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Updated almost 16 years ago on . Most recent reply

User Stats

241
Posts
34
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Luiz Souza
  • Real Estate Investor
  • Gainesville, GA
34
Votes |
241
Posts

LM FEE ILLEGAL

Luiz Souza
  • Real Estate Investor
  • Gainesville, GA
Posted

Got a phone call from my Agent today & according to a meeting he had with both of his brokers if you are not a licensed mortgage broker or realtor you are breaking the law by negotiating a SS in the borrower's behaf and collecting a fee. So I guess good bye to the A to C LM FEE. Are they right? or Where can I find this out with details? Does anybody know?
Thank you

Most Popular Reply

User Stats

564
Posts
239
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Sam M.
  • Real Estate Investor
  • Craigmont, ID
239
Votes |
564
Posts
Sam M.
  • Real Estate Investor
  • Craigmont, ID
Replied

It seems to me by looking at your posts over the last few months that you might be having trouble with short sales! Just for a few examples:
http://www.biggerpockets.com/forums/103/topics/51689-more-bad-news-about-sss-
And
http://www.biggerpockets.com/forums/103/topics/48800-second-killing-the-deal
And
http://www.biggerpockets.com/forums/103/topics/49647-short-sale-coming-to-an-end-
And
http://www.biggerpockets.com/forums/103/topics/48932-freddie-fraud-

What is the deal? I would recommend some changes to your business plan if you are having that much trouble! Like outsourcing your negotiations. Seriously!

I say it not out of spite just as an observation that you have started quite a few negative threads about SS's of late.

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