All Forum Posts by: Andrew Meegan

I have 2 lenders that I know will not require title seasoning for investment properties, if the LTV is right. Contact me if you would like me to work something up.

I will take a crack at this deal if youd like. I have some ideas on who will fund a beast like that and would love to show you what I can do. I am licenced to originate in all 50 states for residential.

Do you still have your buyer in line? What's the deal with the cash out for the buyer?

i just found out about this yesterday. i wish i knew earlier.

are there any other organizations like this one? what other dates/events should i be marking off on my calandar?

my friend that works at byn mellon said he had no idea. but his email definately is @byn.mellon.com. <--- note the . inbetween the byn and the mellon.

i dont have anything to reciprocate, because i am just getting started down this road, but definately want to know who managing what where and for whom.

i have a big plan, which if i am able to implement it, we will all be making plenty of money, and the REOs will fly, if not move waaaay faster then they know they can move them now.

this whole REO thing is screwed up. there shouldnt be any secrets. these asset managers should be the most talked about and well known names in our biz right now.

it never hurts to throw in an offer. if anything, itll put a bug in their ear. if they reject it, itll open the door for you to resubmit the offer a little later down the line when they figure out pricing.

or get a couple friends to submit rediculously low bids. one gets rejected, then the next offer goes in. then you come along with your bid not too long later. you might have a better chance w your offer then. although itll probably only work if they actually keep track of offers on the properties.

thats how i buy cars off of craigslist. i just have a couple friends harass the people w low ball offers. then i swoop in with my much more resonable offer, which is just above low ball, but after the seller is frustrated.

haha, thats a great article. i did read that before, but i guess i forgot.

their has to be someone trying to wrangle that mess.

Well if you ask, you shall recieve... I hope.

The guy asking for the bny mellon asset manager got his answer pretty quickly. So I need to ask too.

Anyone here have the contact info for American Home Mortgage's asset managers? Or who ever it is that is running their REOs?

Maybe Option One too?

Both of these companies funded a TON of loans in my neck for the woods from what my research is revealing. They both are probably up the creek.

Thanks in advance.

that article is definately a great read. many months have passed since it was written. has anything changed at the servicers? are they dealing w these problems more effectively? if they were busy then, they must be out straight right now.

has the market produced any new methods for dealing with all this?

i have consistently seen a property that was taken back by the lender not hit the market for another 6 mos. so, from 30 days late to FC to REO listed on the market can take 15-18 months.

the banks have a pretty goofy process at this point and need a wake up call, or instead of trying to make some money back on a property, thy will begin to not be in the negative so much.