short sale fraud: CA DRE Hopes To Put The Bite on Exploding Short Sale Frad
- 06/17/10 12:49 PM
Thank heaven somebody is finally stepping up. We have been deluged with short sale scams in our market since short sales replaced REO's as our primary housing alternative almost a year ago. Many Realtors are also hiring these so-called expert negotiators because they are either too lazy or too incompetent to do it themselves. These can be time consuming transactions but if you promise your customer you are going to do it - then do it. Now your license can be on the line if you hire an unlicensed person to do the job you are being paid to do. … (3 comments)
short sale fraud: Coming Up Short - A Brief Intro to the Short Sale
- 05/09/08 11:36 AM
short sales The current real estate market is producing a phenomenon we last saw over a decade ago, and hoped we wouldn’t see again, the short sale. If you weren’t around for those fun times, here’s what we’re talking about. Say you didn’t heed my advice over the past few years about avoiding exotic mortgages and you got wired into a 100% mortgage consisting of an 80% 1st mortgage and a 20% 2nd with an adjustable interest rate. Now the rate has adjusted once or twice and your income hasn’t quite kept up, leaving you a tad shy of the monthly … (2 comments)
Thank heaven somebody is finally stepping up. We have been deluged with short sale scams in our market since short sales replaced REO's as our primary housing alternative almost a year ago. Many Realtors are also hiring these so-called expert negotiators because they are either too lazy or too incompetent to do it themselves. These can be time consuming transactions but if you promise your customer you are going to do it - then do it. Now your license can be on the line if you hire an unlicensed person to do the job you are being paid to do. 
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