First Step Equity was established by MCN Inc. in 2007 to give home buyers & investors access to homes in distress and to outline a simple method to acquire these homes.
Furthermore we are giving home owners a clear way out of debt and the home with credit in tact. We also outline an easy to follow program that will guide you to good equity in your home.
You've heard the expression that knowledge is power. By becoming a member of First Step Equity, you have taken the first step toward empowering yourself with the knowledge kept secret by the world's most successful real estate investors and entrepreneurs.
Real estate continues to be the number one wealth building strategy in the world today. Through this program you will receive an unparalleled service for locating properties below market value. Our unmatched and comprehensive pre-foreclosure database provides our customers with properties across the nation. In addition, our experienced customer service representatives are available to answer any customer inquiries.
Let us help you take that First Step!
The first thing one must remember about the market today is the fact that we are at a 40 years high for foreclosure.
This means home owners are losing their property, equity and credit all in one hit. However there are a few options available to get these homes before the auction and help the current home owner at the same time.
You first must get the market value and the loan balance, from there you know the equity in the home. In some homes there’s a gold mine. Also as a home owner in distress with the proper strategies you can slide out from under the rock of debt with credit intact, while establishing moving cost.
* Low Prices: Foreclosure sometimes sells for 20 to 50% below their true market values. More modest discounts of 5 to 10% are more common, but foreclosures are almost always priced lower than homes in the traditional real estate market.
* Great fixer upper homes: Many foreclosed homes are ‘fixer upper homes’ that need repairs, renovation and tender loving care. By investing a little sweat equity, most homebuyers find they can make significant profit by reselling the home after some relatively quick and minor repairs.
* Lower closing costs: The bank and government agencies that sell foreclosed homes are in a hurry, which means that they are often willing to accept lower offers on down payments, financing options, closing costs and all the other miscellaneous costs associated with buying a home. Many sellers will come right out and offer buyers great deals and contract terms simply to sell the house quickly.
* No move –in delays: Most foreclosures are vacant, meaning that you can move in almost immediately after purchasing the home, without having to wait for the previous owners to move out.
* Flexible financing: When banks sell foreclosed properties, they’re often willing to offer very flexible financing terms to sweeten the deal and sell the property more quickly.
* Profitability:
Buying foreclosure property has been going on for many years. Real estate investors were the only individuals utilizing these tactics. We now make it possible for anybody to step into this field of investing.
Get Financing
Obtaining financing in advance of a purchase allows you to determine what you can afford. It also allows you to move quickly once you find a property and establishes that you are a serious buyer. You will also not have to be concerned with "due on sale” which states that if the home is sold to another party the bank can call the loan due in full.
Contact an agent
If you’re a first-time buyer of a foreclosure property, a local real estate agent can help you through the process. Make sure that the agent understands your priorities, and has experience with foreclosures. Agents will see you as a serious buyer if you’ve already secured financing.
Why are the homes in foreclosure?
The homes are in default due to the owner not making their payments, this would be due to divorce, bad health, or loss of jobs from the declining market.
How do i take over on the loan?
You would set up a lease with the option to buy, the title will be transferred into your name the loan would remain in the current home owners name until you refinance the loan.
Why do i need to contact the home owners?
The current home owner is the only person who can transfer the title of owner ship so you will need to deal with them directly to buy the house.
Do i need to clear the default?
The default is between 2-4 months of back payments. When the bank recieves this they will stop the foreclosure auction, that way you can move in and make the payments.
How do i get the title of owner ship in my name?
The current home owners will deed you the title when you bail them out of the default.
How much are the monthly payments?
Based on loan balance for every $100,000 on a loan monthly payment will be $550-$650 per month. ($170,000 loan balance = $950 per month.)
Do I have to pay for this? Or is there a fee?
FirstStepEquity does charge a monthly $40 membership fee, but this will cover title searches, documents, support & all the listings we have nationwide.
How many title searches do i get?
Support will provide you with a title search for any home you have contacted from our listings.
What makes you different from the other pre-foreclosure companies?
We don’t just set you up with listing and let you do this blindly. We walk you through the process and assess your situation to see what would be the best approach for you.
By Telephone
Sales:
(805)683-8600
(mon-fri 8am-7pm
sat 9am-5pm)
Customer Service:
(805)683-8610
(mon-fri 9am-12pm/1pm-
Fax: (805)683-
By Email
Sales: sales@
Customer Service: support@
Technical Support: techsupport@
Billing/Cancellations:
Testimonials:
By Standard Mail
First Step Equity
298 Orange Ave.
Suite B
Goleta, CA 93117
We are a accredited business!
