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Grateful
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PostPosted: Wed Apr 06, 2005 2:29 pm Post subject: PIPS Realty Reply with quote
INDEX HERE
https://www.picrealty.com
NEVER PAY YOUR MORTGAGE AGAIN
YES! IT IS CORRECT - NEVER PAY YOUR MORTGAGE AGAIN
PIPS Realty gives you the REAL FINANCIAL FREEDOM to do what you have always wanted to do.
HOW IT WORKS
Register as a PIPS Realty member. Send PIPS Realty a certified copy of your outstanding mortgage account for the current month. PIPS Realty will verify your account and subject to confirmation and terms.
WE WILL THEN PAY YOUR MORTGAGE FOR YOU
IT IS THAT SIMPLE
YOU WILL NEVER HAVE TO PAY YOUR MORTGAGE AGAIN
PIPS Realty will make your monthly mortgage PAYMENT
https://www.picrealty.com
To download the form you will need a PDF form found HERE
PIPS REALTY SUPPORT
Call Direct
(Tel) +603 9283 6789
(Fax) +603 9282 7890
Don't forget to include the international access code found HERE
PaulM wrote:
Hello,
The whole point is because picrealty will only have to pay a much lower rate of earnings towards the mortgage, then they pay to us in pips!
So that means that it gives picrealty a chance to make much higher profits from our investment with them then they do with the 2%...
So this enables them to plough extra profits from picrealty into paying us our 2% in pips and making pips stronger and more long-lasting into many many years to come!
PLEASE GUYS REMEMBER THAT THE REASON THAT BRYAN KEEPS LAUNCHING NEW PROGRAMS IS NOT TO GIVE HIM MORE WHITE HAIR, BUT TO ENABLE HIM TO DIVERSIFY AND IS PART OF HIS BUSINESS PLAN THAT IS UNFOLDING, AND THAT WILL ENABLE HIM TO PAY US OUR 2% IN PIPS FOR YEARS AND YEARS TO COME!
THIS IS THE SAME REASON HE WILL TAKE SOME OF HIS COMPANIES TO IPO SOON... IT IS ALL PART OF HIS GRAND DESIGN...WHICH WILL GUARANTEE PIPS LONG TERM FUTURE!
My 2 cts
Sincerely
PaulM
jhutch wrote:
We are part of this program. I agree that the documents need editing and have mentioned this to [PIPS' spokeperson] in a correspondence in which they answered some of the concerns on the thread...
A few highlights...
PIPS Realty is a totally separate system from PIPS/PicPay and they are aware of the need to make timely payments...Payments will automatically be made 7 days ahead of schedule... Payments will become much larger after the first 6 months... Below is info we have shared with our SGA PIPSters Booster Club
PIPS REALTY Clarifications? some SGA Notes...
from a brief phone conversation with... PIPS spokesman ?shared at our Lancaster meeting on April 2, 2005?
In preparation for our SGA PIPSters Booster Club meeting in Lancaster, PA on Saturday, April 2, 2005, we called PIPS to get some answers to a few questions? Fortunately, a PIPS spokesperson was available and open to field our questions? You may read initial updates from the Hawaii convention thru SGA?s site under the ?Sundance Poolside News? menu tab.
Some clarifications regarding the PIPS Realty mortgage payment plan: www.picrealty.com :
1. One sign-up for one primary residential property only... (BTW, Connie and I have applied for this program and faxed our information on the forms provided ? receipt of the fax was confirmed during the call!)
2. Because the program reaches globally to every country, you will need to check with your CPA regarding how to best deal with the interest deductions or other specific issues as they relate to your country?s laws.
3. You can sell the property during the repayment program when PIPS Realty is paying your mortgage payment. You are responsible for all transition and settlement costs. You must also inform PIPS Realty about the sale so they can stop payment to your mortgage holder.
4. You may pay the 10% principle amount using PicPay funds.
5. There is no deed change or lien imposed on the property during this process.
6. SGA Note: Residential property only. One time per property. The intent is to help folks who are homeowners and not to create individual property management companies! If you do sell your home and buy another home which is your primary residence, you may then apply to the PIPS Realty program again.
7. SGA Note: If you check your 2% simulator, you can see many ways in which the 10% cost of the program could be transformed into greater funds in the long term. This program is designed to help folks pay it and forget their mortgage payment. We can always assume that programs are win-win solutions for appropriate situations. SGA?s Connie and John are trying the program for educational purposes and for meeting personal goals.
8. SGA Note: The PIPS Realty site and forms are at www.PicRealty.com [PIPSRealty.com was already taken by someone!] ? as often is the case with a new program, we can expect upgrades and evolution in the website?
--------------------------------------------------------------------------------
SGA submitted some questions to PIPS Realty, after our April 2nd SGA PIPSters Booster Club Meeting? the following are some of the questions and answers? We are grateful he took the time to read and answer your questions regarding the PIPS Realty program?.
Q1: "Will the payments be made on time?" ....
A: ABSOLUTELY.
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Q2: "My concern is that payments will be delayed and our credit rating will be hurt... How are they going to make timely payments? ...
A: ALL PAYMENTS WILL BE SENT SEVEN DAYS BEFORE THEY ARE DUE.
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Q3: "?.we know pips has problem for members who withdraw. What if PIPS don't pay your mortgage on times during 18 months? I don't think lot of members will join because they are afraid that they will get mortgage letter about late mortgage payments. What you think ?
I'm not trying to be rude, I'm just curious, ok"...
A: THESE ACCOUNTS WILL BE TOTALLY SEPARATE FROM THE 2%. THERE IS A FULL UNDERSTANDING OF THE URGENCY OF TIMELY PAYMENTS AND THEY WILL BE TIMELY. WE HAVE OVER 1000 APPLICANTS ALREADY.
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Q4: ?There is a concern, due the newness of the program and the issues with withdrawals, that the payments may not be made on time and that the participants' credit rating could be adversely affected... What system will be used to ensure that payments are made in a timely manner... also knowing that payments will be much larger than specified mortgage payments since it is a payoff situation???
A: THERE WILL BE A DIRECT DEBIT SYSTEM IN PLACE AND THE BANK WILL SEND THE PAYMENTS AUTOMATICALLY WHEN DUE. THE LARGER PAYMENTS WILL NOT COME INTO PLACE WITHIN THE FIRST SIX MONTHS.
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Q5: "We have signed up in the PIPS Realty program, but then the login failed, we called Malaysia and they didn't know. What do we do now? We have another PIPS friend who had the same problem.?
A: IT IS NOT A PIPS LOGIN. IT IS A NEW MEMBERSHIP AND YOU WILL HAVE TO REMEMBER THE LOGIN AND PASSWORD. THIS PROGRAM HAS NOTHING TO DO WITH PIPS OR PICPAY.
--------------------------------------------------------------------------------
Q6: "Since PIPS Realty changed to the new forms 4/1/05? do you know if we need
to re-do ours?
A: YOU WILL BE INFORMED AS THEY GET TO YOU
--------------------------------------------------------------------------------
Q7: ?? Everything is already notarized and faxed and now shows complete in the _view_ link under _Documents._
I will probably call PIPS Realty tonight when its daytime for them, but I
thought I'd see if you knew the answer.
We did not have any problems at all getting the account set up nor
getting the documents downloaded. Everything went smooth.
Now just hoping to get the payments started."
A: REALTY WILL REQUEST ANYTHING ELSE IF REQUIRED
--------------------------------------------------------------------------------
Q8: From SGA: ?The new forms also are inconsistent in asking for driver's license or passport number sometimes and only passport number on one or two places... we then have to assume that we can use the driver's license consistently throughout... is this correct??
A: ANY PHOTO id WILL SUFFICE
--------------------------------------------------------------------------------
Q9: ?There are no clear instructions regarding the schedule 1 that we were able to find... it is unclear if we are supposed to complete this information again or if it is for PIPS Realty use... it would be helpful to add a directions line at the top of this page... Please advise as to what we need to do??
A: WHAT EVER IS NOT UNDERSTOOD OR SENT WILL BE EXPLAINED AND REQUESTED BY THE SUPPORT WHEN GETTING BACK TO THE MEMBER AFTER THE RECEIPT OF APPLICATION.
--------------------------------------------------------------------------------
Hope this helps...
jhutch ? www.sundanceglobal.com
PS>>>>>>>>I don't get to this address very often, so please do not PM us, comments you want a response to may be addressed to the signature email...jh
QUESTION: How can Pips Realty decide to pay out your mortgage early without studying the fine print of your mortgage and without negotating directly with the company ? The document on the site is an agreement between Pips and the member. Pips wants only a certified statement by the mortgage company concerning the outstanding amount. Sounds like they don't deal directly with the mortgage co. HOW THEN CAN THEY NEGOTIATE AN EARLY PAYOUT?
jhutch wrote:
Obviously different banks and iinstitutions have varying programs... multiply that by the number of different countries and jurisdictions around the globe...
I don't know the answer to you question. I know the program does not address the details of any particular mortgage program and that is your responsibility...
I would guess that if there is a penalty in paying it off early, that you would need to really do your own investigation and decision-making... I'll bet that PIPS Realty is not going to do any of that, but rather will simply be getting our permission to payoff the mortgage... from the answers we were given above, it is a fairly straight program..Individual mortgage holders would need to researc their individual agreements and make decisions based on that research...
I can pretty much guess that PIPS Realty will not provide that kind of service...I think we may be making it a lot more complicated than it is in our own creations.... but each person needs to decide if their situation is a good fit for the program...
jhutch
jhutch wrote:
Quote:
I saw no mention of them taking over the mortgage from your existing bank. In fact they couldn't unless they paid the full value of your existing mortgage. If you have a $200,000 mortgage with National Australia Bank, JP MORGAN etc they won't release a mortgage until someone pays it out in full.
So if you gave pips $20k they are not going to give another bank $200k.
Instant $180k cash loss. Not going to happen. That would require a bank licence anyway.
The "official" answer we received was that the payments will be much larger after the first 6 months... there will be nothing done with deeds or liens... The program is only an agreement between PIPS Realty and us to pay our payments, not take over our lives, home, or other responsibilities!! I doubt that there is any real relationship with our mortgage holder, as far as we understand it...
PIPS Realty is a business as well, so the 10% "administrative fee" (10% of principal) I'm sure will also benefit PIPS Realty in a win-win situation... this is one reason we are doing the program...research... and it is inline with our own goals, only speeds up the timeline....
jhutch
I have signed up for the PipsRealty & read the thread - but still need to ask, who OWNS your home after PicRealty pays off your mortgage - You or Pips?
Your home never leaves your name. PIPS Realty just takes over making the payments for you. Once it is paid off the bank will turn over the clear title/deed to you.
Last edited by Grateful on Sun May 15, 2005 3:13 pm; edited 5 times in total
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smiltina
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PostPosted: Wed Apr 06, 2005 4:23 pm Post subject: Reply with quote
I guess the homeowner will have to pay the monthly escrow account (taxes insurance etc) or will Picreality pay it? These are commonly included in monthly mortgage payment in the USA.
V/R,
Smiltina
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jhutch
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PostPosted: Fri Apr 08, 2005 3:18 pm Post subject: Principal Payoff only... Reply with quote
Sorry...as I said it was very late.. I agree, I shouldn't have sent anything...
Last edited by jhutch on Fri Apr 08, 2005 11:22 pm; edited 1 time in total
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smiltina
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PostPosted: Fri Apr 08, 2005 4:02 pm Post subject: Re: Principal Payoff only... Reply with quote
jhutch wrote:
And they will also come and mow your lawn... why would PIPS pay your taxes? Your 2% account should do that for you, perhaps!... sorry...it's late and I couldn't help myself... jhutch
Jhutch,
My question may have seemed simple to you but I was just trying to understand how it work. How do you go about spilt up your monthly mortgage payment up if your taxes and insurance is already included in your payment?
If you didn't know the answer or felt irritated about the question then you shouldn?t responded to it. I always thought you didn't answer a question by asking another question.
V/R,
SmilTina
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jhutch
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PostPosted: Fri Apr 08, 2005 11:37 pm Post subject: escrowed accounts Reply with quote
Hi Smiltina..
You are correct...I don't know the answer... an attempt at humor, I suppose should be left to comedians... I apologize for the late show antics!
If it were our account, I would assume we would have to go to the mortgage company and ask how to deal with it, make the necessary arrangements, perhaps discountinue the escrowed service, and take the responsibility on ourselves...
As far as I know, PIPS Reality is paying off your mortgage only. We tend to see the other amounts such as insurance and taxes as part of our mortgage payment and it is really only a service the bank or mortgage company is providing...
It's morning now and I hope this helps... BTW, I do not represent PIPS Reality, their positions, and am not the authority on their program... just my hunch from our involvement and research.... FYI: there is contact information on the PIPS Realty site : www.picrealty.com
John
PS ....we received an email from PIPS Realty last night (April 8th) requesting some documents for identification and proof of ownership...a good sign that the process is moving forward... original application was March 23rd ...jh
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smiltina
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PostPosted: Sat Apr 09, 2005 7:48 am Post subject: Reply with quote
Thanks you John for the additional info. I will contact Picreality later.
LOL,
Chris
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airlac
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PostPosted: Tue Apr 12, 2005 9:00 am Post subject: Mechanics of the PIPS Realty Reply with quote
Hi, fellow PIPSters!
I visited the website of PIPS Realty. However, no detailed mechanics on how the PIPS Realty works is discussed on the website. Does anyone knows how it really works?
Can it be used to purchase a new real estate property? or the property should be on mortgage already and you have to pay your loan thru PIPS Realty? If I am from the Philippines, how is payment being made - thru wire transfer?
Thanks for your replies.
Mabuhay,
AIRLAC
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GMan
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PostPosted: Wed Apr 13, 2005 8:42 am Post subject: Reply with quote
What are the risks in this program.
Many of the people that I help have asked what happens if there is a major market crash that effects the 2% program and PIPS investments. Does PIPS Realty assume the responsibility of the note until it is paid or are there conditions spelled out somewhere that the mortgage program returns responsibility back to the member to pay the mortgage payments?
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jhutch
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PostPosted: Thu Apr 14, 2005 1:06 pm Post subject: Re: Mechanics of the PIPS Realty Reply with quote
airlac wrote:
Hi, fellow PIPSters!
I visited the website of PIPS Realty. However, no detailed mechanics on how the PIPS Realty works is discussed on the website. Does anyone knows how it really works?
Can it be used to purchase a new real estate property? or the property should be on mortgage already and you have to pay your loan thru PIPS Realty? If I am from the Philippines, how is payment being made - thru wire transfer?
Thanks for your replies.
Mabuhay,
AIRLAC
April 14, 2005: for AIRLAC and other interested folks!
PIPS Realty UPDATE
www.PicRealty.com
Case Study: Actual Time-line
for John and Connie's Place
We returned from the Hawaii Convention all psyched to give the "No More Mortgage" Plan a whirl!....
1. March 23: We registered online at www.PicRealty.com
2. April 5: We needed to resend info and re-enter some info on the site due to early changes made on the forms [to pdf files] and on the updating of the website....
3. April 10: We recieved an email requesting proof of ID and residence... and immediately faxed them to support.
4. April 14: The status of our 'Documentation" was marked complete on the website backoffice...YEAH!
5. Waiting for the next step or or approval to pay our 10% 'admin fee".... more to come!!
Some program details....
Never Pay Your Mortgage Again!!
read more at www.picrealty.com
and the beginning of this thread.... jhutch
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newlife
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PostPosted: Thu Apr 14, 2005 2:09 pm Post subject: picrealty Reply with quote
Hi jhutch,
Thanks for the info-sharing regarding picrealty.
And please bear with my ignorance...i registered in the picrealty already but when i tried to type-in the property details, it cannot accommodate all data in the box provided for. all information about the property are trunkated and therefore, renders the property details incomplete.
Your advice/help on this matter will be greatly aprpeciated.
newlife
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