America Buys Foreclosures

Many of you have seen several of my blogs regarding America Buys Foreclosures; initially supporting this company followed by a seemingly mutual agreement by agents nationwide of disappointment.I was asked to remove my blogs (threatened with legal action by Megan Combs is more like it) and I did. I just don't like DRAMA and can't make time for it.But then a good friend (a truly good friend) sent me this message:The darkest places in hell are reserved for those who maintain their neutrality in times of moral crisis (by Dante Alighiere, Epic Poet)Now anyone that knows me... certainly knows I am not the morality police but I was raised with a good sense of right and wrong. I was also raised to be truthful, hardworking and honest. Always to give back more than you are given (my biggest fault is having no tolerance for less than this)Today, I was merely reminded that the ones with the money, make the rules. If you question or complain; more likely than not your account will be canceled and no refunds will be made (period).So suck it up.I don't like the rules of which this company plays:This company has taken money from agents on a National scale as early as Dec. 2008, promised a product month after month and almost a year later has yet to deliver. And in addition, this company requires agents to pay for training, pay monthly and remain in good standing with Settleware, e-signing, in which they are paid a referral fee (regardless of whether or not listings are sent)I don't condone these business practices nor how they treat the agents that have generously paid for services not rendered (*especially* knowing every penny is generated by working even longer hours than usual and marketing dollars don't go very far).It's a shame this company took the stance they chose with me as they did today.I lost...what... a little hope for a good opportunity? Big Deal.What they lost... was one of the best agents they will ever have worked with... and a needed ally/supporter.I think my long hours, energy, loyalty and dedication to my field of expertise... is better spent elsewhere.Should you have similar concerns... send an email to the Better Business Bureau, be done with it and move on.Best Wishes,LaDawn Menkemeller

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  • I have e mailed them and below is the answer"

    Thank you for the email. We are well aware that agents are anxious, and myself being a Realtor signed up with ABF, I can completely relate. You will be notified once assignments have begun.

    ABF's business model is for years to come, not just an overnight company. We are in this for long term and do not see foreclosures coming to an end anytime soon. There is an article from WS Journal ..."Nearly Half of Mortgages Will Be Under Water by 2011..." Another quote from an article in the WS Journal, ..."8.1 million foreclosures expected by Credit Suisse to go into foreclosure over the next four years." For REO agents, this is encouraging news.

    Your contract with Settleware is totally separate from your contract with ABF. Please read your Settleware contract for terms and conditions as well as cancellation instructions, or you may contact to answer any questions you may have about Settleware. Cancellation will not affect your status with ABF.

    Best Regards,
    Support Team
    • This is an old subject for most of us here (as you can probably tell!!)

      The contrace with ABF clearly states that the agent must be in good standing with Settleware (paying for their training + monthly fees).... so yeah... it's separate but required.

      Anyhow... they've made those same statements 2 years ago... and to my understanding still have not given out any foreclosure listings.

      Best wishes!
      • Hi LaDawn,
        Long time no chat with! OMG this is still going on????? Hilarious and shocking all at the same time. Hope all is well with you!
        Best Regards,
        • Hey there Vicki -- didn't know ya sent me this -- sorry I missed it!


          Curious if the scam continues.... what's the latest...anyone??

  • Aptly spoken LaDawn.

    Michael Gleason
  • I really need to start saving a list of all the companies out there that will put me on a list, ( I'm always on somebodies list - for free) infer they will get you listings and/or offer the newest certifcation. All you have to do is send a few hunderd upto a few thousand. The saddest part some of them may be legit, but thanks to the bad ones we all lose. It would be nice to know, if there are any, which ones and thier success rate.
    Hope your day is a great one!
  • Wells did charge $399...
    • No kidding??? >>OUCH<<

      And nothings come from this?? Ahhh I am sooo sorry!!
  • Has anyone heard anything from ABF? I sent a Holiday greeting to them and never heard a word...
    • Richard, Richard, Richard...are you kidding me??

      Next time ya have an extra couple hundred to burn or a card to send out... just send it my way!!!

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