It Just Keeps Happening Over and Over Again…

It started this past week after a long dry spell between our seeing any fraudulent
transactions in deals we were looking at. Suddenly, we were staring at 4 different ones
in just a few of days. We actually saw a fifth one but I have been told by a higher
authority not to write about it until the “hammer falls” on the culprits.

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What’s Really Happening Out There?

It seems that on any given day you can get nearly as much good news as bad news.
Carefully sifting through the data and checking the comparison periods, the parameters
of the comparisons and even the sources, leaves me to believe you can support any
position by manipulating the data. Likely, this isn’t a big revelation to anyone but, then
again, what is true and what isn’t? P.S. – I am not a conspiracy theory guy but as I get
older it somehow is looking better.

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Yes, I Said Short Sales Don’t Work, But There are Exceptions

I constantly am misquoted and misunderstood but it is OK because in my old age I have
learned that no matter how much you try to help people, you’ll be criticized for not doing
enough or doing the wrong thing. Frankly, it doesn’t matter. I am as handsome as I’m
ever going to be, so from here on out that’s all I have to work with so I have to resort to
brainpower, when it is still working.

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As I had predicted months ago, more and more major banks are stopping their
foreclosure actions because of potential transaction fraud. In these cases, the so-called
“Robo-signers” were signing and attesting to assertions that were untrue on the
foreclosure documents. This impacts existing foreclosure actions and is rapidly
extending to actual REOs that have pending closings from certain banks because title
policy issuers are halting writing title insurance, for now only for specific lenders. This
stoppage of closings will likely extend to conventionally financed properties that had
been REOs that have been rehabbed and where the buyers are looking to use
conventional financing for their end-buyer. I mentioned how to avoid this problem using
private money sources, but you’ll still need title insurance to protect the buyer’s equity.

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