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I just received a call from a representative from Absolute REO Solutions. There is a $295 fee associated with their 'service'. Does anyone know if this is legit or if it's a scam? I'd hate to throw away nearly 300 bucks.

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So true Maqda....I've been performing BPO's for over 8 yrs and NEVER paid a dime. I get paid for my hard work. If any of you are considering BPO's.....be prepared to work extremely hard.

Some companies want a full blown appraisal for $45-$50. I have managed to increase my drive by fee to $80, however, I've worked for it. Believe me!!!!

Thinking of going to Appraisal classes instead LOL

If you're looking for a good Asset Management Company that actually does give Listings, send me an email and I will help you out with a good one. As long as you aren't in my territory, I don't mind.  www.judynolin@gmail.com

I signed up and paid my money to this "entity" in October 2009.  I complained on one of these forums in early 2010 along with a request for a refund.  I was then contacted by Sal who sang the same song and dance about this and that.  This was approximately April of 2010.  On May 25, 2010 I was given the "token" bpo for a property conveniently located 25 miles away.  I proceed accordingly with due diligence to complete same.  I checked the records and no default, short sale or foreclosure info available.  Not that unusual I have to admit.  I go and get the photos.  Here's the thing, I never completed the bpo.  It sits in my dashboard, untouched and unnoticed, as I type this.  Never heard a word from anyone about it being incomplete or late or anything.  I guess this confirms that the bpo's are in fact bogus.  No one is looking for this particular bpo.  Needless to say, I didn't get the $50 pay and I don't argue that I should, I didn't' perform my end of the deal.   I've tracked this property for well over 6 months and nothing is happening on it, not even listed, no transfer of title, nothing.  I call this fraud, simply fraud.  I chalk it up to the cost of doing business and learning a lesson once and for all.  I would ask for my money back but I'm sure Sal's legal dept will argue that I was given the the work order and therefore they held up their end of the bargain.  There are plenty of legitimate companies out there looking for hard working people that don't ask for money up front.  If anyone is contemplating doing business with this company, like it has been said before, run away as fast as you can.  If you have a desire to throw money away, at least throw it to a local charity for people in need instead of these snakes in the grass preying on good people for their hard earned money, god knows they don't work hard, it's obvious they don't' work at all.  Defending this company on these discussion boards for well over a year now, is not a job,  it's called fraud, simply.
 
Ask anyway for your refund and see what happens.

Just an update to Sal @ ABS:

 

I signed up and paid over a year ago.  Never received anything from ABS (not even a BPO).  I requested the promised refund at the end of the 1-year term and have not received anything.

 

OK Sal, here's a chance to make good on the guarantee.  Send me my refund!!!

 

Remember Sal,  you wrote "We do not know of a single agent that has requested a refund that did not receive one"

 

Now you know one, unless by "single agent" you were referring to marital status, since I am married 30 years.

Hi Bob, I suggest that you read all the posts on here and decide for yourself. Good Luck!

To all the folks who continue to post on this and the other 15 ABREO forums.  THIS COMPANY IS NOT IN THE BUSINESS OF PROVIDING LISTINGS!  They are in the business of getting $295 from agents, investing those dollars and paying the $295 back from new agents who sign up.  This is a Ponzi scheme pure and simple.  In addition to the dozens of agents on REOPRO who have NEVER received a listing, there are hundreds of others on activerain etc.  Who also HAVE NEVER RECEIVED A LISTING!  I have at least 15 people in my office alone who were duped the same way.  Save your money folks, peddle your wares elsewhere Sal.

Hi, I thought I would share an email my broker just received.  I have been signed up with ABS REO for over a year and received one BPO after I complained about receiving nothing.

 

This morning my managing broker received an email from them stating they had a client in my state with assets but they had no available agents to cover the assignment.  Funny how they sent this email to him and didn't mention anything to me when I have been in their system for over a year.  I think this confirms it is acam.   

I can't believe they are still doing this.  Stay away!!!!  I know if several people who sent them their fee and yes, the first BPO was done and paid for but never heard from them again.  When you try to get your money back, which they promise to do, you have to wait until the year is up. What a scam.  I don't know yet if they will return the money after the year, it is up in April but we will see. Several people have reported them to their local DA's office as a scam but I haven't heard of anything being done.  They sure talk a good game.
read so many comments on this company, beside BBB rating is B for this company, think about contact information for your reo references they got from your application.  they are for surely a SCAM !!

I just sent an e-mail to get a refund. My year was up this February. I have not received any response regarding my request so I guess I may need to take the next legal step to get my refund. I have sent 2 e-mails with no response!

 

Hi Gang,

 

Well believe it or not, I did receive a full refund ($295.00) from Absolute REO, thanks to Sal.  He was good for his word.

 

While I would certainly rather of had an assignment or two instead of the refund, the refund was refreshing in a sea of "fee sharks" promissing results and delivering nothing except a renewal invoice.

 

There are some very big-name registries and networks out there with whom I have spent thousands in fees - with no results and no appologies, just a big corporate attitude.  I'm sure you all know what and who I mean.

 

So, Thanks Sal!  I wish the other firms would likewise refund for non-performance when they can't produce assignments in one's area.  I could take a nice vacation, maybe even buy a boat.

 

Best of good fortune to all!

 

Clay

I have requested a refund 3 times and still don't have it. My year was up in February. My attempts to get reimbursed have been ignored. Maybe I need to send the notice 10 times a day!

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