" was the reason I missed out on an equally important "homecoming".

People who turn a blind eye to all the resources available about their local housing markets and insist nothing has changed in the last several years are the people we can't help.

Members of the media make it sound like we are all cooped up in our about-to-be-foreclosed homes, waiting out the recession like a bunch of hermits. Maybe they should have joined me in Denver this weekend.

No, I'm not talking about your migraines, I'm referring to your problem notes and/or problem properties. Take two aspirin and call Proficient in the morning.

Unemployment rates nationwide are approaching 10%, and I have to deal with attitude and apathy from some of these customer service reps that still have jobs? PLEASE...

I'm not a big fan of using someone else's material in my blog. I'm also hesitant to publish hypothetical situations vs. reality. However, this piece from Neal Boortz highlights the real risks to small business should our President get his way with healthcare reform.

If I call you and get your voicemail, I will leave a message and expect a return call. To me, that's reasonable. In reality, I'm either a very unreasonable guy, or I have a whole lot of inconsiderate people in my work life.

Anyone who doesn't remember this acronym from their days in school spent too much time playing hookie. Apparently our politicians in Washington skipped a lot of classes in their younger days.

Most middle schoolers want the latest in consumer electronics. My son wants his own house.

Landlords don't rent to deadbeat renters and credit card companies don't give credit to people in bankruptcy, yet we're about to entrust more of our incomes to the worst financial manager in the history of the world?

Life can be really annoying at times, throwing obstacles (some little, some big) at us when all we're looking for is a straight stretch with smooth passage.

Many states are seeing their budget deficits balloon just weeks after the fiscal year began. Why is the government allowed to spend money it doesn't have?

The media and our government have conditioned the masses to view anyone and everyone involved in banking, finance, real estate and/or mortgages as "The Bad Guys" in the current recession. Sorry, but perception doesn't always equal reality.

It's not a matter of if you'll hit rough spots on the road, just a matter of when. How will you react when it happens?

Four days of whitewater rafting on the Lower Salmon River is the perfect way to leave your worries, your schedule, and especially your cell phone behind.

My kids call me the “Word Nerd”. Some parents coach their kids on how to swing a baseball bat; I coach my kids how to use words to their advantage.

OK, so I'm ripping off an old Clint Eastwood movie for the title of my blog, but my weekend had a little of each.

Leave it to me to draw a parallel between a mountain bike ride gone bad and the nation's economic crisis.

A trip to a small resort town in Idaho this weekend is yet another grim reminder of how most everyone is feeling the pinch of our current economic situation.

That's the sound of your property rights being flushed. HR 1728 is a bill that snuck through the House of Representatives before the majority of us even know what it contained. Now we're battling to make our voices heard before the Senate makes the same mistake.

The Memorial Day weekend allowed me to reflect on not only my advancing age, but on those that came before me as well.

Kids don't get too excited when it comes to being taught financial discipline and the value of a dollar. To avoid the mistakes of past generations, however, teaching financial literacy is no longer an option.

We all have them. One thing (or many) that grates on us like sand in a swimsuit. Mine? Unreturned phone calls.

You may not be familiar with HR 1106, but its passage would have had far-reaching implications to anyone who holds, brokers, or invests in real estate notes. It passed the House in March, but was thankfully voted down in the Senate last week. What would have happened if both houses of Congress had passed it? Read this week's blog for one man's opinion...

The things people do to sell their properties never cease to amaze me. Sure, they eventually sell, but at what cost to the seller?

A note broker can help you find the best possible price for your note. Two (or more) note brokers working on your behalf is a recipe for DISASTER.

The economy is forcing more belt-tightening than a 20-year high school reunion. Even so, it's important to keep perspective so as not to lose sight of the very things that make life worth living.

A recent conversation with a note holder stressed the importance of cash in a depressed market.

After a week in sunny Tucson, coming home to three inches of snow is a bitter pill to swallow.

When searching for the best price for your real estate note, beware of the 'too good to be true' offers...they almost certainly are.

According to www.dictionary.com, a BONUS is a gift to reward performance. If that is an accurate definition, how can anyone justify bonuses to employees of companies who lost BILLIONS last year?

Whether it's your stock broker, your realtor, or your local car dealer, everyone will tell you it's a buyer's market. But how can that be when there are no buyers?

What approach has the best chance of reviving a repressed economy; trickle up or trickle down? A spirited debate with my uncle yesterday presents compelling arguments for both.

If you're still trying to work through the mortgage lingo and mumbo-jumbo to figure out what led to the mortgage mess, you must watch this.

The National Association of Realtors recently issued its 4th quarter 2008 report on home prices nationwide. How do you think your area is doing (perception) versus what the report says (reality)?

...will buy you an overpriced cup of coffee, and not much else, it seems.

Talk of the economic stimulus package is grabbing headlines nationwide. But isn't 'buying now, paying later' what got us into this mess in the first place?

Over 150,000 have been laid off this month. How is your cash position should the worst-case scenario come a'knockin'?

What can you do when your borrowers are delinquent or in default of their note? Simple...call Proficient.

Congress is currently considering legislation that would give bankruptcy judges the authority to change the terms of mortgage notes. How would this affect you, the noteholder? Read this blog to see it from the bankruptcy judge's point of view.

Most people have the same New Year's resolutions every time January 1st rolls around. Isn't there something fundamentally wrong with this statement?

Writing a blog about hopes for the coming year is easy. Being right about expectations and/or predictions is another thing altogether. So how did I do based on my blog written at the dawn of 2008?

In the spirit of Christmas and our current economic climate, please enjoy my take on a timeless classic.

One in six homeowners are upside-down on their mortgages. The biggest problem is that they are beginning to recognize it, and are bailing out.

It's easy to get distracted and go off on tangents when writing a blog. This entry is dedicated to why Proficient exists and how we can help you.

Our President-elect still has the "elect" hyphenated at the end of his job title, and already he's catching heat.

Retail sales on Black Friday were 3% higher than they were last year. A few people see that as encouraging news in the wake of this current recession. Most see it as shoppers desperately searching for bargains at a time when their budgets are stretched. Stretched or not, were Black Friday bargains ever meant to be a matter of life or death?

Thanksgiving is this week. Are you thankful for all you have, or just bellyaching about all you don't?

It was the best of times, it was the worst of times. This famous line from Charles Dickens starts A Tale of Two Cities. A recent trip to Las Vegas bore this out in two events I attended.

Restarting an exercise plan is like restarting our markets: It's going to be painful, but it needs to be done.

For the first time in the history of this blog, our Senior Vice President Matt Reilly contributes his thoughts on the importance of voting, and how to fix the credit market crisis we're currently experiencing.

Businesses with no ties to bad mortgages or Wall Street are now feeling the residual effect, and it ain't pretty.

There are days when I sit down to write this blog and my mind is as blank as a bedsheet billowing on a clothesline. Today is one of those days.

It's easy to take for granted everything Moms do...until they're no longer able to do it.

Staying in your comfort zone when times get tough can make you quite uncomfortable indeed. Opening your mind to new contacts and new ideas can make all the difference in the world.

The stock market lost $1,200,000,000,000 in market value today. For those of you who can't keep track of all those zeroes, that's $1.2 TRILLION dollars.

People are finally taking notice that all is not well in the financial markets. How does an elephant in the room stay unnoticed for so long?

This weekend was proof that as bad as things have gotten, things can always get worse. Lehman files for bankruptcy, Merrill Lynch gets taken over by Bank of America, and AIG needs mega-billions in cash infusions to survive the storm.

Fall is my favorite season of the year...the changing colors, the crisp cool mornings, and football. Oh, and federal bailouts.

We all have them. One thing (or many) that grates on us like sand in a swimsuit. Mine? Unreturned phone calls.

Sure, you're still getting the same payment amount from your borrower, but it's buying less and less each month. Are you fed up just trying to stay fed up?

Almost everyone will agree the nationwide housing market is slumping terribly. A large percentage of these people, however, will also insist their local market hasn't been affected at all. HUH???

There's nothing like a high school reunion to take a look back at where we've been and look forward to where we're going.

Another industry heavyweight removes itself from the business. Here we look back at the last 15 years of the seller-financed business and its constant evolution. (or is that dissolution?)

You often hear the term 'due diligence' when a real estate note is being traded on the secondary market. What does it mean, and how does it affect you?

Every industry has its own language, and the mortgage business is no different. Lest I forget that many don't understand the gobbledegook, a more sympathetic blogger emerges this week.

To borrow phrasing from an old country song, borrowers with sketchy credit histories or unverifiable income need not apply to the household-name lenders for a loan these days.

Learning life lessons on what was supposed to be an adventurous but relaxing whitewater rafting trip was unexpected, yet fulfilling.

A CNN Money story today hints that the housing market is ready for a rebound. The key? First time homebuyers.

The county just sent me my 2008 tax assessment...what rock did they just crawl out from under???

In its monthly market report, OPEC said market volatility reconfirmed the view that "current price levels do not reflect supply and demand realities." That leaves only one explanation for what we're paying at the pumps: Price Fixing.

Exurbs, the communities beyond the suburbs, were once the haven for commuters who wanted the big house and room to run in exchange for a longer drive to/from work...but not anymore.

Hey, get your mind out of the gutter! We're talking foreclosures, and how its effects are far-reaching. If you think foreclosures are somebody else's problem, think again.

We all complain about the rising prices of gas, groceries, and airfare, but are any of us changing our bad habits as a counter-measure?

Whether it be the increase in gas prices or the decrease in home prices, past performance is absolutely no guarantee of future results.

As the recently appointed editor of the NoteWorthy newsletter, I figure it's time for some cross-pollination for anyone involved in the real estate industry.

If you agreed to finance the purchase of your property with the hopes of being paid off when the buyer could refinance, you may be holding your note a lot longer than you first anticipated.

Although seller financing isn't mainstream (yet), it's becoming much more viable as homeowners struggle to sell their properties.

Partial purchase options are beneficial to all involved, and can be an effective and attractive alternative to selling your entire note.

Selling your property to a family member or friend doesn't mean you have to take it in the shorts.

The property you sold had new carpet and linoleum, fresh paint, and new central heating and air. Are your buyers showing pride of ownership or treating it like a Fort Lauderdale hotel room during Spring Break?

Your borrowers have fallen on hard times and are looking to take advantage of your kindness until they can "get back on their feet." No problem - you're a nice person...but will your kindness take a bite out of your backside?

Precipitated by the subprime mortgage mess, major Wall Street firms are starting to fall. Let's take a look at one of the biggest contributing factors...credit.

*Due to the high number of positive responses to this blog, we have decided to keep the content posted for another week.* Congratulations. You sold your property. You're better off than a whole lot of people right now. Now you are struggling with selling your real estate note at a discount. The first step is to realize you're not necessarily selling at a loss.

I hear it every day - noteholders who are convinced the property they sold in the last two years has increased in value since the sale. Not to burst any bubbles, but the statistics aren't in their favor.

Many see the Federal Reserve's interest rate cuts as a Band-Aid for the ailing mortgage and real estate markets. Trouble is, it's going to take a tourniquet to stop the bleeding.

"Life is what happens while you're busy making other plans." The first time I heard that was as a senior in high school. It didn't even make sense to me then - you know, back when I was bulletproof. My, how times have changed.

Writing a blog once a week doesn't sound that hard. Throw out a few musings, complain about the worsening economy, and wait for next Monday to roll around with more of the same. This week, I'm pledging to search for the bright side, since dwelling on the negative simply isn't my nature.

If you're a 'market-watcher' like me, you can understand the comparison of a big sell-off to a traffic accident: You know it's going to be bad, but you just can't help sneaking a peek when your eyes should be on the road ahead.

What happens when the media convinces us a recession is inevitable? Do we pull back on our spending in anticipation, or does our lack of spending contribute to the cause?

Don't depend on NBC or USA Today for your daily dose of happiness. Chances are you won't have to look farther than the other people in your household.

The lights have been taken down, the tree has been dumped unceremoniously with the other trash at the curb, and all the presents have been opened. Now it's back to reality for most of us.

2007 was a rough year for the real estate and mortgage markets...many expect the trends to continue in 2008.

Selling your note may not make your Top 10 list of things to do this month, but it's not too early to think about next year.

It sounds so exciting; like watching C-SPAN or attending a city council meeting. But maybe, just maybe, you'll find some insight amongst all the ramblings.

A story on CNN's website today paints a grim picture of how far overboard some Americans went when it came to their home equity positions.

Bing Crosby was dreaming of a white Christmas, but many find themselves in the red after the holidays.

If you allow the media to dictate your mood each day, chances are you haven't been a real happy camper lately.

Noteholders often ask me why they should sell their note. They are happy collecting a payment every month, they have few issues with the borrower, and it's nice to have that little extra showing up in the mailbox each month. I will almost always agree that it's a good investment for them, but is it the BEST investment for them?

"Thank goodness the real estate market doesn’t affect me", you think to yourself…or does it??? Some people play music for a living. Others fix cars or build computers. I make my living in the privately-held real estate note business…it’s what I do.

Welcome to my very first blog entry…ever. I have two things I hope to achieve through this medium. First, I want it to be informative to you, the reader. Second, I intend to make you smile, maybe even laugh a little, while you're reading it.

Our efforts stay focused on note holders. If you are a note finder, a note broker, or anyone other than the actual note holder, please do not contact us.