Posted by bh/IN on 3/10/10 4:31pm
Msg #326344

NREIS - spoke with the again today......

and Jason Rettinger stated that he knew nothing of a "March 22nd" mailing date for checks.

Reply by Riley/FL on 3/10/10 5:04pm
Msg #326351

Jason emailed the check numbers for 4 signings I did for them on Feb 26 and I just received 4 checks from them on Monday.

Reply by jba/fl on 3/10/10 5:07pm
Msg #326352

So what you are saying is that everyone else is turning them down without sufficient reason?

Reply by Lee/AR on 3/10/10 5:14pm
Msg #326357

Oh, I dunno if it's really 'without sufficient reason'. When a check is written, but not mailed for a week or two...there IS a reason. We know business has slowed; we know this is a large co. with many employees; we know that for the last couple of months, payment has been abnormally slow from them. What's your explanation for this? And how much credit do you give a co. that's obviously having some sort of problem?

Reply by Riley/FL on 3/10/10 5:24pm
Msg #326361

Please don't jump to conclusions.

My point was that there seems to be no rhyme nor reason to their payment schedule. It took me two weeks of hounding them to get paid and now they are caught up, and I won't be taking any more work from them. Jason sent that email to 6 different people and CC'd me and I got paid. So, OP, if you get that email, there's hope. I should have been more clear.

Reply by JanetK_CA on 3/10/10 5:45pm
Msg #326364

That's how I took your post. Hope you're right!

There's also the remote possibility that as we get more into the spring and summer season, they're hoping their business might pick up enough for them to get caught up. I hope that's the case, but I'm not counting on it!

Reply by desktopfull on 3/10/10 5:37pm
Msg #326363

Then he's lying, I'll be happy to forward you the email

from Jason Rettiger to me indicating 4 different dates that checks were issued and never mailed with a statement that they would be mailed on 3/22/10. PM me your email address. Honestly, I don't expect the company to still be open on the 22nd., I think the 19th. will probably be their last day of business and those of us not paid will receive bankruptcy notices to let us know that we will get nothing for our services.

Reply by BillyJack/NC on 3/10/10 5:50pm
Msg #326365

Re: Then he's lying, I'll be happy to forward you the email

You might be right...if you are, then a call to BOA(which I believe is the problem) asking
them for payment on past due closings, or contact to the borrower will be made asking
them for payment! I don't think BOA will want that to be made public

Reply by John/CT on 3/10/10 6:00pm
Msg #326367

Not a good thing. calling the borrower asking for payment n/m

Reply by BillyJack/NC on 3/10/10 6:35pm
Msg #326377

Re: Not a good thing. calling the borrower asking for payment

You want your money for notary services don't you ??

Reply by Linda_H/FL on 3/10/10 6:42pm
Msg #326383

Doesn't matter...you have no recourse against the

borrower...your beef is with the SS and TC...but borrower has paid their fees - they're out of it.

Reply by desktopfull on 3/10/10 6:44pm
Msg #326384

Re: Not a good thing. calling the borrower asking for payment

I believe that may violate the RESPA, not a good idea. (Not giving legal advice....)

Reply by desktopfull on 3/10/10 6:02pm
Msg #326369

You can't go after the borrower, they didn't hire you and

they paid all fees due for their loan, it's not their responsibility to cover their lender's or title company's independent contractors. At this point I don't expect to get paid by NREIS and I'm threw with getting ripped off in this business. The only closings I will do in the future for anyone will be with payment in advance. I'm not a bank and I'm tired of extending credit to these companies who get paid and then pocket my fees for themselves.

Reply by desktopfull on 3/10/10 6:04pm
Msg #326370

Oops, meant "through" not "threw" n/m

Reply by cawest/PA on 3/10/10 7:39pm
Msg #326392

Re: You can't go after the borrower, they didn't hire you and

You can claim your non pmt in your losses on your next return but those days you really have to be cautious who you agree to work for.
As for finding one that will pay you in advance ... good luck!

Reply by desktopfull on 3/10/10 8:13pm
Msg #326401

Re: You can't go after the borrower, they didn't hire you and

"You can claim your non pmt in your losses on your next return..."

Not if you use the cash method of accounting. That only applies if you use the accrual method of accounting.

Reply by CopperheadVA on 3/10/10 8:38pm
Msg #326405

Re: You can't go after the borrower, they didn't hire you and

Very true - I bet that most of us use the cash method and therefore cannot "write off" (aka deduct) non-payment from our income. Even with the accrual method, when you write off an uncollected debt you are basically getting yourself back to square one because you had previously claimed it as income. It's a no-win situation either way. The only thing you can deduct is your expenses incurred for the job.

Reply by Marian_in_CA on 3/10/10 8:05pm
Msg #326399

You can't do that!! (Ask the borrwoer for payment)

The borrower has no obligation to you at all. Your beef is with the entity that hired you.

Reply by John/CT on 3/10/10 6:06pm
Msg #326371

Re: NREIS - No reply to my email, no payment on over due $$ n/m