10-13-09 info.

Ddp blog 10-13-09

Hi everybody.

We have been in communication with the EA’s office and we are trying to get the:

1 - exact start dates for the latest submissions.

2 – status on a certain bank (B of A) that the EA was working with to get modifications as a stop gap measure to delay foreclosures and short sales while the DDP is going through on those loans.

3 – proof of previous successful account results (from other DDP participants not referred by us).

Also, we have been working on some other exciting things for the group while we have been pressing the EA’s office for 1-3:

4 – We have been connected to a preferred SBA loan source (see DDP agent gmail for more info.). These funds could be used for keeping a mortgage paid during the DDP, running or a expanding a business, or anything else that a potential participant may need capital for - now. There are unsecured loans with short form apps as well, the Community Express and the Patriot Express.

5 – We are direct to a group that is funding business lines of credit for people with NO PERSONAL GUARANTEES. This is important because a lot of people cannot qualify for personally guaranteed funds.

A – There is a process (with one of our business/credit experts – NOW partners) that involves getting personal credit RESTORED which takes an average of 45-90 days in most cases

B - There are several levels of Corporate Structure that have varying degrees of credit available, up to 500K (and unlimited potential funds depending on circumstances including company size, available funds in corporate bank accounts, etc).

6 – We just got introduced to a membership association in CA that is purchasing a bank and they are already funding mortgages in CA and NV with their own FUNDS. Here are some more details about the loans:

A –100% LTV (loan to value) and they do work with 911’s! The highest priority loans (first funded) will be for people who were recently or who are currently involved in a foreclosure and or who may have already lost a home.

B – Common sense underwriting (if people can show logical proof of income to pay the VERY LOW PAYMENT – they will get the loan)

C – INTEREST ONLY (loan amount multiplied by rate divided by 12 = payment) with taxes, insurance and a small maintenance fee included in the (one) monthly payment

D – Principal NEVER due at end of loan or - EVER!

E – The [current] interest only rate is less than 3% - YES 3%!

E – The maximum loan amount is $1.5 million

F – The loans will only be available for homes in CA and NV to begin, but the lender is going to be able to lend in all 50 states in 2010 (moving to NM, AZ, and other western states SOON).

G – The mortgages are available for home purchases and refinances.

H – They will finance properties that are titled as business entities

I – We will be releasing more information about the new mortgage loans very soon. One of our friends of friends has already visited the firm’s offices in CA and NV and they have met with the founders/owners. They are 98% ready to launch with applications, all details, etc.

7 – We are hopeful that we will send out another blog update this week with good news regarding the DDP! We are doing everything we can do to get the EA to speed up the DDP and produce results!