Tony Isbell is a seasoned veteran of the real estate auction business. He founded RealtyBid.com, a national leader in online real estate auctions the first company to offer online auction services in 2001. The company has sold more than 25,000 properties exclusively online and was ranked as the No. 1 Sales Team in the U.S. by The Wall St. Journal in 2007 and 2008 and voted one of the Top Ten Small Businesses to work for in the state of Alabama in 2010.
While the primary goal of the FHA's "Claims Without Conveyance of Title" program may be to encourage a faster sale of the property, the CWCOT program involves far more than just arranging for a sale of real estate. To help properly execute the program, here are six areas in which a vendor must perform exceedingly well in order to put a working CWCOT program together.
Every mortgage loan servicer knows the importance of moving REO back into the market efficiently. Even today, when REO inventory is dropping and the foreclosure crisis is behind us, it is still critically important that costs are reduced and loss severity limited during this process. Here's the pain point in the process.