Ben's Short Sale Insights

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Real Estate Agent
RECENT BLOG POSTS
I hired a guy to do some work for me. He was scared I wasn't going to pay him. He does a lot of work for people online and a lot of them don't pay him. He kept on harassing me for payment. It's 7:30PM on Friday and I had already gone home. He texted me every 10 minutes asking for payment. It was ...
04/21/2010
We're using this new "saintly" strategy to get more pre-foreclosure listings. Now we don't just talk to pre-foreclosures about short sales. Now we give them advice on loan mods, how to stop harassing debt collector phone calls, and educate them on the foreclosure process. Here is why I came up wi...
04/16/2010
The bank turned down an offer for 220k on this house. Today it looks like an offer for 185k will be approved. Why is that? The first offer was submitted 4 months ago. The BPO came back at 265k. That caused the lender to reject the first offer. The lender closed the file. We submitted the next off...
04/15/2010
I'm going to give you a low cost strategy you can use to list more short sales today. I first started out in the pre-foreclosure business when I was still in high school. My job after school was to find pre-foreclosures who wanted to sell their home. I didn't have a clue as to what I was doing. I...
04/14/2010
We've tried out several different ways to get more short sale listings. Of course there are the usual Lis Pendens - Notice of Defaults. We've also chased down short sales that expire with another agent, used Google, Craigslist, and other methods. But, the Lion's Share of our listings come from th...
04/13/2010
I see a lot of agent's going about escalating a file the wrong way. It reminds me of the appeals process game in death row. If I am correct, more inmates die of natural causes than are executed. But, everyone has to go thru the appeals process. It drags on for years and years. After a while it si...
04/12/2010
Question from agent: "I've been working on a file with BofA. [Countrywide] first and HSBC second. HSBC responded immediately several months ago wanting $7500. BofA responded with a counteroffer a few days ago wanting $5k more from the buyer, $3k to the HOA lien, and 0, nothing for HSBC. HSBC insi...
04/09/2010
I had an agent ask me a little while ago about what to do when a lender attempts to reduce commission below 6% on a Freddie Mac file. He snatched victory from the jaws of defeat. He is getting paid 6% versus the 3% the negotiators had told him was "impossible to work around." Here is the e-mail f...
04/08/2010
Short sales will go away after house prices rise near former peak levels. That may take a long time to happen. It looks like the economy is finally starting to improve. But, when is the RE market going to follow? First off, the economy if going to improve fairly slowly. The reason is that there i...
04/07/2010
Question from an agent: "I just received a full price offer on my first short sale listing. My main concern is that my sellers don't get stuck having to pay off the deficiency. They have a first and 2nd with Chase and owe 270K on the home. The offer is $119,900, in line with other comps in the ne...
04/05/2010
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Ben Curry

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