Of course, I know that lenders cannot give out details of borrowers who are behind in their payments, but as a real estate broker for over 20 years, along with additional experience as an AVP over collections, foreclosures and REO, I feel that the biggest help we can give homeowners right now is helping them stay in their homes. HUD recently came out with a stat that 80% of the people that lost their homes had never spoken to their lender…someone has to get the word out and help these people!

I submitted a lower offer on a REO house directly to the listing agent making her a dual agent. Also gave her a deposit check($10,000) made to her agency which she owns so that she can use her company check to write to escrow if deal goes through. But the bank rejected my offer. So I told the broker that I want to back out over the phone & I asked her if I can have my check back. She told me that she doesn’t have time to meet me but she does have other available properties which I don’t have any interest on. From then on, she’s been avoiding me & refuse to give me back my check. I cancelled the check but according to the bank(B of A), the check will be able to be cashed in 6 months so I need to re-cancel it . I contacted the department of real estate and they told me that I can file a complaint. This process can take months. Should I just ignore the attemp to get it back & keep re-cancelling every 6 months? All I want is to get my deposit check back. What should I do?
She’s a California real estate broker by the way.

I am a new Realtor with a focus on REO sales. Does any Real Estate Agent or Broker have a list of …or be willing to share the particular questions asked by the Bank Asset Managers when they are screening and interviewing a propective applicant to do thier Broker Price Opinions. Thanks….

Will the bank charge the buyer to help pay the commision

I would like to become a specialist agent or broker in REO in California. I have B.A in business, working towards a MAsters and will get my Real Estate License soon. But how to I get into REO???? How do I get my listings? Do you have any career advice or reccomend me to any reputable organizations? Please advise. I need some mentoring Is this something I can do part time. Anyone hiring out there??

I AM NEWLY LICENESED REALTOR AND I WOULD LIKE TO KNOW WHAT PROCEDURES ARE NECCESSARY TO BEGIN LISTING REO PROPERTIES. IS THERE A LIST THAT I NEED TO ADD MY NAME OR DO I HAVE TO CONTACT BANKS IN REGARDS TO MY INQUIRY? NOT SURE…

THANKS