REO BROKERS in Maryland must be licensed, insured, and experienced prior to accepting work orders/listings from HomePath Homes, SAFEGUARD, and other preservation vendors authorized to sale REO and/or properties in foreclosure. Why no improvement in the streamlining of the REO and maryland eviction process pertaining to foreclosure?
Over the last 10+ years there has been no visible change to the property conditions of FHA insured properties throughout the DC Metro-Baltimore Region. The properties listed by REO and full service brokerages contain bulk trash, extensive damages from neglect/abandonment, mold, and other hazardous material waste. Brownstone Diamond Properties provided initial services for properties listed by licensed brokerages in Maryland serving Greenbelt, Beltsville, Capitol Heights, District Heights, Forestville, Landlover, Palmer Park, Glendale, Glenarden, Lanham, College Park, Laurel, Cottage City, Riverdale, Baltimore County, Baltimore City, Clinton, Temple Hills, Oxon Hill, and Suitland. Most listing agents state the price not negotiable. Many banks use a BPO as a set price even if the appraisal report show the depreciated value as-is.
MD REO AGENTS
Many agents Brownstone Diamond Properties worked with in the field lacked background experience in loss mitigation, short sales, and foreclosures or had no interest in a subject property based on the bulk inventory assigned referring buyers to Fannie Mae website for bidding instructions. Gregory Bennett with Exit Bennett Realty supervises over 100+ agents with a revoked Broker License which has an affect on the industry and inventory of short sales, bank-owned property. We found many of the agents licensed under Exit Bennett Realty supervision and ownership can careless of his revoked. Gregory Bennett offer agents, the public and their clients free lunch and learn sessions in Greenbelt for Real Estate Investors. How many REO listing brokers in Maryland?
Who is responsible for the initial services and upkeep of vacant REO Bank-Owned and foreclosed properties insured by FHA? Which agency regulate foreclosures and REO Servicers?
Has any found SALVATION ARMY , United Communites Against Poverty, or a HOPE Housing Counselor to be helpful in a housing crises? Please share your experience in working with either of these organization.