Consider this. Fair Oaks California, July 2010. Ocwen a loan service company are managing a Freddie Mac insured loan secured by a house in Fair Oaks. A buyer submits a short sale offer of $389,000 that will net $350,000 to the owner of the Freddie Mac Loan. Ocwen shuffles the papers on the short sale resutling in an investor buying the loan at a discounted price of $241,000 and the short sale is denied. This results in a $109,000 larger loss to the loan owner, whom had sold the loan for 241,000 - rather than letting Ocwen close the short sale. Freddie Mac insured some of these loses... the seller who lost the home has a larger deficiency than the short sale would have provided... Ocwen and the investor who bought the loan are the only winners in this deal. hmmm...
Now consider how this is only one of many of these dirty little deals at our banks.
If you go raise the cash and deal through the back door at trustee sales and with bank asset managers... you can profit while these deals are holding real estate hostage, in 2010. Cash investors can buy a short sale, or a trustee sale, or an REO sale for a 25% - 30% discount compared to home buyers who need to get a loan.
This gap in 2010 allows investors to have positive cash with high leverage or they can flip for quick profits.
Do you want to know more?
(916) 201-5726 call me.
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When a person threatens another person to act in a certain way, on behalf of exposing confidential secret that the act is a crime. This information should not be a criminal, just a threat to disclose the information to wait for some activities is another form of extortion.
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