REOPro Default Professionals

America's Largest Social Network for Default Real Estate Professionals

http://reopro.ning.com/page/buyer-direct

July 2011 Blog Posts (32)

Fannie Mae sales downturn

I was reading the story today that Housingwire published Fannie Mae sees light at the end of housing tunnel and I was wondering if anyone was looking into the numbers with Fannie Mae and the timing of the topic of Fannie Mae pulling back on the assets going to outsource management companies they have been using.
 
I have…
Continue

Added by Brandon Jordan on July 31, 2011 at 10:00pm — No Comments

Banks are giving money for Short Sales

I just read an interesting article on DSNEWS, the article explains that major lenders are giving their borrowers insentives for short sales, and some are trying to streamline the process.

 

The article states that Wells Fargo has been giving relocation assistance up to $20,000 in Florida for if the borrower chooses to go do a short sale or deed in lieu. Chase is also offering up to $20,000 if the borrower doesn't qualify for a loan modification and up to $30,000 in CA. Citi has…

Continue

Added by Jose Rivas (DGRA) CDPE, SFR on July 30, 2011 at 1:12am — 2 Comments

Banks are giving money for Short Sales

I just read an interesting article on DSNEWS, the article explains that major lenders are giving their borrowers insentives for short sales, and some are trying to streamline the process.

 

The article states that Wells Fargo has been giving relocation assistance up to $20,000 in Florida for if the borrower chooses to go do a short sale or deed in lieu. Chase is also offering up to $20,000 if the borrower doesn't qualify for a loan modification and up to $30,000 in CA. Citi has…

Continue

Added by Jose Rivas (DGRA) CDPE, SFR on July 30, 2011 at 1:12am — No Comments

What can agents learn from the shifting real estate trends?

The J.D. Power and Associates 2011 Home  Buyer/Seller Study is off the press, and some interesting marketing statistics were revealed. In addition to studying consumer sentiment towards real estate brands, J.D. Power dug deeper into the inner workings of real estate, finding some big changes that have taken place over the course of a year.

Among their findings, the study revealed something that would come as no surprise to readers - REALTORS are hustling more than ever before. In…

Continue

Added by Jim Gaddis on July 29, 2011 at 10:26am — No Comments

Banks Day of Reckoning Cometh..for Fraud filled foreclosure, Robo-signers? (Video)

Banks Day of Reckoning Cometh..for Fraud filled foreclosure, Robo-signers? (Video)

Continue

Added by Robert Moreno on July 25, 2011 at 7:58pm — No Comments

BPO Automation Group Keeps Moving Forward After Company Changes

Hi everyone,

 

 This is Nicole Ocean of the BPO Automation Group. I, along with Tim Ventura started the BPO Automation Group in April of 2009. In case you aren't familiar with what we as a company do, let me mention quickly that we are the industry leaders in BPO automation software for BPO & REO professionals nationwide.

 

 After talking with Jesse Gonzalez, the founder of this wonderful forum a few weeks ago, he mentioned that it would be a good idea to…

Continue

Added by Nicole Ocean on July 25, 2011 at 11:30am — No Comments

Can A Bank Really Change The Locks On My Mountain View Home Listed At A Short Sale

Seems like a bizarre question doesn't it? Well guess what, it is not.  If you are selling your home as short sale the bank may have the right to send a property preservation company to the house and "secure it" if they feel the house is vacant and abandoned. But it is still my house, right?

Yes, it is still your house, even if you have stopped making payments, but here is the catch. Many loans contain clauses that say…

Continue

Added by Marcy Moyer on July 24, 2011 at 10:31pm — No Comments

Prospecting To Distressed Homeowners - What Works, What Doesn't Work?

The reality is, there is no magic pill when marketing your services to distressed homeowners. The biggest determinant of success, in my view, is repetition and the number of "touch points". Familiarity builds credibility, which in turn builds trust. Remember, all of the news media has told homeowners that if anyone contacts them with the offer to stave foreclosure, they are probably vultures looking to swoop down and profit from their misery. Repetitive marketing goes a long way to overcome…

Continue

Added by Jim Gaddis on July 24, 2011 at 4:00pm — No Comments

Yellow Letter Marketing

The yellow letter is a handwritten, usually brief message on old school yellow ruled paper. Yellow letters are a tried and true marketing vehicle to reach motivated home sellers. The magic of the yellow letter is in its personal touch, look and feel. 

 With today’s savvy…

Continue

Added by Jim Gaddis on July 22, 2011 at 12:43pm — No Comments

Short Sale Agents Now Exempt from MARS stipulations

In what’s good news to agents working with distressed property owners, the FTC issued a statement on Friday that it will no longer enforce most stipulations of the Mortgage Assistance Relief Services rule. This onerous rule required short sale agents to make a handful of disclosures when assisting distressed…

Continue

Added by Jim Gaddis on July 22, 2011 at 12:29pm — No Comments

Advent REO???? input please!

Hello,

 

Would like some help here....I received a call from Advent REO, saying they have possible listings in my area, however they want me to pay a $295 fee first to join and then get the listings... Have any of you worked with them before?? if so, what was your experience? Any input would be greatly appreciated

Added by Monica Guzman on July 20, 2011 at 2:57pm — 9 Comments

Tracking the failed banks list and how it can grow your REO business

I have not heard this topic brought up much when taking REO courses and online discussions on how to grow your businees. I have read talks of failed banks on post and names of banks along with a direct link to US Treasury in various places but not how it relates to growing your REO business. I have to think there are numerous ways to use this list to help to gain new listings after all these banks have assets they are holding and if the bank is closing this would most likely direct you to…

Continue

Added by Brandon Jordan on July 18, 2011 at 1:11pm — 2 Comments

Urgent Breaking News: California SB 458 Passed | Realtor Short Sale Designation

This is HUGE!

Effective, 15 July 2011!

Governor Jerry Brown signed into law SB 458 prohibiting banks, servicers and lenders from pursuing home…

Continue

Added by Robert Moreno on July 18, 2011 at 10:36am — No Comments

Great News For Silicon Valley Short Sale Sellers!

A few days ago short sale sellers in California got great news!  Governor Brown signed a bill which prohibits lenders and investors of junior loans to pursue a deficiency judgment on most approved short sales.  First lien holders are already prohibited from deficiency judgments, but second mortgages and HELOCS were not previously exempted. As of July 15th, they are included. So, if a bank approves your short sale, then they…

Continue

Added by Marcy Moyer on July 17, 2011 at 3:24pm — No Comments

SHORT SALE 2ND LEIN NO LONGER CAN SEEK DEFICIENCY JUDGEMENT FROM SELLERS IN CALIFORNIA

 

FROM THE DESK OF THE MORENOWORKGROUP:

A new law signed by Jerry Brown in California has now made it easier for Californians suffering from the Real Estate dip to short sell their homes. The new law prevents the second lein hold nor the investors behind them, including any insurer to seek any type of deficiency judgement against the seller once the deal is closed. 

 

HERE IS THE LAW FOR THOSE WHO CAN NOT SLEEP AT NIGHT (like me).

 …

Continue

Added by Robert Moreno on July 16, 2011 at 11:08am — 1 Comment

What's Wrong with This Picture

There is a vacant house in my neighborhood that is driving all the neighbors crazy, it has been vacant since October of last year, I am sure if it hasn't foreclose yet it is about to. grass is 5 feet tall, weeds are growing very tall, ivy wraps around the house. broken fence etc.

I was driving home last night and I saw a hand written sign on the front lawn, I stop to read it and was very surprised to read " Froclosure $55K Needs work and the phone number"

It makes me wonder if…

Continue

Added by Jose Rivas (DGRA) CDPE, SFR on July 15, 2011 at 10:11am — 9 Comments

Title Issues with REO and Short Sales

I don't know if it is my luck, but lately I have several settlement delayed due to title issues. I know with REO properties usually we have these delays, because the ratification of foreclosures and deed recordations. But lately I have found some crazy things.

I have two properties that have been under contract since April and May, both have title issues.

Property one is bank owned. It has been undercontract since April, they are waiting for previous foreclosure recordation,…

Continue

Added by Jose Rivas (DGRA) CDPE, SFR on July 14, 2011 at 12:27pm — 2 Comments

Break Free From Your Negative Programming



I am currently reading The Happiness Advantage: The Seven Principles of Positive Psychology That Fuel Success and Performance at Work by Shawn Achor. Which asks the questions: Are successful people more happy or are happy people more successful? I highly recommend the book.

Principle number 3 is the Tetris Effect. This occurs when people devote sufficient time and attention to an activity that it begins to overshadow their thoughts, mental images and…

Continue

Added by Nick Miller on July 13, 2011 at 9:03pm — 1 Comment

Buyers of Mountain View Ca Short Sales Should Not Buy Furniture From The Seller

When a buyer makes an offer on a Mountain View, or any Silicon Valley Short Sale they ocassionally want to purchase some of the furniture in the house.  Sometimes there is a couch that fits perfectly in the family room, or a dining room table that is too big for the seller's new house and they want to sell it. It's ok to do that, right?

NO NO NO NO NO!!!!!!!

Should I say it again?  Ok, NO DO NOT DO…

Continue

Added by Marcy Moyer on July 13, 2011 at 5:23pm — No Comments

My Son is on Cash Cab Wed July 13th at 6:30

Set your DVRs! My son Dan and 3 other members of his theatre company www.shelbycompany.org are going to be on Cash Cab NY.  It was filmed last fall but finally will air tomorrow.  This is a not to missed show. I promise you all a great time.

It comes on at 6:30 on the east coast. Direct TV will show it at 3:30 and 6:30 on the west coast.

 

It is on the Discovery Channel for those of you living under a rock and have never heard…

Continue

Added by Marcy Moyer on July 12, 2011 at 6:32pm — 2 Comments

Monthly Archives

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

1999

Send Invitations

Image and video hosting by TinyPic

© 2017   Created by Jesus (Jesse) Gonzalez.   Powered by

Badges  |  Report an Issue  |  Terms of Service