I just received a call from a representative from Absolute REO Solutions. There is a $295 fee associated with their 'service'. Does anyone know if this is legit or if it's a scam? I'd hate to throw away nearly 300 bucks.
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Tron Shephard > Garret SnyderMarch 25, 2010 at 12:22pm
I understand the principle of fraud. I also understand the Buyer's be aware principle. I have read the Master Servicing Agreement, which clearly states on page 1, NOW THEREFORE, in consideration of the mutual promises and convenants contained herein and other good and valuable consideration, ABSREO and Broker agree to and accept the following terms and conditions:
1. ASSIGNMENTS: Pursuant to the terms and conditions herein, ABSREO will periodically, at the sole discretion of ABSREO, assign to the broker certian real property to be listed for sale and to manage such property as set forth herein;
Before I signed up with ABSREO, my Broker and real estate attorney read this Master Servicing Agreement. We read it and I chosed to accept this agreement. If they had any doubt in the mind that this was FRAUD, they would've not allowed me to sign up with ABSREO.
I understand my fiduciary duties. I also understand the rules of life and choices. I'm not here to be someone crutch or blessing blocker. That's my personal decision. In a year we don't know what will happen, because tomorrow has so much trouble on its own. Who's knows? It's in God hands!
Remember, you reap what you sow. You never know who's viewing this thread looking for a few good agents. That's why you should always go to the source.
Does the contract state what happens when they change their name or when they go out of business? It is not fraud if you receive something from them in this case it is their promises and covenants per the written verbiage above. This investment is what is called a 'venture' solely a risk taking and subject to loss. God does not have control over your spending habits but is in absolute control of your spiritual development.....All without a contract and not close to recision all with reciprocity is Gods contracts. I am one of the bad guys as I didn't sign up with them. It was the fact of their location in Chicago that troubled me.......And the bad rap that city has been under recently that has clouded my senses. Keep us informed as to success with this company. Actually I should have looked and seen where you are from as you could be one of the lucky ones. Some of us are in states where BPO's are bountiful and REO's are rarely seen.
Tron Shephard > Donald C HascallMarch 25, 2010 at 1:20pm
If a company file bankruptcy the law protects them. You would have to speak with an attorney about the bankruptcy laws.
You are not a bad guy, because you didn't sign up for ABSREO. You made a decision. I will do my best to reply and update you. I am busy and working off of referrals. I'm in Sacramento, CA. I am blessed! I'm working hard and staying focused! The real estate industry will get better. It starts with you! We are the professionals, that every one is screaming for help from. During this tough economy times, the American way of life has been challenged. There are conversations between families that only real estate professions can answer. Let's be that real estate professional!
Tron,
You are right. We all have the choice to make decisions and to research the companies that we pay and sign up with. I signed up with ABSREO in October and did not check out anything about them as I should have done. If it turns out that they are a scam, than I have no one to blame but myself. Keep your positive attitude!
Tron, I am glad that you are totally satisfy with AREO Solutions I don't know why you are so sure that is a legitimate company you don't know if they will send more business your way, good for you if you are happy with that. I have not seen so many agents talk and be frustrated about any other Asset Manager but this one. I call AREO Solutions many times and I have not got any response. I want my money back and Stephen is not calling me back.
Tron Shephard > Leticia (Letty)March 25, 2010 at 11:29am
Leticia,
The reason why I satisfied, is because I understand investments. I understand there are good & bad investments. I chosed to invest $295 in ABSREO and I'm expecting a return on my investment. The real estate industry has changed and the foreclosure process has been extended due to Federal Regulations. I can speak for California, because I have seen short sales on the market for over a year without a NOD filed. I'm sure we have all seen short sales on the market for over a year or longer. The REO industry isn't like it used to be since the Federal Regulations.
I have notice the frustration, but that doesn't bother me. I made a decision because I believe in long term relationships. I'm also a leader and don't follow the crowd. Everyone will always have different experiences and results. Its not my job to bash anyone or any company. If I have a problem with anyone or company, I always go directly to the source. REOPRO is not the source! I would advise anyone to go directly to the source if they are not satisfied.
I am waiting patiently for a great return on my $295 investment. This investment will be a bonus to my real estate business. I still have to commit to myself, my family, my clients, and my real estate business.
I got the call and and email back in October and then paid the money. Haven't heard a word since they took the money! I wouldn't hold my hopes high for any sort of refund OR business. Chalk it up. It is buyer beware out there these days!
I received a call from them today, Said that they had a listing in my area and they would like to send it to me with in 72 Hours.
They then informed me regarding the $295 fee and the guarantee that I could cancel and my money would be refunded if I did not receive any listings. I went ahead and signed up , but if I do not receive the listing as promised in the next few days I intend to cancel the charges on my AX.
There is a lot of fraud in this business, but they did sound very convincing.
Replies
1. ASSIGNMENTS: Pursuant to the terms and conditions herein, ABSREO will periodically, at the sole discretion of ABSREO, assign to the broker certian real property to be listed for sale and to manage such property as set forth herein;
Before I signed up with ABSREO, my Broker and real estate attorney read this Master Servicing Agreement. We read it and I chosed to accept this agreement. If they had any doubt in the mind that this was FRAUD, they would've not allowed me to sign up with ABSREO.
I understand my fiduciary duties. I also understand the rules of life and choices. I'm not here to be someone crutch or blessing blocker. That's my personal decision. In a year we don't know what will happen, because tomorrow has so much trouble on its own. Who's knows? It's in God hands!
Remember, you reap what you sow. You never know who's viewing this thread looking for a few good agents. That's why you should always go to the source.
You are not a bad guy, because you didn't sign up for ABSREO. You made a decision. I will do my best to reply and update you. I am busy and working off of referrals. I'm in Sacramento, CA. I am blessed! I'm working hard and staying focused! The real estate industry will get better. It starts with you! We are the professionals, that every one is screaming for help from. During this tough economy times, the American way of life has been challenged. There are conversations between families that only real estate professions can answer. Let's be that real estate professional!
You are right. We all have the choice to make decisions and to research the companies that we pay and sign up with. I signed up with ABSREO in October and did not check out anything about them as I should have done. If it turns out that they are a scam, than I have no one to blame but myself. Keep your positive attitude!
The reason why I satisfied, is because I understand investments. I understand there are good & bad investments. I chosed to invest $295 in ABSREO and I'm expecting a return on my investment. The real estate industry has changed and the foreclosure process has been extended due to Federal Regulations. I can speak for California, because I have seen short sales on the market for over a year without a NOD filed. I'm sure we have all seen short sales on the market for over a year or longer. The REO industry isn't like it used to be since the Federal Regulations.
I have notice the frustration, but that doesn't bother me. I made a decision because I believe in long term relationships. I'm also a leader and don't follow the crowd. Everyone will always have different experiences and results. Its not my job to bash anyone or any company. If I have a problem with anyone or company, I always go directly to the source. REOPRO is not the source! I would advise anyone to go directly to the source if they are not satisfied.
I am waiting patiently for a great return on my $295 investment. This investment will be a bonus to my real estate business. I still have to commit to myself, my family, my clients, and my real estate business.
They then informed me regarding the $295 fee and the guarantee that I could cancel and my money would be refunded if I did not receive any listings. I went ahead and signed up , but if I do not receive the listing as promised in the next few days I intend to cancel the charges on my AX.
There is a lot of fraud in this business, but they did sound very convincing.
Richard
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