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I just got a sales call from United Default Management.
They want $549 for 3 counties. Their business plan is to send me to do BPOs on homes that have NOT been foreclosed, but instead are in PRE-FORECLOSURE (which is every home with a mortgage, in my opinion, PRE simply meaning BEFORE, haha).
I have heard this song before. And have even paid for a few (insert embarrassed face emoji here).
Before I say anything negative about a company I don't know much about, has anyone heard anything, had any dealings?
On the sales call there was a screener, then an "asset manager." He didn't know the difference between pre-foreclosure and foreclosed. I asked if these were directed short sales and he didn't even understand what I meant. Their website is copyright 2017. New. And they are in Chicago, which is where a number of these scam companies are located.
I look forward to any info anyone has.
See my replies to the post Libby Management. It's really Livi Management. Reincarnation of Fleetwood, Team Lear, and United Default Management run by Larry Pool. I have never heard of anyone benefiting from any of these organizations. UDM "assigned" me 3 properties that they had no authority to assign.
Sounds like they wasted my time today. I normally check here before going any further with REO companies to try and get feedback. Glad I did. I feel compelled to share my experience. When they call, it sounds pretty good. Wish they were legit. If someone has additional real experience with this company, tell us. Call me very skeptical from what happened today and the posts on here. The call came in from Bensenville, IL. The asset manager was a Marty Jacobson with United Default Management and he was also with Livi Management, Inc. Hmmm, how does that work? Anyways, they wanted to assign a listing. The spiel he gave sounds some what like the others mentioned. After checking with a local title company, I learned the property was purchased in 2016 and no records of it having been foreclosed or in foreclosure. I always ask for an email follow up when talking with an REO company. He sent three. One was titled Document Request asking for W-9, insurance, license, etc. The second is Sample BPO, Requirements and Tips and a third was titled Initial Assignment and Site Tour. That email received is below and appears basically the same as the one posted above:
Thank you for taking the time to read this email today. We are currently looking to partner with an experienced REO agent to market some of the portfolios that our servicer have handed down to us. In a well monitored but, ever changing industry we set our selves aside from other asset managing companies by simply looking at the task at hand and taking the most direct and effective actions to achieve our goals. We just so happen to have the same goal; earning commissions with hard work integrity and planned courses of action. Our servicers are currently offering 6.8% commissions of which our firm retains the .8%, the other 6% is to be listed in escrow to split between listing agent and the buyers agent. We will have national field services will be contracted to preform all of the physical work on the asset, such as; trash outs, maintenance, repairs, re-keying, weatherization, mold removal, code enforcement, and closing costs. Our Legal team will handle all assets where occupants need to be vacated either by cash for keys, relocation services or evictions. We finance everything directly and will invoice our servicers so that the financial burden does fall on our agents or brokers shoulders. Aggressive marketing is the name of the game in a competitive market and that's what we are looking for from you!
Please visit www.uniteddefaultmanagement.com to view you assignment when your account is activated.
The property available for assignment is:
Please see the site tour attachment at the bottom of this email to acclimate yourself with our system. Follow the directions and you will navigate through the system with ease. Thank you again for speaking with us today and we look forward to a long and prosperous business relationship with you and your firm!
Products And Services
Gold Executive- Includes a one year subscription with three counties and twenty five zip codes of automated generated assignment notifications of new assignments and tasks, easy-fill BPO format, occupancy check report templates, and your own personal profile allowing us to market you to servicers, financial institutions and vendors. $519.00
Silver Executive-Includes one year subscription with twenty five zip codes and two county automated generated notifications of new assignments and tasks, easyfill BPO format, Occupancy check report templates, and your own personal profile allowing us to market and connect you to servicers, financial institutions and vendors. $439.00
Bronze Executive- Includes one year subscription with twenty five zip codes or one county automated generated notifications of new assignments and tasks, easyfill BPO format, Occupancy check report templates, and your own personal profile allowing us to market and connect you to servicers, financial institutions and vendors. $349.00
630-509-4171 Ext 302
Why would you pay some company to get BPO's when there are plenty of BPO mills that you can go sign up with to get BPO's?
Keep your money in your pocket and run as fast as you can the other way.
They're not bpo's They "say" they are asset listings
This company just called me today and sent me the following email to "Sign up and pay" to use their site - The email they sent seems very professional BUT my antenna when up when the gal said I had to pay to use their unknown-to-me site "United" They are getting very slick. I looked in our county records as I was speaking to their sales person and the property they were gong to 'assign' me has not even been foreclosed on. This is the simplest thing you can do when you get these calls....look up the property on your county recorder's website to see if they have been foreclosed on or not.
The person I spoke with started to get really nervous when I said I needed to check their company out because there are a lot of scams posing as asset servicers. She really did not like that and kept insisting I did not need to look into them and that unless I sign up to accept the property right now, she would have to give it to another broker - so I told her to go ahead and give it to someone else! FAKE - FAKE - FAKE. No real asset management company would do that.
Below is a copy of their email which even includes a link to the BBB!! Ha, Ha. Plus logos of all the servicers and banks "they work with."
Over 6,000 BPOs for almost every company and Ive never run into anyone who made book off sites they had to pay for. Same for listing sites.
I got scammed by Livi last month. I have not been feeling well and fell for it. I actually turned them down when they were Team Lear. I filed a complaint with BBB, called my credit card company and even filed a complaint with attorney general. Livi has all these systems down. They apparently have a ton of pull at their local BBB, because they closed the case today as "answered". I'm pissed! They offer listings, but their BBB answer states I purchased software and needed to return it unused to get a refund. Are you kidding me? Software?! These guys are major scam artists. I assume they will win with the credit card company too. Maybe even the attorney general too?
I need recommendations on how to stop these guys. I will not stop till they are shut down for good. They are messing with the wrong guy. Who do I call that has the authority to shut these guys down and put them behind bars?
Thanks in advance.
BBBs are useless. You have to keep filing and filing to make them understand scam artists. State attorneys general are generally the only place for complaints like this. One of the BPO companies that people on here complained about had a minor success with a lawsuit about lack of payment. I forget which company. Maybe Broker Price Opinion dot com. The payments are being stretched out so far, agents will probably never notice them.
Sorry you've had this experience. Getting your credit card company involved as early as possible is the way to get money back.
This company just keeps reinventing themselves. You have to get to the owner or principal.
I'm not proud to say I fell for this. I got the same call a few months back and was told someone "referred" me to this company, but they could never tell me who it was. It didn't surprise me to hear I had to pay upfront since Im on Res.net and Equator. But as I was talking to the "asset manager" yesterday, I kept getting this feedback on the phone, as if this guy was calling from a call center. I went by the supposed house today and its obvious someone bought it and has been rehabbing it. Ugh. I should have checked here first. One expensive life lesson....