After taking the initiative to halt foreclosures in all 50 states, Bank of America has announced they are already back to foreclosing again - even in the 23 states that require judicial foreclosure. After their shares dropped last week on the foreclosure halt announcement, they no doubt are trying to keep a "business as usual" appearance to shareholders. It had a positive reaction today. After the stock was flat lined at around $12, it jumed quickly to about $12.35 on the news. Its all about shareholder value and keeping that market cap up these days. Wrongful foreclosures, lawsuits, stomping on the little guys, eh, its just business as usual.
Sutton and Associates - Miami, FL
Hello Michael
I see on your Active Rain post that you work in the REO market.
I work with sellers representatives who have access to REO (bank owned) and NPN's (non-performing-notes) property in Florida.
They are direct to seller (NO broker chains) and able to connect you with an asset manager to provide a range of discounted properties that may suit your buyers' requirements.
If you would like to know more, please reply to normansutton1249@gmail.com with your phone number so that we can discuss.
Best regards
Norman Sutton
Sutton and Associates
Oct 18, 2010 02:33 PM
202.794.3904 - Washington, DC
Global Realtor
Not surprised to hear this, but it happened a lot quicker than I expected. Thanks for the heads up!
Oct 18, 2010 02:43 PM
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