Demise of short sales and ATC

Demise of short sales and ATC


If you haven’t heard, the state of Maryland has now issued a cease and desist order on ATC, a well known short sale negotiation shop. They rely on a little known statute and make big claims of fraud. You NEED to listen in as we discuss ramifications for short sales now and going forward.

As always, be the first person to send a correct guess of our filming location to support@cornerstonepropertieshomeinfo.com, and win a free gift certificate to Venetian Palace in Edgewood! Check out our blog at http://capitolshortsale.com for more free giveaways and contests, including the free lunch workshop series at a location near you!


Congrats to our last week’s winner Ariana Loucas who won a free gift certificate to Greystone Grill in Columbia, and to all who correctly guessed our filming location! Location last week was Rt 29 & 198 Burtonsville.
More Videos

This is a weekly video series with Short Sale Expert/Attorney/Broker Brian Gormley discussinag
tips, tricks, and general observations in the real estate market with special emphasis on short sales.
A FREE prize will be given away to the first person to correctly guess our filming location each week.
Send your guess to support@cornerstonepropertieshomeinfo.com.



Comments

  1. I did 2 short sales with ATC as a listing agent. On the HUD1 for the first one, they charged a total of $7650 in charges ie. Settlement or Closing Fee, Compliance Fee, Title Services, Courier/Notary Fee, and Judgment and Title Review Fee. It really annoys me because they cut the commission from 6% to 5%. If there is a settlement, who will get the money?

    The second one, we took away from them and closed within 30 days, the 13th month after the property was listed. We had 5 offers on the property, and the approved price went from $231K with 3% closing help to $245K with no closing help. It was approved in August, but the buyer could not get his financing. I sold it again in October and we took it away from ATC in mid February and closed March 18, 2013.

    Thanks

  2. Stew Piddiots says:

    wait, so you think ATC’s fraudulent activities are okay because the banks don’t do everything right? I read all 17 pages and the guys that run ATC should be in jail, so should the agents that have been sending them deals. If a real estate agent was involved in one of these deals and did not catch these activities they were either incompetent, unethical, or on the take. I talked to ATC once about sending them deals and could tell they were dirty. I am all for giving someone the benefit of the doubt, what bothers me about your video is you seem not to be giving them the benefit of the doubt, but to be defending dirty activities as just the way to handle short sales.

    Outlook sorts most of your emails to junk, but the occasional one gets through. I will be unsubscribing the next time I see one.

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