Jeffrey Dolfinger

Some months ago I blogged about saving two birds from an reo property that were left for dead. a Reuters reporter, Elaine Porterfield, picked up the story and called me for a phone interview. That was that I didnt think much about it again until on December 5th my mother called me to say that her neighbor just said he was watching Rush Limbaugh on TV, and he mentioned my name in connection with a Reuters story about foreclosures and birds. Then an email and more calls.

The story has made it all the way to the U.K. and Quatar, which blows my mind. To all of those who have sent me emails of thanks, thank you, I am glad I could have helped.

I just dont understand why people leave their pets. Shelters are out there. Remember if you have a pet and have to vacate your home please bring the pet to a shelter.

I have attached a link to the story article below and again thanks to all of you who said thank you!

www.reuters.com/article/oddlyEnoughNews/idUSTRE4B45NQ20081205

Be on the lookout a 1978 Corvette Stingray was stolen right out of one of my reo's! There one day gone the next! Not being a motorhead my wife was the one who told me that someone just stole a car worth 20k maybe more as this model is a "classic".

I or course call the State Police and reported the theft. The police didnt know what to do because the car did not belong to me or my client. I was advised that under the current law, no crime had occurred, but because of the value they would take the report and would investigate the matter.

The funniest part of the whole thing was the officers disbelieft that I walked into a home saw the car, took photos of the car, reported it to my client, but never ever attempted to find out the owner. He was just shocked that I didn't care who's car it was.

I explained to him that this year i have come across 3 cars, 1 boat, 1 piano, two brand new pool tables, and 1 brand new hot tub. All we abandoned. Not to mention that on a daily basis I rekey some home that is full of personal belongings which end up in the dumpster. I have become rather immune to caring about why someone doesn't take their property.

To date this is the highest dollar value item that has been stolen. Can anyone beat this, I would be interested to know.

It has been sometime since my last blog, I think it was early March or so. Since then I have literally been working 12-16 hour days between managing foreclosures and managing my life as a father of 4 not one older than 9. Sleep has not been in my vocabulary, its been all about feeding those children. Well I guess my hard work paid off because last week I spent a little under an hour being interviewed by a reporter from the associated press. Late Friday night I received an email that I had been quoted in the AP Newswire. The article was picked up by Cnnmoney.com Forbes.com, Businessweek.com, CBS.com, Foxnews.com and various print newspapers across the country. To me this is an honor, however so small.

Here is a link to the article. A few others from AR were also quoted.

http://ap.google.com/article/ALeqM5iY7tii9ZwSxT1kh0eE7Ap-uIxgyQD914RDF00

www.dolfinger.com

Liens have positions on the title to property, 1st, 2nd, 3rd etc. A 2nd mortgage lien holder can foreclose on a property but their foreclosure action is subject to the lien of the 1st lienholder. So if someone where to buy the home at the auction or from the lender as an REO they would still have to pay off the 1st mortgage lienholder.

Conversely if a 2nd lienholder where to foreclose on a property with 3 or more mortgage liens then every lien, mortgage or not, with the exception of taxes recorded of record on the property after the date of 2nd mortgage would be exstinguished by the foreclosure action of the second mortgage holder.

So when a 1st postion mortgage holder forecloses they extinguish all liens that are subsquent to them with the exception of taxes.

Looking to buy a foreclosure in New York, contact me at www.247REOREALTY.com

This was the question that was in front of me today from a prospective seller, a lawyer. The client wanted to sell her investment property that she had purchased just a few years ago. This was my response.

1) I described my resume which included, REO, Shorts, new construction building and sales, property management, limited re-sale, 1 relo sale, as well as my formal real estate training from the private equity world of formal institutional investments from a due diligence perspective dating back to 1992.

2) I described how I did a CMA versus the resale approach used by most agents and the differences of each.

3) I detailed how I comp 20 or more properties per month for lenders and do an average of 10 insurance inspections per month in which I was paid to see every flaw and would be able to point that out to her before the listing, giving her a chance to fix items if money allowed.

4) I detailed how REO guys do not want to list anything that will not sell as the position is very time consuming and labor intensive. Thus my pricing would most likey be more conservative that most.

5) I told her that I would not take the listing if I truely believed that we could not get her price as it would be a waste of time for everyone.

6) I told her how 90% of my listing come via email with no advertising, thus I would tell it to her straight as I had no need to give a pie in the sky price and wait her out for a price reduction.

Yes, an REO guy can sell re-sale also, maybe better than most in this market.

Selling your home, have it evaluated from the most conservative real estate broker in town. Straight talk on pricing. In the Hudson Valley call me at 845-656-0012 or visit www.Dolfinger.com