Posted by Dawn Lewis on September 19, 2009 at 6:39pm
REOMasters Making a Difference at the Five Star ExpoThe Five Star Default Servicing Conference and Expo officially kicks off September 20th, 2009 and runs through September 23rd. The event is being held at the Fort Worth Convention Center and Omni Hotel in Texas. Steve Forbes is the featured speaker at this huge event for the default servicing industry. The Five Star attendees have many opportunities to network with others in the industry and to sharpen their skills with the Five Star Academics and the Five Star Institute classes.
Many in the default servicing industry are preparing for the next wave or waves of foreclosures to hit the market. In many areas of the country like here in San Diego this will be a welcoming event. That’s right, welcoming. In many price ranges and in many areas of San Diego County California the inventory has had buyers looking at some pretty slim pickings. Many of the first time homebuyers trying to take advantage of the 8,000 first time home buyer tax credit are left in backup offer position to the cash offers. These first time home buyers also come in second place to offers with conventional loans with lots of buyer money in the deal. Some of the reasons for this are that the asset managers and banks like to accept the cash offers and large downs because they have less of a chance of falling out of escrow due to loans falling apart and appraisals not coming in at loan value. A symptom of the market.Foreclosure moratoriums are being lifted in some areas of the country. California for instance has the California Mortgage Foreclosure Prevention Act that was signed by the Governor on February 20, 2009. The California Foreclosure Prevention Act modifies the foreclosure process to provide additional time for borrowers to work out loan modifications while providing an exemption for mortgage loan servicers that have implemented a comprehensive loan modification program. Civil Code Section 2923.52 requires an additional 90 day period beyond the period already provided before a Notice of Sale can be given in order to allow all parties to pursue a loan modification to prevent foreclosure of loans meeting certain criteria identified in that section. A mortgage loan servicer who has implemented a comprehensive loan modification program may file an application for exemption from the provisions of Civil Code Section 2923.52. Approval of this application provides the mortgage loan servicer an exemption from the additional 90-day period before filing the Notice of Sale when foreclosing on real property as designated by this Section.This next wave of foreclosures as it’s called by many in the default servicing industry has been described by some in the know as a Tidal Wave or Tsunami. Many are wondering what effect it will have on the fragile real estate markets throughout the United States. I welcome the wave and the faster we get through this stagnant inventory the better off the whole real estate and economic environment will be. This elephant in the room, the massive foreclosures that are not being put on the market has to be dealt with. Let’s push through and push on and get through this and on to the next real estate market. I’ll take and sell as many assets as I can to help with the situation. So any asset managers or banks that need an REO Listing Agent in San Diego County California call me – Dawn Lewis 619-981-3917. I joined REOMasters Network to not only be associated with some of the best REO Agents and Brokers in the industry but to network with them to offer the best of solutions for asset managers and banks.REOMasters is sponsoring the biggest Charity Event at the 2009 Five Star in Fort Worth. I was very surprised to see that it wasn’t on the Five Star Conference Schedule. The event is called Club Tsunami – The World’s Largest REO Networking Party and Charity Event. All of the profits from the proceeds of the Tsunami Party go to Foreclosure Angel Foundation. Make sure you read about the Foreclosure Angel Foundation and the difference they are making in the lives of families losing their homes. Your ticket purchase will have a direct impact on helping families stay in their homes. This event is sponsored by REO Masters and is a must make event. It will be a NIGHT TO REMEMBER. Make sure you put this event in your BlackBerry and DON’T MISS IT.
When: Monday, September 21st, 2009Where: City Streets Night Club (22,000 sq/ft) 3 blocks from the Five Star Convention)Who: This event is open to agents, brokers, lenders, asset managers and other attendees of the Five Star conference.Time: 8:00 PM to 2:00 AM (All night Long!)To GET TO THE PARTY take the Club Tsunami busses from the Fort Worth Convention Center, Main Street entrance. Busses will travel back and forth from 8:00 PM to 1:00 AMAdmission: $75.00 Advance Registration ($100.00 at the door)Must bring ticket to event. No ticket. No entry.REOMasters™ Network – Get Your Tickets by Calling(866) 446-2977 x 202Register here!Read more…
Posted by Dawn Lewis on September 8, 2009 at 9:32am
San Diego REO News BlogFive Star Fort Worth Texas Club Tsunami REO Party and Charity EventThe next Five Star Default Servicing Conference and Expo will be held in Fort Worth, Texas at the Fort Worth Convention Center. The 2009 Fort Worth 5 Star runs from September 19th to the 23rd. The Five Star is the largest conference in the default servicing industry and is the most well known networking opportunity for real estate agents, real estate brokers, attorneys, title companies, servicers, lenders, service providers, investors, vendors and asset managers. This networking event allows all parties in the REO field to meet and network in one location and share ideas on how to get through the many REO’s on the market and the wave of REO’s to come. It’s where all the parts of the puzzle briefly come together and put together a plan for what to do next. The most powerful people in the REO filed attend and share ideas to better serve everyone involved.At this 2009 Five Star Event in Fort Worth there is a Tsunami Party and Charity Event hosted by REOMasters Network. REOMasters Network is raising heads in the REO Industry as the fastest growing REO Networking Group in the business.About REOMasters Network from their web site:
The REOMasters™ Network is the nation’s newest marketing and business development association for REO Agents and Brokers who want it all. The REOMasters™ Network has partnered with the nation’s top REO coaches and industry leaders to engineer a life and business success REO coaching and marketing association … being built by agents, designed for agents, and owned by agents. Scott McLaine, Founder and CEO of REOMasters™ Network.
The Tsunami REO Party and Charity Event will be the “Biggest and Don’t Miss Event” of the Fort Worth Five Star. The event is on Monday Night September 21st at the City Street Night Club 3 blocks from the Five Star Convention. The Tsunami REO Party opens at 8:00 P.M. and ends at 2:00 A.M. complete with a red carpet walk into the 22,000 square foot mega club. Networking and dancing recommended and encouraged. Busses will take you from the Forth Worth Convention Center, Main Street entrance to Club Tsunami and back. Busses will travel back and forth from 8:00 P.M. to 1:00 A.M. Now you have the place and you have the ride “both ways” now grab a date or a partner or your whole team and get some tickets before they’re SOLD OUT. We want to see you on the Party Bus not the Baby Bus….. Remember it’s for charity too!Register Here!Registration includes:The party is happening at Club Tsunami all night long. Dress to impress and have a great time rocking the house! Enjoy great music from three different DJ’s, try your luck in the casino, check out our social scene, meet great people and network with other agents. This event will sell out. Space is strictly limited! 2 Drink Coupons before 9:30 P.M., Happy Hour Food before 9:30 P.M., Networking Mixer 8:30 to 9:30.Tsunami Casino Night – Play the Craps Table, challenge the Blackjack Dealer, spin the Roulette wheel. Casino funall night long.Two Night Club Dance Floors – Choose from two different theme rooms in order to dance the night away. Cages will feature the best of pop and top 40’s dance hits while Indigo will play the best of the 70’s, 80’s and 90’s.Cigar and Scotch Lounge – Enjoy a fine glass of premium scotch and a quality cigar in the Tabu Lounge. Sip your drink, make some new friends, network with old ones. Just sit back, relax and enjoy the evening.Top Shelf Bar – Order your favorite drinks at the numerous bars throughout Club Tsunami or from any one of our many hostesses. Drink tickets provided at the door with admission.Raffle Drawing – With every ticket you purchase you will be entered into our drawing to win one of many prizes that will help you to grow your business.
100% of ticket sales profits will benefit the Foreclosure Angel FoundationWhat is the Foreclosure Angel Foundation – Excerpt from clubtsunami.netForeclosure Angel FoundationBeing Supported by the NFSTI REOMasters™ NetworkWe’re Fighting a Real Problem …That Needs Our AttentionThe Foreclosure Angel Foundation was born when Marilyn Mock saw a need in November of 2008 to help her neighbor who was about to lose her home. With nowhere else to turn but the streets, their home went up on the auction block.Marilyn bought the home at the auction price and sold it right back to the owners at the now lower cost. Marilyn had a keen sense that “It could be me in that situation.” One major life change could rip her family from their home too.Ever the optimist, Marilyn thought that others in her community who saw this need would surely step up and help. She took desperate letters from families losing their homes to a function where her friends and acquaintances had expendable income. Marilyn was shocked when they didn’t even want to see the letter, much less offer any help.At that point, Marilyn once again had another layer of her rose colored glasses ripped away, but this time she became determined. She believed that the American spirit of neighbors helping neighbors would win out.If you’re going to the Five Star Fort Worth 2009 make sure you make this event. This will be the one everyone remembers and asks, “Were you there!”.Read more…
5. Network with REO agents from across the nation at Club Tsunami.http://www.clubtsunami.netHaving a network of REO agents as a resource is a must to increase your business and knowledge of the REO business. You can call upon your network of other reo professionals when you have a question about a REO company that you've just started working with, need cash for keys advice or want to compare ideas for how to best grow your REO business.4. Network with Asset Managers to increase your business.http://www.fivestarconference.com/Asset Managers attending the 5 Star Conference in Texas are not going to want to miss the fun and excitement of Club Tsunami. Meet asset managers in a relaxed and fun environment.3. Have Tons of Fun at Club Tsunami!!!!Club Tsunami offers 3 D.J.'s., 2 Night Club Dance Floors, a Casino Room, Cigar and Scotch Lounge, VIP Room, Top Shelf Bar and Dancing all night long!2. Network with the State and Executive Directors of ReoMasters Network.http://www.Reomastersnetwork.comThe REOMastersTM Network has partnered with the nations top REO coaches and industry leaders to engineer a life and business success REO coaching and marketing association ... being built by agents, designed for agents, and owned by agents.1. 100 % of ticket sale profits benefit an amazing charity: Foreclosure Angel Foundation.http://www.foreclosureangelfoundation.com/Marilyn Mock, the founder of Foreclosure Angel Foundation, makes it her life mission to help her fellow Americans keep their homes when they have no other place to go. Have fun at Club Tsunami and help to support this amazing cause.Club Tsunami is the place to be at the 5 Star Event to have fun, network and benefit a great charity. Don't miss out!http://www.shawnbradfordteam.comRead more…
At some time in life, many of us were told we have no business complaining about things in life that we don't know about, don't participate in, or don't help to make better.I'm paraphrasing a few examples here ...Obama has said it - "I can't do it alone. I need your help."My former CEO said it "Bring me a problem, and bring me a solution."My former boss said "Great point - you are in charge of fixing it."My REO Masters Co-Founder Scott MacLaine said it "This is an organization where members don't join and expect success to happen, but have a hand in making a difference."I'm down with this philosophy (i.e. in agreement) because it just makes sense. It's practical. But I'll let you in on a secret - The other day I did happen to fall off my high horse and complain. It all started in court, where I'm spending way too much time lately.In my role as an REO Broker, I am frequently asked to appear in court as a witness for the bank at unlawful detainer hearings. A few weeks ago, the defendant actually showed up. This couple pleaded to the judge about saving their home, doing a loan modification, whatever it took, they were committed. The judge had to explain, as delicately as he could, that it was too late and that the bank filed to gain possession of their property. He granted the couple 2 weeks to vacate. Within the two weeks, the couple managed to get a relative to get qualified to buy the house. The bank agreed to go into escrow, knowing full well the relative was purchasing the home to enable the former defaulted borrowers to stay in the house. If escrow closes, the occupants essentially will have been awarded the mother of all loan modifications since the new purchase price and interest rate are well below what they were when the couple purchased the home at its peak. And the big bonus - the occupants have not paid their mortgage for about a year!Since the bank is the decision-maker, I happily facilitated all this. And then scratched my head and said ... What the ??? How do I get a deal like that???OK forget about me - what about all the other people in need? What about my client who suffered a rare disease resulting in a bone marrow transplant and a short sale because there was no loan modification that could help?I don't begrudge the couple fighting for their home. I don't know them. Maybe they are great people and this is Karma coming around to help. I may never know. But I am pretty certain that in this unprecedented real estate climate, the stories, the backgrounds, and the behavior behind those who have lost their homes are as diverse as one can imagine.Can we really blame government or banking institutions for helping those less deserving, or foregoing those in real need? Maybe not if:1) Policies are helping to solve the problem at large on a high level.or2) I'm not part of the solution.Enter the Foreclosure Angel Foundation. This is not my idea so if am insinuating that I am part of the solution, well, let me disclose that I'm merely outsourcing my contribution to the solution by supporting Marilyn Mock, founder of the Foreclosure Angel Foundation. This is an amazing lady who has started a foundation to help the neediest of those in foreclosure. You may have heard the expression "Think Globally, Act Locally." That's how Marilyn got started. She saw a problem and jumped right in. Never complained to anyone on behalf of the victim, never complained about the cruelty of the world, just took decisive action.I first saw her on Oprah (my wife made me watch it) and then when the founders of REO Masters announced the organization's support for Marilyn and the Foreclosure Angel Foundation, I was thrilled. The support will kick off with a fundraising event at the Five-Star Conference in Dallas later this month.Complaining feels good. But being part of the solution feels even better.
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