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How Yahoo Might Sell Billions in Alibaba Stock and Pay No Taxes

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Yahoo! Inc. (YHOO) on Tuesday is expected to reveal something most companies usually try to keep secret: how it plans to avoid a multibillion-dollar tax bill.

The Web portal has spent more than a year figuring out how to cash out a chunk of its $40 billion stake in China-based Alibaba Group Holding Ltd. (BABA) Typically, a U.S. company faces a federal tax bill of about 35 percent when it sells stock in another enterprise for cash.

Yahoo took a $3 billion tax hit last year when it sold about $10 billion in Alibaba shares. This time around, activist investors are leaning on the Sunnyvale, California-based company to be more savvy.

Alibaba: China’s E-Commerce Giant

Marissa Mayer, Yahoo’s chief executive officer, probably will maintain at least part of the Alibaba holding to keep a finger in China’s fast-growing Web market. Were Yahoo to sell the entire stake, it could face a federal tax bill of as much as $14 billion.

Here are some of Yahoo’s options to avoid capital-gains tax, both legal:

Mimicking Malone

Last summer, John Malone’s Liberty Ventures wanted to avoid taxes on selling its stake in travel website TripAdvisor Inc. Liberty did so by transferring that stake, as well as online costume-retailer BuySeasons, to a new unit created specifically for the deal.

Photographer: Andrew Harrer/Bloomberg

Yahoo! is under pressure from activist investors to minimize the costs, especially after triggering a $3 billion bill last year after it sold a $10 billion chunk of Alibaba shares. Close

Yahoo! is under pressure from activist investors to minimize the costs, especially… Read More

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OpenPhotographer: Andrew Harrer/Bloomberg

Yahoo! is under pressure from activist investors to minimize the costs, especially after triggering a $3 billion bill last year after it sold a $10 billion chunk of Alibaba shares.

Under the plan, the new unit took out a $400 million bank loan. Most of that cash was destined for Liberty and the new unit’s stock spun off to Liberty shareholders.

The expectation was that TripAdvisor would acquire the new unit in exchange for the travel site’s own stock. TripAdvisor also agreed to repay the $400 million loan.

When it’s all wrapped up, Liberty Ventures gets cash and exits TripAdvisor — without incurring the tax bill a straight sale would trigger. Liberty’s shareholders get stock in TripAdvisor as though Liberty had distributed its holding in the site to its own investors. Liberty’s investors also don’t face taxes on the deal.

In Yahoo’s case, it would spin off its stake into a new entity, which would borrow money and distribute the cash to the Internet company.

“The tax savings sort of gets carved up between the two parties and they each get a chunk,” said Robert Willens, an independent tax-accounting analyst in New York City.

Channeling Buffett

Another option is to follow Warren Buffett’s lead, with what’s known in tax circles as the cash-rich split.

Berkshire Hathaway Inc. and Graham Holdings Co. (GHC) last March agreed to a deal that lets Buffett’s company unload its stake in the former Washington Post Co. while avoiding capital-gains tax.

That deal called for Graham to transfer cash and a Miami television business — combined, roughly equal to Berkshire Hathaway’s investment — into a new subsidiary. Graham then shifts stock in that new unit to Berkshire Hathaway, while Buffett’s company moves its Graham stake back to the media company.

Economically, it’s as though Berkshire Hathaway sold its Graham stake for cash — and a TV station. But because the deal is structured as an exchange of shares, not a straight-up sale, it gets tax-free treatment.

Were Yahoo to follow this route, it would exchange Alibaba shares for a stake in a new unit that would consist mostly of cash. Alibaba would have to shed some assets for Yahoo to get the advantage of such a deal; a cash-only transaction probably would trigger a tax bill. Accounting experts say it shouldn’t be difficult to find something to throw in the pot.

With assistance from Brian Womack in San Francisco and Alex Sherman in New York.

To contact the reporter on this story: Jesse Drucker in New York at jdrucker4@bloomberg.net

To contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net Tony Robinson, Reed Stevenson

Press spacebar to pause and continue. Press esc to stop.

[…]

All-Cash Share of U.S. Home Sales Pulls Back From 3-Year High, Institutional Investor Share Drops to 3-Year Low

IRVINE, CA–(Marketwired – Aug 19, 2014) – RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its Q2 2014 U.S. Institutional Investor & Cash Sales Report, which shows all-cash sales accounted for 37.9 percent of all sales of single family homes and condos nationwide in the second quarter, down from a three-year high of 42.0 percent in the previous quarter but still up from 35.7 percent a year ago.

The report also shows that sales to institutional investors — entities that purchase at least 10 properties in a calendar year — accounted for 4.7 percent of all sales of single family homes and condos in the second quarter, down from 5.3 percent in the previous quarter and down from 5.8 percent a year ago to the lowest level since the first quarter of 2012.

“The flurry of purchases by institutional investors and other cash buyers that kicked off two years ago when U.S. home prices hit bottom is finally showing signs of subsiding,” said Daren Blomquist, RealtyTrac vice president, noting that the U.S. median home prices bottomed out in March 2012. “Over the past 10 quarters cash sales have accounted for 39 percent of all home sales on average, and institutional investor purchases have accounted for 5.3 percent of all home sales on average. Prior to that, from 2001 to 2011, the average quarterly cash share was 30 percent, and the average quarterly institutional investor share was 2.6 percent.”

“This is a classic good news/bad news scenario for the housing market,” Blomquist continued. “The good news is that fewer cash buyers should help loosen up inventory of homes for sale and reduce competitive bidding, giving first time homebuyers and other non-cash buyers more opportunities. The bad news is that some of those first time homebuyers and other non-cash buyers may already be priced out of the market thanks to the rapid run-up in home prices over the past two years in many areas.”

Cash sales account for larger share of very high-end, low-end and distressed sales
The report shows that U.S. cash sales hit a recent peak of 45.8 percent of all home sales in the first quarter of 2012, when home prices bottomed out, but were down to as low as 34.0 percent of all sales in the third quarter of 2013 before jumping to 36.6 percent in the fourth quarter on the heels of the rise in interest rates and jumping again to 42.0 percent of all sales in the first quarter of 2014, when new qualified mortgage rules from the Consumer Financial Protection Bureau took effect.

Cash sales in the second quarter were skewed higher on both ends of the home price spectrum. Cash sales accounted for 67 percent of purchases of homes selling for $100,000 or less, and cash sales accounted for 45 percent of purchases of homes selling for more than $2 million.

Cash sales represented a larger share of distressed sales, with 49 percent of bank-owned sales, 61 percent of sales of properties in the foreclosure process, and 96 percent of sales at the foreclosure auction. By comparison, non-distressed home sales were 36 percent all-cash.

Cash sales more than half of all sales in Miami, New York, Detroit, Atlanta, Las Vegas
Among metropolitan statistical areas with a population of at least 500,000, those with the top six highest percentages of cash sales were all in Florida: Miami-Fort Lauderdale-Pompano Beach (64.1 percent), Cape Coral-Fort Myers (62.1 percent), Sarasota-Bradenton-Venice (61.5 percent), Tampa-St. Petersburg-Clearwater (54.6 percent), Lakeland (53.0 percent), and Orlando-Kissimmee (52.2 percent). All six metros posted a lower all-cash share of sales than the previous quarter and a year ago.

Other major metro areas with an all-cash share among the top 20 highest nationwide were Las Vegas (50.7 percent), New York (48.2 percent), Detroit (47.7 percent), Kansas City (46.8 percent), Philadelphia (45.1 percent), and Cleveland (45.1 percent).

Analysis of percentage of cash sales with subsequent financing
RealtyTrac analyzed more than 7,500 all-cash transactions for single family homes in Orange County, Calif., between January 2013 and July 2014 to determine what percentage of the properties purchases were subsequently financed by the buyer.

The analysis found that 10 percent of those all-cash purchases had some sort of subsequent mortgage taken out by the owner who purchased with cash. The subsequent financing was recorded on average 136 days after the sale of the property was recorded.

Institutional investor share increases in Las Vegas, Jacksonville, Columbus, Miami
Among metropolitan statistical areas with a population of at least 500,000, those with the highest share of institutional investor purchases in the second quarter were Atlanta-Sandy Springs-Marietta (15.6 percent), Las Vegas-Paradise (14.4 percent), Jacksonville, Fla., (12. 5 percent), Memphis, Tenn. (12.0 percent), and Charlotte-Gastonia-Concord (11.3 percent).

Although Atlanta documented the highest share of institutional investor sales in the second quarter, its 15.6 percent share was down from a 20.6 percent share in the first quarter and a 16.5 percent share in the second quarter of 2013 — following nine consecutive quarters with year-over-year increases in Atlanta’s institutional investor share.

The institutional investor share of home purchases were also down from a year ago in Memphis and Charlotte, but increased from a year ago in Las Vegas and Jacksonville, bucking the national trend.

Other metro areas among the top 10 for institutional investor share with increases from a year ago were Knoxville, Tenn., (10.0 percent compared to 6.9 percent a year ago); Columbus, Ohio (9.2 percent compared to 6.9 percent a year ago); and Miami (8.2 percent compared to 6.7 percent a year ago).

Institutional investor breakdown: price, foreclosure status, financing and bulk sales
The report shows that the second quarter share of institutional investor purchases was the lowest since the first quarter of 2012, when they represented 4.6 percent of all U.S. home sales. The peak in institutional investor share of all sales was 6.0 percent in the first quarter of 2013.

In the second quarter institutional investors purchased homes at an average sale price of $147,017, while the average estimated full market value of the homes purchased was $164,553 at the time of the sale.

The majority of purchases made by institutional investors in the second quarter were all-cash (79 percent) and not in any stage of foreclosure or bank-owned (80 percent). Of the remaining 20 percent, 7 percent were bank-owned, 11 percent were scheduled for a foreclosure auction, and 2 percent were in default with no foreclosure auction date set.

Analysis of institutional investor bulk transactions on single family homes
Among the 29,444 single family homes purchased by institutional investors in the second quarter, 8,856 (29 percent) were bulk transactions involving multiple properties sold on the same date from the same seller and to the same buyer. The 29 percent bulk transactions was down from 31 percent in the previous quarter but still up from 19 percent a year ago.

An analysis of the buyers and sellers involved with the bulk transactions indicated that most of the bulk transactions involve an institutional investor with multiple corporations purchasing properties that are consolidating all of those properties under a single ownership name. A detailed breakdown of buyers and sellers involved in these bulk transactions is available upon request.

Report methodology
The RealtyTrac U.S. Institutional Investor & Cash Sales Report provides percentages of all sales that are sold to institutional investors and cash buyers, by state and metropolitan statistical area. Data is also available at the county and zip code level upon request. The data is derived from recorded sales deeds and loan data. Statistics for previous quarters are revised when each new quarterly report is issued as more deed data becomes available for those previous months.

Special note on methodology change in second quarter of 2014: RealtyTrac adjusted its methodology for calculating cash sales, changing how loan coverage was determined and eliminating data from one of the data providers used in the past.

Definitions
All-cash purchases: sales where no loan is recorded at the time of sale and where RealtyTrac has coverage of loan data.

Institutional investor purchases: residential property sales to non-lending entities that purchased at least 10 properties in the last 12 months.

Report License
The RealtyTrac U.S. Residential & Foreclosure Sales report is the result of a proprietary evaluation of information compiled by RealtyTrac; the report and any of the information in whole or in part can only be quoted, copied, published, re-published, distributed and/or re-distributed or used in any manner if the user specifically references RealtyTrac as the source for said report and/or any of the information set forth within the report.

Data Licensing and Custom Report Order
Investors, businesses and government institutions can contact RealtyTrac to license bulk foreclosure and neighborhood data or purchase customized reports. For more information contact our Data Licensing Department at 800.462.5193 or datasales@realtytrac.com.

About RealtyTrac
RealtyTrac is a leading supplier of U.S. real estate data, with nationwide parcel-level records for more than 129 million U.S. parcels that include property characteristics, tax assessor data, sales and mortgage deed records, Automated Valuation Models (AVMs) and 20 million active and historical default, foreclosure auction and bank-owned properties. RealtyTrac’s housing data and foreclosure reports are relied on by many federal government agencies, numerous state housing and banking departments, investment funds as well as millions of real estate professionals and consumers, to help evaluate housing trends and make informed decisions about real estate.

FinanceReal EstateRealtyTracInstitutional Investor […]

Most Orlando luxury estate buyers come with cash in hand

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The buyer who purchased Dwight Howard‘s estate in Seminole County last month wasn’t the Orlando market’s only luxury seeker to come with cash in hand.

The NBA star had three cash offers on his lakefront mansion, which sold last month for $3.4 million — $1.5 million less than the asking price.

Of the 20 Metro Orlando homes that sold for $2 million or more during the second quarter, 12 of them, or 60 percent, went for cash, according to a new study by the real estate research firm RealtyTrac. Nationally, 45 percent of buyers in that price range paid cash during the period.

Related Dwight Howard unloads Chateau D’Usse for $3.4 million Get text alerts on your phone! Pictures: Orlando power brokers Photos Pictures: Orlando powerhouse businesses Pictures: Closed for business: Orlando-area retail and restaurant closings Pictures: Notable chains make their way to Orlando See more photos » Topics Orlando Real Estate Homes Real Estate Buyers See more topics »

Regardless of how they are funded, the number of high-end deals has increased in the Orlando market. Reports from the Orlando Regional Realtor Association show that the core Orlando market, which mostly includes Orange and Seminole counties, had 156 sales of $1 million or more from January through July — more than double the rate five years ago during the real-estate downturn.

“The vast percentage of my high-end sales have been cash” for at least the past year, said Nancy Bagby, an associate for Fannie Hillman and Associates of Winter Park. “There are a couple of reasons for this. For one, we’re getting cash offers from people who know they can get a better deal if they don’t have a 30-day contingency on getting financing.”


Pictures: Orlando attractions that have closed

In addition, she said, cash buyers can avoid going through the appraisal process. Appraisers have come under fire from real-estate agents for various reasons — including being too conservative and being unfamiliar with neighborhood values, according to a 2013 survey of agents by the National Association of Realtors.

Anecdotally, real-estate agents say those buyers also “crowd-fund” by getting friends and family to loan them cash so they have a better chance of getting a contract in multiple-offer situations, said Daren Blomquist, vice president of RealtyTrac. After the sale closes, they secure more traditional financing to repay their original lenders.

In markets such as Orlando and Miami, the high proportion of cash sales is also being driven by foreign buyers who are looking for a place to park some of their savings.

“The thing we hear the most from brokers and agents working with foreign investors is that the U.S. real estate market is considered a safe haven and, now that it’s coming off from a downward cycle, they also consider it a value proposition,” Blomquist added.

Wayne Weger, the listing agent on Howard’s house, said prospective buyers for the home on Markham Woods Road were all of Middle Eastern descent. But they weren’t looking for a safe haven for their money as much as they were seeking a place to enjoy their success, he said. Software entrepreneur Nisim Heletz purchased the 11,000-square-foot house.

Just as Orlando had a disproportionately high rate of cash deals in the upper end of the residential market, it also attracted plenty of cash for more affordable housing. For houses and condominiums selling for $100,000 or less, more than 80 percent of the buyers paid cash in Metro Orlando. The rates were 78 percent statewide and 67 percent nationally.

The number of cash deals is declining in Florida, however. In the four-county Orlando region, 52 percent of residential sales during the second quarter were cash — down from 56 percent a year earlier. The rate of cash buying declined similarly throughout the state but increased slightly across the nation.

mshanklin@tribune.com or 407-420-5538407-420-5538

[…]

Pensacola leads state in Payday loans | Rick's Blog

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Greater than one-in-three payday loans made in the state of Florida are done in the Pensacola, according to a study by the Research Institute on Social Economic Policy at Florida International University. Florida’s payday lending industry is a $2.85 billion business.

“The region with the greatest number of payday loans was Pensacola, with Miami and Orlando in distant second and third place, respectively,” reported RISEP. “The Pensacola metropolitan statistical area has a population of about 455,000 compared to Miami’s regional population of 5.7 million. However, the Pensacola region was home to 39.9 percent of all Florida payday loan transactions in 2012 while the more populous Miami accounted for 17.8 percent of payday transactions.”

Another horrible statistic for our community to lead the state.

The size of the payday lending industry is driven by “loan churning” as borrowers renew loans or take out another loan within days of paying back a loan. According to the report, the lenders charge an average annual percentage rate (APR) of 280 percent for a two-week loan. The typical payday lending customer uses 25 percent of their biweekly grow income on payday loans.

The Community Enterprise Investments, Inc. is partnering with the Raise Florida Network, Zion Hope Primitive Baptist Church and Friendship Primitive Baptist Church to host a town hall meeting Payday Lending on Aug. 28 at Zion Hope. I will post more information closer to the date.

Post Published: 13 August 2014

Author: Rick Outzen

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[…]

How to Compete With All-Cash Home Buyers

As cash buyers continue to inundate ;recovering markets, it’s easy to feel like the underdog ;if your offer includes a pre-approval letter for a mortgage.

In some places — ;especially in the Midwest and Florida — ;more than half of sales in the first quarter of 2014 were closed with cash, ;according to a recent Zillow analysis.

“Cash is always the deal-sealer and the best way to get deals,” said Joe Spake, a longtime real estate agent in Memphis, where nearly half of first-quarter sales were all-cash. “Just, not a whole lot of people have it, especially in the regular-people realm. The average working person is going to have to get a mortgage.”

Across the country, cash buyers are on the decline, but in some markets you’re still very likely to be pitted against one. We asked agents in the country’s most cash-rich markets for advice for buyers who want to stay competitive without ;cash.

The Bottom Line is the Bottom Line

Cash buyers come in looking for a deep discount, said Tony Baroni, an agent in ;Tampa, which trails only Miami in the percentage of homes purchased with cash.

“At the end of the day, all the seller cares about is how much money they’ll get,” Baroni said. “Some sellers don’t care if it’s cash or financed.”

Tucson agent Spirit Messingham has seen buyers get intimidated when they go up against all-cash offers.

“What I tell people … is that most sellers don’t care if I give them a bag of dirty old cash or if I give them a loan from a local lender,” he said.

Get a Solid Loan

If you can’t write a fat check, get pre-approved and know how much you can put down on a home before you start shopping, agents said. Spake believes it’s worth seeking out a local lender. ;The seller or listing agent might even recognize the lender’s name — ;or at least the bank’s name — ;and that could give you an edge.

Plus, Spake said: “I can go to that person’s office and stand on his desk if I have to.”

How Much Do You Want it?

Cash buyers are often investors, so they’re looking for a great deal. If a competing buyer is shopping for a home, it’s sentimental. The home ;might be worth more to them than the asking price.

“When we go up against a cash buyer, you need to act decisively,” Messingham said. “How badly do you want it? Because it’s not just an investment. It’s not like we’re trying to buy Apple [stock] at a 52-week low. This is going to be your home.”

Lyn Miller, an agent in Miami, agreed: “Sometimes you’ve got to offer over the asking price to get them.”

Keep it Simple

One major advantage of cash is simplicity. Relying on the ;loan process adds a level of complexity to the deal. To compensate for that, agents said it’s important to make your offer straightforward and simple.

Baroni recommends short inspection periods and lots of earnest money.

In Memphis, a popular market for investors, Spake tells his buyers ;not to ask for anything they don’t really need.

“The bottom line for me is to make the cleanest deal for the seller possible,” he said. “I want them to pick me, and I don’t want them to have a lot of hidden paragraphs” in the offer.

Personalize It

Baroni took a chance recently and delivered an offer with a photo of his buyer and a letter explaining the buyer’s story. The offer came in $5,000 lower than the highest offer on the table, but the seller picked his client anyway.

A human angle is something investors often can’t bring to the table, and it can sometimes seal the deal just as well as a briefcase full of George Washingtons.

Read More from Zillow:

Metros ;Where Cash Buyers Dominate the Market 10 Markets Where Borrowers ;Have the Edge 15 Cities Where Renting Rules

Emily Heffter, a reporter and writer for Zillow Blog, covers celebrity real estate, unusual properties, and other real estate topics. Read more of her work ;here.

;

[…]

How to compete for a home without cash

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Real estate

How to compete for a home without cash

Emily Heffter Zillow

2 hours ago

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As cash buyers continue to inundate recovering markets, it’s easy to feel like the underdog if your offer includes a pre-approval letter for a mortgage.

In some places — especially in the Midwest and Florida — more than half of sales in the first quarter of 2014 were closed with cash, according to a recent Zillow analysis.

Lynne Sladky / AP

In cash-rich markets such as Miami, would-be home buyers without a lot of money should consider these tips to seal a deal.

“Cash is always the deal-sealer and the best way to get deals,” said Joe Spake, a longtime real estate agent in Memphis, Tennessee, where nearly half of first-quarter sales were all-cash. “Just, not a whole lot of people have it, especially in the regular-people realm. The average working person is going to have to get a mortgage.”

Across the country, cash buyers are on the decline, but in some markets you’re still very likely to be pitted against one. We asked agents in the country’s most cash-rich markets for advice for buyers who want to stay competitive without cash.

The bottom line is the bottom line

Cash buyers come in looking for a deep discount, said Tony Baroni, an agent in Tampa, Florida, which trails only Miami in the percentage of homes purchased with cash.

“At the end of the day, all the seller cares about is how much money they’ll get,” Baroni said. “Some sellers don’t care if it’s cash or financed.”

Tucson, Arizona, agent Spirit Messingham has seen buyers get intimidated when they go up against all-cash offers.

“What I tell people … is that most sellers don’t care if I give them a bag of dirty old cash or if I give them a loan from a local lender,” he said.

Get a solid loan

If you can’t write a fat check, get pre-approved and know how much you can put down on a home before you start shopping, agents said. Spake believes it’s worth seeking out a local lender. The seller or listing agent might even recognize the lender’s name — or at least the bank’s name — and that could give you an edge.

Plus, Spake said: “I can go to that person’s office and stand on his desk if I have to.”

How much do you want it?

Cash buyers are often investors, so they’re looking for a great deal. If a competing buyer is shopping for a home, it’s sentimental. The home might be worth more to them than the asking price.

“When we go up against a cash buyer, you need to act decisively,” Messingham said. “How badly do you want it? Because it’s not just an investment. It’s not like we’re trying to buy Apple [stock] at a 52-week low. This is going to be your home.”

Lyn Miller, an agent in Miami, agreed: “Sometimes you’ve got to offer over the asking price to get them.”

Keep it simple

One major advantage of cash is simplicity. Relying on the loan process adds a level of complexity to the deal. To compensate for that, agents said it’s important to make your offer straightforward and simple.

Baroni recommends short inspection periods and lots of earnest money.

In Memphis, a popular market for investors, Spake tells his buyers not to ask for anything they don’t really need.

“The bottom line for me is to make the cleanest deal for the seller possible,” he said. “I want them to pick me, and I don’t want them to have a lot of hidden paragraphs” in the offer.

Personalize it

Baroni took a chance recently and delivered an offer with a photo of his buyer and a letter explaining the buyer’s story. The offer came in $5,000 lower than the highest offer on the table, but the seller picked his client anyway.

A human angle is something investors often can’t bring to the table, and it can sometimes seal the deal just as well as a briefcase full of George Washingtons.

More from Zillow:

Metros Where Cash Buyers Dominate the Market

10 Markets Where Borrowers Have the Edge

15 Cities Where Renting Rules

Emily Heffter, a reporter and writer for Zillow Blog, covers celebrity real estate, unusual properties and other real estate topics. Read more of her work here.

© 2006-2014 Zillow Inc., All Rights Reserved

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Home Loan Arranger, Jason M. Ruedy Discusses Dilemma of Competing for Home Purchases with All-Cash Buyers

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The Home Loan Arranger

Don’t Put Your Loan in Danger; Call the Loan Arranger

Denver, Colorado (PRWEB) June 26, 2014

The Home Loan Arranger, mortgage lender Jason M. Ruedy, realizes the difficulty non-all-cash potential home buyers are experiencing in certain real estate markets as they compete with all-cash buyers.

An article published on Marketwatch.com on June 6, 2014, entitled “How to Beat Out All-Cash Home Buyers,” stated that the increase in all-cash deals has created difficulties for high-end home buyers who plan to use a mortgage to win bidding wars. Many non-all-cash buyers are turning to lenders who are able to close loans quickly or offer a range of financing options.

“The article on MarketWatch.com specifically talks about cities such as Miami, Las Vegas, and New York – where all-cash deals have become extremely common over the past few years. Unfortunately, I have seen some of my clients in Colorado and Pennsylvania lose to all-cash bidders on homes that they really wanted. It’s disappointing when this happens, and I truly feel regret ever time – even though nobody is really to blame.” – Jason M. Ruedy, The Home Loan Arranger

According to the MarketWatch.com article, there are a few things that potential homebuyers can do if they are planning to purchase a home with financing and are discouraged that their offers might not win against all-cash bidders:

1) Be patient – not all cash bids actually result in closed sales; 2) Be flexible – make an offer to purchase more attractive by obtaining home equity lines of credit on other properties or coming up with a larger than 20 percent down payment via other means; and 3) Be aware of current real estate market conditions – if a real estate agent says that a piece of real estate is only going to be sold to an all-cash bidder, don’t waste time on it.

“In a highly competitive real estate market, it’s essential that potential home buyers work with extremely organized and competent mortgage lenders who are willing and able to close loans quickly. I always bend over backwards for my clients to make sure they have the best shot possible at purchasing the property they want.” – Jason M. Ruedy, The Home Loan Arranger

About The Home Loan Arranger:
Mr. Jason M. Ruedy, also known as The Home Loan Arranger, has 20+ years of experience in the mortgage business. His company was built around the crucial principles of hard work, discipline, and determination. The Home Loan Arranger evaluates client applications quickly and efficiently and structures loans with the best possible terms. Mr. Ruedy is successful in achieving loan closings for clients while meeting their highest expectations. Jason M. Ruedy is ranked #2 in the state of Colorado by Scotsman Guide, which is the top leading resource for mortgage originators.

For media inquiries, please contact Mr. Jason M. Ruedy, “The Home Loan Arranger”:

The Home Loan Arranger
512 Cook St #100
Denver, CO USA
Phone: (303) 862-4742
Toll Free: (877) 938-7501
http://www.thehomeloanarranger.com/


[…]

InstaLoan Experiences Continued Growth

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We aim to help as many people as we can with getting the financing they need, while making the entire process as convenient as possible.

Savannah, GA (PRWEB) March 11, 2014

InstaLoan, a subsidiary of TMX Finance, has continued its steady rate of growth now offering 130 store locations across Georgia and Florida. As one of the country’s fastest growing consumer finance companies, InstaLoan has plans to continue its expansion throughout the course of 2014. Since the beginning of the year, InstaLoan has opened more than ten locations in various markets, including Atlanta, Orlando, and Tampa. Additional locations are planned for Albany, Atlanta, Miami, Orlando, Tallahassee, Tampa, and West Palm Beach. Individuals in these areas will have the opportunity to get the cash they need through a variety of different loan options including: 1st lien loans, personal loans, and signature loans.

“Our steady rate of growth is a positive indicator that InstaLoan offers a much needed service,” said Linda McDonald, Vice President of Operations for InstaLoan. “We aim to help as many people as we can with getting the financing they need, while making the entire process as convenient as possible.”

InstaLoan offers a variety of different types of financial solutions, including: 1st lien loans, signature loans, and personal loans. To secure a short-term cash loan, an individual must have a government-issued ID and proof of income. Some loan products require a vehicle registered in the applicant’s name or loan documentation for the vehicle. Individuals with good, bad, and no credit can be approved for a short-term cash loan with InstaLoan. Hours of operation are Monday – Friday from 9:00 a.m. to 7:00 p.m. and Saturday from 10:00 a.m. to 4:00 p.m. and our stores can be reached by calling 855-849-LOAN. To learn more about the loan products offered by InstaLoan, click here.

InstaLoan has 130 locations throughout Georgia and Florida and plans to continue its growth this year. Click http://www.instaloan.com/store-locator/ to find a location near you.

About InstaLoan

Our history: InstaLoan, a subsidiary of TMX Finance, opened its first location in Macon, GA in 2006 under the EquityAuto Loan brand. Since then the company has grown to over 120 locations in Georgia and Florida.

What we offer: InstaLoan is one of the fastest growing consumer loan companies in the country. InstaLoan offers a variety of short-term lending solutions, including: 1st lien loans, signature loans, and personal loans, to individuals with all types of credit profiles. InstaLoan focuses on providing people with the cash they need by working with them to determine the best type of loan for their situation.


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Woman accused of defrauding 83-year-old gets caught

FORT LAUDERDALE –

Ana Maria Cordero-Noriega waited outside of stores in South Florida to prey on victims, police said.

Lie, after lie, she convinced them to give her cash, and go on shopping sprees that included electronics, luxury watches and clothes at stores like Macy’s and Best Buy.

It all started with a winning lottery ticket. Victims told police Cordero-Noriega, 34, said that because she was an undocumented migrant, she needed help to cash it.

Her accomplice, victims said, impersonated a lottery representative. The problem: The lottery representative needed cash to help them cash the ticket. In exchange for the victim’s cash loan, Cordero-Noriega promised she would share a portion of her winnings, police said.

It was a tempting deal for many. Officers finally caught up to her on Wednesday.

Police arrested her for allegedly defrauding a victim she met outside of a Sedano’s supermarket in Pembroke Pines on Sept. 25th.

Cordero-Noriega told an 83-year-old woman she would get $30,000 for her help. The victim went to the bank and applied for a loan. She was approved.

After a shopping spree, Cordero-Noriega and two accomplices took off with $17,000 in cash and some merchandise. They dropped her off in front of the Sedano’s.

Records show Cordero-Noriega has cases pending in Miami-Dade and Orange County. And she is facing charges of organized fraud, grand theft of the second degree, grand theft to a 65-year-old and older, unlawful use of false name or identity, false representation of ownership and dealing in stolen property.

Her bond was set at $250,000 Thursday.

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Walmart to Offer Payday Loans to Employees – The Daily Currant

Walmart announced plans today to create its own payday loan business to support its financially strapped employees.

In a press release posted on its website, the nation’s largest retailer said that it decided to launch the service after hearing complaints that workers often have trouble paying their monthly bills.

“It has recently come to our attention that our valuable associates sometimes just can’t make ends meet,” the statement reads. “That’s why we’re creating Walmart CashNow, a payday lender available exclusively to Walmart’s 1 million hourly employees.

“CashNow will help our associates get cash when they need it most at a competitive interest rate. Finally they can borrow money to pay for things like rent, gasoline, food, medical bills and child care.

“Economic studies have consistently shown that access to credit is one of the driving forces in allowing the working poor to escape poverty. By providing these loans, Walmart is helping our associates reach the next level of success.”


Always Low Wages

Payday loans are small, short-term loans typically used to help low-income workers meet expenses between their paychecks. They have become ubiquitous in recent years, but are often criticized for their high interest rates and predatory marketing practices.

Although Walmart says it is protecting its employees by creating the new lender, it admits that CashNow is also expected to be highly profitable.

“We got a million people who would give anything to be able to pay their bills on time,” says Walmart’s human resources chief. “Obviously, our first thought was there is huge money to be made off of this. We estimate that at an interest rate of 2,900 percent APR we can bring in $10 billion a year loaning money to our own workers.

“But the best part is that because we already employ them, our associates will also be able to work off the interest rather than pay in cash. That’s a win-win. Financial flexibility for them, and cheap labor for us.”

“This is completely outrageous!” says veteran union leader Edward Asner. “Employees will now be indebted to their employer with no possible way out. That is not a job, it’s slavery. If they’re so worried about their workers not being able to pay their bills, why don’t they give them a raise?”

Not surprisingly members of the Walton family – who remain major shareholders in Walmart – disagree with that analysis.

“Look, no one is forcing anyone to do anything,” says Jim Walton, who inherited his fortune from Walmart founder Sam Walton. “You don’t have to work here and you don’t have to get an advanced pay day loan with a reasonable interest rate. These folks simply need to be more responsible in regards to spending their money.

“For example, when my family flew down to Miami for a nice get-a-way weekend last week, we could have booked several very nice executive suites at the Fontainebleau. But we didn’t. We got regular suites facing the ocean and ordered the crab instead of the lobster from room service.

“To be honest, I think a lot of these folks just need lessons on living a frugal lifestyle. I mean do you really need food for yourself and for your dog? Do you really need to be treating both your heart disease and your hemorrhoids?

“Life is all about choices. And I think our employees need to start making better ones. Take this hotel for instance. I would highly recommend our associates check into a standard cityview room. It starts at only $1,200 a night.”

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