Keith Manson's (kmanson) Blog

I just completed a sale on a REO.  The customer got a good de1al. The appraisal was over 35% higher than the purchase price.  The bank received a offer from one of my other customers 22% higher 3 months prior. IS THIS HOW A PROPERTY SHOULD BE HANDLED TO MITIGAGE LOSSES! What I do not understand i...

I have a case that I am helping someone in which Ocween Mortgage has a second mortgage of $70,000 and another servicer has the first mortgage of $130,000.  The value of the house in around $150,000.  Ocween loan interest rate is a 12%+ and they are willing to reduce the interest rate for only 3 y...

I use my past experience as a foreclosure manager and a bankruptcy manager for companies like PNC Bank,Washington Mutual and Fleet mortgage to assist home owners in default.  I do this work for Titanium Solutions who receices these assignments from major lenders.  In addition I contact other peop...

Recently I sold a Bank owned REO.  The offer was written and sent to the listing agent but the bank transfered the listing of the  property from one Realtor to another. The agent we listed the property did not know whom the bank was going to list with and said watch for the property to come back ...

Sales activity in 2008 10 less than in September 2007, which is a 19.2% reduction in sales volume in 2008 compared to 2007.  The new listings were greater 2.5% this September than last September, with a total of 123 new listings added in September. There is currently 587 Active listings on the ma...

Sales activity in 2008 was 4 less than in September 2007, which is a 20% reduction in sales volume in 2008 compared to 2007.  The new listings were 50% less this September than last September, with a total of 34 new listings added in September. There is currently 227 Active listing on the market ...

Recently I was handling a sale of house that was being sold by an estate.  The property was being sold in "as is" condition, so I ordered a Inspection report to make sure everyone who inspected the property would know exactly what condition the property was in.  When we started marketing this pro...

Recently a customer asked me to help deal with their loan because they could not afford the payment.  The interest rate was 12.375% amoritized over 30 years with a 15 year balloon.  Ocwen was offering the customer a 2% loan for 3 years and then reverting back to original terms of the note. Ocwen ...

Recently I had a Bank of America short sale. I thought it a good idea to make people aware of the process.  This property had very few showing when we were marketing.  One week before the foreclosure sale activity picked up due to some marketing strategies to increase exspoure.  One offer was rec...