Americans Are Feeling Good About The Economy … Inspectors Are Moving Far Away From $3 Mortgage Inspections

Many of the Mortgage Order Mills (MOMs) are having a difficult time finding mortgage field inspectors willing to perform $3 mortgage inspections which “maybe” yield a profit of $1.50. The startup costs for a background check and E&O insurance is about $1,265. You will need an expensive digital camera with a date-time stamp and GPS capability. The wait time for the first pay check is sometimes 60-days.

Some of the MOMs are offering new mortgage inspectors a HUGE jar of Nutella as a signup bonus for $3 mortgage inspections. The strategy is that you will get a SUGAR HIGH and sign their 60-page independent contractor agreement which includes a 5-year obligation to stay on. You will love the Nutella. The sugar highs sometimes last for days. You should not sign any legal documents during that time.

You will wear out your car serving huge service areas which will include high-crime neighborhoods. Your vendor manager will say that is is okay to go into backyards and peep into windows as you will be exempt from complying with all federal and state laws. The vendor manager knows the law from watching re-runs of the TV program Boston Legal. You will be up late at night processing reports and the Nutella will help keep you awake.

The “Chicks” will love your worn-out car.

What would Adolf Hitler say about $3 mortgage inspections?

How Much Are You Making Cutting Grass At Foreclosure Properties?

I talked to a property preservation specialist earning $7.50 for grass cuts ordered by a Mortgage Order Mill (MOM). He was a roofer and he performed some grass cuts to make some extra money. Was he really making any money on the grass cuts at $7.50 a cut? You decide! He could not say NO and he was hurting himself and also hurting YOU.

Mortgage Order Mill (MOM) outrageous and unaudited GREED is killing the mortgage segment of the industry.

The greed of the MOMs is killing the mortgage segment of the industry? Does HUD, VA, Fannie-Mae and Freddie-Mac know the actual fees paid to the property preservation specialist? No, they don’t and they don’t ask. Discounts are never discussed in the presence of  officials from HUD, VA, Fannie-Mae and Freddie-Mac. That needs to change. The property preservation specialists need to grow a backbone. Report low fees to SOFI and we will report the fees to HUD, VA, Fannie-Mae and Freddie-Mac. Of course, I expect many of you to do nothing and that is your mistake.

Lawn & Landscape data shows that the average landscape owner salary was about $69,629.  How does that compare with what you are earning cutting the grass on foreclosure properties? How many $7.50 grass cuts are needed to show a profit of $69,629 for the year?

PayScale and other salary estimators offer average annual earnings figures for small business owners ranging from $61,919 to $111,000. The national average salary of a small business owner with 10 to 19 years of experience (the average length of a landscape business is 15 years) is $70,372, PayScale reports.

According to Lawn & Landscape data, landscape business owners are on the low end of this range at $57,573, according to our February survey. In last year’s surveys, Lawn & Landscape recorded the average owner salary reaching $69,629, still slightly below national U.S. averages when taking all industries into account.

A majority of contractors struggle with paying themselves a fair wage. Nearly half of contractors responding to a Lawn & Landscape survey said they thought they’d be making more money running their own landscape businesses when they started out. Only 21 percent say they pay themselves a fair market value salary based on industry benchmarks. Another 23 percent say they draw less than the fair market value salary and need to find a way to raise their salary to a better level. When asked how they figure their salaries, the majority of owners – 30 percent – said: “It’s trial and error. I take whatever is left after expenses and bills are paid, so I’m not sure what I’m going to make each year.”

Email your comments to richard@law.name

New Kansas City Law Has No Teeth … Just Like This Old Toothless German Shepherd

KANSAS CITY, MO (KCTV) – Abandoned houses that are left unkempt and littered with trash are problematic for many neighborhoods in Kansas City and Independence. A new law, Senate Bill 111, will help these cities find those irresponsible homeowners. The homes are eyesores: ugly, dangerous, and magnets for vagrants. According to city officials, Kansas City has more than 16,000 of them.

The new law requires property owners in Kansas City and Independence to provide the name and address of a real person. Wood said more than 3,300 abandoned properties in Kansas City are owned by LLCs, which are hard to track down for code violations.  Some homes in the area are owned by LLCs in Las Vegas and in Australia.

Sure … provide notice of problems. The best way to solve the problem is huge fines … abatement … liens …. condemnation … and tax sales of the properties. The city has 16,000 property problems and Senate Bill 111 will not cure the problem. The city needs a dog that has some teeth. The homeowners don’t want to be found and when they are found they will not take an action to cure the problem. Problems are not cured even when the city is in contact with homeowners.

The Economy Will Be Better In 2017 … Watch The Mortgage Order Mill (MOM) Pigs Pop

The mortgage segment is DEAD. Mortgage delinquencies and foreclosures are at an 8-year low. The June jobs report was a great report. The mortgage segment is the home of $3 mortgage inspections and 99.5% of the fraud, greed and corruption in the industry.

Foreclosurepedia.Org reported to me that one of the Mortgage Order Mills (MOMs) is paying $18 a cubic yard for debris removal when the HUD cost allowable is $50. Greed is on the rise as some MOMs … the big fat pigs … are on life support. It’s best to avoid the mortgage segment. That popping sound is the sound of dying MOMs as their lungs collapse. “Pop goes  another pig”.

There a huge risk of not getting paid for work performed as these MOMs cannot continue to survive.

HUD Secretary Ben Carson Discusses His Policy On “Fairness”

On March 6, 2017, Secretary Ben Carson said this to HUD employees:

“One of the things you will notice in this department under my leadership is that there will be a very big emphasis on fairness for everybody,” Carson told the staff. “Everything that we do, every policy; no favorites for anybody, no extra for anybody, but complete fairness for everybody. Because that is what the founders of this nation had in mind, and if you read the Constitution, it becomes very clear that that was the goal.”

As a speaker at the 2013 National Prayer Breakfast, Dr. Carson quoted Proverbs 11:25 and said “The generous prosper and are satisfied: those who refresh others will themselves be refreshed”.

There is too much greed, fraud and corruption in the Mortgage Segment of the industry. Some of the Mortgage Order Mills are greedy bastards that are hurting field service representatives and hurting taxpayers. Some of the Mortgage Order Mills … with their fraud … are more than hurting people … they are destroying the lives of hard working people.

I am hopeful that the “Think Big” author Secretary Ben Carson will bring attention to solving the many problems in the Mortgage Segment of the industry.

Paul Williams at Foreclosurepedia.Org sent me an email this week where he identified a Mortgage Order Mill (MOM) who was paying contractors $18 a cubic yard for debris removal when the HUD cost allowable is $50. This is grossly unfair. About one-third of the cost allowable was being paid to the contractor and the MOM was keeping two-thirds. You want to avoid such contractors.

The name of the Mortgage Order Mill has already been reported up the line to Craig Karnes at the HUD’s Atlanta Contracting Operations Office.

Email Richard@law.name and tell me if you have been treated unfairly by a Mortgage Order Mill. Tell me your story about fraud, greed and corruption in the Mortgage Segment. Let me help move your story up the chain of command at HUD.

Complete fairness for everybody is the policy at HUD.