Is anyone using this program? Any feedback would be great!

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Before throwing the "scam" word around, it's always a good idea to do some research first so you eliminate the possibility of ending up with some egg on your face. For example, Jay Kinder the #2 Coldwell Banker agent in the world is a raving fan of Program 3648 and currently has 18 in escrow with them. He uses Program 3648 for ALL his short sale processing. His team closed 651 transactions last year. As far as the "people" you say Program 3648 promotes, take Kyle Krch for example. He's closed over 100 deals since being with Program 3648 (aobut 2-1 1/2 years). You might want to google him. And yes, Program 3648 does the processing for every one of his deals.

Here's a good place to start your research:




VIctor T. Gurrola said:
I average about 3 short sale appointments a week with an average pipeline of 30+ short sale contracts and have never heard of this company or have i found much information on the people they promote on their website. Scam????
Jeremy,

No need to get so defense unless of you have a vested interest, then I cant blame you. Please note that I was simply posing a question since there are so many SCAMS involving short sales you cant blame me/us for being skeptical especially after googled and asking most of my Negotiators on the banks side with none having heard of your company I mean Program 3648. anyways please note the community is here to help navigate short sales and help each other not for any type of self promotion.
VIctor T. Gurrola said:
Jeremy,

No need to get so defensive unless of you have a vested interest, then I cant blame you. Please note that I was simply posing a question since there are so many SCAMS involving short sales you cant blame me/us for being skeptical especially after searching on google and asking most of my Negotiators on the banks side with none having heard of your company I mean Program 3648. anyways please note the community is here to help navigate short sales and help each other not for any type of self promotion.
Well Victor, I have never heard of you, are you a scam? You are right though, this web site is for helping our professional industry to do our job in aiding our clients. Short sales are enough trauma for any home owner and we need to focus on all ways to get them done. Just because we have never heard of a new company, we should investigate and not so quickly condemn. it may be an answer to a problem. True there are many scams but I encourage you to seek further. By the way, are you familiar with the bill H.R.3648 passed by congress in 2007?

VIctor T. Gurrola said:
VIctor T. Gurrola said:
Jeremy,

No need to get so defensive unless of you have a vested interest, then I cant blame you. Please note that I was simply posing a question since there are so many SCAMS involving short sales you cant blame me/us for being skeptical especially after searching on google and asking most of my Negotiators on the banks side with none having heard of your company I mean Program 3648. anyways please note the community is here to help navigate short sales and help each other not for any type of self promotion.
Mark,
I am not saying this company is not legit it’s just I can’t find anyone in southern California who is successful in short sales using it. If you Google me you will find the homes that I have sold or have for sale, most being short sales (not to mention the DRE). We can’t do the same for “Program 3648” and what does the mortgage forgiveness act of 2007 have to do with this company? Actually you don’t have to answerer that for my sake because I’m done with this conversation, not many if any of the veterans members here have defended nor endorsed it so in my eyes that doesn’t bode well, I could be wrong but that will have to be my loss.


Mark Tyree said:
Well Victor, I have never heard of you, are you a scam? You are right though, this web site is for helping our professional industry to do our job in aiding our clients. Short sales are enough trauma for any home owner and we need to focus on all ways to get them done. Just because we have never heard of a new company, we should investigate and not so quickly condemn. it may be an answer to a problem. True there are many scams but I encourage you to seek further. By the way, are you familiar with the bill H.R.3648 passed by congress in 2007?

VIctor T. Gurrola said:
VIctor T. Gurrola said:
Jeremy,

No need to get so defensive unless of you have a vested interest, then I cant blame you. Please note that I was simply posing a question since there are so many SCAMS involving short sales you cant blame me/us for being skeptical especially after searching on google and asking most of my Negotiators on the banks side with none having heard of your company I mean Program 3648. anyways please note the community is here to help navigate short sales and help each other not for any type of self promotion.
this sounds great but is full, any idea on how I can get into it or get advice on how to get leads?
This program looks great! However, I tried to sign up and it is closed. Any ideas? Thanks!

Rhonda Fenwick said:
Sarah, I started using the program a few years ago when I originally obtained my real estate license. I consistently averaged betwen 30-45 short sale listings and had a great success rate. I was awarded Rookie of the year of Coldwell Banker in my state and have since then received a Gold Award annually. I could not have been this successful as a new agent three years ago without the help of Program3648. I have recently been assisting the company with doing some training. Hope this helps. R. Fenwick
Hi Kim,

This is just a suggestion but if the county you're in is full, do you want to explore another county that borders yours?

If that doesn't work or is full too, I would go to the county sheriff's office where you live and ask them how to get sheriff's sale information for properties that have gone to sale (depending on your redemption period, ours is 6 months so we have plenty of time). I would also look at what papers publish Public Notice of sheriff's sale, which should give you more time.

Then you door knock the addresses with the tax record in hand so you can confirm who the owners are and just tell them who you are and that you're there to help. People will put you off at first but keep asking them questions and they usually open up since they want to tell their story. If they understand you care and are really there to help, you'll get lots of listings. I would also suggest the SFR designation and definitely the CDPE designation and then you may want to align yourself with an outside negotiating team that includes an attorney. This will take liability off your plate and will also give your clients access to legal counsel.

Probably more than you wanted to hear but take what you like and throw away the rest!

Kim Carlson said:
This program looks great! However, I tried to sign up and it is closed. Any ideas? Thanks!

Rhonda Fenwick said:
Sarah, I started using the program a few years ago when I originally obtained my real estate license. I consistently averaged betwen 30-45 short sale listings and had a great success rate. I was awarded Rookie of the year of Coldwell Banker in my state and have since then received a Gold Award annually. I could not have been this successful as a new agent three years ago without the help of Program3648. I have recently been assisting the company with doing some training. Hope this helps. R. Fenwick
Hi Nate, Thanks so much for the info. We do not have Sheriffs sales in CA. The only thing I can think of is getting lists from companies of homeowners that are late on their mortgages. I've done that and have sent postcards, but it sounds as tho Program 3648 has special envelopes and letters that they send and have a much better response rate. Seems that are completely full now. I would be happy to do the county next to mine, but can't even access anything now. Do you belong to Program 3648? Any ideas for me on the letters/envelopes? Anything that you would care to share would be greatly appreciated! By the way, I am HAFA certified, and short sale and in foreclosure certified. I'll check into the others. Thanks again!

Nate Gerard said:
Hi Kim,

This is just a suggestion but if the county you're in is full, do you want to explore another county that borders yours?

If that doesn't work or is full too, I would go to the county sheriff's office where you live and ask them how to get sheriff's sale information for properties that have gone to sale (depending on your redemption period, ours is 6 months so we have plenty of time). I would also look at what papers publish Public Notice of sheriff's sale, which should give you more time.

Then you door knock the addresses with the tax record in hand so you can confirm who the owners are and just tell them who you are and that you're there to help. People will put you off at first but keep asking them questions and they usually open up since they want to tell their story. If they understand you care and are really there to help, you'll get lots of listings. I would also suggest the SFR designation and definitely the CDPE designation and then you may want to align yourself with an outside negotiating team that includes an attorney. This will take liability off your plate and will also give your clients access to legal counsel.

Probably more than you wanted to hear but take what you like and throw away the rest!

Kim Carlson said:
This program looks great! However, I tried to sign up and it is closed. Any ideas? Thanks!

Rhonda Fenwick said:
Sarah, I started using the program a few years ago when I originally obtained my real estate license. I consistently averaged betwen 30-45 short sale listings and had a great success rate. I was awarded Rookie of the year of Coldwell Banker in my state and have since then received a Gold Award annually. I could not have been this successful as a new agent three years ago without the help of Program3648. I have recently been assisting the company with doing some training. Hope this helps. R. Fenwick
Let me wrap my head around this.

An agent pays a company for 30-90 day late mortage leads $200 month?
Gets a distressed homeowner who wants to sell and then brings that lead to Program 3648?
So what happens then? Does 3648 get paid again to negotiate?
Are they buyers?
You can buy 30-90 day late leads for a lot less than $200 a month.
So you do all the work AND pay THEM?

So they CERTIFY agents to help homeowners? Certify them in what? Who certifies them?

They formed their "assumed name" in 11/09 and are registered as a "for profit" LLC according to the Kentucky Secretary of State.

http://www.ripoffreport.com/Realtors/BGS3-Program3648/bgs3-program3...
http://activerain.com/blogsview/1517478/seven-red-flags-about-progr...
"But the weird twist is the listing agent somehow charges the short sale buyer 1% of the sales price and makes the buyer pay its negotiation fee, 20% of which is rebated to the listing agent. Why would a buyer agree to pay a commission of 1% to the listing agent and the listing agent's third-party negotiator? #7 red flag."

Their opening paragraphs are enough to steer me away. They open with a statement about the mortgage debt forgiveness act and then don't even clarify WHY they are stating factual information about the act but cleverly name their PROGRAM the same number. One has nothing to do with the other.
Hi Smitty,

Personally I just use them for the leads (not negotiation) and since I've gotten listings I felt it was worth it.

However, if you say I can get 60-120 day late leads for less, I would love to know how/where and for how much. The only other leads I get are from public notice of sheriff's sale and from the actual sheriff's sale records. They are free and I still get 6 months to do the sale but that's still less time.

Would you share your lead source for the late mortgages? I think Kim was also interested. Heck I'm sure everyone is interested.

Thanks!

Smitty said:
Let me wrap my head around this.

An agent pays a company for 30-90 day late mortage leads $200 month?
Gets a distressed homeowner who wants to sell and then brings that lead to Program 3648?
So what happens then? Does 3648 get paid again to negotiate?
Are they buyers?
You can buy 30-90 day late leads for a lot less than $200 a month.
So you do all the work AND pay THEM?

So they CERTIFY agents to help homeowners? Certify them in what? Who certifies them?

They formed their "assumed name" in 11/09 and are registered as a "for profit" LLC according to the Kentucky Secretary of State.

http://www.ripoffreport.com/Realtors/BGS3-Program3648/bgs3-program3...
http://activerain.com/blogsview/1517478/seven-red-flags-about-progr...
"But the weird twist is the listing agent somehow charges the short sale buyer 1% of the sales price and makes the buyer pay its negotiation fee, 20% of which is rebated to the listing agent. Why would a buyer agree to pay a commission of 1% to the listing agent and the listing agent's third-party negotiator? #7 red flag."

Their opening paragraphs are enough to steer me away. They open with a statement about the mortgage debt forgiveness act and then don't even clarify WHY they are stating factual information about the act but cleverly name their PROGRAM the same number. One has nothing to do with the other.
Nate,
Try these:
http://www.homesteaddata.net/
www.responsemakers.com
www.agentpro247.com
preforeclosuredata.net

I find it very interesting at the beginning of this thread that agents have used the program for "a couple years" and technically they weren't even a "name" in the state of KY until 11/09

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