I am writing on a topic I am sure many of you are familiar with, yet I have seen few agents bring up this topic on Activerain. I am not an agent, as many of you know; I run a successful business that consists of flipping properties. We purchase at the trustee sales with our team, and typically we buy properties 20-30% below market. The reason we got into this was due to all the unethical listing agents in our area. It has gotten so bad in our … (22 comments)
brokers: My Loan Officers Pre-approval letter isn't good enough for you?
- 10/08/07 09:57 AM
I sat down with an old friend today for lunch, speaking with him about the state of the market. We ended up discussing a dilemma he had last week. He submitted an offer on 2 bank owned homes from 2 separate clients with a pre qual letter. He included 1st page of Ficos, Income Proof (both loans were full documentation), and copy of deposit check. Both offers were kicked back, with the Banks Agent saying they only accepted pre approvals from direct lenders. Well both loans had low ficos, and he had to use non traditional banks to complete the loan, … (5 comments)
Unethical REO Listing Agents… Do you have them in your town?
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