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Category: Foreclosures
There is alot of talk about Kenny Rushing and His Bulk REO’s right now. Here’s the scoop, complete and utter disclosure, kinda like when you do a double closing, everyone knows whats going on. Kenny is a small mastermind group I am in. He was a master at quick flips in the Tampa market when [...]
Brent Merriel in Atlanta had a problem… he bought a boatload of properties that had gone underwater. So Stumpy had an idea….
Last week BusinessInsider let loose with some stats that kinda blow me away. You see like most people I was raised in a middle income home. I was taught to go get a job, work hard and you’ll be set. The Company or the Union will take care of you. Well, when NAFTA started sending [...]
, , Here is the unofficial Loss Mit training Video from BOA…. ( I’m Just sayin) Feel Free to leave your thoughts and comments below… , , Tony
An ongoing investigation by a House of Representatives committee revealed a VIP lending unit at Countrywide Financial Corp. targeted senior leadership at Fannie Mae. The House Committee on Oversight and Government Reform obtained new documents that show former Fannie CEO Jim Johnson and his successor Franklin Raines, former vice chairman Jamie Gorelick and former chief [...]
In Nevada, real estate agents are reporting that they are streamlining the short sale process by listing properties on MLS far below market price to elicit multiple offers. They believe that this streamlines the negotiation process with the bank or other lending entity because it gives them many different offers to work with and heightens [...]
Financial reform and consumer protections are the first things that spring to mind when most people think of the Dodd-Frank Wall Street Reform and Consumer Protections Act, but for lenders and other note-holders, start thinking about 90 days grace as well. The bill includes an extension of the Protecting Tenants at Foreclosure Act (PTFA) though [...]
On the heels of a 30% plunge in pending home sales in May — the first month that house hunters didn’thave the first-time homebuyer tax credit to entice them to sign contracts — analysts are anticipating a week of plummeting housing starts and existing home sales. In a note coming out Monday, Toronto-based macroeconomic research [...]
No Real Estate Recover yet folks – and I really don’t see it coming anytime soon. Inventories of bank-owned properties grew for the fifth month in a row, according to the latest statistics collected from loan servicers by Lender Processing Services. “Real estate owned,” or REO inventory — properties repossessed by lenders — stood at [...]
The regulator for Fannie Mae and Freddie Mac ordered the two government-sponsored mortgage purchasers to delist their shares from the New York Stock Exchange, in another blow to the one-time giants. Fannie and Freddie continue to struggle with billions of dollars in losses from tumbling housing prices as well as uncertainty about their future. The [...]
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