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short sale: Thinking about working the preforeclosure market as a Licensed Real Estate Agent? - 07/10/07 09:48 PM
Since I began posting on activerain I have become quite busy with emails, and calls about the preforeclosure market. Its clear that licensed agents want to gain knowledge on the subject from a practical source not from a philosophical point of view. This is great for me because it means that the buzz must be out there that the preforeclosure market is “the next best thing” in real estate. While I am thankful to the activerain network and its members for the increased business I am very surprised to find out about all the inaccurate and downright false information there is … (3 comments)

short sale: IndyMacBank: Deficiency Judgments: Short Sales - 06/15/07 05:06 PM
Let me preface this by saying that even though New Jersey allows for deficiency judgments the state statute actually frowns upon deficiency judgments. Consider the case law below. Correct me if I am wrong but the majority of mortgage companies provide for short sales it appears because they would rather cut their losses up front and they would rather be in accord with NJ's feeling on collecting deficiency judgments from a default borrower. However, some institutions like IMB seem to frown on Short Sales and it looks like they are placing deficiency judgments on default homeowners once the foreclosure proceedings are … (17 comments)

short sale: Loss Mitigator: The Ins and Outs of Short Sales & Understanding Credit Reports/ Q&A - 05/25/07 05:15 PM
My Notes: 
Topic: Understanding credit reports & The Ins and Outs of Short Sales
Speaker: Gary Nicolini; 10 years experience as a loss mitigator and real estate investor.
A. Understanding a Credit Report: A Mortgage Lenders Perspective
1. First and foremost above score and history is the applicants ability, stability, and willingness to pay.
2. Even if history shows a few 30,60,90 days late or a series of skipped credit card payments the applicant might still be ok as long as they were  consistently paying their mortgage payments
3. Subprime is not dead. Lenders still doing 80/20 with sub 660 scores.
4. … (7 comments)

short sale: New Jersey Real Estate Investors Association meeting tonight - 05/24/07 10:12 PM
Excellent meeting!
The association chairperson was friendly, knowledgable, and he facilitated networking between members.
I met an array of real estate practitioners from people in the note maket to creative financing specialists to international investors to a loss mitigator...and their was food!!!!
Networking was strongly encouraged before and after the key note speaker. Also, members with property or services for sale were given face time in front of the whole group. 
I will continue to attend meetings and functions on a regular basis.
Tonight about 40 people showed up. The key note speaker talked about short sales as a loss mitigator and an investor. I … (0 comments)

 
Lets talk: preforeclosures, foreclosures, REO's, Marketing preforeclosure clients, short sale workouts, real estate investor associations, NAR...


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