on (17)

Submitting your Broker Price Opinion two hours before the 24, 48, or 72 deadline is very important!! The reason: if the BPO Company/Outsourcer has Quality Control Department has issues with your BPO for accuracy, distances from the subject or whatever the reason may be. If you submit your BPO early, this will give you time to fix any issues and then send it back before the BPO Company flags you for being late!!

 

REOCertified @ www.BrowningRealEstateSchool.com

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I'm sure you may have wondered what the average home buyer in the U.S. looks like today, or not so much what they look like but how old they are, where are they coming from, what sort of job or income are they earning and which region of the United States are they coming from.
It is all interesting information - to some - and in particular those in the business of selling real estate, prospectors, sellers and investors alike. So who are they and what is the market for real estate buying actually like in the flesh?
In the previous four years to 2013 in America the average age of the first-time buyer has been about 38 and an annual income just above $80,000. These are averages of course but in those four years the large majority of first time buyers have managed to put down a 25 percent down on the home they have bought.
So generally speaking, your average American has got a nice job and earns around $80,000 and has managed to save a large deposit to allow a lender to approve a mortgage for their new home, condo or apartment. It is possible to buy a nice condo in Florida for $100,000, so if you can afford the typical 25 percent deposit, your mortgage would be for $75,000. This is the average American today, or at least in the last four year period from 2009 to 2013 but you can rest assured that these typical average examples would not have been the case in the four year period between 2005 and 2009 nor the four-year stretch before that.
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The housing market in America took a hefty downturn in 2007 and the car has only just stopped rolling down the interstate bank and coming to a rest but as America recovers. What about foreign investment in real estate properties? Just as Canada has enjoyed recently in affluent cities like West Vancouver, real estate buyers are flocking in to American cities from as far away as China and Vietnam. The Chinese have plenty of dollars since its economy began a boom from the early 21stcentury.

There are also many second home buyers looking to grab property and you will find the average age of these people is 47 and they will earn on average about $90,000. The majority of home buyers are from the south (41 percent) and the affluent north-east sees the lowest percentage (13%) of first time buyers.
You may be close to these averages, but you may not be in a more affordable home buying area. Whether you are buying your first or second home, be sure to contact a real estate professional for assistance.
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Best home features to draw the highest sale price.

photo credit: Jeremy Levine Design via photopin cc

photo credit: Jeremy Levine Design via photopin cc

Investing money in a rental property or a flip can yield great dividends.  However, not all improvements are equal.  It is important to put your money in the right places in order to have the greatest impact on the home's value.  Here are the top features you can add to a home that will likely draw the highest price.

New Deck

The addition of a deck is one of the best improvements that can be made to a home.  In fact, Remodeling Magazine published a report that stated over 85% of the money spent on a deck will likely be recovered when the home is sold.  This compares favorably to 78% of the money spent on remodeling a bathroom.

Decks add another usable area for families to entertain or relax.  It is wise to plan out the deck properly in order to maximize space, function and appearance.

Sunroom

One of the hottest trends over the past few years has been the addition of sunrooms.  These areas allow homeowners to feel close to the outdoors while staying comfortable inside.  Skylights and tile floors are common in sunrooms.  Owners can choose to have the room heated or not, depending on climate and budget.

A sunroom will add to the total square footage of the home but at a cheaper price than adding other types of rooms such as bathrooms or bedrooms. The best place to put a sunroom is just off a major area like a living room or kitchen.

Office

More companies are offering employees the option to telecommute and freelancers are growing in numbers every year.  For this reason it is quite common for people to need a specific work area in their home.  Having an office in the home makes it easier for people to get their jobs done and the area can be a deduction on taxes.  Popular features are multiple electrical outlets, internet line outlet, open space and storage cabinets.

Light and Space

Tight, dimly lit spots are a real turn off for potential buyers.  If there are areas in a home that do not have access to sunlight then it is a good idea to add electrical lighting.  Recessed lights, adjustable lights and modern light switches add a contemporary feel.

Besides adding light you can opt to add more space.  This can be accomplished by removing walls that block off areas from each other.  Many homes now have a wide open spot comprised of the kitchen, living room and dining room.  This allows a number of people to socialize with each other without the need for everyone fitting in to one small room.

This is not to suggest that all the above features need to be added to a home in order to increase its value.  These are simply some of the best ways to recover costs and attract buyers to a home.


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I had a listing that was “chosen for alternate marketing” …AUCTION. Now comes the new LA. This is after 3 months of pre listing tasks and only 2 weeks of marketing with the original asset management company. The original LA was a 1500.00 min commission to the LA. Not really all that bad on a 32K property. Actually a very fair commission if you don’t break it down by hourly increments. The auction LA comes and it is now a new commission. 800.00 minus the fee so it comes to 645.00 for the LA. The day the property went to the auction e mails began arriving. A BPO , new photos , a property condition report, bids for repairs and several other “requirements” now on the auction platform all waiting for completion by me. Meanwhile the other emails began. Several of the auction minions began directing all in different directions on their separate tasks. At least 3 demanded the new BPO be e- mailed directly to them. Each not knowing the other was requesting the same task. Now I am not going to bore anyone with all the miss step,  lack of communication and disrespect these auction companies have involving the Listing agent.  I am not going to delve into ALL of the downsides of these assignments when they go into the “Auction world”. Most REO agents have their “own war stories” to attest to on this subject. Suffice it to say there are too many issues for me to discuss here and now. I will skim over just a small amount of BS in the Auction process. The Auction company needed me for anything and everything they needed and nothing in anyway beneficial or even in consideration of me. They removed my sign on the first day, thus removing the ability I would have for a local buyer to contact me directly. They never communicated with me, never sent me the offer or even the accepted contract, never informed me of the closing agent and never once kept me informed of a property that I was claimed to be the listing agent on. Finally 12 hours before they had scheduled closing  the escrow agent  informed me I had to pay a “past due sewer bill of 124.00 or this would not close. This came via e mail at 4:30 and closing was to be at 9 AM. I had no contact numbers no e mail addresses other than this escrow agent’s.  I had previously checked for any past due bills and saw all were paid. Since no utilities were on at the property due to missing plumbing I was a little confused by the 124.00 newly discovered bill. I called and the escrow agent and got no response. (What a Surprise!!) The next day I called the city for the “past due” sewer bill amount that was said to be holding the closing.  The person I spoke to informed me that it was not a sewer bill but a trash service bill that follows the previous owner not the property. It was assessed in 2010. It had no effect on the property or the deed.  Now here we go. If I had paid that bill it would have been on behalf of the previous owner. No reimbursement would have been given to me and I would have been out 124.00 making the commission on the entire listing dwindle to 397.00 for all the work I did. I made up my mind in that very moment to refuse to do even one more of these auction assignments. I would rather work for nothing for 3 months than worked for pennies for 6 months. The auction companies need the Agent to keep the utilities on, keep doing property checks and to pay any bills that are discovered in the last hours prior to closing. They need us to keep the property in the MLS. They need their website on the MLS to direct local buyers to them for the auction. They need us to do all the work they get paid for. This sale was 16000 K. I had an offer for 21 K days prior to the auction.  The auction company charged the seller 2700.00 auction and another 1500 for management fees a total of 4200.00 on a property that sold for 16 K!! The auction in turn was paying me 645.00. The auction company also charged the buyer a premium of  5 %. So for all my work the auction company received 5000.00 and paid me 645.00. (Again only 397.00 if I had been dumb enough to pay the 124.00.) The banks are willing to pay these auction companies well over 6 %. In fact this was a 33.2 percent fee of the total selling price!! On top of all this the original Asset Company also was paid a fee for their participation in the asset process!! Auction companies do not have employees in the area. That is our trump card here. They have to have an agent. So does the seller. So why do we work for pennies when we see the banks WILL pay absurd amounts for the property disposition for only minimal work by the auction companies?? Why do we ever agree to assist the auction companies who continue to use us? All REO agents may think about  declining the assignments when they are chosen for “alternative disposition” by way of any auction. The asset managers love when you do this. The auctions companies are in direct competition with them. .After the above mentioned auction I refused the next one. It was taken from the auction company and given back to me PRIOR to the auction start date for traditional marketing on the MLS. Not participating in the auction process is a very small step in gaining some of the self-respect we have lost.

 

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Marshall Short Sale ClosingWe are happy to announce that last week we had another successful Wisconsin short sale closing, this time in Marshall. As you have likely heard, short sale transactions can be complex, and an experienced Short Sale Realtor® is a must.

This was a great home that the new owner is sure to enjoy! If you are thinking of selling or buying a short sale home in Wisconsin, our short sale specialists would be happy to assist you. Give Rock Realty a call at 877-774-7625.

Or, if you are considering a short sale for your home, feel free to fill out our no obligation

Short Sale Home Evaluation Form

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The group this week hit a milestone I wanted to welcome all the new members and thank the first members for their posting of comments and keeping the group active and growing.

This group is to discuss Bank of America properties with Bank Of America and to share solutions to getting more business with Bank of America or getting in the door with Bank of America and to stay up to date on their requirements.

Website: http://reopro.ning.com/group/bankofamerica

Members:                            169

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It's coming up on 2012 and I wanted to take a look at some predictions I had made for 2011 and just how well I did....or didn't do.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, "Lack of substantial job growth"

Well, I would say I was pretty on target for that prediction. I had mentioned that I didn't believe the underlying problems to the economy were going to be addressed and therefore, we couldn't expect a robust recovery, if one at all.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, "Government Home Retention Programs prevent a Real Estate Bottom."

Once again, I would say I was pretty darn accurate about real estate not hitting a bottom. The Federal Government hasn't released any new statistics on the recent success or lack of success on their foreclosure prevention programs however, with the increasing or steady number of NODs and Foreclosures, I would suspect that we haven't hit a bottom yet and yes, a lot can be laid at the feet of our government who is instructing banks to avoid foreclosing. I remember at the start of 2011, when I was out doing relocation assistance negotiations, people had been in their homes for 4-6 months before I showed up....now it's more like 14-24 months......no bottom in sight anytime soon.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, "Energy Prices will Rise to Un-precedent levels"

Now, on this prediction, I can't really say I was spot on but, I can say I was close. You see, we never made it to $5.00 a gallon for gas but, commodity prices in general are skyrocketing. In fact, most commodities like, cotton, sugar, gold and others are reaching record levels or surpassed record levels. This is obviously a sign of inflation concerns, higher cost, weak dollar. So, I won't say I was spot on but, I will say I was on track with this one.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, "Credit Tighterning"

I predicted that credit tightening would continue and it would become increasingly harder for the average citizen to get a loan......have you tried to get a loan lately......you better have a 650 fico and at least 15% down.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, " Unforeseen National Crisis"

More specifically, I predicted that obviously I can't predict a unforessen national crisis but, I am glad to say that on this prediction, I was wrong. At least, I am not aware of a "national crisis" of global concern.

All said and done, I would say I was pretty accurate....maybe a little skimpy on details but, 2012 predictions are coming and I assure you, I will detail those predictions up.

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Half of Homeowners Underwater on their Mortgage50% of Homes with Mortgages now Underwater


I came across the video below and was shocked to hear that nearly 50% (half) of the nations homeowners are effectively underwater. In times like these, it's important to know that there is help available. If you are a home owner that is struggling to make mortgage payments, I would first suggest that you talk with your bank. They may be able to offer you a few different options. They can sometimes lower your interest rate, offer you a forbearance, or even roll your past due amounts into the mortgage principal.

 

In the event that you need to sell your home due to your financial situation, I would be happy to discuss if a short sale might work for you. This is a process in which we work with your bank to sell your home for less than you owe on the mortgage. Does your home qualify for a short sale? Fill out our Short Sale Home Evaluation Form to find out.

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Ok....so for the past few months, I have been hearing a lot
of people saying that their REO Inventory has been slashed or REO is really
slow....or...."a decrease in REO inventory" however, I would like to
suggest an alternative opinion.

 

First, let's talk about one of the earliest steps to
foreclosure, the NOD or Notice of Default. Now, I have looked everywhere and I
can't find a single source authority on just how many have been sent out
monthly since the start of 2011 as a nationwide statistic however, I did find some
interesting articles on many different websites that lead me to believe that
the NODs are on the rise. Granted, I searched like 20-30 different websites so,
I can't realistically quote each one however, the overall trend was most areas
have seen a steady or slight increase in the number of NODs each month. I did
see some articles where some areas have seen a decrease in NODs but, these were
really rare and seemed to be in areas where the average home price was well
over 250k.

 

My point above is, most of us haven't seen the numbers of
NODs drop significantly enough to see such a dramatic decrease in inventory.
Let's be honest with each other....how can we have a decrease in NODs when we
haven't really seen a correlated decrease in the unemployment rate? Yeah, I
said it.....and yes, it's obvious. If you don't have jobs...or job growth then
how can you see a decrease or even a leveling out of NODs? You can't....well,
you shouldn't anyways.

 

Now, what I do see happening, more and more is that many
homeowners are staying in their homes much, much longer than ever before. I
remember a time when I would do a relocation assistance negotiations and the
homeowner had only missed like 7 payments. Now, it's more like 24.....as a
minimum.

 

The sad truth of the matter is, regardless of how long these
people stay in their homes, regardless of whatever new "refinance"
plan the government can come up with, these people can't maintain a monthly
payment because they are too buys trying to find the money to pay their cell
phone bill, their electric bill, their car payment, car insurance, gas, bread,
milk, new shoes for little Jimmy and Susie, etc...

 

In short, yes....your inventory maybe shrinking...hell, it
my have even dried up but, it's not because no one in your service area is in
default, it's likely because the servicers and investors in your area are under
some type of regulations or "understanding" that if they don't want
to loose their FDIC insurance or be audited by the FDIC, they better slow their
roll on foreclosure and keep people in their homes....at least until after the
election that is.

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Are you writing down your weekly, monthly and yearly goals?  Have you reached those goals?  If not, you can benefit from having an Accountability Partner.  What is an Accountability Partner?  Somebody you team up with and make a commitment to. Let's take REOPro....you can team up with another agent across the country or someone a state away. As an example, if your goal is to make 20 new bank or AM contacts per day or week, put it into writing or maybe one of your goals is to visit 4 local banks in person per day, or whatever you do as a dollar productive activity, put it into writing and email them to your accountability partner.  Pick an accountability partner that is successful and committed to their business, someone that is in the same business as yourself, so that they know what it's all about, someone that is nice, but also tough.  Someone that will push you and encourage you.  You can check in with this person at the end of every day by phone or email or set a time with communicating 2 or 3 times a week, whichever works for you both.  Also, set up a reward at the end of every month or two if you meet your goals, did you make those personal contacts and cold calls each day.  Rewards could be a weekend getaway in the mountains or a 3 night cruise, something you can look forward to for all your hard work.  Now on the other hand, if you didn't reach your goals, maybe you need to give $500. or more to a cause or person that you don't particularly like or something equally as painful.  Your accountability partner could mail the check for you to keep you on the straight and narrow.  You make up the rules to begin with and then stick to them. Every 3 to 6 months, re-evaluate your goals and make necessary adjustments or changes.  You can do the same for your partner.  Remember, it's easier to keep on track if you have someone that you are accountable to.

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The group this week hit a milestone I wanted to welcome all the new members and thank the first members for their posting of comments and keeping the group active and growing.

 

 

This group is to discuss Bank of America properties with Bank Of America and to share solutions to getting more business with Bank of America or getting in the door with Bank of America and to stay up to date on their requirements.

Website: http://reopro.ning.com/group/bankofamerica
Members: 103

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Credit reports frequently have mistakes. Very often consumers are not aware of these mistakes until they are trying to obtain credit for a large purchase like a home or car.  There is a process for rectifying credit mistakes, but it can take some time.

As more and more short sales are being processed it is only natural that some mistakes are showing up on credit reports, especially since there is no standard way for a credit report to reflect a short sale. The bank may report loan paid as agreed, or loan paid for less than the full amount. Which ever way it is reported it should not say foreclosure. Unfortunately occasionally this will happen, but the fix is easy.  When you sell a home as a short sale you will receive a HUD1 statement. this is a statement that spells out what money came in from the sale and how it was distributed. If a home is foreclosed there is no HUD1 given to the owner.  So, if you have a HUD1 your home was not foreclosed.  You should send the HUD1 to the credit reporting agency along with the statement that since you have a HUD1 you were not foreclosed on. They can then remove the foreclosure from your credit report. 

It is probably a good idea to check your credit report 6 and 12 months after a short sale just to make sure this has not happened.

If you have nay questions about short sales please feel free to contact me.

Marcy Moyer CDPE

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

 

Federal Government Disclaimer (MARS): 1. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us commission as agreed to in listing contract for our services.
2. Marcy Moyer of Keller Williams Realty is not associated with the government, and our service is not approved by the government or your lender; and 
3. Even if you accept this offer and use our service, your lender may not agree to change your loan.


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New group LinkedIn on REO PRO

I have been on linkedin for sometime, I believe the network can help your business I have been contacted from my profile and have received listings from connections on Linkedin. Feel free to send me an invite today I am always looking to add connections. You can share your email within the group on the wall post for others to be able to invite you as an added connection on Linkedin you will have a chance to be added by all those that are members of this group. I hope this expands to all members on the REO PRO to be conncected on LinkedIn this will give us all an advantage. 
LinkedIn
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California has a lot of disclosure laws for the protection of all parties in a real estate transaction, particularly buyers. There are buyers who do not want to buy a home where there has been a death on the property, and there is a disclosure obligation to disclose if there has been a death in recent years.  This works very well if the seller has to fill out the Seller's Supplemental Disclosure or The Seller's Property Questionnaire and Supplemental and Contractual Disclosure forms. But many trust properties are exempt from those disclosures, and many of those properties would be more likely to have had a recent death.  So what do you do if you want to know if there has been a death on a Mountain View home that is exempt from seller's disclosures?

The answer is really simple, ASK THE SELLER.  What you have to do is for you or your agent to ask the seller's agent to ask the seller directly if the owner died in the house.  While the trustee or executor does not have to fill out the written disclosure asking about a death, they do have to answer honestly. Trust me, the person selling the house will know.

The trust advisory that the buyer is supposed to sign when they make an offer tells you to do that. It says "If the Property is being sold because of the death of an occupant of the Property, and if Buyer has concerns about the manner, location, or details of the death, then Buyer should direct any specific questions to the seller."

So if you are concerned, ask.

If you have any questions about buyer or selling a property in Trust or Probate anywhere in San Mateo or Santa Clara Counties, please fell free to ask me.

 

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

650-619-9285

marcy@marcymoyer.com

DRE  01191194

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A Correction is Coming

For many of us, we have heard commentators talking about the slow housing recovery however, if you believe a slow housing recovery is what is happening, I beg to differ.

I have been preaching now….for at least 6 months or so, hyperinflation could be coming and after what happened last week with the Federal Reserve, I am not just speculating anymore but, predicting we will enter an era of hyperinflation. Granted, several factors need to come into play but, make no mistake, the stage has been set and the players have been cast.

Last week, the Federal Reserve decided to print almost a Trillion dollars in order to buy, almost a Trillion dollars worth of Federal Debt. This is just like you, using your Brother Multi-function printer, scanner, copier to print out some money and use it to buy your own debt back from one of your creditors. Obviously, the money you printed is absolutely no good and therefore, you end up being unable to pay off your debt and in return, go bankrupt. The problem is, it’s not that easy when we are talking about national financial planning, or lack thereof.

Ultimately, when a country, like the USA, buys back our own debt we cause inflation but, that isn’t all we do. We also deflate the dollar or cause the dollar to decline against foreign currencies. In other words, inflations skyrockets and the value of your dollar drops. It’s exactly like what happened to Germany in the Weimar Republic, see wiki link http://en.wikipedia.org/wiki/Weimar_Republic

So, how does this impact real estate, you may be asking….well, let me elaborate a bit more.

You need to keep in the back of your head, the real estate bubble still hasn’t stopped bursting. We still have hundreds of thousands of homeowners on ARMs or other high risk lending packages that will be resetting for up to the next 2-4 years. If we go through a time of hyperinflation, these people will be priced out of their homes, days…..not years. We will flood the market with an unbelieveable amount of inventory or banks will be required to hold the inventory, similarly to what they are doing now voluntarily….so we are told.

Either way, the realestate market is doomed. If banks keep these toxic assets on their books and don’t have the necessary liquidity to fulfill the demands of withdrawals because all their money is tied up or even worse, they don’t have any money because they made so many bad loans…..we have a “Great” Depression…..like this country has never seen. Not to mention, since the US Dollar is the World’s reserve currency, we potentially could….and most likely will, take down most all of the World with us.

If you believe what I say is crazy talk or I have lost my mind, listen to what China and Germany have already said. http://www.reuters.com/article/idUSTRE6A12IA20101108

I am not trying to scare any of you….I am hoping and praying that you will research this for yourself and make your own conclusions and prepare yourself and families for what could happen. Yes, my family does have a “disaster” plan…….I know that may sound a bit spooky but, I have tried to live my life with a couple quotes in my mind and one of those is, “Luck favors the prepared” and, in this economy, luck can go a long way.

My point is, if the Fed continues with their Quantative Easement or Debt Monetization, this country will enter a time like none we have ever seen. The worse part of all this is, what if the people I listen to, the people I know who know much more about this stuff than I do…….what if they are right?

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Not just another REO Asset Management company, really?

Well, after talking with the Executive Management Team, interviewing on BlogTalkRadio and, now attending their conference, I can truly say I believe they are different.

Unlike all the pretenders who say that they aren’t just another AMC I can truly say that I know Bridge is different and in a really good way.

So what makes them different…….let’s start with the money back guarantee.

I have in writing a Money Back Guarantee that was signed in front of me by Alester Waddell CFO and notarized. Now, I am not going to go into detail about every single detail in this guarantee but, just let me say, Bridge really stepped up and is doing the right thing with it.

Secondly, their purchase power is a bit sexy…..if you know what I mean? Not that I wanted to be impressed of felt as if they were being boastful or pride full but, let’s just say, if size really mattered………….they would be masters of the universe and rock your world.

Thirdly, the technology, thank goodness someone has built a technology that appears to be fairly seamless and transparent. I have a bit more to learn here so, I won’t say more than, it looks good and if it can do all they say it can…….it will be incredible.

Fourthly, relationships! I am so glad I got to meet and have dinner with the owners and Executive Team…..that is so missing in this industry. Let me be clear, they didn’t just have dinner with me and excluded themselves from the rest of the pack. They mingled, sat at different tables, got to know the Realtors they are partnering with……………..why can’t the rest of our industry be like this?

Last but not least, passion and desire with an eye to the integrity of the whole process. I was able to set down with Bobby Funk for a spell and was really glad to find someone who felt, and sounded just like me. I was impressed and thrilled that it was as if we were reading from the same play script. It was so strange I had to step back, pray and ask the Almigty…………was this possible, did I happen across a company who thought like I did? I have to admit, my last night in Burbank, I got the chance to sit down with Marla Webb and it was confirmed that YES, I did find a company who thought like I did about this industry. Marla, you are the bomb!

All in all, it was all good….better yet, incredible. I can’t wait to start making money and hopefully, I can get down to working with just one asset company……Bridge! I know for many of you that may sound like a pipe dream but, with the way this company works, let’s just say……..Bridge is my triple platinum gold credit card and I plan on using it!

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Last night, Jennifer Kraus with my local news, NewsChannel5 did a story on a company called dont4close.com. As a part of the NC5 Investigates report Mrs. Kraus chronicled a very depressing story about a family who is loosing their home due to mortgage arrearages and were taken advantage of by a less than scrupulous man who guaranteed he could save their home from foreclosure. As a Certified Home Retention Consultant with Titanium, when I saw the story come up, I was entranced and attempted to understand every detail. Ultimately, the family was facing foreclosure and contacted dont4close.com to help them save their home. Allegedly Charles Jones behind dont4close.com offered the homeowners, the Reynolds, a deal they couldn’t refuse. He offered to pay their mortgage for 1 year and after that time, the Reynolds could start paying him back. Well, to make a long story short, allegedly Charles Jones sold the Reynolds home to a third party, a woman named Gladiz Romano. After some investigative work by Mrs. Kraus she found Mrs. Romano who admitted she bought the house but has never made a single payment for the home or ever even visited the home. In closing, NewsChannel5 offered up some “tips” on how to prevent other homeowners from being in this situation. One of the tips they offered was, “If you face foreclosure, stay away from businesses that guarantee to stop the foreclosure process, require you to sign over your property deed or pressure you to sign papers you don't understand.” Web link for full story…. http://www.newschannel5.com/Global/story.asp?S=9815589&nav=menu374_2_2 As a HRC, Realtor and concerned citizen, I totally agree with the statement but, what bothered me was, the story left it there…..they didn’t go further. They didn’t explain that sometimes banks will send out representatives to homeowners residences because homeowners loose communication with their mortgage servicers and they (the servicers) don’t have any other choice. I am sure this oversight was simply due to a lack of knowledge that a legitimate process does exist to preserve homeownership or at the very least avoid foreclosure so, I wrote an opinion editorial to Mrs. Kraus and hopefully will be able to address my concerns with the story but, either way, it’s important that those of us who work hard, legitimately, morally, ethically do what we can to create positive news worthy stories and get the message out, we are here to help!
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