BOSTON - A mother acquitted in the accidental shooting death of her 8-year-old son by another child has been sentenced to at least six months for lying to police about it.
BOSTON - A fatal explosion at a Norfolk condominium project has led the state attorney general to investigate the delivery of faulty propane to locations across New England and New York.
A Danvers man charged with beating his fiancee's 2-year-old and 6-year-old daughters has been ordered held without bail pending a dangerousness hearing.
FIRST ON FOX VIDEO: Officers say a pizza delivery man was lured to an abandoned building on Hyde Park Avenue just after midnight and was then stabbed to death.
HANOVER - A 68-year-old man was arrested for elderly abuse after his father was found alone on the floor inside his Brookwood Road home covered in excrement.
PITTSFIELD — State police say they have uncovered a plot by a member of the Berkshire County chapter of the Hells Angels motorcycle gang to frame a witness in his criminal case.
(REOS) REO Specialist course hosted by AREU & PASS
Instructor:Chandra Hall
Over 35,000 Real Estate Professionals
have completed this dynamic course nationwide!
Center of Responsible Lending - "A new foreclosure starts every 13 seconds, equaling nearly 6,500 a day CRL estimates that by 2012 at least 9 million new foreclosures will cost $1.9 trillion in lost home equity to 92 million families".
One out 10 homeowners are past due, in default or in some level of foreclosure today. Over sixty percent of these homeowners have yet to contact their to learn options available to avoid foreclosure. Over fifty percent of loans modified last year are now back in default.
The REO Specialist (REOS) - One Day Event
"REO - Real Estate Opportunities"
We have over 5 million properties on the market today. From January 2009 through September more than 2,7 million families lost their home to foreclosure and nearly a million homeowners are facing foreclosure in the third quarter. Over 75 of the sales transaction in September were Short Sales and REO, reported by NAR. The REO arena will need additional REO specialist to help with this new inventory. Don't delay learning about this new real estate business niche that will keep you in business this year and into 2010.
Working In the REO Arena
Enhance your real estate business by learning how to connect with banks, lenders and REO 3rd party outsource companies. Attend the REO series provided by American Real Estate University (date, location) and taught by Cathy McDaniel a 16 yearREOand mortgage lending expertto learn about BPOs, listing, managing, selling and financing REO properties. The course will coverjob descriptions, theory and fundamentals required to participate in the REO industry today. Helpful tools, resume outline, a directory of200+ BPO companies, 65 REO Asset management companies, more than 14 REO organizations and associationswill be provided at the end of the class. Hurry seating is limited.
We will touch on: An overview of a BPO (Broker Price Opinion). You will also learn the job description of an REO (Real Estate Owned) listing agent and what requirements are needed to apply for the job. Everything about the REO business is time sensitive. REO asset management companies do not have job fairs or telephone interviews. They have an open registration at their website.
REO Listing Agent
Wewill alsocover marketing ideas, managing and maintaining instructions required by your REO client in listing and selling one of their asset/properties. Keep in mind that each client or outsourcer manages assets in different styles, interpretations and dictates special handling. Each clients policy, procedures, timeline and forms will be different. Also included will be a detail discussion on risk management and several federal laws.
Working With Buyers
Also discussed: Working with buyer(s) interested in purchasing a Short Sale or REO property is different from working with a local private seller. You will be negotiating direct with employees that represent the bank, lender or an outsourced asset management company. These negotiators primary mission is to obtain the highest net return in the shortest amount of time in a sale transaction. Each company will have specific policies, procedures, addendums and a specific timeline performance to complete a sales transaction on their property. These instructions vary in the this arena. Buyers must read, understand and agree to these various requirements prior to submitting an offer. Real estate professionals who prepares the contract must be familiar with its terms because they will be held responsible for any mistakes or misrepresentations.
Financing Your REO Property
It is a great day to buy! Interest rates are below 6, great selection of inventory and sellers are willing to roll out the carpet in buyer concessions to entice them to visit their property. Many changes in the mortgage arena within the last 30 days and more to come effective January 2010. Financing an REO "as is" property today can be challenging. During this course study you will learn many new laws, regulations, qualifications and various "buy and repair" finance programs to purchase an REO home that needs "TLC" or maybe the heating and AC unit is missing plus lender required repairs for financing.
MARKET UPDATE
Bloomberg - 2,264,194 foreclosure filings since January 09
By mid 2010, loans in foreclosure will reach 3.2 and delinquencies will rise to 8.0.
Fitch Ratings determined $134 billion of loans which will recast in 2011. This payment shock a hike often 63 higher than the minimum payment, indicates a greater risk of default.
Over 94 FDIC Mortgage Company failures this year
Over 30 million Americans are out of work today 19 of the overall work force
9.7 Unemployment rate highest 1983
Over 6.88 million are collecting unemployment
Over 4,000 bankruptcy filings per day across the nation
Over 70 of real estate transactions in August were Short Sales and REOs
