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Core Capital REOs
Has anyone worked with Core Capital (located in Casper, Wyo.) to help liquidate their REO inventory?
#2 All Forums Contributor
- Investor
- Virginia
@Karen H Sothoron
No. We typically use a company called lres who just changed their name - we have enjoyed working with them
I got a call from them today seemed strange upfront fee with no listing agreement
I called some bank contacts to see if Core is real.
Quote from @Dario Martinez:
I got a call from them today seemed strange upfront fee with no listing agreement
I called some bank contacts to see if Core is real.
so what was the end result after you called the banks??
Quote from @Amorette Arceneaux:
Quote from @Dario Martinez:
I got a call from them today seemed strange upfront fee with no listing agreement
I called some bank contacts to see if Core is real.so what was the end result after you called the banks??
Not real
Quote from @Dario Martinez:Hi,
I got a call from them today seemed strange upfront fee with no listing agreement
I called some bank contacts to see if Core is real.
What did you find out? I received the same call
Quote from @Dario Martinez:
Quote from @Amorette Arceneaux:
Quote from @Dario Martinez:
I got a call from them today seemed strange upfront fee with no listing agreement
I called some bank contacts to see if Core is real.so what was the end result after you called the banks??
Not real
How did you find out they are not real?
Contacts at bank said never heard of them and my REO Cert trainer said they where not real
I know of two other agents paid fee and have not been given listing as promised with fee
Interesting, thanks for the update! It looks like they may be new or have a really intricate setup if it is a scam for agents. Not sure yet.
I took the first property and paid last month. Today they sent over the listing agreement, but won't have interior access until the 26th of this month.
I will keep this page posted to see what comes of it,
Is the listing from the default company or Core?
Quote from @Dario Martinez:It came from core directly as the “seller” or in interest/acting agent for “seller”. They claim to work with several banks, investors etc. their website platform and BPO appears legit.
Is the listing from the default company or Core?
Good luck hope it works out for you
We did a couple of BPOs for Core Capital and paid our first $600 June 21st. We signed our first listing agreement 8/5/24 and the property is supposedly going to be vacant by 8/26/24 (same as Erin is saying. We were assigned 5 other properties (2 of the them we have paid the $600) and the other 3 are pending charges but today we started getting red flags. I asked Core if we are supposed to offer cash for keys and he said they use Safeguard for some of this. When I called Safeguard today (8/13/24) they do not have that property in their system nor have they heard of Core Capital. They are escalating it to management and will hopefully call me back.
I went to the first property and asked if the owner had been offered cash for keys or had been contacted in any way and she had not. She served papers by a processor 9/30/23 and had gotten a lawyer, gotten paid up and was currently paying a collection agency called diko? dyko? I'm still looking into that part.
Any way you look at this, something seems to be wrong. I will update this thread when I know more.
Quote from @Chris Adolfi:
We did a couple of BPOs for Core Capital and paid our first $600 June 21st. We signed our first listing agreement 8/5/24 and the property is supposedly going to be vacant by 8/26/24 (same as Erin is saying. We were assigned 5 other properties (2 of the them we have paid the $600) and the other 3 are pending charges but today we started getting red flags. I asked Core if we are supposed to offer cash for keys and he said they use Safeguard for some of this. When I called Safeguard today (8/13/24) they do not have that property in their system nor have they heard of Core Capital. They are escalating it to management and will hopefully call me back.
I went to the first property and asked if the owner had been offered cash for keys or had been contacted in any way and she had not. She served papers by a processor 9/30/23 and had gotten a lawyer, gotten paid up and was currently paying a collection agency called diko? dyko? I'm still looking into that part.
Any way you look at this, something seems to be wrong. I will update this thread when I know more.
Thanks for the update, I went back to the property that I have a listing agreement for and it appears to have been rekeyed by Safeguard. There was a legal notice taped to the front door and I have reached out to the attorney listed to confirm that Core Capital REO has the ability to assign listing agreements on behalf of the bank. Its possible the bulk sale will happen on the 26th and that is when they will provide more information, or it is possible that you can no longer call the credit card company to deny the charges at that point, still unsure.
That's another thing.... there IS no signatures on the listing agreements except ours which would seem then it is not even a valid contract. There are also no loan numbers.
Today we talked to the owner of another of the properties she also has not been contacted by anyone at all over the last several months. I have until Sept 18 to dispute the charges so for now we are doing more investigation, but I'm still highly skeptical at this point. I'll update again.
My broker has been approached by them as well, and it sounds like the exact same thing. Who reached out? Was his name eric anderson?
Quote from @Chris Adolfi:
That's another thing.... there IS no signatures on the listing agreements except ours which would seem then it is not even a valid contract. There are also no loan numbers.
Today we talked to the owner of another of the properties she also has not been contacted by anyone at all over the last several months. I have until Sept 18 to dispute the charges so for now we are doing more investigation, but I'm still highly skeptical at this point. I'll update again.
What did you end up finding out from the attorney?
Quote from @Amber Morfitt:
My broker has been approached by them as well, and it sounds like the exact same thing. Who reached out? Was his name eric anderson?
Yes
This is a scam. We disputed the charges yesterday. Money has been returned to our CC but we have not heard from them yet today.
I have not heard back from the attorney yet on the first property, On the 3 new properties, I did not give payment but he still assigned them to me in my queue. Eric Anderson requested BPO's, I did not complete them. If it was a legitimate company they would have reached out to tell me I was late however I have not heard from them again.
I called my CC company and they cancelled the 1 payment of $600, I also filed a claim with FTC and www.ic3.gov . They recommend anyone else that this has happened to also file a complaint and they will investigate.
Thanks for the info, Erin. I have asked my bank to challenge the payment. Still waiting for word back on that yet. Back when I was doing tons of REOs, I was the one paying for the utilities and yard/house maintenance. And then I would be reimbursed. If Core Capital is a legit company they should adopt that model.
Quote from @Karen H Sothoron:
Thanks for the info, Erin. I have asked my bank to challenge the payment. Still waiting for word back on that yet. Back when I was doing tons of REOs, I was the one paying for the utilities and yard/house maintenance. And then I would be reimbursed. If Core Capital is a legit company they should adopt that model.
Yes! I agree! I think that is why I found the deposit so appealing because they would handle all of the above, seemed like a better way for REO agents. Initially Eric had said this was a 1 time fee for ALL properties, so when he called me back with 3 more properties and wanted to charge me for each one, that is where I questioned him. Still have not heard back from attorney or Eric Anderson since
Quote from @Erin Covey:
Interesting, thanks for the update! It looks like they may be new or have a really intricate setup if it is a scam for agents. Not sure yet.
I took the first property and paid last month. Today they sent over the listing agreement, but won't have interior access until the 26th of this month.
I will keep this page posted to see what comes of it,
I'm following up on your post, are you getting access today on this listing?
Hi,
I accepted an assignment with them, Eric Anderson & Sean Harper, in June. Similar experience. 2 weeks ago I was told by Sean that the property would be vacant and rekeyed on September 3rd. I didn't have to do cash for keys, they would do it( sounded great). Last week I found these comments in bigger pockets when things started sounding really suspicious. I have worked on hundreds of REOs and have done a few for smaller reputable groups that heard my name because of my reputation. So it didn't seem too crazy when they called. Their website is a little wonky, it doesn't seem to save all my info all the time and their bpo form is the shortest one I have ever done. I just had Stewart title ( my favorite escrow company) do some research on 5 addresses. I did not pay for more than one, the others were in a email from Eric on Saturday asking if I wanted them assigned to me. I said not at this time, and he said no problem. So the one I was assigned and said I would get access on 9/3 has no NOTS ( notice of trustee sales). Concerning! 2 of the addresses do have trustee sales in October & November this year. The other ones don't have any NOTS either. I want to know if anyone has actually listed one of their properties and sold one. It doesn't sound like it. Although seems like a pretty elaborate scam.
Jennie,
Same experience with me. They also took $3,000 from my account yesterday without authorization. I've been digging all day and discovered that their office address is a virtual location where they just receive mail there. The receptionist was kind enough to give me the phone number they have on file which is for Bizee, IncFile.com. Looks like a company they hire to register their LLC. I've emailed and called both Eric Anderson and Sean Harper multiple times today and no response. I've also reached out to the Casper PD who advised to first file a report with my local PD then they would contact them. I've filed a dispute with my bank as well and reported them to FTC and ic3.gov. I would suggest everyone one of us who has been scammed file a police report.
I'm willing to speak to anyone privately as well.
Quote from @Jennie James:
Hi,
I accepted an assignment with them, Eric Anderson & Sean Harper, in June. Similar experience. 2 weeks ago I was told by Sean that the property would be vacant and rekeyed on September 3rd. I didn't have to do cash for keys, they would do it( sounded great). Last week I found these comments in bigger pockets when things started sounding really suspicious. I have worked on hundreds of REOs and have done a few for smaller reputable groups that heard my name because of my reputation. So it didn't seem too crazy when they called. Their website is a little wonky, it doesn't seem to save all my info all the time and their bpo form is the shortest one I have ever done. I just had Stewart title ( my favorite escrow company) do some research on 5 addresses. I did not pay for more than one, the others were in a email from Eric on Saturday asking if I wanted them assigned to me. I said not at this time, and he said no problem. So the one I was assigned and said I would get access on 9/3 has no NOTS ( notice of trustee sales). Concerning! 2 of the addresses do have trustee sales in October & November this year. The other ones don't have any NOTS either. I want to know if anyone has actually listed one of their properties and sold one. It doesn't sound like it. Although seems like a pretty elaborate scam.
It’s a scam
cancel ur cards don’t pay run as far from Eric as u can