Fix and Flip Deal- 7500 Greenleaf Road Hyattsville, Maryland 20785 – 97K

Fix and Flip Deal- 7500 Greenleaf Road Hyattsville, Maryland 20785 – 97K

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SHORT SALE CAFE

Conventional Sale-      15-day closing

Property Details:

Palmer Park Subdivision. 7500 Greenleaf Road Hyattsville, Maryland 20785. End Unit semi-detached one level rambler style home. 3 bedroom 1.5 bath separate living room and dining area. Half bath is off kitchen, breakfast bar, off-street parking.   Property needs renovation and priced to sell.

Asking price: 97K

Contact Info for inquiries:

Myrtis Brown    866-337-6820 Extension 1   (email) mbrown@shortsalecafe.com

 

 

 

 

 

 

 

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December 7 Full Press Release on CFPB Action Against RMS… Civil Penalty $325,000

December 7 Full Press Release on CFPB Action Against RMS… Civil Penalty $325,000

CFPB Takes Action Against Reverse Mortgage Companies for Deceptive Advertising

WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) took action against three reverse mortgage companies for deceptive advertisements, including claiming that consumers could not lose their homes. The CFPB is ordering American Advisors Group, Reverse Mortgage Solutions, and Aegean Financial to cease deceptive advertising practices, implement systems to ensure they are complying with all laws, and pay penalties.

“These companies tricked consumers into believing they could not lose their homes with a reverse mortgage,” said CFPB Director Richard Cordray. “All mortgage brokers and lenders need to abide by federal advertising disclosure requirements in promoting their products.”

A reverse mortgage is a special type of home loan that allows homeowners who are 62 or older to access the equity they have built up in their homes and defer payment of the loan until they pass away, sell, or move out. The loan proceeds are generally provided to the borrowers as lump-sum payments, monthly payments, or as lines of credit. Homeowners remain responsible for payment of taxes, insurance and home maintenance, among other obligations.

The Mortgage Acts and Practices Advertising Rule prohibits misleading claims in mortgage advertising. In addition, the Dodd-Frank Wall Street Reform and Consumer Protection Act prohibits institutions from engaging in deceptive acts or practices, including with regard to advertising of consumer financial products or services.

American Advisors Group

American Advisors Group, headquartered in Orange, Calif., is licensed in 49 states and the District of Columbia. It is the largest reverse mortgage lender in the United States. The company ran television advertisements almost daily and disseminated its information kit to approximately 1 million consumers. The information kit included a DVD and several brochures with information about reverse mortgage products.

Through its investigation, the CFPB found that since January 2012 American Advisors Group’s advertisements misrepresented that consumers could not lose their home and that they would have the right to stay in their home for the rest of their lives. The company also falsely told potential customers that they would have no monthly payments and that with a reverse mortgage they would be able to pay off all debts. In fact, consumers with a reverse mortgage still have payments and can default and lose their home if they fail to comply with the loan terms. These terms require, among other things, paying property taxes, making homeowner’s insurance payments, and paying for property maintenance. Moreover, a reverse mortgage is a debt and therefore cannot be used to eliminate all of a consumer’s debt.

Under the terms of today’s consent order, the company must make clear and prominent disclosures in its reverse mortgage advertisements and implement a system to ensure it is following all laws. It will also pay a civil penalty of $400,000.

A copy of the American Advisors Group consent order can be found at:http://files.consumerfinance.gov/f/documents/201612_cfpb_AmericanAdvisorsGroup-consentorder.pdf

Reverse Mortgage Solutions

Reverse Mortgage Solutions, headquartered in Houston, Texas, is licensed to conduct business in 48 states. The company marketed its product through various media, including television, radio, print, direct mail, and the Internet.

Through its investigation, the CFPB found that since January 2012 Reverse Mortgage Solutions’ advertisements misrepresented that consumers could not lose their home and that they would have the right to stay in their home for the rest of their lives. The company also falsely told potential customers that they would have no payments with a reverse mortgage and that they would “always retain ownership” and “can’t be forced to leave.” In fact, consumers with a reverse mortgage still have payments and can default and lose their home if they fail to comply with the loan terms. These terms require, among other things, paying property taxes, making homeowner’s insurance payments, and paying for property maintenance.

The CFPB also alleges that the company misrepresented that heirs would inherit the home, without disclosing any conditions of the inheritance. In fact, heirs frequently are not able to keep the home after the death of a consumer with a reverse mortgage. Heirs are only allowed to retain ownership of the home after the consumer’s death if they either repay the reverse mortgage or pay 95 percent of the assessed value of the home.

The company also created a false sense of urgency to buy the reverse mortgage product and misrepresented that time limits constrained the availability of a reverse mortgage. For example, one call script required representatives to tell potential customers that if they didn’t call back by close of business, they would “turn your file down and you will miss out on a tremendous money-saving opportunity.” In fact, it was not a limited time offer. Lastly, the company misrepresented that a reverse mortgage could “eliminate debt.” In fact, a reverse mortgage is a debt and therefore cannot be used to eliminate all of a consumer’s debt.

Under the terms of today’s consent order, the company must make clear and prominent disclosures in its reverse mortgage advertisements and implement a system to ensure it is following all laws. It will also pay a civil penalty of $325,000.

 

Read Consent Order: Reverse Mortgage Solutions

Montgomery County and Virginia law firms handling FHA case files for…..

Montgomery County and Virginia law firms handling FHA case files for…..

On Craigslist law firms seeking individuals to handle their National clients.,what National Client(s)…. We shall see what particular law firm ;that will try to evict in Palmer Palmer Community or Prince George’s County without paying taxes, fines, citations and/or renovation cost.  Most reverse mortgages produced between 2007-2008 was predatory and/or fraudulent to include companies serviced by Reverse Mortgage Solutions no longer in business or licensed to do business in Maryland.   Guess most law firms to do evictions for National Companies going to say they aren’t responsible for the National Client neglect and property damages. We shall see.   According to HUD upon 30 days notice of a vacancy the property preservation process begins. How many evictions will be made to the properties Brownstone Diamond Properties inspected vacant for over 10 years in Prince George’s County the bank denied cash offers on?

Sent to our office 12/10/2016:

Rosenberg & Associates, LLC is a real estate law firm founded in 2002 to provide
superior services for creditors in the MD, VA, and DC. We have 100+ employees
spread across our two locations in Bethesda, MD and Tyson’s Corner, VA. We
specialize in creditors rights, and our clients consist of national banks and mortgage
lenders. The areas of law in which we specialize include Foreclosure, Bankruptcy, and Eviction.

Job Description

The primary responsibilities of an Foreclosure Data Entry Clerk is to collect information from our clients and external systems in an effort to draft required Affidavits for execution needed to achieve First Legal action. The ideal candidate must possess exceptional attention to detail, possess excellent communication skills, demonstrate professionalism, be accountable, be organized, have ability to prioritize tasks and able to multitask in a high volume environment.

Essential Responsibilities:

• Reviewing data entered to files by prior teams.

• Drafting Affidavits for the attorney, team lead or manager for review

• Upload and email Affidavits for the client to execute

• Communicating and assisting clients via email, client database messages and phone

• Complete document revision requests per client guidelines

• Following team notes and specific detailed instructions, this differs by each client.

• Working with other team members and other teams in the department to successfully move files forward

• Request and upload documents from the client systems to our database.

• Maintaining team queues, waiting queues and following up with outstanding items.

 

Hire A Real Estate Investment Specialist

Hire A Real Estate Investment Specialist

Rather new to real estate investing or a seasoned investor finding lucrative deals can be frustrating; especially with a market full of short sales. 

FANNIE MAE HOMEPATH FIRST LOOK PROGRAM in reality acquisition process 3-6 months even 1 year. Perfect for 1st time homebuyers, non-profits, and buy/hold investors.

Are you tired of agents and wholesalers placing you on an autopilot email lead program without exclusive service or a personal touch! We work one-on-one from start to finish. Our system allows Investors, Realtors, and Rehabbers to move quickly on fix and flip projects closing more deals in local markets. 

FIND YOUR NEXT DEAL OR FIRST PROJECT AT ESTATE SALES AND MULTIFAMILY , and contact a Real Estate Investment Specialist at 240.339.4138.

 

Myrtis Brown, Real Estate Investment Specialist

Licensed with Taylor Properties

Broker Direct: 800-590-0925

Agent Direct: 301-379-3712

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Conventional Real Estate Investor Deals-DC Metro Area

Conventional Real Estate Investor Deals-DC Metro Area

INVESTOR ALERT!!!!!!!!        3RD party assignable contracts not accepted. Lease Option deals not available on any of the listed properties.  No short sales , sellers can close as little as 7 days 

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DISTRICT OF COLUMBIA

1668 Tamarack St NW WDC 20012- Pending Sale

1718-1729 28th Avenue SE WDC -Estate Sale

521 Florida Avenue NE WDC -Rowhouse

1125 16th NE WDC- Lease Ready

550 Newcomb St SE WDC – Estate Sale (Multi-family)

1509 D St SE WDC-Rowhouse

1110 Galloway St NE WDC-Rwohouse

4025 7th St NE WDC-Rowhouse

216 10th St NE WDC

MARYLAND

3025 Dahoon Ct Waldorf, MD

9503 Bald Hill Rd Bowie, Md

10008 Dubarry St Glenn Dale, MD- detached estate sale

7303 Waldran Ave Temple Hills, MD- 1st homebuyer deal

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To schedule a showing and/or inquires contact:

Myrtis Brown, Investment Specialist @240-339-4138

email : myrtis.realestate101@gmail.com

 

 

 

 

 

 

 

1668 Tamarack Street Washington, DC 20012- “An investment with charm”

1668 Tamarack Street Washington, DC 20012- “An investment with charm”

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COLONIAL VILLAGE

Sale Price :     $619,900  (“AS-IS”)

PROPERTY DESCRIPTION

  • Split Foyer Style w/ rear upper level deck
  • 5 BEDROOMS – MAIN, UPPER LEVEL AND BASEMENT LEVEL
  • 3 FULL BATHROOMS- Master Suite-Office, Basement, Upper level
  • Wood flooring main and upper level
  • 2 Fireplaces
  • Wet Bar with space for entertainment, in-ground pool 
  • Privacy Fence
  • Recent upgrade    
  • Open floor plan on main level 
  • Galley Kitchen
  • Florida Room 
  • Foyer
  • Dual Heat fireplace in living and dining room area
  • Front load w/d 
  • Entertainment/Lounge type layout in Basement
  • WALKSCORE – transit 87% and walkscore 73%

MUST SEE TO APPRECIATE!  PRICED TO SALE

This property perfect for homeowner looking to increase living square footage for entertainment and/or seasoned investor

For additional information on loan rates:   DECEMBER 2016 MORTGAGE RATES FORECAST

Recently Sold Home 20012

 

Colonial Village HOMEFACTS

Projected homes values in 20012 expected to rise 3.8% in upcoming year. 1.37% of homes are in the foreclosure process within 20012 zipcode; indicating a lower percentage of foreclosed homes compared to the rest of the District of Columbia zipcodes.

 

ADDITIONAL INTERIOR EXTERIOR PHOTOS

Neighboring Properties

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SEE OTHER 5+ BEDROOMS 3+ BATHS SITUATED IN “COLONIAL VILLAGE” 

  • 2110 Sudbury Place NW Washington DC 20012-   1,079,000
  • 2020 Plymouth St NW Washington DC 20012-  1,599,000

 

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To schedule a showing, request additional information or submit an offer :

1668 Tamarack Street NW WDC 20012

Myrtis Brown 240-339-4138 / 301-379-3712

email: brownstonetransitionalhomes@gmail.com

Realtors and Investment Specialist Real Estate Advantage LLC 

Equal Housing Opportunity

 

 

 

 

 

 

 

REO BROKERS IN MARYLAND- PROPERTY PRESERVATION SERVICES

REO BROKERS IN MARYLAND- PROPERTY PRESERVATION SERVICES

REO BROKERS  in Maryland must be licensed, insured, and experienced prior to accepting work orders/listings from HomePath HomesSAFEGUARD, 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.