Who Wants In? NARS/TCHG Training for Non-CA. Members?

[dave salcidoMember]

@mpowell wrote:

A Webinar would be good for me. Since I work, getting to LA for a Thursday is not possible.

Thank you,
Mike Powell

I agree that webinars are the most cost and time efficient method for TCHG short sale training. Any seconds to that motion?

[tmynarParticipant]

That would work great for this Texas.
Thomas Mynar

[dave salcidoMember]

@tmynar wrote:

That would work great for this Texas.
Thomas Mynar

I will follow up. Thanks Thomas.

[NULLMember]

@Dave Salcido wrote:

At some point in the near future, NARS may open other areas of the country for the NARS Short Sale purchase plan …

There are literally tens of thousands of short sale possibilities in California alone. So many in fact, that the entire active NARS membership could not possibly keep up with the incoming flow of available properties. Please respond back on this post and let me know if this idea has any merit and if you would attend the training if it were made available.

The TCHG method is 100 percent Realtor(r) or Agent based. Search the forum for my postings about the A-B-C method. Although, you do not have to use an Option contract the method stays the same.

My understanding is that REAP has a method not requiring one day funds via private financing. I presume this method has been killed by the current lending environment? This assumption is based upon your post here.

Chad has developed a very effective program for short sale acquisitions I would suggest anyone that is interested to apply your due diligence and possibly get involved as quickly as you can. Opportunities like this do not surface very often.

[bill_gattenParticipant]

Remember that use of an option or CFD in a short sale scenario is against the law.

It is also against the law to use an end-buyer’s money to position your self as an investor in the transaction. An A to B purchase must be wholly separate from the B to C sale and purchase.

Investor B profiting from a sale to end-buyer C is against the law unless fully disclosed in writing to Bank A and Bank B, and to the short seller and the end-buyer. (The lender’s reasoning is that if the house was worth more, they were deceived…why weren’t they offered the true value?)

Arranging in any manner whatever for the seller to receive funds of any kind as a result of the short-sale is against the law (bank fraud).

Dictating or assisting with a hardship letter is against the law (collusion in bank fraud)

Misstating a short sale applicant’s hardship is against the law (bank fraud).

Overstating a short sale applicant’s insolvency is against the law (bank fraud)

Suggesting that a short sale owner of record stop making payments during the approval process is against the law (collusion in bank fraud and proffering legal advice without a license).

An investor’s colluding with a BPO Agent is against the law.

Buying the property into a land trust is currently against FHA and VA regulations; FNMA and FLMC are also watching land trusts with a keen eye (they don’t know how we use land trusts, however, and we are scheduled for meetings with each of these entities within the next few weeks).

Having any documents signed (even though inactive and unrecorded) prior to the five day right of rescission’s completion is against the law.

If you are dealing with ANYONE who purports to be a short sale expert, ask them if they know these numbers…and if they don’t, stay as far away from them as you can: 1695, 2945, 90-05, 4681 and 544…if they are not intimately familiar with these numbers they are, in all likelihood, amateurs and breaking the law, and will suck you into to their upcoming equity-stripping and unconscionable advantage law suits.

Today there is little that is more litigious than dealing in short sales without the proper training, understanding of, and complete compliance with, the law.

That’s why we charge $8,995 for our training and participation. Others (often using options and doing all the wrong stuff) charge more and merely purport to teach you how to negotiate your own deals (easier said than done). We do all the negotiations for you and complete all the paperwork for you (fully at our cost) and always offer All-Cash with Proof of Funds, As-Is, no contingencies at 85% of the appraisal on the property with immediate funding upon approval and a 72 hour close.

Beat that, woodja!

Bill

[NULLMember]

I’m spooked. I guess that is why Donald Trump has 13 Lawyers following him around.

[scott_l._moyesMember]

Bill, great post! It’s a good thing that neither one of the methods we use violate any of the laws or ordinances you listed. Thank you!

[NULLMember]

@bill_gatten wrote:

Remember that use of an option or CFD in a short sale scenario is against the law.

Bill

Can you provide the Statutory reference for this statement. I agree with you but I need to have the Law that forbids the Option or Contract for Deed in front of me so I can shut down that Orange haired guy out of Florida. He is kinda annoying.

[peter@amakyaMember]

We here in the south are not so good with abbreviations and alphabet soup is even worse. What does all this stuff mean?

[NULLMember]

A-B-C is the Double close method 1000′s of investors are using to make money out there today. More so than the Land Trust in this market I would say. Just my observation though.

A = Owner of Record and Seller 1
B= Investor or Buyer 1 with one day cash funding
C= End Buyer or Buyer 2 with a loan

B buys lower than C so he makes some bucks. Tricky with (pre-foreclosures) Short sales. Since you had better have all your legal ducks in a row.

[gshepherdMember]

Always interested in business in Texas!!

Looking forward to sending Dave S my CA realtor contacts.

[NULLMember]

@Scott_L._Moyes wrote:

Bill, great post! It’s a good thing that neither one of the methods we use violate any of the laws or ordinances you listed. Thank you!

Remember, Chad does not use the EHT to transact the Short Sale “flips” He uses 100 percent CAR (California Association Realtor) Forms. This is why he an do so many. The forms he uses are 100 percent sanctioned by Realtors(r).

Another note I found nothing in my research that makes using an Option Contract illegal in terms of making a fully disclosed offer to a short selling lender. Any and all references to the contrary would be greatly appreciated.
I am not advocating the use of an Option Contract (not lease option) I would rather use a Purchase Contract with addendums but I find no reason to not use an Option Contract if the lender allows it.

You know what one of the differences are? 10 Dollars versus 500-1000 Dollars per offer. “Talk amongst yourselves”

[Author]

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