All Forum Posts by: Jonathan Katz

I'd have to say that I have seen some good results from pay sites in regards to the freshness of the material. If you don't care how fresh they are call your local title company and ask them for a list in the areas that interest you. If you need on I can sent a great one your way. They help you as they hope that you use them as your title insurance company for the transactions. It's a win win.

What the other guy said also works.

As paying people for leads is an offense that can get someone disbarred is there any knowledge that you have as to it being illegal for a bankruptcy preparer governed by different laws to pay out referral fees. I'm not sure if I have seen that one. Let me know if you can find something. Look forward to your response.

Regards,

From reading this the main idea that comes to mind is you needed to contact the lender and make sure that they are doing what they are supposed to. ]]

We follow up almost daily on some of our account and we had a file that was sitting, that's right, sitting on someones desk. We kept calling and they kept stalling. Said they needed, this, that and the other think and everything was provided directly upon request. We still got to the sale date. If you do not speak to the right people the home your working on could go to sale. We were able to stop ours last minute but it is really important to stay on top of the bank.

Best wishes,

We apologize for not responding to this previously. We have seen in play many times that homeowners have been awarded money in suits due to personal heirlooms that were lost because the home was foreclosed on and the personal items we stolen/destroyed/damaged/etc. The foreclosure only gives the bank possession of the home and not the items inside the home. If the items in the home, which have nothing to do with "liens" as mentioned above, are not secured the bank may find themselves in a stick situation. Property management department of every company deals with this on the side of REO properties. Every cases is different and everyone who reads this must understand that no case is typical.

Regards,

We'd like to throw our hat in the ring as we directly deal with these programs in bulk. We cover the entire gambit of programs including short sale and filing BK's. It is possible that we could work out a program to assist you with your flow of clientèle. Our counselors have dealt with as many as 600 cases (each) a month and have experience working internally for one of the largest lenders in the US. If the offer is still open we can discuss this in further detail. Feel free to reach us.

As to being illegal to sell leads. It is not at all Illegal. BUT, (that is a big but :D) it is unethical for the attorneys to pay you. In fact they can be fined are or disbarred. Now with that said there is no law against it for your sake. It also does not mean that this is not a very common practice. With that said we are BK preparers and have no issue setting up a relationship that may be mutually beneficial.

Depending on how the short sale works out there also may be a way to put money back in your pocket for all the leads that you are finding yourself with. Upfront and maybe at closing as well. Look forward to speaking with you.

Regards,

Legally speaking the lender who foreclosed should come in to the property and clear out the belongings and put them into storage. It depends on state law but in most cases they need to keep the items in storage for ~4 years.

Best of luck.

Regards,

I wish I had a cape covered goverment official [paste picture here] wearing their underwear on the outside of their pants (not too different from many in the house of representatives) coming out to announce the 300b dollar bailOUT. We think this is a huge mistake and this is going to come out of the tax payers pocket. Here comes the money! Look out belooow.....!

Any thoughts?

As the previous person noted we suggest to approach them with dignity. If you are looking to work in bulk it does not make sense though to draw out the problems longer than they have to be. To say you will never have a problem is too optimistic. If you are working with true investors they will cut to the chase and evict from day one. Ask questions later. In fact if these are the scum of the earth, and they are if they are going to tear up the house, then they are going to be a problem for you either way. Still as I mentioned above these are people, with families at times, and a lot more invested into the property so approach them as if the worst possible thing has happened. Many times sadly enough the homeowners at times welcome the day because to them it is a sort of resolution to a long on going problem.

At the end of the day though, Business IS Business. It's tough you've just got to be tougher.

Regards,

Get an attorney and get the eviction completed. Everything that falls outside of that is a waste of time.

Best wishes,

Great post but there are a few discrepancies with the post.

#1. Your options are out of order in regards to the banks interest in programs they apply for the homeowners in need of assistance.
Repay
LM
SPO
DIL
Foreclosure
Using the items provided.

#2. You posted that there are 6 loss mitigation options. There are many more options that a loss mitigation representative should know about. Problem is that many of the LM reps at the banks have no idea what they are doing and few workout negotiators even know how to do their jobs correctly.

We find that was we negotiate with the lenders the representatives keep getting dumber. We think it is in large part because of the huge turn overs there are in these departments. They get paid squat and then they are overworked. What can you do?

Besides that one of the best posts I've seen in a while. Keep up the good work.

Great Job!