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November 2008 Blog Posts (15)

REO Closings. The Best Price on title Insurance

I have noticed that most REO/Bank closings for Floridaare using title companies in South Florida and charge double or triple the customary charges.

I am looking for a list of REO closing departments that we can contact to infrom them of our prices and services.

Any advice or direction would be appreciated

Barry Miller
The Closing Agent, Inc.
Barry@theclosingagent.com

Added by Barry L. Miller on November 24, 2008 at 5:01pm — 1 Comment

Fannie, Freddie Suspend Foreclosures

Thought I would share this info: Fannie Mae and Freddie Mac announced yesterday that they are suspending all foreclosures on mortgages that the two companies own.Both companies have ordered their national networks of mortgage servicers and foreclosure attorneys to halt all foreclosure sales and evictions involving occupied single-family properties. Freddie Mac is also including 2-4 unit occupancies as part of the suspension. The foreclosure moratoriums will take effect November 26 and go… Continue

Added by Dunia Partow on November 21, 2008 at 5:18pm — 3 Comments

Creative Evictions And The Wonders Of Tossing Tweakers!

Well now, isn't that an attention-grabbing headline!

I've been doing this for just under two years and woo-hoo, it is definitely the most interesting and financially rewarding experience I have ever had.

I say financially rewarding from the context of commission volume, not hours vs dollars.

If I used the hourly model, I think I could do better handing shopping carts to people at WalMart or punching buttons on a cash register with pictures of fast food on it...

As the… Continue

Added by Rick Fine on November 17, 2008 at 11:37pm — 2 Comments

Tips for hiring a bookkeeper to get your expenses back

Being an REO agent you learn that there are a lot of out of pocket expenses that you must front for the bank- utilities, repairs, inspections, cfk, HOAs and even some liens. At any given time you could be out of pocket thousands of dollars. If you are a high volume REO agent, it is best to hire someone to focus on organizing the bills, inputting them correctly into each companies system and getting the reimbursements back from the bank. This could save you thousands of dollars and time that you… Continue

Added by Tammy Yau & Steven Wang on November 13, 2008 at 3:25am — 1 Comment

IAS & Other Expecting Increasing Inventory

BPO Training.docThought the group might find this helpful. Attached is a message I recieved from IAS. The same has been said from a few different suppliers that I'm currently working with. Anyway, more importantly for those doing BPO's you might find the attachment training doc helpful. With that being said I plan on being busy for the rest of this month so you may not hear from me for a while but… Continue

Added by Jonathan on November 10, 2008 at 12:09am — 2 Comments

How can I get connected to REO Asset Managers?

I am a full time real estate agent in Pittsburgh PA and work with several real estate investors, both in Pittsburgh and in from other areas. Pittsburgh is a great place to invest in real estate because you can get properties at .50 - .60 cents on the dollar. I want to find out where to start the process of tracking down dircet contact information for asset managers who need their properties off the books. Any help would be greatly appreciated.

Donna M. Pellegrino

Added by Donna M. Pellegrino on November 9, 2008 at 6:02pm — 1 Comment

ANSWER YOUR TELEPHONE!!

So you want to be an REO agent do you? Unless your just slammed with business and don't need or want anymore, why would you not answer your telephone. Two days ago I spoke with an AM that had 6 properties needing to be assigned all of which were outside of my coverage area exept for one. So being the sharing person that I am, I called & called & called. 3 listings went to my Southern CA friends/agents with Code 3. 1 to an Agent in Beverly Hills , 1 to myself and the Other to a MEGA REO… Continue

Added by Jonathan on November 7, 2008 at 2:28am — 10 Comments

Best way to do CFK

Working with over 20 properties a month, doing cash for keys is sometimes a challenge getting a hold of the occupant. We've found the following process has helped us in managing our CFK offers.

Upon getting a property, we first check MLS to see if there is an occupant's number is disclosed. We try calling the number on there immediately. If we reach a person, we give them our information and let them know there is a possibility for some help in moving costs. Usually they need to get… Continue

Added by Tammy Yau & Steven Wang on November 6, 2008 at 8:12pm — 3 Comments

AUCTIONEERS VS REO AGENTS..... They say they are the future of REO.... What say you?

My fellow agents, Time has come for us to recognize the battle that has been waged on us. Battle, we didn’t ask for, Battle, we did nothing to deserve, yet it is here and the battle we must fight not only for us and our future but also for our clients.

REOPROs that have been around for a while know what I speak of. A Few months ago, I started to see some articles from auctioneers in reo magazines (DSNEWS), active advertisements by more and more companies, blog posts, and active… Continue

Added by Ascharaj (Sunny) Singh on November 6, 2008 at 11:16am — 5 Comments

REO Listings

I have not blogged before and would like to start. I can't emphasize enough to treat your fellow colleagues with respect when it comes to informing them what is happening. I had a REO listing and received an offer. I immediately turned it in. I called the agent to inform him that I did submit it and was waiting for an answer. He appreciated that I took the time to let him know that I did submit it. There were a few glitches along the way, but I made sure I informed the agent every step of the… Continue

Added by Donna Lavin - CDPE, SFR on November 6, 2008 at 1:53am — 1 Comment

Importance of Blogging

Because so many people don’t blog, let me share reason with you as to why you should blog.

1. Exposure: Blogging gets you great exposure. In fact, a regular blog that provides great information will not only get you exposure but, sometimes it can get you notoriety. In other words, it allows readers to get a sense of who you are and how you work. Think of it as a one sided interview for your readers and therefore, use it to your advantage to toot your own horn and, show off your… Continue

Added by Jesus (Jesse) Gonzalez on November 5, 2008 at 9:59am — No Comments

What do you do after you get approved by an REO Comapny?

This is my first attemp at a blog so I hope this is usefull. I have been approved by a large Asset Management company and the same day my approval was emailed I received 2 BPO assignments. Lenders and Asset Management companies want and need Accuracy and Efficiency. When you receive a new Listing or BPO assignment they give you time lines to complete the work, but if you exceed the timelines you will be rewarded with more business. Remember that you are being graded by them on accuracy, also so… Continue

Added by Raul Novales on November 4, 2008 at 10:27pm — No Comments

REO Services

Danny Mahelka

Coldwell Banker

9000 Sunset Blvd., Suite 100

Los Angeles, CA. 90069

DIRECT: 310-887-0220

FAX: 310-887-0291

CELL: 213-359-4097

dmahelka@earthlink.net

www.homesbydanny.com

OBJECTIVE:

To swiftly and efficiently administer eviction / re-location services for occupants and reclamation processes to secure property on the banks behalf.

To aggressively and strategically market said property to ensure a… Continue

Added by Danny Mahelka on November 4, 2008 at 5:00pm — No Comments

Titanium Solutions.

Hi All,

I just signed up with Titanium Solutions and was wondering if any of you have had any experience with them. I'm an experienced REO agent in my area, however this company appears to be a loss mitigation company, I thank you in advance for your imput.

Added by Camila Rifai on November 4, 2008 at 4:35pm — 6 Comments

Attn: Asset Managers

If you are looking for qualified REO Agents you should search for REO Co-Listing agents they have the experience
A-Z and you don't have to worry about picking a newbie. Our team has been working as a co-listing agent for a year
we help newbie reo agents who were fortunate enough to get a oppurtunity to sale reo's but do not have a team or a
reo model/system we exchange our services to be a co-listing agent. www.ReoResourceTeam.com

Added by Pamala Spivey on November 4, 2008 at 11:46am — 1 Comment