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Cindy Billman, CDPE, SFR, HAFA's Blog (12)

Real Estate Conferences

Over the years I have attended several and have been mostly satisfied until lately.  I do not understand why they are paying political figures to be guest speakers. I do not attend these conferences to hear a politician. If I wanted to hear a politician then I would attend a political rally.  I attend because I want to hear from someone who is in the real estate field, such as field asset companies, mortgage banks, real estate attorneys, etc.  So, until conferences get back to real estate I…


Added by Cindy Billman, CDPE, SFR, HAFA on July 31, 2012 at 11:49am — 1 Comment

Bankers REO

Has anyone heard of this company? They have called me twice - they have a yearly fee of $349 and guarantee you listings, money back if you do not get. They say there is no referral fee!!

Added by Cindy Billman, CDPE, SFR, HAFA on August 25, 2011 at 12:30pm — 22 Comments


I was shocked, stunned and thrilled when I received a check in the mail for every BPO that I have done for BPO Valuation - BPOonline.  Plus a letter of apology along with information that they are on a new system that will pay agents within 30 to 45 days.


Even though it has been almost a year since these BPOs were done and after I finally had given up on ever getting paid even though I contacted them several times, it was nice to see this company step up to the plate and make…


Added by Cindy Billman, CDPE, SFR, HAFA on June 25, 2011 at 9:53pm — 1 Comment

Texas AG Stops Foreclosures and Evictions

The Texas Attorney General's office has halted all foreclosures, all sales of properties previously foreclosed upon, and all evictions of persons residing in previously foreclosed upon properties, until mortgage companies have completed a review of their processes, including whether employees or agents "robosigned” affidavits and other documents recorded in Texas.

The AG suspension notices were sent to 30 mortgage-loan servicers doing business in…


Added by Cindy Billman, CDPE, SFR, HAFA on October 6, 2010 at 9:32am — No Comments


First, everyone needs to take a deep breath and quit slamming the banks. Here is the short sale process. The short sale package once received by fax or email is given to a Set Up person, this person then reviews to make sure all documents required are there, this can take 2 to 7 days (depending on the volume), if they have to obtain missing data, this delays the S/Sale getting to the hands of the negotiator. If the property has a scheduled foreclosure sale date within 30 days, it is normally… Continue

Added by Cindy Billman, CDPE, SFR, HAFA on July 18, 2010 at 4:04pm — 5 Comments


OK - my patience has worn thin - I am now going to fight back - I am compiling a list of all companies that I have paid money to join in order to hopefully get business. I am tired of the scams. I will be filing a complaint with these companies through the Better Business Bureau and my state's and their state's Attorney General's Offices. Then I am going to take it to the media. It is time that these scams stop and it is time that WE, as Realtors, stop paying their ridiculous fees. I am not… Continue

Added by Cindy Billman, CDPE, SFR, HAFA on June 26, 2010 at 8:20am — 9 Comments

Another Incomplete Inspection

Well, here we go again! I just had an inspection on an REO property - I verified with the listing agent that all utilities were on - the inspection was scheduled and even the inspector called the listing company and was told that all utilities were on. My buyer, inspector & I arrived as scheduled and the gas was not on! Now my buyer will have to pay an additional $100 for a trip fee since the inspector was not able to complete the inspection. This happens so often and is so unnecessary. So… Continue

Added by Cindy Billman, CDPE, SFR, HAFA on December 14, 2009 at 11:29am — 7 Comments


I would like to share this with everyone as I have changed my attitude towards most investors. I have been blessed and I mean that sincerely, by having this one investor that buys some of the crappiest properties that have been on the market forever because it needs a roof, foundation work, mold, etc. My investor will buy this property and turn this piece of crap into a beautiful work of art! I have sold 5 of his properties this year and they all went under contract within the first 30 days! I… Continue

Added by Cindy Billman, CDPE, SFR, HAFA on December 11, 2009 at 9:38pm — 8 Comments


I decided to pull some statistics out of curiosity. NRBA is probably one of the most prestigious and most recognized of all realtor organizations and they have a designation called CREO (Certified REO) that, I believe, cost members about $300 to take the course and get their CREO designation. Currently, NRBA has 1,039 agents throughout the country and guess what? Out of 1,039 agents only 63 have their CREO designation! Wow, by my calculations that is about 6% of their members! I do not mean to… Continue

Added by Cindy Billman, CDPE, SFR, HAFA on July 9, 2009 at 12:13pm — 14 Comments


OK - another pet peeve I have to air! I just completed 2 BPO's, the first one was listed and in the MLS but there were NO, ZERO, ZILCH photos for this property in the MLS system, nor were there room sizes or any additional info. This REO has been on the market since 11/16/08 and has gone from $129,900 to $115,900, what a disservice to this bank! Stats confirm that 65% of buyers find their homes on the internet with the majority on Our MLS automatically inputs listings on… Continue

Added by Cindy Billman, CDPE, SFR, HAFA on July 2, 2009 at 9:20am — 5 Comments


First, let me say that I love this website and it has been a great place to share information with other realtors around the country.

Second, I know most of you are probably sick and tired of the greed that has been running rampant for several years in this industry. I believe in everyone making as much money as possible but I draw the line when the information is being sold that can be obtained for free. So here is my advise and warning.

DO NOT PAY for a list of REO companies,… Continue

Added by Cindy Billman, CDPE, SFR, HAFA on June 26, 2009 at 9:54am — 9 Comments


John Occhi did a fabulous job of describing how to do BPO's (John, did I train you?) I want to elaborate on the Driveby BPO. The Driveby BPO is the MOST critical BPO you will ever do. Most drivebys are pre-foreclosure values. This means the banks need to determine the FMV (Fair Market Value) in order to determine how much to bid for the property at the foreclosure sale. I.E., the bank has a property in default with a principal balance of $180,000 (at one time banks would bid as high as the PB… Continue

Added by Cindy Billman, CDPE, SFR, HAFA on June 19, 2009 at 5:23pm — 16 Comments

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