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Dragon's Den

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Listing Foreclosures for Lenders

Articles written to inform real estate agents about how to list property for and do business with banks, lenders, asset management companies, Fannie Mae, and Freddie Mac

"FAUXCLOSURES" .... the Newest Scam??

adam robinson sarasota posted this 2 1,189 Views

Todays local newspaper, the Sarasota Herald ran a story on something that I found interesting.   It is when properties that were once bank owned are advertised as foreclosures - something they called "fauxclosures".  Properties being advertised as being a bank foreclosure when in fact they are actually being re-sold by an investor who had previously bought them from the bank.  Or another version (aka flopping) is when an investor gets a short sale contract approved and then re-sells the ...

Daily Show Focuses on Foreclosures and Stategic Default

adam robinson sarasota posted this 1 2,008 Views

The Daily Show, hosted by Jon Stewart, devoted about half the show last night, Oct. 7 2010,  to the "Foreclsoure Economy" and "Stategic Default".   At about 3 minutes into the show the topic of the Foreclosures is brought up.  Mr. Stewart goes on for seven minutes explaining how the foreclosure crisis started. (The banks made a bunch of @#!$ mortgages, then sold them back and forth until the government bailed them out.)  At ten minutes into the show the topic changes to strategic defa...

How to List Foreclosures for Fannie Mae

adam robinson sarasota posted this 6 9,590 Views

 Last week I attended The Five Star Conference in Ft. Worth Texas.  This year the event sponsored by Default Services News (DS News), had over 7,000 attendees.   This was a significant growth from the 1500 who attended in 2007 and the 5,000 in 2008. A main reason for a Realtor to attend this event is to learn how to list REOs (foreclosures).  The "Lender open houses" on the last day were the most popular and informative. ...