Real Estate

agent ref me to a loan broker his father, I live in cali &HE removed contigencies knowing we didn’t have a loan (We didnt know this). we had to put 5% down for loan, Then our loan guys calls us 10 days before close asking us for 3% more & with an outrages APR or else I’ll lose my 10k in escrow. We had to leave work and try to get another loan from Bof A which we got with out anymore money other than the 5% we may not close in time & will be fined by the seller. my agent (was a friend) knows that my son was diagnosed w/? i have been unfront with them from begining to end i told them everything my credit & financial situation and they both said no problem. Before I placed a bid we asked our agent only place it if we are confrimed with the loan becuase we have no money to put down and the little that we do we need it to make the renovations the house needs. I want to fire agent can i (no buyers agency) he told us not to worry that he promises that the money we put down we will get back
i live in L.A i never had a loan and my agent new this but we never knew this everytime I emailed agent to get status he never respnded he would however call from time to time but never with any answers we told him not to remove cont. until he was certain we had loan. we have put up 10k earnest &22k loan (sorry confusing but i dont hve much characters 2 wrk w/) his broker said we are fine since we managed to get another loan from BofA. Contract stated that we needed 20k down, when we seen this we advise our agent to pull since we did not have that money and the money that we did have was to make repairs that it desprately needs, we told him if we have to put more than the 10k earnest money we put down then we dont want to continue he said not to worry that he promise that his father (loan brker) will use a portion of the loan as the 20k , as you can see he couldnt even get us a loan. This house needs wrk my son needs surgery&cant recoop in this house we want to walk & 4get the 10k

what part of CA are you in?
Not quite sure why I got a thumbs down for this question regarding your issue.
I was only asking in hopes that you might be in an area where I could put you in contact with someone who could help you.
I have family in CA in the real estate industry and was hoping to lend a helping hand.
It turns out that you are way too far north. I am sorry that I was not able to help you. I was hoping that I could.
I would really appreciate that the thumbs down be removed. I was hoping to do better than just answering your question myself, I was hoping to connect you with someone in this field. I really hope that this all works out for you. I will pray for you and your family. I am very sorry that this has happened to you.
If I were in your shoes, (I don’t imagine that you have extra money to hire an attorney), I would call a different real estate agent (one that is very well known with at least 10-15 years of experience) and ask them their advice. If there is something that you can do, they will be more than happy to take you on as their client.
Again, good luck to you.
P.S. Call 1-800-200-Lend or Lend America.com
They might be able to help

Hey I did a little research for you,
I hope this helps
LOS ANGELES CAMPAIGN AGAINST PREDATORY LENDING

The Los Angeles City Housing Department has unveiled an aggressive public outreach campaign, "Don’t Borrow Trouble," to raise awareness of the growing problem of unscrupulous lenders who prey on unsuspecting homeowners and homebuyers. The campaign includes ads, posters, other printed materials, public service announcements in English and Spanish, a toll-free hotline, (800) 477-5977, and a Web site, http://www.lacity.org/lahd/.

The aim is to educate borrowers about danger signs of lenders offering seemingly attractive loan terms that can result in the loss of the home. The "Don’t Borrow Trouble" program also includes an affordable loan program called HELP (Homeowners Equity Loan Program), to assist low-income homeowners with high-interest loans to refinance and rehabilitate their properties. Provided by Los Angeles Neighborhood Housing Services in partnership with Wells Fargo Home Mortgage, HELP will assist borrowers who may have already fallen victim to predatory lending practices. For assistance, homeowners can phone toll-free (888) 89-LANHS. Los Angeles is one of the twelve pilot cities chosen by Freddie Mac for this campaign.

Had accepted an offer to purchase on my home all conditions of sale were met and I recieved notice that the buyer no longer wishes to buy my house 4 business days before closing.no reasons given at this time. I have invested between 3 and 4 thousand dollars to meet buyers conditions what are my options?

I hope your contract had a good deal of money put down on it becuase you will probably be entitled to it. I have a bad feeling that if you put 3 to 4K into ‘meeting the buyer’s conditions’ that the buyer didn’t put a lot of money down in which case even if you sue, your chances of getting anything back are slim.

Talk with a lawyer to discuss your options. If there is some money down DO NOT sign a release of funds back to the buyer until you speak with a lawyer.

Jim Reske, Realtor
ERA Advantage Realty, Inc.
Port Charlotte, FL
http://www.flwaterhomes.com

http://realestate.yahoo.com/Missouri/Springfield/s-glenn-ave:23ebfdb6608a42ada297f2e22dab03c;_ylt=AhZtiGMZZhxqX1p.m9kVHsYN47Qs

I was browsing through these listings and I came across some foreclosures that seem to be priced at a too good to be true price. Should I buy these or is there a catch?

The amount listed is the amount on which the current owner is deficient in payment. The house will be sold at public auction, and the MAIN bidder will be the lender involved, who will bid the price up to a point at which it will accept. If no one bids high enough, the lender will be the high bidder, and will take the property as lender owned.

Don’t expect to get it for just over $9,000 unless that is all it is actually worth.

Realestate

Here is a website for all Updated & Latest news and information. Please check there.

http://www.keralaroom.com/

Hope this will help you.

IAM JUST STARTING OUT AS A NEW REALESTATE AND NOTE BUYER. I WOULD LIKE SOME HELP ON HOW TO DO THIS KIND OF JOB. IF SOMEONE CAN SHOW ME HOW TO BUY REALESTATE AND NOTES I WILL appreciate it thanks god bless.

Just ask people or companies who carry promissary notes to sell them to you at a discount, then have them legally assign the note to you and pay them for it.

My boyfriend is a realestate agent. His sister is a doctor and wants to purchase some land that will give him a commision of approx. 40K. His sister does not want him to have it b/c, she does not want anyone else in the family to have money but her. So she told him that she could not use him in the closing and he would not be able to get the commision because the loan officer will not give her the loan if she uses him as the real estate agent. He has recommended a friend of his(loan officer) that she should use.From the origination of this sale, my boyfriend has handled all paper work, faxing, calling,setting up meeting, appraising, etc (fall 2005), now she is saying this. The closing date is scheduled for Apr.2006 We dont believe her. We live in Raleigh, NC. Please help us.

Tough call. If your boyfriend can document everything, he can sue her for the commission amount.

But…

There is ONE CRUCIAL document that will make it really easy for him. If the sister signed a buyer’s representation agreement, it’s a slam dunk for your brother. If you don’t have this document, dig in your heels and get ready for a court battle.

Bottom line is if your boyfriend can prove everything he did, he’ll likely get compensation. But it’ll take a court order to get it.

Good luck.

My agent ref me to a loan broker who was his father, I live in cali & he removed contigencies knowing we didn’t have a loan. we had to put 5% down for loan, Then our loan guys calls us 10 days before close asking us for 3% more & with an outrages APR or else I will lose my 10,000 in escrow. We had to leave work and try to get another loan from Bof A which we got with out anymore money other than the 5% we may not close in time & will be fined by the seller. my agent (was a friend) knows that my son has been recently diagnosed with a cyst inbetween his eye&brain and could possibly be cancer, I have been unfront with them from begining to end i told them everything my credit & financial situation and they both said no problem. Before I placed a bid we asked our agent only place it if we are confrimed with the loan becuase we have no money to put down and the little that we do we need it to make the renovations to the house since the house needs some fixing. I want to fire my agent can I
http://answers.yahoo.com/question/index;_ylt=AjwRMC_QZip2mzEx6PJyIovsy6IX;_ylv=3?qid=20080217225845AAluiDZ

Things must be definetly done different in texas
An agent is "responsible" to their clients. They have a duty, called a "fiduciary duty." This means the agent is responsible to act in the best interests of their client. A car salesman does not have to act in your best interests — they just have to sell the car. It isn’t that simple for real estate agents.The Buyer Agent owes fiduciary duties to the Buyer under this relationship and agreement, including fidelity, honesty, dedication to purpose, acting in the Buyer’s best interests, etc. when is it in the clients best interest to have the contigencies removed when a loan is not in place. He removed contigencies knowing you did not have a loan call an real estate attorney. I am sure that was not even the tip of the iceberg of the things he did wrong

Do they need speciall knowledge in this or in addition to the usual realestate no how?

They can, they do have the experience and understanding of the elements that drive value, However, licensed real estate appraisers are required for FDIC loans.

We placed a bid for house on a short sale but I want to know what the chances are that the bank will choose us to sell too. The house was listed at 350K and we bid $365K as that is what we can afford. Our credit is excellent, my husband and I have stable jobs, we are pre-approved and have 45K in the bank and are willing to put down 20%. This house has been listed since August. They did a drive by BPO (if anyone knows what this means, please let me know) and are waiting for the appraiser to come do the appraisal. What would be a sure way of securing this property? This is my dream home. I just couldn’t afford to pay anymore. It looks like the median price is about $360K in this are. Any short sale experts that want to give me some insider tips?

I am very experienced and knowledgeable in purchasing short sales and my clients get the best deals. Here’s the strategy you need to use (it might be too late on this one since you are paying too much and the bank already knows about your offer):

As a buyer, you will need to have your agent look at the lowest comparable sales and offer around 10% below that (for your area). For example, if in the last 1-6 months the low sold prices were 360, 355, 365 your offer will be for around 320k. You will also need to ask the seller to pay for all cost and 3% for your closing cost. If the home is owner occupied, then you, not your agent, can contact the owner and tell them that you will give them $1,500 if they use your purchase offer only after close of escrow/sale. The seller gets nothing from a short sale and offering them money will motivate them to use your purchase offer for the short sale. Plus it gives them money to move. Now, the only people who will get the house are people who will offer the owners the opportunity to rent it back or offer them more money (homeowners tend to catch on quick when they realize they can profit from a short sale). If the owners are out of state or nowhere to be found, be creative.

The second part is the BPO. The bank sends an appraiser to the home. It is very important that one of the agents meet the appraiser and give them 3 low sold and 3 low active comps. They should let the appraiser know that the house is in foreclosure and any value at or below 320k would be appreciated as it will help the owner out. Ask for a business card and say that when this is over and if it becomes a success, you will like to send the appraiser a special thank you. The business card will also let you know if this an appraiser or a real estate agent. The real estate agent doing BPOs is doing so in hopes that the short sale will fail and that they get the listing. So they purposely give the bank high numbers. So by knowing who you are dealing with, you know what to expect and what your next strategy is. There’s more, but these two points should help you out.

Also, DO NOT SPEND A DIME until you have an approval letter in hand from the foreclosing lenders. A verbal confirmation means nothing as the banks might counter the terms or ask the owner to sign a promissory note. Also, make multiple offers on every short sale you like and go with the first one that materializes first with the terms you like. No need to give an earnest money deposit or start the purchase (escrow or settlement) until you have a written approval letter.

A lot of real estate agents and buyers think that making and submitting high offers will ensure a purchase of a short sale. It is actually the opposite being true. As a listing agent of a short sale you want to negotiate a low ball offer with the lender in order to find motivated buyers and to easily flip it to another buyer should the original buyer decide to flake or their loan is no longer valid. Nothing worse to be sitting with an overpriced negotiated short sale where the buyer backed out and no one else wants it because the price is too high, so it goes into foreclosure. As a buyer, you want to make sure you are getting a good deal and to protect yourself in a downward market where prices drop, especially since short sales take anywhere from 1-5 months to negotiate.

Good Luck!

how does and internet user find this listing

If you are searching for something in particular, search on yahoo for the item in quotations.

i.e. "real estate" "1171662422" "12666"

Good luck!