Replies to This Discussion

Permalink Reply by Michael Hayley on July 26, 2013 at 4:41am

There are a number of articles on the company in Google. 

Permalink Reply by Dick and Dixie Sells on July 26, 2013 at 4:45am

Yes, they are Blackstone, which is a large buyer of properties here. Still that should not keep them from being a purchaser as long as they are paying the market rate- what BOA would accept from any other buyer - which they are. This is a total arms length transaction, their money is green and this is America! They are buying non short sales as well in our area. 

Permalink Reply by Keith Maahs on July 26, 2013 at 5:01am

How odd. I have had 2 closings with them. They have not been Bank of America.

Have you tried direct messaging on Twiiter? http://twitter.com/#!/bofa_help 

You need to sign up at Twitter if you are not a member.

 

Permalink Reply by Vickie Hunt on July 26, 2013 at 5:05am

Just an FYI, I just closed a short sale with IH2 as buyer 7/2 but was with Wells Fargo and Chase as the 2nd.

Permalink Reply by Dick and Dixie Sells on July 26, 2013 at 5:06am

I know we have done other closing with them also. A heavy hitter in our area. Yes we did the twitter thing. On twitter   @tampabay2u

Thought others with deals in with them should know this and not have the shock we have received.

Permalink Reply by Kevin - Greenville, SC on August 2, 2013 at 6:41am

Just curious.  Who at Bank of America told you this? How high up the food chain did you escalate this?

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on July 26, 2013 at 5:04am

As Michael said - Just Google "IH2".  They are owned by Blackstone.  Also, Look at Blackstone on Wikipedia to see what they own and control.  If you read many of the articles you will find they are buying hundreds if not thousands of properties all over the USA mostly in areas that were hit big by the downturn.  Some may say that's a good thing because it's bringing values up BUT, those values are no good when no one else can buy except Blacktone / IH2.  If it continues, they will OWN the Real Estate Market and therefore OWN & Control YOUR income and your neighborhood. 

If you look at the nationwide trends, there are a number of large investment firms / servicing entities / auction companies & banks who are either buying or controlling entire markets.

 

What if you wanted to sell your house and because a certain investment company has bought everything available in your area do you think you will be able to sell - HELL NO - except to that entity at a price they want to pay which may not be your price or at market value.

 

I have no idea why BofA may have blocked them from buying but just do a little research and add a little cynicism - you'll figure it out.............

Permalink Reply by Mike Linkenauger on July 26, 2013 at 5:24am

Blacklisting does happen.

Permalink Reply by Keith Maahs on July 26, 2013 at 5:47am

A message from one of my agents when I sent out a note to watch out for any short sales coming up with IH2:

     Hi Keith-

     All I can say is whew!!  Just closed (on Monday) my first-ever short sale listing with BOA & IH2 was the buyer.  Boy, am I glad that is over!

     Lisa Rawson

I don't know if she got in under the wire or not but it sounds like if the loan was approved it will close but future transactions should be questioned up front with Bank of America.

Permalink Reply by Pattilynn Guilford on July 26, 2013 at 6:06am

There are many hedge fund investors who having made 17+ trillion in the 'collapse' (see FCIC Summary) are back in the market purchasing under different names with links back to other government agencies. Yes, prices are increasing ... yes, they are renting .. but no - why would they sell? They will make monthly income and possibly even Section 8 money from the government. If they don't sell and only rent - this country will be a nation of renters - not home owners - and there will be no regulated rent control. Think about it. Real Estate as we knew it is changing with big money investors. 

Permalink Reply by joe beauchamp on July 26, 2013 at 6:40am

Wow, thx for pointing that out. I disagree with playing games to stop that sort of purchase, but it is pretty clear that real regulation of the big boys is - well, they are "too big to" regulate with our current gov't. Sad, cut education, road repair - a nation that only knows how to consume, becoming a renter nation - yuck. (but I live in NJ where the taxes are so high, we are renters of the state, anyway...)

Permalink Reply by joe beauchamp on July 26, 2013 at 6:08am

BofA has overstepped its authority in the past. It would probably be good to contact the investor directly to see if this comes from the investor and if so, why. It can't be legal that an investor/servicer can discriminate against a buyer arbitrarily.

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