My review below was surprisingly met with a flurry of pushback from Foreclosure Academy trying to get it removed for being "Defamatory Content"! I must have hit a nerve, but Why? Nothing I said was defamatory, but rather an honest review of and fact-based opinion that is intended cause potential students to pause and do enough due diligence to make an informed decision. Not sure why transparency is so threatening. And yes, you have a $500 option (give or take), but I was referring to the thousands of dollars required for the fast track. Making claims that an ordinary person might take as gospel, without the benefit of seeing ALL reviews is disingenuous. My review is honest and fact-based.I've been in real estate and mortgage lending for 30 years and her pitch immediately sounded alarm bells. First, to say that she oversimplifies not only the process, but the numbers is an understatement. For example, If the value of the home is 200k, and the homeowner defaults on a 50k loan, that doesn't leave 100K after the bank dumps it for below market value making your 30%-40% $40-$50 k. Let me unpack this one. First, she makes no mention of the thousands of dollars added to the balance of the first mortgage that make up the foreclosure fees, title, taxes etc... Second, if the homeowner had multiple mortgages, tax leins, HELOCS, etc...those would all eat away at that fictitious $100k you are hoping to get a large slice of.At the end of the day, anyone in a 75% equity position isn't going to be stupid enough to just let it go, especially since as soon as the notice of default is filed, the hard-money lenders will be knocking on their door to give them whatever they need (at a high interest rate) to get them out of default. In my opinion, it is more likely that the potential gains are going to be small, and you'll have to make your money in volume. Not sure why one would have to pay thousands of dollars to learn how to do this, and still need to have an attorney on retainer (more money out of the dwindling pot), when you could get the list of unclaimed funds yourself, hire a real estate attorney and pay for a few hours of his time to provide you with all the documents you need to do business in your state. Then write a script and practice it. All in all, it is definitely a numbers game ( i mean like 1 in every 500 calls might yield a hit), but when thousands of people have that same list, it seems like a lot of money, time, and work for little gain. And at the end of the day, once the former homeowner realizes they have money out there with their name on it, they no longer need you, so you'd have to get them to enter into a contract with you for a finder's fee that they have no reason to sign.Hope this helps anyone thinking this is as easy as the pitch girl makes it sound. Save your money.
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Foreclosure Academy is a leading provider of education and training in the field of foreclosure overage fund recovery. With a commitment to empowering individuals to achieve financial independence through the surplus funds recovery industry, we offer comprehensive courses, coaching programs, and resources designed to equip aspiring entrepreneurs with the knowledge and skills needed to succeed in this dynamic industry.
Driven by a vision of a world where financial prosperity is within reach for everyone, Foreclosure Academy aims to be the premier destination for individuals seeking to learn how to navigate the opportunities presented by mortgage and tax foreclosure overages and helping those who have a rightful claim to the funds. We envision a future where our graduates are not only financially successful but also equipped with the knowledge and resources to make a positive impact in their communities.
Services Offered:
Foreclosure Secrets Course: A comprehensive online course covering the fundamentals of the foreclosure overages industry. Teaches individuals how to build a lucrative business by helping people claim funds owed to them from foreclosures.
Fast Track Coaching Program: Personalized coaching and mentorship designed to accelerate the success of our students in our Foreclosure Secrets course and provide ongoing support.
At Foreclosure Academy, we are dedicated to empowering individuals to achieve their financial goals and realize their dreams. Whether you're a seasoned investor or a newcomer to the world of overages, we invite you to join us on this exciting journey toward financial freedom and success.See more
