Phil Hallman replied to Vicky Chrisner's discussion AHMSI - Not selling their REOs?
"Wilbur Ross & Co. are the new private equity owners of AHMSI and have been active in buying and selling various mostly sub-prime and alt-A mortgage portfolios. I recently had a buyer wait about 4 months after the original COE date before an AM final…"
Jun 4, 2009
Phil Hallman commented on Jesus (Jesse) Gonzalez's blog post The Ethical Dilemma with Short Sale Option Contracts.
"Jesse,
I only use options in very few short sale situations, my structure of choice in a short sale is a beneficiary directed trust. Using options it is difficult to sell to FHA buyers because of the 90 day rule, I know there are many people who…"
May 23, 2009
Phil Hallman commented on Jesus (Jesse) Gonzalez's blog post The Ethical Dilemma with Short Sale Option Contracts.
"OOPS. hit the comment button. I was saying ... to sell the same piece of property will be subject to fine in AZ and can have their licenses revoked.
Any way just read some cases on contract law and you will see that the courts will frown on the…"
May 18, 2009
Phil Hallman commented on Jesus (Jesse) Gonzalez's blog post The Ethical Dilemma with Short Sale Option Contracts.
"Jesse:
If a seller has executed a contract, all new offers are SUBJECT TO the executed contract, Since at the moment of acceptance buyer now has an equitable interest in the property, the buyer is the only party that can now accept or reject any new…"
May 18, 2009
Phil Hallman commented on Jesus (Jesse) Gonzalez's blog post The Ethical Dilemma with Short Sale Option Contracts.
"Jesse, are you really equating investors to bank robbers? In your words, "The investor stole money directly from the bank..." and "...I see this [investor flip] equivalent to a bank heist" You call it an ethical dilemma to which no, "...educated…"
May 18, 2009