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Please be careful in finding someone to do a "Short Sale" for you.

By
Real Estate Broker/Owner with NoVa Brokers LLC 0225 094634 VA/ 643686 MD

I found out yesterday that a friend's sister went through a company on the internet to perform a short sale and requested $1000 from her.  She paid it instead of her mortgage (she was already 3 months past due).  Well guess what happened next???? NOTHING.  Her home was foreclosed on and she did not know until the bank came knocking on her door.  This company stated that they stopped the foreclosure and was pursuing a short sale with a buyer (after the bank came knocking on the door).  Hmmmm, I thought that this was very strange. Now that bank owns the home and they have to move immediately.  Please educate people that you care about, to check out companies on the internet.  They have to be checked out first before sending money.  I find this unusual because the company that she sent the check too was in California and her home was in Virginia.  

 

 

 

 

 

 

http://www.stellabarbour.com/default.asp

Posted by

FOR ALL YOUR REAL ESTATE NEEDS

 

STELLA BARBOUR

NoVa Brokers LLC

1483 Chain Bridge Road Suite 103

McLean, Virginia 22101

571-814-3002 OFFICE

703-999-6104 CELL

571-281-2866 FAX

www.novabrokersllc.com

stellabarbour@yahoo.com

Licensed in Virginia & Maryland

 http://www.novabrokersllc.com/

 

 

 

Comments (25)

Dale Campbell
Virginia Real Estate - Mechanicsville, VA
Since I entered the real estate business, I have found more unscrupulous individuals than I ever thought existed.  It is realy ridiculous.
Dec 21, 2007 12:11 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Dale - Thanks for commenting.  I have found the same thing here. 
Dec 21, 2007 01:46 AM
Jen Hudson
Windermere Real Estate/M2, LLC - Stanwood, WA
Stanwood, Camano & Arlington, WA
Thanks Stella.  There seems to be a scam around every corner if something thinks they can make a buck.  Thanks for bringing this up, it's certainly something else to watch out for.
Dec 24, 2007 06:27 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Jen- Thanks for visiting and commenting.  There is always a new scam.
Dec 26, 2007 01:19 AM
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor

Stella,

Lots of internet crooks out there. Lots of scamming going on also.

Dec 26, 2007 01:24 AM
The All Pro Team
EXIT Realty Leaders - Crystal River, FL

Stella, Thanks for your post.  I agree that you really need to make sure you are with a great company.  I have found that most banks require you to list with a local Realtor to do a short sale.  The sellers best bet is to find an agent in there area that has experience with short sales since there is a lot to doing one.  This is not the time to give the Rookie a shot at learning the business.

Melonie Haag

Dec 26, 2007 01:30 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Mike - Tons of internet crooks.  It is sad.  Thanks for commenting.

 

Melonie - I have found that a local Realtor is the best bet also and one with experience.  Thanks for commening.

Dec 26, 2007 02:24 AM
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS
Scary stuff - I know of several friends going through the foreclosure process, and they haven't encountered anything like this, BUT, most of the time people are so scared, and humiliated, they would rather deal with a stranger, as it's easier to tell a stranger some things. Thanks for posting.
Dec 26, 2007 11:55 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Carol - I never thought about that but it makes perfect sense.  No one would know their problesm. 

Dec 27, 2007 04:03 AM
Patrick Canavan
Keller Williams Realty - Yorba Linda, CA
Orange County Real Estate Voice

Hi Stella,

I have seen these companies before who have no idea what they are doing plus some don't do anything.  If an agent has never done a short sale, they should pass it on to an agent in their office who has but never send it to an outside company.  Thanks for the warning.

Dec 27, 2007 05:35 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Patrick - Thanks for commenting   I understand where you are coming from.
Dec 27, 2007 12:10 PM
Anonymous
Ben Benita

NOT necessarily sticking up for the short sale company, BUT, I had something similar happen to me.  We had been working on a short sale for approx. 2 months with Indy Mac (they are NUTS and now charge $300 just to review short sales).  I was out of town and got a call from my client saying the home went to foreclosure auction.  IMPOSSIBLE I told them b/c Indy Mac had a contract and full packet in hand, just waiting for acceptance from the "bosses".  To my AMAZEMENT, the home DID GO TO AUCTION EVEN THOUGH WE WERE WORKING THE SHORT SALE!!! What ended up happening:  I spoke to the RIGHT person, the decision maker, got the foreclosure auction RESCINDED, and we are expected to close on the deal in early January.  Was told by the VP I spoke with that Indy Mac, like MANY other lenders, had just hired a new group of persons in loss mitigation and that our case had "fallen through the cracks" (I even had a girl in Loss Mitigation earlier this month tell me she did not know what a BPO was, YIKES!!!)

Anyway, point being, there ARE many scammers out there, do your homework, BEST to work with someone local, who has done seminars to investor groups, is affiliated with NVAR, and who frequents investor circles to keep abreast of what is happening (just like we do, I know, a cheap and shameless plug, for our company, Ohana Home Savers.)  I wish everyone all the best.  Ben Benita, 540-347-4476 - -Office, BBenita@comcast.net

Dec 27, 2007 05:37 PM
#17
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Ben - Thanks for your comment.  Sometimes the banks are disorganized but there are companies that charge money and do nothing at all. 
Dec 28, 2007 12:08 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Jamie - She did not ask me.  She was trying not to let everyone know her problems.  I would have done it for her or I would have given her other options.
Dec 28, 2007 12:59 PM
Trey Thurmond
BCR Realtors - College Station, TX
College Station , Texas Homes
There are crooks in all sectors of business. We have to fight hard to keep them out of ours!
Dec 28, 2007 01:02 PM
Anonymous
Anonymous

Stella,

That is so sad ..... if people would turn to the ones they can trust for information .... it could spare the consequences of trusting strangers.

Jamie

Dec 28, 2007 01:20 PM
#22
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Trey - You are right about that.  Thanks for commenting.

 

Jamie - I know what you mean.  People are ashamed of their errors and try to hide them when they could get them resolved with people that care about them. 

Dec 29, 2007 01:14 AM
George Panoff, Your Buyer of Distressed Properties in MD
DBA GR Enterprise - Baltimore, MD

Can they press the legal charges against this company? I hoped they got something in writing from them.

 

Dec 31, 2007 08:05 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
George - Yes, I think so.  They reported the company. 
Dec 31, 2007 09:17 AM
Ben Benita
Ben Benita - Gainesville, VA
Speaker, Author, Game Changer, Coach

WAAAAY too many things to get into on this blog:

1)  Most Sellers are "ashamed" or "embarassed" about their situation....take this one, as Stella noted, her own sister did not confide in her.

2)  Short sale negoiation companies - as with anything, Buyer beware.  I run a successful nationwide negotiations company (based here in VIrginia), and, continue to do my best to show we are "above board".  I have written a book on short sale negotiations, been on the radio, and, recently got a short sale negotiations course approved for CE creditsin 3 states......why bother with all this - CREDIBILITY!!!!

I also have now partnered with an attorney group to assist in our nationwide short sale and foreclosure efforts.

Again guys, ALWAY ALWAY ALWAYS do your homework.....I feel terrible about what happened to your sisiter, and, will contact you off here to discuss, BUT, I would STRONGLY urge her to file complaints against this company with:

Virginia Attorney General:

Ken Cuccinelli in Virginia attorney general
senator@cuccinelli.org

Office of the Attorney General
900 East Main Street
Richmond, VA 23219
(804) 786-2071
Toll free in Virginia only:
1-800-451-1525

TO find the attorney general in YOUR state, go to -- www.naag.org

The Virginia Congressman's office:

va11gcima@mail.house.gov

202-225-1492
Woodbridge, Prince William County- 703-670-4989
Annandale, Fairfax County- 703-256-3071

and The FTC for starters:

http://www.ftc.gov/ftc/cmplanding.shtm

https://www.ftccomplaintassistant.gov/

MEDIA CONTACT:
Office of Public Affairs
202-326-2180

STAFF CONTACT:
Laura Sullivan or Evan Zullow
Bureau of Consumer Protection
202-326-3224

If it were me, I would go AFTER THESE IDIOTS BIG TIME so they do not get others......I would even post the name of the company on here.....call them out BEFOER THEY TAKE ADVANTAGE OF ANYONE ELSE!!!!

All my best to everyone on the short sale battlefields!!!

Ben Benita

BBenita@Comcast.net

 

 

Oct 01, 2011 02:49 AM