Banker Reo $349 scam ? legal? Read this before you pay them

By
Real Estate Agent with Co founder of 17thRealty.com of Miami Florida Lic

 This is my personal opinion.

If someone promises you business for $349 and you believed his promise, your are probably a decent person, but who will guarantee that he is.

If you make some money from every BPO, then why don't they want to take a portion of money from each BPO, that way they are always making money and if there is a lot of business they will make more than $349.

The reason is because they want fast and easy money, a decent person who needs to work and tries anything to make money to support his family would be able to pay to have a job.

 I was contacted by Banker REO to sign up for BPO and REO Assignments.

Welcome email

Dear Beatriz Garcia,

Welcome to the BankerREO agent network. Your account is now ACTIVE.

Your user-name is the email address you provided us during registration; your password is what you selected during registration as well.

He sent me 3 BPO's assignments and said he would pay me $75 each and asked me to pay $349 activation fee. How will you pay, visa?(he asked me)

I told him that I would call him back because before I make any payment, I needed to do research on his company, he replied ok ( frustrated tone)

I did research and what a surprise scam, scam, scam. Within 5 minutes he calls me back asking me to make the payment because he already sent me and assignment

I asked him ( who will pay for the BPO? ) He answer I will pay you for the BPO, then I told him, I will do the BPO'S and you don't have to pay me,

you can use that money as part of my activation fee payment.

He got mad an furious and told me that I was a  big scam and blablabla Don't you ever call me again! ( I thought to myself....I never called you ...... you are the one that called me.)

The email they used :afullman@bankerreo.com | afullman@bankerreo.com | edavis@bankerreo.com | support@bankerreo.com

Whois History: have been archived since 2011 was created this year

Entity Name BANKERREO, INC. File Number 67817826

Status ACTIVE

Entity Type CORPORATION Type of Corp DOMESTIC BCA

Incorporation Date (Domestic)06/28/2011 State ILLINOIS

gent Name INCORP SERVICES Agent Change Date 08/31/2011

Agent Street Address 901 S 2ND ST STE 201 President Name & Address

Agent City SPRINGFIELD Secretary Name & Address

Agent Zip 62704 Duration Date PERPETUAL

Annual Report Filing Date 00/00/0000.

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Re-Blogged 1 time:

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  1. Gina Tufano 11/15/2011 12:18 PM
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Anonymous
John Smith

I have worked with bankerreo llc. and received everything they have promised. Our relationship started with an initial BPO which than turned into an REO listing. Upon closing they did not take any of my commision just like they promised.

Oct 26, 2012 05:05 AM #16
Anonymous
Winnie

WOW !! Thank you for all of your remarks on this scam. They called me on 10/25/2012 and gave me the same story. He said I could get BPOs and return into listings and I fell for it and gave him/them my credit card information, copy of my real estate license, E & O insurance and their master servicing agreement. They assigned me four assets immediately and I was informed they do their billing on November 1, 2012 and credit card will be charge on that date. I happen to read all of your remarks above, immediately I called my credit company to cancelled the charge of $349.00 and get a new credit card number today. THANK YOU SO MUCH!! We must post this scam to let other real estate agents aware of this!!

Oct 26, 2012 05:26 AM #17
Anonymous
eva klivington

I WAS ALSO SCAMED  by BANKER REO. SAME KIND OF SCAM. WHY DON’T WE File A CLASS ACTION LAW Suit AGAINST THEM  Banker REO called me and told me that they have a foreclosure listing for me and would I be interested in listing a forecosure? I said yes. They said ok you need to pay $385 first. They even gave me the address of the property.  I paid them  $385 and I called them back. They said you need to do the BPO first. I  told them that was not my agreement with them, but they said we need to know the price first before we give you the foreclosure listing, so  I did the BPO and I never got the listing. I googled them on line and found out about their scam. I called them back  and asked them if they know how many compalints there are against them?  They said oh yes we have 145 compalints, so what? I think we need to do a class action law suite against them. This is a crime and I am wondering if  they give us a possible foreclosure for BPO or just give us any address so you would pay them the $385 . I just got scamed and they just got my $385, I think I will go and find out from the owner of the house if it was a real foreclosure possibility or just any  address they pick out of the hat in rive by means you can not talk to the owner. THEY ARE ALL OVER THE US SCAMMING EVERYONE.  Please call me I am ready to file with you guys.  Eva Klivington  Fairfax, VA 703 391-7450  I am boiling up over it.

 

Oct 26, 2012 06:08 AM #18
Rainmaker
2,654,164
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Today, BankerREO contacted me and asked for $349.00 upfront to assign me BPO and foreclosure listings, I searched on google and I read many negative comments about them. I did not proceed with their offer. Thanks to ActiveRain members for saving me $349.00.

Oct 30, 2012 10:25 AM #19
Anonymous
Cary Beach

Well I fell for it TWICE,  I did 2 BPO's one was listed as a short sale,  its been over 60 days I have not been paid for the bpos.  I called, and I  got that,  I needed to pay another $349 as a depoist and it would be credited back toward me on the first sale. WELL I am into it now for $700 bucks and I have called 5 times this past week and sent serveral emails with no reply.  I am now getting very concerned.

The one short sale closed so that one will not be a foreclosure I will be getting either.

Nov 26, 2012 03:28 AM #20
Anonymous
Contessa

Take them down, report to local attorney general or better to US Attorney,

every time they scam, internet fraud, every count punishable.

Jan 17, 2013 04:34 AM #21
Anonymous
Joyce Barnett

I GOT SCAMMED OUT OF $350.00 FROM THIS COMPANY AND I DID A FULL BLOWN BPO WHICH I WAS NEVER PAID FOR.  I WAS PROMISED $80.00 FOR THE BPO.   I AM GOING TO THE BANK THAT OWNS THE HOME THAT I DID THE BPO ON AND I AM GOING TO REPORT THIS COMPANY TO THEM.  DO NOT JOIN THERE SERVICE THEY ARE RIPP OFF ARTISTS PRAYING ON REAL ESTATE AGENTS CREDIT CARDS.  THEY PROMISE YOU AN REO LISTING AND NEVER DELIVER.  THEY ARE LIARS.  I AM GOING TO TRY AND REPORT THEM TO THE FBI FOR INTERNET FRAUD.  THEY NOW HAVE NO WEBSITE AND THE PHONE NUMBER I HAVE IS 847-454-7885 THAT LEADS TO NOWHERE.  THEY SHOUD BE PUT BEHIND BARS THEY ARE CON ARTISTS.  I HAVE ALSO READ THEY HAVE DONE THIS TO 1000'S OF REAL ESTATE AGENTS.  WHAT STOPS THEM FROM CHANGING THERE NAME AND REAPPROACHING AGENTS.  I WILL NOT PAY ANY REO OR ASSET MANAGEMENT COMPANIES ANYMORE.  BECAUSE THIS COMPANY BANKERREO IS A SCAM AND THEY WILL TAKE ON MANY IDENTITIES WHATCH OUT FOR THEM THEY ARE LIKE A CAMILION AND SO TRUST NOBODY FROM THE REO BUSINESS THAT WANTS YOUR CREDIT CARD IT HAS BECOME A MONEYMAKER AND THEY ARE PRAYING ON REAL ESTATE AGENTS WALLETS.  THE SCAMERS NAME WAS MARK CARNEGIE WHO WAS THE REPRESENTATIVE THAT SCAMMED ME.

Feb 22, 2013 06:52 AM #22
Rainer
123,415
Mike Linkenauger
Jacksonville, FL
Short Sale Specialist Network

AGENTS BEWARE! Banker REO may be at it again, this time as Footprints RE.  Check out this short YouTube video showing undeniable evidence that the two companies are one in the same.  Get the word out about this!  Get this video viral - http://youtu.be/X4ePU5GaVnQ

Here is also a link to a discussion about this with MUCH more evidence of this sad reality -http://reopro.ning.com/forum/topics/footprintsre-llc

And also, here is a LinkedIn Group I just found titled Banker REO Fraud that is attempting to expose this ongoing scam and bring these people to justice.  Join their fight - http://www.linkedin.com/groups/BankerREO-FRAUD-4535629

 

 

Feb 26, 2013 11:23 PM #23
Anonymous
Craig Kudrle

Well, even after 20+ years doing REO's, I also got scammed by Mark Carnegie of BankerREO. I hesitated to sign up & got caught in one of those moments where the picture he painted sounded real. The property was around the corner & a high-priced property for my market area so the numbers looked very promising & I likely had a buyer myself, as well. I blinked & fell off the turnip truck...:-). I did the bpo without worrying about the bpo fee & paid the $349 with a credit card. I kept monitoring the foreclosure process of this property for a couple of months & then didn't bother being busy doing other things. In the back of my mind, I kept thinking I had a guarantee, in writing, which Mark did email me as a condition of doing business & paying their fee or a refund of my $349.00. Well, the guarantee wasn't worth the paper it is written on & I should have known that & be a smarter business person and/or consumer than I was at that moment. Kudo's to all out there who held off & didn't get burnt. Yes, we in our industry are probably more "trusting" than most others as it's the nature of our business as other entrust so much to us to protect them..... Think about that irony for awhile. Aren't those in the "sales" industry the easiest marks for other sales people to take advantage of..??? I guess risking $349 wasn't the worst decision I will ever make financially BUT getting taken by SCAMMERS really boils my blood. "Be on your guard & seek council"...:-)  Best advise I know!

Mar 12, 2013 05:16 AM #24
Anonymous
H Nick

Thanks for posting this.  I've received several similar emails for other companies as well. I just received one this week from footprintsre.com  they charge:

$100 for ebook and certification quiz. $200 for assignment fee

not going to do it.  

 

Thanks again.

May 10, 2013 12:37 AM #25
Anonymous
Scott Michaels
I was just contacted by Jason from FootPrint REO INC. offering for a fee, to get assigned BPO's and when the bank releases the property you will receive the listing in that zip code. Apparently after reading all of the above I;m glad I didn't leap before I looked. I suggest when doing any kind of business with anyone, especially Real Estate you should google them. Also another great service you can sign up for is called Been Verified. You can get all kinds of information on company's and people including things that they did years ago. Thanks for taking the time to post, it helps all of us from being scammed. Scott
Dec 12, 2013 02:15 AM #26
Rainer
11,272
Misty King
AmeriMade Realty - Bryan, OH

I was also scammed by BankerREO and have made several attempts to get my initial $350 back due to them breeching their contract with me.  I have the email addresses of approximately 8 different people from BankerREO (interestingly enough none of the emails I send get returned as not being an accurate address... so maybe someone is reading them)... but not one person is responding to my emails.  I can't imagine the thousands of dollars they've swindled out of us... 

I would be interested in starting a class action lawsuit if anyone is interested.  I have copies of emails between myself and representatives of BankerREO dating back to August of 2011.  Some of those emails contain person guarantees made by the BankerREO reps.  I also have a copy of the contract they sent me which guaranteed me a listing within 12 months or my money back. 

If anyone is interested in joining forces with me to discuss a lawsuit, please don't hesitate to contact me through AR. 

Dec 31, 2013 02:08 AM #27
Anonymous
Zohar Zamir
This situation is exactly what happened to me. An individual from REO Pro Corp contacted me asking me if I was interested in doing BPOs. I paid an up front fee, charged to my credit, with the assumption that if I "did good work" I would get the listing. I submitted a BPO for one of the three properties they gave me, and than after searching for information for the second property, I realized it was already active on the MLS. That was a week ago. I have since disputed it with my credit card company and have e-mailed and called REO Pro Corp numerous times to get an answer and haven't heard back. I can't imagine a good reason why they haven't called me back except this being a scam.
Mar 20, 2014 05:58 AM #28
Rainmaker
442,149
Bill Dean
Haggerty Team St. Louis, Mo. - Fenton, MO
William Dean - Broker, Salesperson

As Zohar in comment 28 pointed out, reo pro corp, is the newest incarnation of these crooks.  They called me 2 days ago and when I hestitated to give them $400 they gave me 2 addresses to go to an occupancy check for them.  I checked the MLS and one of the homes had been listed 6 days ago by an agent I knew.  Run from these liars!

Apr 11, 2014 05:01 AM #29
Anonymous
Rob Stevenson
Just hung up with an agent from Reo Pro. Wanted $400 to get my first two assignments. Then $300 every six months. He went on to state this is a test period so they can see how well I do. They have two properties that need exterior shots and an occupency status. He stated they were a full sub servicer that would handle all repairs, maintanance and costs to handle the asset. Also stated my $400 went to help offset the repairs made that they were not reinbursed on. Scam!!!!! I have worked reos for over 15 years. I have worked for all the major companies. These guys are a fraud. DONT GIVE MONEY TO THESE GUYS.
May 01, 2014 03:16 AM #30
Anonymous
Rick Carnigger

THEY JUST CALLED ME!!! I TOLD THEM MY TIME WAS TOO PRECIOUS AND I DO NOT START MY CAR FOR LESS THEN $95!!!! THERE NAME IS NEVADAREO!

Jun 26, 2014 11:46 PM #31
Rainmaker
10,680
Kenny Raymond
Berkshire Hathaway Homeservices Florida Realty - Miami Beach, FL
The Raymond International Group

REO Pro supposed asset manager  just tried to get me to pay them $400.00, I told them to send me their info they guarantee you 2 listings or money back but  you know that will never happen.  He said he was not a salesperson just an asset manager looking to get someone to help him on Miami Beach.  He then gave me an address of a property that has been in foreclosure with Regions Bank since 2010 for 10 million.  Total BS 

Sep 10, 2014 05:22 AM #32
Rainer
2,525
Carol Baker - Broker
Mount Prospect, IL
RE/MAX Suburban, 40Yrs-Emeritus, CDPE,SFR,SRES,CRS

I have received several calls from a:  Isreal Godson, Asset Manager with ICBA Independent Community Bankers of America who promises Forclosure listings if I pay $400. as a start up fee, then I can keep all listing commission,

Phone #:  1-302-504-6693 or 1-302-570-OREO  Does anyone know if this is a Scam????  Help!

Nov 13, 2014 11:33 AM #33
Rainmaker
297,958
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

So many scams so little time.  Be careful of anyone that wants to sell you exclusive rights to zip codes, front page of ____ search engine, BPO's, etc.  Keep in mind that last year, there were 4x as many real estate leads SOLD than there were listings.

Jun 09, 2015 06:39 AM #34
Rainer
3,706
Jim Walker
1st American Realty - Carmichael, CA
Realtor

Last week a man named Mike Fitzgerald called me from Phase2RE.com phone #414-436-8444.  The website lists the address as 250 E. Wisconsin Ave. Suite 1800 Milwaukee, Wi 53202.  and a contact phone of 414-858-8273. Very convincing pitch. Mike gave me two addresses that needed BPO's with occupancy checks. -  He explained Phase2RE.com business: 1. They provide BPO and asset management to lender clients. 2. Based in Milwaukee, Wisconsin. 3. They do not pay for BPOs from the assigned listing agent, but will pay for a secondary opinion BPO from someone who will not be the listing agent. 4. They provide The BPO online software, then negotiate after foreclosure with occupants for cash for keys, turn on utilities when indicated, provide clean out services, rekeying, repair services when indicated. 5. Because the REO listing agent does not have to perform services described in #4 above a deposit of $250 per listing is paid by the listing agent. 6. Deposit is refunded at end of listing, whether sold, withdrawn or expired.  The explanation of the need for the deposit, is that since Phase2RE.com takes on all the expenses and work described in #4, it helps to offset their capital outlay for those expenses while they wait for reimbursement from the lender client. 

 

It all made great sense. There was no pressure to make the deposit early, one week turnaround was given for the BPO. The conversation was more about the need to know the value and the occupancy,   The BPO software and website seems professional enough. 

 

I did the BPOs.  Both properties had gone to notice of default within the last couple of weeks. In California, it takes at least 111 days from NOD to auction on the courthouse steps. After the BPOs were submitted,  Mike called me up and said that the BPOs looked good and the next step was the deposit. I mentioned that I figured that the properties could not be REO listings until next year at the earliest and that I assumed that I would pay the deposit about the time that I got the listing agreement and keys.  He said he would check with his higher ups about that.  He tried to call me last night, but it was dinner time so I missed the call. I can find nothing online about Phase2RE.com except the website itself and and the Alexa page ranking.

 

So. It could, in concept, be a legit business model. However, a company that is running a scam, could easily set up a very nice, professional appearing website for a few hundred dollars. - and "earn" it all back with a single successful con. If  Phase2RE.com is legit or not, I'll come back and post after my next conversation with Mike Fitzgerald.  

 

Just in case he is a fraud, I will not blow him off immediately. With 90 days to go before these homes are foreclosable, I can string him along with a promise to pay the deposit, at  a time closer to the time when these could actually become listings, while we find a law enforcement agency that wants to actually bust a scam.

 

Nov 04, 2015 05:01 AM #35
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Rainmaker
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Betty Garcia Doral-Miami Realtor® (786) 229-3636

Miami-Doral-Kendall- Coral Gables(786) 229-3636
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