All Forum Posts by: Dustin Johns

Thanks Rob. Sweet website!!

I'm an REO agent representing many banks and doing very well. I am not very experienced with short sale listings though. Just read an article about REO being dead and short sales are where it's at. My experience with short sales have not closed easily or at all.

Question for other REO agents;

Are you going after short sale listings, and am I missing out by not?

What is your experience with short sale listings?

What are thoughts on the impact of this New York Judge's ruling last week? MERS lacks right to act as an agent of the mortgage company. I'm surprised how little coverage this is getting.

"Merscorp Inc., operator of the electronic-registration system that contains about half of all U.S. home mortgages, has no right to transfer the mortgages under its membership rules, a judge said.

U.S. Bankruptcy Judge Robert E. Grossman in Central Islip, New York, in a decision he said he knew would have a “significant impact,†wrote that the membership rules of the company’s Mortgage Electronic Registration Systems, or MERS, don’t make it an agent of the banks that own the mortgages." from Bloomberg

I would like to know where the absentee list is available as well?

I Meant Quit Claim......

I have been asked to liquidate a list of tax deed properties by a firm that specializes in bidding at the tax sales. They are left with a few properties that did not redeem. Some of them are actually decent.

? is, The transfers will all be done using a quick claim deed. Am I passing along a potential problem to the buyers? I have been told that certain title companies can remove any cloud from the title for 2-3k in 2-3 months. Should this take place before I begin marketing the properties?

I am looking for a source of marketing information and example letters to review. Any ideas. Now that I have tons of leads I'm ready to begin marketing but so far dont have a very effective letter.

Instead of purchasing a program from one of the gurus I thought its worth a shot to ask my fellow BP members. Thanks in Advance for any help/feedback.....

Havent gotten that far with it Maui. I am mainly seeking education on effective marketing topics.

Another question I have; I am paying an abstractor to research the files for me $15/hour. She is much more efficient than I am and it eliminates the learning curve. Does anybody have a better way?

I've come a long way as far as understanding the process. What I dont know is the marketing side.

How soon/frequent do you send letters and make contact with the personal rep's? Most seem to have an 8 month creditor advertising period. At least in my state.

I appreciate all of your feedback......

Thats okay. The property was listed for more than the mortgage amount before the foreclosure and my buyer is willing to pay that much. I am wondering if i should just keep checking HUD and MLS or if there is a way to get to it before that?