Frequently we receive phone calls from homeowners who’s properties have been lost to foreclosure and their homes have sold back to the bank at the auction. Wells Fargo’s REO Department is no different and while there isn’t an exact time frame on how long it will take for the property to hit the market....
While processing short sales through the Equator system, once known as REOTrans around this time last year, we received a new message notice advising that they were completing the valuation part of the process. This is a relatively new in the sense that it has only been in the past month couple of months that...
Its time to finally put away those 56k modems and those fax machines. Old technology is exactly that; OLD! We ourselves couldn’t be happier but we definitely know that those agents out there that are not technically inclined are either going to give up on Bank of America Short Sales, they are either going to use a Premier...
Today while searching the web for the next million dollar idea, I again found myself stunned with all of the horror stories and difficulties that are posted online Image via Wikipedia I have been reading all over the web (ActiveRain not to be excluded) that it seems that people are finding issues and having...
Bank of America and its subsidiaries including BAC/Countrywide Legacy will be making some major changes starting November 16th. Actually as of that date they will begin to reissue new loan numbers to all its customers. That’s right! Everyone who has a loan with them, no matter what branch, will be issued new loan numbers....
REOTrans, now supposedly going by Equator (no information available on their website yet), has teamed up with BAC-Bank of America for a new short sale real time processing scheme. So far the details are scarce as we have already started working with Bank of America on this program but there is no standardization for...
The government recently reported that unemployment has hit another high from this foreclosure driven recession. The amount has topped out above 1 out of 5 people bringing the national average to 10.2 percent unemployment rate. It is going to take a lot to turn this problem around and this number does not include those...
Here at MLReport we receive messages all the time asking about what to do when they have gone through a foreclosure. We get a lot of frequently asked questions and by no mean do we have time to answer all of them in just one post but we will do our part to start...
In another strike on lenders and altogether sellers of homes obtained through foreclosure (Hard Money/Private Lenders/Note Buyers we are talking to you!) they can no longer dictated according to Assembly Bill 957 (AB957) as of October 12th what Title and Escrow company must be used in the purchasing of their REO inventory. The lenders...