Make Money Online

While it doesn’t seem as grossly belied as six months to a year ago, prospective buyers of bulk REO (known as real estate owned, bank owned or foreclosed properties) portfolios are still experiencing immense frustration in finding product with the aftermath of “intermediaries” operating on the Internet.

Over the last eighteen months, a depressed real estate market, coupled by ever increasing foreclosure rates and a severe downward spiral of fresh mortgages, is only fueling many imploded mortgage brokers to parlay their attempts into linking buyers with banks distressed assets. These internet “brokers” with minimalistic experiences in the workings of liquidating distressed assets, create lengthy chains of “intermediary brokers” between supposed buyers and supposed sellers in their eternal search for product. The end result is they are ill-equipped in delivering product, are ineffective in collaborating with the client’s requests, and do not fully understand the protocol that needs to be followed. Oftentimes, a buyer’s assets are floated in cyber-space filtered from one intermediary source to another. Dissuasion begins to form in the buyer’s mind, he is told he can readily purchase REOs in the low 20 to 30% LTV and gets the false illusion that such packages readily exist.

Another seen result of these “broker chains” is the nefarious plot towards luring prospective clients towards “available REO packages” which emanates from some obscure place and is leaked to several of these “intermediary brokers” who cross-pollinate these packages amongst the [...]