Personal Finance – Page 42

5 Money To-Do’s For Newly-Married Couples

Believe it or not, there are still a lot of couples who got married in June and February this year. Many of them are still on their honeymoon bliss while the rest are starting to realize and are beginning to ask themselves what in the world did they enter into. It’s just not so like a single’s kinda life. 😀

So for those who just got hitched whether extravagantly or frugally, I’m pretty sure most of you are very excited for your new baby to arrive. You just could not explain the immense joy, hope, and love that new gift from heaven would bring to your new life. Continue reading 5 Money To-Do’s For Newly-Married Couples

6 Frequently Asked Questions About Foreclosed Properties

We have conducted two batches already of our Usapang Foreclosed Property Investing featuring our friend and real estate investing mentor Jay Castillo of ForeclosurePhilippines.com but people are craving for more.

That’s why we are offering the 3rd batch of this series to all those who were not able to attend the first two batches.

Before you join and register for the 3rd Usapang Foreclosed Property Investing seminar, here are few of most asked questions to help you out about foreclosed property investing taken from Jay’s website.

1. Are all properties listed by banks foreclosed?

ANSWER:

Bank listings usually only include foreclosed properties as they are not really in the real estate business. S

ometimes however, you will also see some bank acquired assets for sale which they got as payment through a dacion en pago or payment in kind, as a result of foreclosure proceedings.

2. Can I ask the bank for the copy of the title?

ANSWER:

Yes, just need to ask for a copy and they should give you a photocopy which you can use to check/verify at the registry or deeds by getting a certified true copy.

3. I am just curious what happens to the unsold properties in the auction? Does the bank reschedule them for another auction or can buyers make an offer to the bank at the starting bid price?

ANSWER:

For Unionbank, they usually set another auction for the unsold properties about a month later.

For auctions conducted by CBRE, they usually come out with post auction listings where “best offers” are considered, which means interested parties can submit offers below the minimum bid price.

For RCBC, they usually schedule another auction and take off 5% from the minimum bid price(MBP) for unsold properties.

4. Tanong ko lang po kung pwede pang mag habol yung dating may ari yung property pag fully paid na po ng buyer. And pano rin po pag dipa fully paid yung property pwede pa rin po basila mag habol?

ANSWER:

If tapos na yung redemption period, wala nang habol yung dating may ari.

If I’m not mistaken with the legal terms, the redemption period is one year after the execution of the foreclosure. Kahit hindi pa fully paid ang new owner, basta nag lapse na yung one year na redemption period, wala na ring habol ang previous owner.

Usually, banks only sell foreclosed properties whose redemption periods have already lapsed. Although they usually inform interested parties if the redemption period has lapsed or not, it would be better to double check, just to be sure.

5. Please expound the clause “as is, where is” for foreclosed properties?

ANSWER:

“as is, where is” generally means the buyer agrees to purchase the property at its present physical condition including but not limited to any problems or legal issues the property maybe involved in.

Best practice is for the buyer to thoroughly inspect the property and check for any lis pendens, annotations, etc., on the TCT plus trace-back plus any arrears on taxes, dues, etc. that maybe for the account of the buyer.

It would be highly recommended to check the auction guidelines as well on how the term “as is, where is” is defined by the bank conducting the auction.

6. What are the typical requirements to join an auction as a bidder?

ANSWER:

Aside from the show money or manager’s check, the winning bidder must submit all requirements as stated in the conditions of sale.

Learn More From Jay Castillo of ForeclosurePhilippines.Com

BATCH 3 is coming up!

Attend the ~~2nd~~ 3rd batch of the Usapang Foreclosed Property Investing seminar on September 26, 2015 at the SMX Aura Convention Center, Bonifacio Global City in Taguig City.

Early Bird: PHP 2,000 (until August 31, 2015 ONLY)
Regular (online): PHP 2,500
On the Day: PHP 3,000
* Food will be served

To register for the next Usapang Foreclosed Property Investing seminar, click the banner below or please go here-–>http://angatph.com/registration/

Learn more how to make your money grow through real estate by subscribing to BurnGutierrez.Com for FREE.

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P.S. 5. Learn How To Make Money From Foreclosed Properties! We are on our 3rd run of the Usapang Foreclosed Property Investing with Jay Castillo of ForeclosurePhilippines.com! Happening on September 26, 2015 at the SMX Aura, Bonifacio Global City. Click here to register and avail the early bird promo!

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Top 10 Types of Investment Scams (Infographic)

No matter how hard we try to warn our kababayans to observe due diligence and wise decision-making when offered by investments with guaranteed returns, many of them still do not listen and fall victims later on.

Surprisingly, some of them are aware that what they are getting into are real scams but they just shrug it off because they know that they will get their money back plus the promised returns the soonest possible time.

Those on top of the food chain do get the share of the pie. But the late bees settle for the bread crumbs if there are any at all.

Here’s a very straightforward infographic for you to share to your friends and loved ones provided to us by Paladin Registry from the U.S.

——-

It is important that you are aware of the 10 most frequent investment scams that are perpetrated on the public by licensed and unlicensed individuals.

However, that is not your best form of protection. Why? There will be an 11th scam and a 12th scam.

Consequently, it is more important to know some of the key features of scams so you can recognize and avoid all of them.

Your Expectations

You may have noticed most investment scams promise people high returns – in some cases very high returns (30%, 40%). The scam artists know you want high returns. They are simply telling you what you want to hear. The more the scam meets your expectations for superior returns, the higher the probability you will buy it.

This is more dangerous than it may sound. The promises that are made by scam artists have to sound realistic or red flags will pop-up and you won’t buy.

That is why many of them use exotic strategies, such as currency trading, because they know there is a good chance you will not be familiar with this type of investment.

Too Good to Be True

Another good rule of thumb: “If it sounds too good to be true it is not true.”

For example, the scam artists do not just promise superior returns. He promises high returns for low risk. He has described two major investor needs (higher performance, lower risk) in the same product.

There are no lower risk products that produce higher returns. You have to give up the potential for higher returns to reduce your exposure to risks.

The Referral Game

Another characteristic of a scam is the “Referral Game.”

This is a favorite tactic of the scam artists who run Ponzi Schemes. They make sure the early investors have a very positive experience even if it is based on fake performance reports. Then they ask for referrals to the investors’ friends, family, and associates. The unfortunate investors think they are doing people they care about a favor.

Watch-out for referrals. You still have to do your homework no matter how much you trust the person who made the referral.

My Advisor is My Friend

Bernie Madoff’s clients, who lost billions of dollars in the biggest Ponzi scheme in history, lamented: “I thought he was my friend.” He was not their friend, but he used sophisticated sales and relationship skills to make them believe he was their friend.

Scam artists want you to like them. They know you let your guard down when you like someone. You like them, then you trust them, then you buy what they are selling.

The investment of your assets should not be based on personalities, sales pitches, and undocumented sales claims. It should be based on rational, objective decision-making.

The Free Lunch

A lot of scams start with the free lunch, the free round of golf, or the free seminar. A lot of investors feel indebted when they accept the free offer.

This is the opening the scam artist needs to convince you to buy what he is selling. If the scam costs you a lot of money that may just be the most expensive lunch you have ever eaten.

Do not accept free offers until you have made an objective, rational, prudent investment decision. Even then you should avoid free offers that may interfere with your ability to make the right decisions.

Source: Jack Waymire, Investor Watchdog, Paladin Registry

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