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five star institute: After 500 BPO's - I'm Still Learning - 11/27/08 03:48 PM
I first became involved in the Default Industry just after Thanksgiving 2006, in an effort to find a way to supplement my income from home, as I was becoming more homebound in caring for a sick wife suffering with cancer.
Much of what I learned was from Asset Managers who I think were learning about this industry right along with me. Together we grew and adjusted to meet the needs of our common clients - whether they be Wall Street Investors looking to purchase a portfolio of loans or large loan servicers pricing REO listings for quick liquidation...and many other reasons … (19 comments)
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five star institute: REO – Agent Training and Marketing – Necessary Expenses - 09/21/08 05:28 PM
When a property is taken back by a lender through the foreclosure process they not only have to deal with the loss of the monthly payments for the better part of the last year – or n some cases even longer. They not only have to provide the financial resources for the legal process to take the home back. In fact the lenders losses are just starting to add up and the real money could be forthcoming.
Once the property has been secured and back “in the hands’ of the lender / owner the process begins to minimize the loss incurred. … (1 comments)
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five star institute: REO – Agent Training and Marketing –What’s the Difference? - 09/21/08 02:05 PM
There is of course a huge difference between the traditional sale of a home compared to the sale of a home that has gone through the foreclosure process and is now owned by a bank / investor.
EMOTION To sum it up in one word it would have to be emotion. That’s right the traditional homeowner who wants to sell their home is emotionally attached to it. They know of the blood, sweat and tears that went into making it the home it is today and they want to be compensated for their efforts.
The traditional real estate transaction is … (7 comments)
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five star institute: REO – Agent Training and Marketing – Who’s Who? - 09/21/08 12:30 PM
The REO Agent is the player on the front line – the one who comes in direct contact with the public and other real estate agents representing buyers of the REO properties that the listing agent has listed in the MLS and is marketing for sale. The question is who does this agent work for?
The REO Agent is just that – an agent which means he or she works for a principal. So who is the principal and what role does the REO Agent actually play in the disposition of the property.
THE OWNER
First, the reader … (2 comments)
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five star institute: REO – Agent Training and Marketing –Redemption - 09/21/08 10:52 AM
With so much information available on the Internet it is no reason that consumers are often confused on any number of topics. Well, the amount of information published about REO’s is no exception.
Nearly 40% of the States in America DO NOT provide for the defaulted home borrower to redeem their homes, once it has been foreclosed on. This means that majority of the state have some sort of redemption process. However, for everything that I write about, I always look at the situation through the eyes of a California licensed REO REALTOR®. I am not an attorney, but I … (6 comments)
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five star institute: REO – Agent Training and Marketing – The Life Cycle of a Defaulted Loan - 09/21/08 10:14 AM
To understand what a property that is owned by the bank is really all about, you must first understand the process that the real estate has gone through to end up on the lenders balance sheet as REO – or Real Estate Owned.
You see, banks are not in the business of selling real estate – as a matter of fact they are banned by federal banking regulations from engaging in the sale of real estate – banks make loans. Active performing loans are on their balance sheet as an asset while the repossessed, or foreclosed real estate show up … (7 comments)
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five star institute: REO – Agent Training and Marketing...An Overview - 09/20/08 08:05 PM
As a Real Estate professional I find it critical to a successful career path to invest in my continuing education. After all, what other professional would anyone ever want to use if they did not keep up-to-date on the latest laws, trends and acceptable ways of performing their duties?
Certainly none that I would ever want to pay money for.So, as a REALTOR® who specializes in the listing and sale of REO, or bank owned homes, in the Hemet – San Jacinto it is important that I continue my education – not only for my benefit, but so that my … (12 comments)
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John Occhi, ePRO, Temecula - Murrieta CA Real Estate, 951-443-6259
Murrieta,
CA
More about me…
Exit Twin Advantage Realty
Address: 39755 Murrieta Hot Springs Rd., Suite G-110, Murrieta, CA, 92563
Cell Phone: (951) 443-6259
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