We do not work with broker chains. Our preference is to deal directly with real buyers who are the decision makers. If you are a buyer rep or buyer mandate, and have authority to purchase bulk portfolios on behalf of the buyer, we will determine if a working relationship can be established. We review this on a case by case basis.
We use several nationally recognized valuators who provide BPO values. You can perform your own valuations online at web sites like Cyberhomes.com, Zillow.com and Trulia.com.
Once funds are transferred (RESPA) laws require that the seller service the loans for 15-days and during this time the seller will send out the goodbye letters letting the borrower know that their loan has been sold. After the 15-days are up all files will be sent to your companies or your servicers address for the loans to be boarded with the new servicer.
These deeds can take from a few weeks to several months due to the banks paper trails, county clerks and title companies. The buyer will receive affidavits of sales within days of the purchase directly from the financial institutions.
Inaccurate and Incomplete information, unreasonable requests, unsigned documents, inaccurate dates on forms, inability to verify funds in a timely manner and busy and slow compilers. Please review all forms are complete and current before submission.
Yes, but some of our offerings must be purchased exactly as it is packaged.
A non-performing loan is a loan that has become delinquent by the borrower.
Encumbrances such as unpaid water bills and county taxes may have accumulated since the borrower is no longer paying on the loan there is a high chance that other bills are delinquent also. A Title search is highly recommended.
No, mortgage financing is not permitted, you are not actually purchasing the real estate, you are purchasing the delinquent note.
Yes. A general summary of the portfolio is be provided to the investor. Once you have reviewed the information on the spreadsheet and if they decided to move forward we will provide a link to the collateral files for your review.
Closing cost are negotiated between buyer and seller and are spelled out in the purchase and sales agreement.
If you do not already have a strategy in place to dispose of the properties you purchased once you have foreclosed, we can assist you in the sale of your inventory.