Issue #55 - Brandon Cobb, The House Buyin Guys - Page 52

Focus on Opportunities , Not Obstacles
It ’ s your ongoing perceptions of these negative financial , health , and overall national and global situations that may best determine whether you succeed or not . “ Truth ” is just your personal perspectives based upon life experiences . In the well­known Five Stages Of Grief description about emotional reactions to traumatic and painful experiences which was first written by Elizabeth Kübler­Ross and David Kessler about the fear of death , the five stages are described as :
● Bankruptcy : For homeowners who are days or weeks away from losing their home at the final lender auction sale , they may consider filing Chapter 7 ( complete liquidation of most debts ) or Chapter 13 bankruptcy ( a longer term workout payment plan ) either on their own with online companies for just a few hundred dollars or with the assistance of an experienced bankruptcy attorney . The bankruptcy filing could delay the foreclosure auction date by weeks , months , or longer . Please seek quality legal assistance first .
● Foreclosures : Please note that the typical foreclosure date timeline is close to four months from the start to finish . In California ( a trust deed or non­judicial foreclosure state ), the lender may first issue some warning letters to the delinquent mortgage borrower up to several months .
The lender will then file a Notice of Default to start the foreclosure process . Ninety ( 90 ) days later , the lender will file a Notice of Trustee ' s Sale while advertising one day a week in a local legal newspaper for three consecutive weeks . If the loan hasn ' t been cured or paid with some new installment or workout plan , the lender could hold the final Trustee ' s Sale ( or auction ) approximately 120 days ( 4 months ) after the Notice of Default was filed .
In other states that are considered judicial foreclosure states , the foreclosure timelines may be similar or much longer , depending upon the caseload for nearby local courtrooms .
● Denial
● Anger
● Bargaining
● Depression
● Acceptance
The faster that you get through the first four states of grief , the faster that you will get to the “ Acceptance ” stage and your focusing on the potential opportunities and solutions .
What we tend to focus on in life is usually what we end up with later because our minds are like giant magnets , for better or worse . Please keep your eyes on your personal goals because the solutions will appear sooner rather than later if you ’ re willing to focus with 20 / 20­like perfect vision . For many real estate investors , they will find incredible buying opportunities in 2021 and beyond if they keep a positive mindset .
Rick Tobin has a diversified background in both the real estate and securities fields for the past 30 + years . He has held seven different real estate and securities brokerage licenses to date , and is a graduate of the University of Southern California . Rick has an extensive background in the financing of residential and commercial properties around the U . S with debt , equity , and mezzanine money . His funding sources have included banks , life insurance companies , REITs ( Real Estate Investment Trusts ), equity funds , and foreign money sources . You can visit Rick Tobin at RealLoans . com for more details .