Real Net R they going under?Anybody knows?

Anybody knows? Their website is not active and I heard some rumors.

I “heard”…

They are restructuring and will re-emerge with the same people, same company, but different name. This is because they need to get out from under a lot of properties they acquired in Texas or Florida, I forget which state, which are in foreclosure because their HML buyers haven’t been able to refinance out.

I think their business model will have to change though to meet todays new tough lending market.

I did several deals through them in the past year but don’t know if I will do business with them again.