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97% of Hawaii repos by mainland banks
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12-12-2010, 02:55 PM
Well, we bought a house here in Oklahoma in 2007 with cash. Got title insurance, and a special warranty deed. Low and behold, I checked the MERS system, and guess what? It shows an active mortgage. My guess is the money went into a black hole. I am sure I can prove we paid the money as it was a wire transfer, but what the hell is going on here? Something is wrong.
12-12-2010, 05:25 PM
Ok, one more link for those who are interested,http://blog.chinkinthearmor.net/wordpress/?p=595
and as far as our situation, I will have to do my own digging and get it figured out.
12-12-2010, 07:30 PM
quote:Actually, I'm not working towards such a model, I already implemented it three years ago. All my clients get a copy of the "Menu of Services" that CLEARLY describes what I do for them at various commission levels and the choice is theirs. Aloha, John S. Rabi, GM,PB,ABR,CRB,CM,FHS 888.819.9669 johnrabi@johnrabi.com http://www.JohnRabi.com Typically Tropical Properties "The Next Level of Service!" (This is what I think of the Kona Board of Realtors http://KonaBoardOfRealtors.info)
12-12-2010, 10:12 PM
John, I was deliberately vague because I wanted you to describe it yourself. Thank you.
But is there a way to get around the need for an agent when one simply wants to pre-screen a property?
12-13-2010, 02:24 AM
I expect online services to replace agents and retail mortgage folks in the next decade. Buyers and sellers are ever more sophisticated. Lenders, sellers will be able to meet with buyers online to offer their wares. My last escrow instruction and agreement - written on the back of a paper bag - grin We are working on web based models for another industry. What we are up to could be easily used for real estate. We are not that far ahead of the pack. I expect a company like google to get in the biz...... they already have all of the maps / photos and marketing in place Once the market stabilizes I would expect a whole new online model. In the meantime a little self policing and a 4 year economics or finance degree requirement for prospective agents and loan reps (& anyone advising clients as to re transactions) would go a long way in restoring the credibility of the profession (s).
12-13-2010, 06:48 AM
It is the deliberate choice of many sellers to use the "current system" as it usually
currently functions just so they don't have to deal directly with buyers or have them previewing their properties unescorted. Should they wish to take on most of the process themselves there are already other options besides the classic agent/seller arrangement. "Help U Sell" and "Buy Owner" come to mind. Besides, most everything in the contract between the agent/broker and the seller (or buyer) is negotiable. Most sellers prefer the insulation the classic arrangement provides. Pua`a S. FL Big Islander to be.
Pua`a
S. FL Big Islander to be.
12-13-2010, 07:13 AM
quote:No, there isn't. Sellers list their properties with agents exactly for that reason, to eliminate the looky lous and have their property looked at only by qualified buyers. (Of course that doesn't mean the real estate agent showing up there with a client prequalified that client, but that's another story about the lazy and unprofessional real estate agents.) [  ][][]Aloha, John S. Rabi, GM,PB,ABR,CRB,CM,FHS 888.819.9669 johnrabi@johnrabi.com http://www.JohnRabi.com Typically Tropical Properties "The Next Level of Service!" (This is what I think of the Kona Board of Realtors http://KonaBoardOfRealtors.info)
12-13-2010, 08:58 AM
dirk1609 Posted - 12/12/2010 : 07:23:28 We recently ran into a fun one with our home in ocean view. We bought 4 years ago, put over half down. We have never had a late payment, have EXCELLENT credit etc.
------------------------------------ Maybe I am missing something here, but with "EXCELLENT" credit and so much equity why would you stop at asking just Wells Fargo? Why not refinance with another lender? We have refinanced our different homes several times and never stayed with the original lender, but always chose to move to another lender to refinance. Have you tried other lenders? hawaiideborah
hawaiideborah
12-15-2010, 10:14 AM
we tried bank of america and we were turned done again due to the lava zone. Its a fanny mae or freedy thing which will cover many lenders. We are currently trying to sell it to a intrested party. If that doent work out we will keep looking at other banks.
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