Matt Kofsky's (mattkofsky) Blog

I have 6 bpos due today. I will get them in on time. I have 4 bpos due tomorrow. I will get them in on time. I have never been late without contacting the company and explaining the problem. Why then do I get 5-10 phone calls a day asking me if my BPOs will be in on time? I really do not need mor...

I got another of my favorite email ads today.  It was for something.  It sounded interesting.  But they ended the ad with "It only costs $500.  If you get just 1 sale from this product, it will pay for itself many times over."  To me that is a big sign not to buy whatever they are selling.  When ...

I have seen several blogs where a real estate agent describes a deal that the bank turned down.  Some seem outrageous.  Basically for the bank, it is simple economics.  If I do a loan modification, I get A dollars.  If I do a short sale, I get B dollars.  If I foreclose, I get C dollars. The gove...

I recently changed insurance companies.  As part of the process they ran my credit score.  It came back lower than I expected.  In the notes section it said that I had applied for too many credit accounts recently.  This surprised me since I have not applied for any new credit in a long time.  Th...

I went to the "Advanced BPO" class at the 5 star conference. These are some random notes. 1. Get your BPOs in on time. I have a BPO that was due yesterday (Saturday). There is a problem. I called and emailed. Oops, the company closed 4pm Friday for the weekend. There is nobody there to solve the ...

Wells Fargo now allows you to see your ratings and how they rate you.  I found 3 mistakes on my rating.  I sent them an email about the mistakes, asking them to correct them.  You should check your ratings and correct any mistakes.  The higher you are rated, the more likely you are to get more li...

 You or your spouse get laid off.  It has been a few months and you have not found a job.  You have enough savings to last a year.  Do you start a short sale now or wait until you have used up your savings?  Does the time it takes to do a short sale influence your decision?  Do you take money out...

Our board has stated that it is ok to put a sign and lockbox on a property before it is listed if the seller approves it.  We always put 2 lockboxes, one from our mls, and a workers lockbox.  Our real estate office has a weekly email that it sends out to all of our agents.  We have a coming soon ...

I do REOs and BPOs.  I check this blog and the main thing I see are questions from people about how to get into the REO and BPO business.  I see very little from people who are actually do REOs and BPOs.  Why is there very little discussion about better way to do things?  Is it because you are to...

I just saw this in the comments section of a property. "No financing available. Cash only. Purchase this property for as little as 3% down. This property is approved for Special bank owner mortgage and Renovation Mortgage financing."