This is a typical bank form that all parties are required to sign in order to close a short sale: BofA short-sale addendum-broker cert The form requires that the deal is an arm's length transaction - and now we have some enforcement, at least in Nevada: A Henderson...
SAN DIEGO - Mark Ramirez said he hired the Georggin Law Firm to help repair his credit after he sold his home through a short sale. "It was my first home. So you know I did work hard for that and unfortunately I lost it and I trusted these individuals to help me out...
The C.A.R. published more information on pocket listings, summarized here: http://www.mercurynews.com/saratoga/ci_23531360/realtors-share-info-off-mls-listings The real problem isn't getting addressed. The "pocket" realtors usually don't tell the sellers they are...
The state association of realtors (C.A.R.) attempts to address the pocket-listing issue in its latest edition of California Real Estate magazine: http://www.onlinedigitalpubs.com/publication/?i=163273 They describe how agents think that pocket listings are OK, as long...
The number of completed short sales has dropped this year, and the agents who specialized in them are scrambling around trying to figure out how to be regular realtors. Hopefully the short-sale business will conclude when the debt-tax exemption expires again on...
This is the second time someone has taken my photos and placed rental ads hoping to dupe tenant prospects into sending $1,000 by FedEx with the promise of sending keys later.
These are the short-sale scams mentioned in yesterday's comments that deserve their own post as a resource for people to use to protect themselves. If you have seen other tricks, include them in the comments so we stay aware! The most common packages: 1. The listing...
This is a big one......watch out! REDDING, Calif. -- A man accused of cheating North Coast residents out of hundreds of millions of dollars in what prosecutors characterized as one of the largest real estate Ponzi schemes in California history has been convicted by a...
Most mortgage fraud takes place in the short sales and REO space, according to Rob Hagberg, associate director of fraud investigations at Freddie Mac. “This area is ripe with fraud,” he said during a webinar hosted by CoreLogic. While servicers and others in the...
The California Association of Realtors addressed the 'pocket listings' topic. It took them an hour to boil it down to this - the listing agent is bound by California law to properly explain the benefits of exposing the property on the MLS, and how it is in the...
