Comments on: Real Estate Agents & the BPO: One Reason Why Your Having a Hard Time CLOSING Your Short Sales http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/ ...breezing through short sales like a short sail Sun, 05 Sep 2010 02:12:50 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Travis http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/comment-page-1/#comment-140 Travis Fri, 08 May 2009 17:30:46 +0000 http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/#comment-140 Whenever you can be as thorough as possible through the process you run into less hiccups down the road. Whenever you can be as thorough as possible through the process you run into less hiccups down the road.

]]> By: Kevin http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/comment-page-1/#comment-73 Kevin Sat, 14 Mar 2009 05:18:17 +0000 http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/#comment-73 Hi Ken, I'm not sure I understand your comment. How do investors "take equity and wealth" from homeowners when there is no equity to be taken? There is absolutely no equity in these properties, hence the term "short" sale. The purpose of this video is to educate agents on how to guide BPO agents through the appraisal process. There is nothing fraudelent about this video. There is a big difference between those simply facing foreclosure and a short sale. Investors should not force homeowners to short sale if they don't need to (ie. the property can sell for more than they owe). However, in a short sale, it has already been determined that the loan amount exeeds the market value for the property. This video highlights techniques that are to be used between an agent and the lender's BPO, not between an investor and the homeowner. Big difference. Hi Ken,

I’m not sure I understand your comment. How do investors “take equity and wealth” from homeowners when there is no equity to be taken? There is absolutely no equity in these properties, hence the term “short” sale.

The purpose of this video is to educate agents on how to guide BPO agents through the appraisal process. There is nothing fraudelent about this video. There is a big difference between those simply facing foreclosure and a short sale. Investors should not force homeowners to short sale if they don’t need to (ie. the property can sell for more than they owe). However, in a short sale, it has already been determined that the loan amount exeeds the market value for the property. This video highlights techniques that are to be used between an agent and the lender’s BPO, not between an investor and the homeowner. Big difference.

]]> By: Ken Crotts http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/comment-page-1/#comment-71 Ken Crotts Thu, 12 Mar 2009 15:16:45 +0000 http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/#comment-71 This video highlights practices that took the equity and wealth of many unsuspecting homeowners facing foreclosure in past years. I spent allot of time in 2005 and 2006 at the foreclosure auctions talking with legitimate investors about their businesses. In late 2006 word was getting out that renting back homes to defaulting borrowers was being viewed with suspicion by the courts and that a number of cases had established this as a risky practice. Legitimate investors were avoiding any practice that looked like one of these schemes long before the Washington State Distressed Property Act was even being debated. Once the Act became law it imposed such significant penalties that these con artists who perpetrated this type of fraud has all but disappeared. The act also took away a valuable option from the defaulting homeowner by forcing them to move even when a investor was willing to purchase the property and have the defaulting borrower rent it back. The good news is that this type of fraud, in Washington State, is way down and I think you should clarify that to local residents who may be watching this video. Anyone who thinks they have been a victim should contact the attorney general’s office. This video highlights practices that took the equity and wealth of many unsuspecting homeowners facing foreclosure in past years. I spent allot of time in 2005 and 2006 at the foreclosure auctions talking with legitimate investors about their businesses.
In late 2006 word was getting out that renting back homes to defaulting borrowers was being viewed with suspicion by the courts and that a number of cases had established this as a risky practice. Legitimate investors were avoiding any practice that looked like one of these schemes long before the Washington State Distressed Property Act was even being debated. Once the Act became law it imposed such significant penalties that these con artists who perpetrated this type of fraud has all but disappeared. The act also took away a valuable option from the defaulting homeowner by forcing them to move even when a investor was willing to purchase the property and have the defaulting borrower rent it back.
The good news is that this type of fraud, in Washington State, is way down and I think you should clarify that to local residents who may be watching this video. Anyone who thinks they have been a victim should contact the attorney general’s office.

]]> By: louisville apartments http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/comment-page-1/#comment-59 louisville apartments Wed, 25 Feb 2009 02:35:32 +0000 http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/#comment-59 Great advice!Thanks for sharing this interesting topic.It will help me a lot when it comes to short sales. -Ella Great advice!Thanks for sharing this interesting topic.It will help me a lot when it comes to short sales.

-Ella

]]> By: Real Estate news and topics for brokers » Archive » bReal Estate/b Agents amp; the BPO: One Reason Why Your Having a Hard b…/b http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/comment-page-1/#comment-56 Real Estate news and topics for brokers » Archive » bReal Estate/b Agents amp; the BPO: One Reason Why Your Having a Hard b…/b Mon, 16 Feb 2009 10:39:15 +0000 http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/#comment-56 [...] kkim added an interesting post today on bReal Estate/b Agents amp; the BPO: One Reason Why Your Having a Hard b…/bHere’s a small readingLet me start off by saying that I love breal estate/b agents and have a profound respect for them. The purpose of sharing this video therefore is to do everything I possibly can to teach you how to enhance your success with short sale b…/b [...] [...] kkim added an interesting post today on bReal Estate/b Agents amp; the BPO: One Reason Why Your Having a Hard b…/bHere’s a small readingLet me start off by saying that I love breal estate/b agents and have a profound respect for them. The purpose of sharing this video therefore is to do everything I possibly can to teach you how to enhance your success with short sale b…/b [...]

]]> By: Real Estate news and topics for brokers » Archive » bReal Estate Agents/b amp; the BPO: One Reason Why Your Having a Hard b…/b http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/comment-page-1/#comment-55 Real Estate news and topics for brokers » Archive » bReal Estate Agents/b amp; the BPO: One Reason Why Your Having a Hard b…/b Mon, 16 Feb 2009 10:38:51 +0000 http://seattleshortsaleblog.com/2009/02/06/real-estate-agents-the-bpo-one-reason-why-you-cant-seem-to-close-your-short-sales/#comment-55 [...] kkim added an interesting post today on bReal Estate Agents/b amp; the BPO: One Reason Why Your Having a Hard b…/bHere’s a small readingLet me start off by saying that I love breal estate agents/b and have a profound respect for them. The purpose of sharing this video therefore is to do everything I possibly can to teach you how to enhance your success with short sale b…/b [...] [...] kkim added an interesting post today on bReal Estate Agents/b amp; the BPO: One Reason Why Your Having a Hard b…/bHere’s a small readingLet me start off by saying that I love breal estate agents/b and have a profound respect for them. The purpose of sharing this video therefore is to do everything I possibly can to teach you how to enhance your success with short sale b…/b [...]

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