Washington state ruling end of p&p as we know it - REO Property Preservation Forum
 
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post #1 of 7 (permalink) Old 08-02-2016, 09:02 PM Thread Starter
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Washington state ruling end of p&p as we know it

This ruling could be the end of P&P as we know it. Stage is now set for other lawyers to make a buck. I love it. I hope it destroys all these thieving sub of a sub of a sub outfits. Could be great for the contractors in the long run. Just the freeze damages alone.
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post #2 of 7 (permalink) Old 08-11-2016, 06:34 AM
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post #3 of 7 (permalink) Old 08-11-2016, 07:18 AM
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post #4 of 7 (permalink) Old 08-11-2016, 07:28 PM
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This ruling could be the end of P&P as we know it. Stage is now set for other lawyers to make a buck. I love it. I hope it destroys all these thieving sub of a sub of a sub outfits. Could be great for the contractors in the long run. Just the freeze damages alone.
It will only be good for contractors (BOTG) that can withstand not having work for at least 6 months, most likely much longer than that. This ruling has killed pre-foreclosure work in Washington State; with no end in sight. There is literally no new work. If this spreads nationally, it will kill everyone; Nationals included.
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post #5 of 7 (permalink) Old 08-11-2016, 07:46 PM
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The way I see it is, the "good" contractors

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It will only be good for contractors (BOTG) that can withstand not having work for at least 6 months, most likely much longer than that. This ruling has killed pre-foreclosure work in Washington State; with no end in sight. There is literally no new work. If this spreads nationally, it will kill everyone; Nationals included.
are the ones who will suffer. The one man show or small crew will easily scramble on to something else.

The guy with 20 in house staff and a few subs is going to die a quick death.
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post #6 of 7 (permalink) Old 08-12-2016, 08:45 AM
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Thank you. I agree this will be an important decision that changes the game.
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post #7 of 7 (permalink) Old 08-22-2016, 09:31 AM
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This paragraph leaves a lot of questions to be answered:

"The second question, which will be left for discussion in future blogs, involved whether a servicer could only gain access to foreclosure properties through the “judicial appointment of a third party receiver.” In a victory for the servicer community, the Court concluded that the receivership process was not the sole avenue open to the foreclosure servicer."

But, the decision may well change the way we do things, or end some of the things we do.

Yes, I have regrets. There are things I wish I hadn't done . . ..things I should have done, but indeed, there are many things I'm happy to have done. It's all in a lifetime.
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