What he doesn't mention in the presentation, which includes a demo. of the impressive-looking product, is that for $2K you don't actually get the software to load on your computer, you access it on the Internet for a "modest" fee of $69.95/month.

The problem with loans sold on into MBS is there are restrictions or confusion as to what can be restructured.Some borrowers can honestly afford to pay some of all of the debt if the terms are changed to better match what they can pay vs. what the ARM might require after a reset.People should be responsible for what they borrow.

I have been for years looking for software system that allowed everyone on my team to access it and add their information without seeing what they shouldn't.

I have access to a 6-8 month hard money loan so we can offer cash and closing within a matter of days.

Or the lender sold off the credit risk and a condition of the credit swap restricts what can done when it comes to loan term modifications.The Sec of the Treasury was highlighting this on CNBC a few weeks back.That said some lenders do control their loans so they will strike a bargain.

Underwriting guidelines have dramatically changed, restricting and eliminating what we used to fund.

No restrictions other than traveling with cash in your pocket.

They in turn lock your credit and give you a pin number that is needed to access your credit.

As such, if you don't have access to the MLS, you will have no way to know what forms they require for their offer (many require modified versions of the standard state contract).All that said, if you really want to try to go it alone, here's what I would recommend:- Call the number for the brokerage and ask to speak with the agent who has the property, or ask the person who answers the phone who has the property;- When you get the agent, ask what forms they require to submit an REO offer and where you can get them.

Find an agent or someone who has access to the MLS in your area.