Latest BPO Requirements for Short Sales - 10/20/10 12:54 PM
Short sale list agents need to protect sellers from the incompetent, lazy, and fraudulent BPO "agents". I have had BPOs inflated by as much as 120%
My listing agreement with sellers requires that any BPO agent must:
1.  Be accompanied by the listing agent when accessing the property. (I can make sure they showed up, that they are sober, and that it isn't the agents nephew)
2. Provide an up to date copy of their Errors and Omissions Insurance Policy to the seller. (So the seller's attorney will have it if needed.)
3. Provide all of their contact information and broker's contact information … (1 comments)

Am I still being foreclosed on? - 10/20/10 10:40 AM
A short sale client of mine in Port Orange, Florida has been hearing and reading the headlines about major lenders halting their foreclosures. Well, two of them GMAC and Bank of America have started the process back up again. GMAC took a respite that started 2 months ago. BofA is estimating only a few more weeks until they are up and running.
The issue was that some of the legal documents had not been processed properly and claims had not been verified. Some claim this is a "fraud against the court" and may invalidate huge numbers of foreclosures. Maybe so. But … (4 comments)