REO to P&P? - REO Property Preservation Forum
 
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post #1 of 7 (permalink) Old 07-04-2016, 04:52 PM Thread Starter
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REO to P&P?

How was everyone's 4th? Anyone wind up in the local burn unit? One drunk guy in our party was about a 1/2 inch from going. 3 sheets to the wind and heavy duty fireworks mixes about as well as politics and a family reunionjust sayin. Anyway, my question...

I've got an REO grass cut property that has been on the market for quite a while. ..at least 8 months. It is listed on one of the major websites for sale. Last week I received a P&P initial cut work order on the same property from the same company but a different bank listing. Is this possible or just a clerical error?

I know when I notify them of the duplicate order there will be nothing more than a blank stare so I thought I would ask the intelligent people here about it.

Thanks!
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post #2 of 7 (permalink) Old 07-04-2016, 09:42 PM
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Originally Posted by safeguard dropout View Post
How was everyone's 4th? Anyone wind up in the local burn unit? One drunk guy in our party was about a 1/2 inch from going. 3 sheets to the wind and heavy duty fireworks mixes about as well as politics and a family reunionjust sayin. Anyway, my question...

I've got an REO grass cut property that has been on the market for quite a while. ..at least 8 months. It is listed on one of the major websites for sale. Last week I received a P&P initial cut work order on the same property from the same company but a different bank listing. Is this possible or just a clerical error?

I know when I notify them of the duplicate order there will be nothing more than a blank stare so I thought I would ask the intelligent people here about it.

Thanks!

Check with the broker. Sounds like it reconveyed and got sold off to another bank......
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post #3 of 7 (permalink) Old 07-04-2016, 10:52 PM
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Agreed- We've had a few re-conveyed properties show up with new banks like that...

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post #4 of 7 (permalink) Old 07-04-2016, 11:22 PM Thread Starter
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So another bank bought it? I don't get it. Why would a bank want to buy another foreclosure that didn't sell in 8 months? This thing is on just under an acre and is listed at $45,000. House is a turd and land value is MAYBE 12K.

I would call the broker but, no, that woman is a fruit bat! Everyone talks about good work from brokers...I'd rather go back to Safeguard than work with that woman!!
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post #5 of 7 (permalink) Old 07-05-2016, 06:09 AM
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2nd mortgage just catching up with the property
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post #6 of 7 (permalink) Old 07-05-2016, 08:03 AM
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It also seems like sometimes a property "accidentally" gets sent to 2 different Nat's. Last spring I was working for 2 companies and both were sending me to the same house for estimates. SG and Servicelink. Servicelink and Field assets... And now this summer I've had 2 that were MCS and Cyprexx.
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post #7 of 7 (permalink) Old 07-05-2016, 05:52 PM
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Originally Posted by safeguard dropout View Post
How was everyone's 4th? Anyone wind up in the local burn unit? One drunk guy in our party was about a 1/2 inch from going. 3 sheets to the wind and heavy duty fireworks mixes about as well as politics and a family reunionjust sayin. Anyway, my question...

I've got an REO grass cut property that has been on the market for quite a while. ..at least 8 months. It is listed on one of the major websites for sale. Last week I received a P&P initial cut work order on the same property from the same company but a different bank listing. Is this possible or just a clerical error?

I know when I notify them of the duplicate order there will be nothing more than a blank stare so I thought I would ask the intelligent people here about it.

Thanks!
While back We had a property that was with FNMA, did all initials for FAS, then we get a WO for initials about a year later from FAS onlythis time it was with AHMS, a year later we get initials from AIM...
not sure if some of the latest rounds of MFS "tighten Up" crap stopped all the swapping of mortgages but it is fairly common...

It was actually pretty sweet as at that time I was able to negotiate all service fees. total I believe we got close to 2500 for the initials plus we were getting 135 a month for the re-occurring services. I sure miss the negotiating days

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