Real estate owned

RMS Value Add Below are examples of the RMS “value add” that are beyond normal oversight. These are examples of unnecessary delays and other types of issues which, if not identified by RMS, did or would have resulted in total of hundreds of thousands of dollars in losses to the investor that were reversed or recovered from the servicer: o Foreclosure loan-level examples  M3 211474 and 220599. Foreclosure Management New Mexico redemption. Through audit, RMS identified 2 loans where the servicer allowed redemption in an amount significantly lower than the foreclosure bid. Servicer claimed it was attorney error but showed no evidence to validate it was counsel’s error. On behalf of the investor, RMS “demanded” reimbursement and settled for an additional payment by Servicer $60,000 for both loans  Foreclosure Management New Mexico lost note (M3 220585). Foreclosure firm lost note and ultimately the court dismissed the foreclosure for no standing. RMS demanded Servicer issue a demand to the firm for payment in full  M3 211414. Servicer advised the foreclosure sale needed to be vacated as funds were not received. RMS pushed for the motion to be filed without delay and after this was in process, it was confirmed the funds were received and had been pending from the Sheriff. If not for the frequent follow up and push to file the motion, it is unknown when it would have been discovered that the funds had been identified.  M3 211319. After RMS started demanding the…

The real estate market decline that started in 2006 and hit its low point in 2012 is on the mend. Unfortunately, many good Americans lost their home over these 6 years. With interest rates still amazingly low it creates a very attractive market for those individuals ready to be homeowners again. This pool of buyers, referred to as “Boomerang buyers” do have options to get into a home of their own. Among these options are Rent to Own, or a lease purchase, Owner Finance, short term private…

neighborhood still under construction? These are just a few factors many home buyers consider. However, three factors are generally considered the most important by real estate agents: price, type of home, and location. Price One of the first things a home buyer should consider is the price of the property. If you go out looking at available homes, you will find properties in just about any price range you can name, from million dollar estates all the way down to empty lots selling for a…

Real estate and personal property holders have the several rights in common because they both can control and manage their assets, they can use it or discard it. Both owners can sell or give it away as gifts. They can withdraw or discard it as well. Although, a real property owner could be more complicated in several ways than a personal property. Real estate might be a heritage with different successors with a life estate. Whereas, private property is different because a realty has two…

Real Estate Tax Strategies Achieving Financial Strength Through Real Estate Tax Strategies The right tax strategy can help you build true wealth because you can deduct hundreds of everyday personal and business expenses and interest payments, generate cash flow from rentals while building equity and realize tax-free capital gains on the sale of primary homes every two years. Any financial portfolio benefits by including real estate to hedge and balance the investments. In real estate, agents…

1. Interview Summary Report I chose to interview Laura Joyner, an Arizona Coldwell Banker realtor for this project. As soon as I read the project description, I knew I wanted to interview a realtor—I will be graduating with a Real Estate minor come Spring 2018, and possibly become a realtor myself. Coldwell Banker is nationally known, and I even saw their lawn signs growing up in Pennsylvania. Therefore, I searched on the Coldwell Banker website for a successful female agent in the Phoenix area,…

class families face potential homelessness. Claim 1: The property business gets better after the financial crisis abates. 1. The selling price of homes skyrocketing again after numbers of local and foreign investors, especially from China, started purchasing properties in compelling quantity. “Middle class Chinese has spent over $28 billion on American homes through 2014.” english.cri.cn, January 6, 2016. 2. It is common for wealthy people owning multiple properties on top of their successful…

work to “flip” homes owned by the bank or mortgage companies. This idea could even be applied to “flipping” neighborhoods. During the foreclosure crisis, many people lost their jobs in my community. I live in a community outside the city of Detroit which was hit particularly hard. Our community job market was very automotive-based and when the car companies started to struggle, so did our community. Many people lost their jobs. These people were assembly line workers, management,…

Although just about anyone could get a mortgage loan during the mortgage boom through subprime mortgages and other “creative lending” practices, the smoke and mirrors eventually cleared up to show that these lending practices were no more than “risky lending”. The reality learned was that if someone didn’t qualify for a home using traditional, sound lending practices, then they likely shouldn’t be given the loan. The mortgage meltdown also provided an opportunity for new, first-time home…

divisive by the day. The haves against the have-nots, rich versus the poor, even old against the young. It used be that Australian’s would spend three or four times the annual income per ABS Surveys of Income and Housing on a house. Now it’s eleven times, putting homeownership out of reach from many and especially for young people, with tax breaks having helped fuel the unprecedented housing boom. A generation has been shut out of the great Australian dream, but experts says that Australia’s…