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[+] He operates the largest foreclosure law firm in Massachusetts - Mark Harmon - Leigh Attridge/MA (1 reply)
8/7/2011 9:05:51 AM (4950 views)

[+] A Novel Approach to Resolving the National Debt - Kevin Ahern/CT (9 replies)
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[+] Abstract Warehouse - John Sauers/NY (3 replies)
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SJC Ruling provides boost for those in eviction - Leigh Attridge/MA
8/4/2011 3:00:04 PM (3970 views)




[+] Software question - F P/VA (3 replies)
8/4/2011 7:48:24 AM (3263 views)

[+] Foreclosure in VA - michael rafferty/VA (2 replies)
8/3/2011 10:09:02 AM (3167 views)

[+] Another Random Question - Brad Bradbury/PA (16 replies)
8/1/2011 8:39:51 PM (3585 views)

[+] Random Question... - Branden Rodgers/OH (3 replies)
8/1/2011 4:29:33 PM (4622 views)

[+] This is not really about fishing..... - F P/VA (3 replies)
7/31/2011 7:45:20 PM (3539 views)

Paying for Title Insurance - Leigh Attridge/MA
7/31/2011 10:29:11 AM (4098 views)

[+] Optional History Classes in Public Schools? - William Pattison /CA (3 replies)
7/29/2011 7:02:10 PM (4938 views)

[+] BOA Demolishing Homes - Leigh Attridge/MA (1 reply)
7/28/2011 6:42:24 PM (4530 views)

[+] Software advice - Rebecca Cowart/MS (7 replies)
7/28/2011 3:49:41 PM (3422 views)

[-] Guaranteed Payment System - Scott Aduddell/MO (14 replies)
7/27/2011 11:07:56 AM (3592 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/27/2011 11:59:06 AM (5867 views)
Re: Guaranteed Payment System - Kym/NJ
7/27/2011 1:21:25 PM (5781 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/27/2011 5:19:26 PM (5907 views)
Re: Guaranteed Payment System - Randolph/VT
7/27/2011 10:08:53 PM (5849 views)
Re: Guaranteed Payment System - Branden Rodgers/OH
7/28/2011 3:27:05 PM (5738 views)
Re: Guaranteed Payment System - Scott Aduddell/MO
7/28/2011 8:38:00 PM (5832 views)
Re: Guaranteed Payment System - Patrick Scott/IL
7/28/2011 11:45:07 PM (5812 views)

I think I may be missing something here.  Is the client actually releasing funds into an escrow account, to be held until the agreed upon payment date?  And, if so, who controls the escrow account(s)?  Is that how the client commits to payment?

If the client is required to release funds prior to downloading the search, then the money's gone.  So why not pay the abstractor right then and there?  Why wait until some future date?  Unless, that's how you would earn your profit, from interest on the account(s), in which case, I applaud your ingenuity.

I doubt, however, that it will ever get off the ground.  There are any number of reasons why the client does not pay the abstractor up front.  And I don't think adding an extra step for them to get their product is going to do much to induce them to turn their accounting systems upside down, as well as their order production and management systems - which often involve the abstractor typing the report directly into their system. 

I would not be the first to sign on to your program, because then I, and those who join me as your clients, are going to lose half of our customers right off the bat. 

And what about this?  If you control all that money destined for abstractors, what's to stop you from running off with it at some point?  Wouldn't be the first time an escrow account was raided.

Nice idea.  And good for you, thinking outside the box.  Unless I'm misunderstanding how it would work, which would not be the first time, it ain't gonna happen.

 

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Re: Guaranteed Payment System - Scott Aduddell
8/1/2011 4:45:24 PM (5692 views)
Re: Guaranteed Payment System - Branden Rodgers/OH
8/1/2011 3:36:40 PM (5676 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/29/2011 10:43:01 AM (5893 views)
Re: Guaranteed Payment System - William Pattison /CA
8/1/2011 11:47:23 AM (5611 views)
Re: Guaranteed Payment System - John Campbell/CA
2/6/2012 8:16:07 PM (4665 views)
Re: Guaranteed Payment System - Scott Perry/PA
2/8/2012 9:25:08 AM (4417 views)
Re: Guaranteed Payment System - Robert Franco/OH
2/8/2012 10:34:24 AM (4423 views)


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