Comments on: Huntington National Bank: Are you freaking kidding me? From deep with the WTF files

By: shocked

shocked — Sun, 21 Nov 2010 09:25:42 +0000

How do you walk away from the addendum Do you need a signed release. We handed in a very carefully written AOS and the response was an addendu from hell. We are not signing it but I want to be sure that we are free and clear of it.

People need to be aware of what is going on. It is criminal and they are not playing by the rules. Who let them off the hook. How can they rewrite the definitions of the menaing of terms in a real estate contract.

By: BiggerPockets Hosts The Real Estate Blog Carnival #159 « Buying or Selling a house in Kansas City, Leawood, Overland Park

Tue, 30 Mar 2010 05:40:54 +0000

[...] estate blogger, Jay Thompson, writes about a frightening trend that is happening in the REO space. Huntington National Bank: Are you freaking kidding me? From deep with the WTF files looks at how one bank is placing crazy things in their addendum s that no home buyer should stand [...]

By: Jay Thompson

Jay Thompson — Wed, 30 Dec 2009 09:48:00 +0000

Actually Bob, the last thing I'd like to see is a return to buying with no money down. I've written plenty here about how the ridiculous access to loans was a big part of the housing crisis.

What Huntington (and many other banks) are doing has absolutely nothing to do with extending financing.

You can call it whining, I call it protecting my clients interests. Sorry, but that's my job.

Some of these banks addendum's take away many things that protect the consumer. Ironically, they are also damaging THEIR investors with their ridiculous demands.

By: bob jones

bob jones — Wed, 30 Dec 2009 08:56:05 +0000

Sounds like alot of whining to me.

Guess you want a return to buying with no money down.

Sad.

By: Treasury Department Listens To Ideas on Easing Credit Crunch | Real Estate Industry Blog

Sat, 28 Nov 2009 01:59:58 +0000

[...] Steinour, chairman and CEO of Huntington National Bank in Columbus, Ohio said the forum provided a needed focus on easing the credit crunch for small [...]

By: Huntington National Bank Needs An SEO Army

Huntington National Bank Needs An SEO Army — Mon, 23 Nov 2009 13:39:25 +0000

[...] And because I have a few friends on Twitter, I couldn’t help but notice when The Phoenix Real Estate Guy (aka Jay Thompson) wrote a post about Huntington National Bank. [...]

By: jonathanblackwell

jonathanblackwell — Thu, 29 Oct 2009 20:41:31 +0000

I got a contract last week with a $500 per diem. It was a 203K reno loan, I refused to take the loan with that in the contract.

By: concerned consumer..

concerned consumer.. — Sun, 18 Oct 2009 03:36:56 +0000

Here is something from the WTF files and I don't know if this is illegal, but on a number of levels I have to say I think it's incredibly unethical…..and yes, I'm naming names as this can all be verified and I dknot know who all else to turn to to look for any answers…I recently went through a short sale on my home and was successsful thanks to a wonderful, fair, highly professional realtor with a big-name realty company. Initially, I interviewed a couple of other realtors, including hiring the company of Curtis Johhnson Realty. The primary reason I didn't go with them, they wanted a non-refundable retainer fee that they started to tell me would be many thousands of dollars (and with no guarantee of actually cclosing), but then continued to reduce it but wouldn't budge any lower than a couple of thousand dollars. What was also troubling is that they were going to then only offer 2% commission to the buyer's agent. I know the margins can be more uncertain, but most agents representing short sales offer at least 2.5%, and many more a full 3% (yes I understand it's negotiable but a higher fee will attract more buyer's agents). For these reasons I went elsewhere. After negotiating the sale of our home with an offer acceptable to the bank, we went looking for a home of our own. We looked at bank-owned as well as short-sale homes alike. Ironically, one of the homes we were interested in was a short-sale listing from Curtis Johnson Realty. To make a long story short, they wanted me, as a buyer, to pay the expenses incurred by their short sale sellers in obtaining a company called Vanquish, Inc. This fee was $4000 and they claimed they were highly reputable with country-wise expeirence and success (this can be found, apparently as an attached document to their listing on the MLS). Well, I'd not ever heard of a broker representing a seller and then trying to squeeze additional money from the buyer of the property, and my agent was able to negotiate a short sale with the bank and wasn't asking for any additional $4K to do the negotiations. Thank God for all the info on the internet! I did some searching and found that Vanquish, Inc. was under the name of Curtis Johnson's wife. Hence, this so-called third party was actually a shell company for Curtis Johnson Realty.So, for those keeping score, is this really what this industry has come to…..by my scorecard here's how this looks via Curtis Johnson's business model:Charge the seller whom they are representing several thousands of dollars in up-front, non-refundable retainer fees.Limit the number of potential buyers who will see the home while simultaneously keeping more for their company by offering a mere 2% to buyer's agents.To top it off, let's also stick it to that buyer agent's client by charging them an additional $4K to add to his company coffers.In all my life, I'm not sure I've ever seen such an attempt toswindle about every party involved in a real estate transaction. It's truly appalling.BUYER & SELLERS BEWARE!!!!

By: Bruce Dietz

Bruce Dietz — Sun, 27 Sep 2009 12:53:30 +0000

I have been fortunate to avoid such insane addedums during my previous REO transactions. I will educate my clients on avoiding Huntington National Bank. It would appear this bank is attempting to off set their asset ratio by keeping your client's earnest money. The banks I've dealt with actually want to sell the property.

By: Are You Having Problems Like This? : California Mortgages

Are You Having Problems Like This? : California Mortgages — Wed, 23 Sep 2009 23:52:02 +0000

[...] some home buyers are having problems with having banks like Huntington National Bank wanting them to sign documents before they will even look at their offer. Dear Huntington National [...]