REO Business - Mentioned a couple weeks ago

It was mentioned a couple of weeks ago that we should ALL update our pages with our experience and zip codes. Their was a HINT of something to come. Can someone clear the air and be more specific on what is coming?I have seen many more NOD's and NOS's in Sacramento County. Lenders can't HOLD them forever, but are the Lenders now doing more loan mods? It appears that through Titanium Solutions the Lenders are working hard to do loan mods. Are they doing loan mods because they feel it is better for the client or are they just meeting the TARP requirements?I have worked really hard on Short Sale Listings, as I am sure many of you have. Yesterday I lost a short sale because the Investor holding a Green Tree NOTE would not release the unpaid balance and they are demanding repayment. Um... ok, well I asked my client to seek legal counsel from a Real Estate Attorney and the Attorney counseled her to let it foreclose because she was young and would recover within a few years and have the ability to buy again.I am staying positive and know that I am staying in Real Estate for the LONG Haul!!!God bless and good luck everyone!
E-mail me when people leave their comments –

You need to be a member of REO Pro Network to add comments!

Join REO Pro Network

Comments

  • Hi Susan, Nick, and Johnny,

    Thank you for all your comments. I needed that.

    Susan, it sounds like you've had great success. Would you suggest I become a member of res.net? I had a paid membership to reotrans.com, but cut back. would you suggest I pay for the zip codes I want now before the tidal wave of Short Sales come. From the www.CDPE.com workshop, we were told it was coming and coming soon!
  • I think the Titanium "stuff" is the sign of things to come. Everyone is starting to do asset manager short sales, I've received 3 assignments from another company and got on their REO broker panel that way. BofA is assigning and processing short sales through REOTrans and res.net is ramping up their software to receive assignments from other outsourcers. This is it folks, the new "REO" wave.
  • Hi Chris, I can relate on the short sale pain. I'm also hoping the REO release will come shortly. IMO alot of the Titanium etc. stuff is done for the lenders to meet govt requirements and then move forward. I suppose time will tell.
  • Chris, I think thinigs will be coming soon. I have a feeling it will. Keep a chin above water and breath slowly :-)
This reply was deleted.