about 2 months ago - No comments
The other day 60 Minutes ran another report on “Strategic Defaults” as they are called – home owners who are underwater in their mortgage and walk away from their home (causing a foreclosure) even though they have the ability to continue with mortgage payments.
The most interesting thing about the story was a University of Arizona [...]
about 3 months ago - No comments
According to the “Distressed Sales Activity” report from First American CoreLogic, distressed home sales are on the rise again, accounting for an amazing 29% of all home sales in the month of January.
Nearly 1 Million distressed sales occurred last year, which includes short sales and real estate owned (REO) property.
Distressed property sales are at their [...]
about 6 months ago - 126 comments
The Short Sales and Bank Fraud story continues to gain traction. After CNBC aired the story we brought them, dozens of other media outlets, bloggers and authorities have contacted me to discuss this topic.
Here is the story of how this fraud initially came to our attention, along with the evidence to back it up.
Last [...]
about 6 months ago - 2 comments
The response to the story we brought CNBC on fraud in short sales has been amazing!
The whole goal of getting this story out there was to change the practice and prevent it from happening in the future. It’s obvious from the response that this is a major issue, hopefully the authorities will take notice and [...]
about 6 months ago - 1 comment
A short sale is the sale of real estate in which the sale proceeds fall short of the balance owed on the property.
It generally occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a loss is better than foreclosure.
Both parties must consent to [...]
about 11 months ago - No comments
Over the past few months we’ve been re-launching our Motivated Home Seller brand for real estate agents – HomeFlux.com.
It has been exciting to see how agents are rapidly growing their business through focusing on motivated home sellers – a segment of sellers that is rapidly growing, and is incredibly under-served by most real estate professionals.
With [...]
about 4 years ago - No comments
Foreclosure – A procedure by which the holder of a mortgage—an interest in land providing security for the performance of a duty or the payment of a debt—sells the property upon the failure of the debtor to pay the mortgage debt and, thereby, terminates his or her rights in the property.
In the United States, there [...]
about 4 years ago - No comments
Do you have a system?
I met with a large investor the other day and he (like me) is very systems oriented. What I mean by this is that if you are running a business (i.e. real estate investing) you MUST come up with a documented, reproducible system for everything you do.
So many small business owners [...]
about 4 years ago - No comments
Beware of how you present offers to home owners. This situation is obviously fraudulent, but there are many persons who do offer foreclosure assistance that are legitimate.
From INMAN NEWS:
Texas Attorney General Greg Abbott has won a temporary restraining order and asset freeze to stop a Houston woman from unlawfully exploiting distressed homeowners, some of them [...]
about 4 years ago - No comments
You’ve done your marketing, you are getting calls, but somehow you are having a hard time closing the deal and buying a property. What’s the problem?
Many investors struggle with how to present offers to home owners, while it seems to come naturally to others. This entire process essentially boils down to selling. You are selling [...]
