All Forum Posts by: Erez Jonathan

There is a room for everybody and every business model in real estate.But from here to say that Opendoor will change the industry,  is like saying that tomorrow the sun will rise from the west.

RON  S.

I really appreciate your negative approach. However our attorney At RE/MAX was laughing when he read your comment . HHHHHAAAAAAAAA  You are a complete JOKE! 

Bill Tyler: 

I am not a fan of Zillow but What exactly you found in Homesnap.com?

I do not see the listing agent on those listings!? Where are they? Maybe I need to give it another look and maybe this time it will be there.

Zillow made this Zestimate to drive traffic into their website. They know and we know it can not be accurate. But at the same time who says that the actual asking price is the right one? All sellers are driving up the asking price. The problem with a real estate agent is to adjust to what the consumer wants not what agents want. It will be very difficult for real estate agents to be able to satisfy the consumer since that they are acting under the NAR and MLS rules. If those two associations will continue the way the act today they will be out of business within 10 -15 years. But the problem of it is once they will allow to all data to be transparent they will lose their value and will be out of business as well.

So , the solution is to let real estate agents 100% freedom to choose to where their listing to be posted and not NAR, MLS or brokers to decide. In the way today the agents have no other real alternative to post their listings.In one way MLS are feeding Zillow with listings and in the other side the MLS and its Brokers members are controlling the data. Where are the agents in this loop? Agents are the providers of those listings. Agents are paying for all this to happen. Without agents there are no listings!

There was a case in superior court of that kind.  And it was about how to not let cases proceed with a lost note affidavit. Lately the courts are asking from the banks/lenders to have the original note holder to present in court. The RoBo sign is not acceptable any more. A Copy of the note is not acceptable and it is a very good card on the table for the defense. I have a client that is in a default for 8 years and the bank can not foreclose on his two properties because of that reason not having the original note. Most of the problems is that some lenders that sold the note are also the loan servicer so the question is who is getting the money! If the lender that is also a loan servicer  has only a copy of the note just because he has a copy gives him the power to collect! ? Or maybe this lender has no legal ground to get the money from the borrower.So many questions can be asked and to get answers its time. And time passes by and the borrower is having free lunch for many years. This is happening in real life not in a movie!

Ron S.

Everything you wrote here is nothing but a bunch of nonsense! I have sold over 7 none performing notes in CA in the past 6 years and negotiated on many that I did not sell and with all of them I had the same story. Lenders CAN NOT FORECLOSE WITHOUT THE ORIGINAL NOTE! You are misleading the public! Actually I can give you a phone number of one of my clients and tell him what you wrote here. The first thing he will ask you is are you drunk! My client is not paying the Mortgage on both of his properties over 8 years now. Did you ask yourself why the bank is not foreclosing ? Well the answer is very simple pal , they do not have the original note!  Does it take 8 years to foreclose NOP! If you do not hold the original note you can not foreclose since you can not prove that borrower owns you money! Many loans were sold for a discount and many properties all over the U.S have the same problem. The only thing is for the borrower will find out and you will see the game starts. 

And FYI: please read this :The first question you might ask is why lenders even care about taxes. The reason is that unpaid property taxes are a superior lien to the rights of the lender. If a lender gets the property back through foreclosure, there are almost certainly going to be unpaid property taxes. The lender is going to have to pay. Lenders don’t feel that this is their job, and I don’t blame them.

ASK GOOGLE THEY WILL HELP YOU WITH YOUR MISTAKES! (:

I hear and see many real estate agents that are looking to explore the world. They are looking to have a portal that will respect their hard work. In the other hand consumers are looking for lots of data and transparency in the transaction. The transaction has always been without any transparency it was hidden from the eyes. So, I thought that understanding each other needs the agents and consumers should work together in a full transparency. That will create credibility to agents and that means both sides are happy. But, do real estate agents have the real freedom to be a major player in a portal that is not  licensed as a broker as Zillow is. I guess that many here will agree with me that Zillow is not the answer of our real needs. Real estate agents should be treated as professionals like in any other industry. Consumers are entitled to transparency. Where is the king`s road to this conflict how can we connect real estate agents with sellers, buyers in a much more professional way instead of games selling online leads to agents. Do we really have a fair game here or what? 

So what is your idle portal . Love to hear your thoughts.(:

Sure! (:

In my experience and I had some of those borrowers in the past 5 years.

What I found out was very interesting. The lender/bank does not have the original note! So that means it can not foreclose on the property. Once a smart borrower finds that the game starts. The borrower stops all payments to the lender and the property tax.

Once the lender files for NOD he must continue pay the property tax not to lose the property to the county. Borrower lives for free 7-10 years. And sees that he can postpone all trustee sale. Once the bank/lender are not postponing anymore and proceed with the sale at the trustee than borrower files for BK as a delay tactic. By that borrower earns more time and can negotiate with the lender/bank for any arrangement possible. The lender/bank are willing to negotiate the note since they do not have it although they can make an emotion in court and swear under penalty that the note was destroyed and can not be found but they are the original note holder and promising that no one will claim the property in years to come as the note holder other than them. That gives the lender/bank to power to foreclose on the property. But,,, lately courts are not allowing to that and asking to see the original note holder present in court.

So what the borrower has to lose? noting! 

1:Stay away from short sales they are long and unpredictable.

2:If you can purchase the note in a good discount and know what you doing with a good attorney on your side  than go for it and buy the non performing note.

3: If you are in the business to buy those types of sales, than buy the note. A 30% discount is good enough for you to really make money. 

What is the technology that real estate agents want and why?