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Working with Lenders – Short Sales, Foreclosures/REO Properties | 6 Hours CE
May 10 @ 9:30 am - 4:30 pm
RECENT NEWS HEADLINES!
Evictions and Foreclosures are suspended through June 30, 2021. What happens in July 2021?
“The COVID-19 pandemic’s effects on some homeowners’ ability to make their mortgage payments could not be more apparent. The seriously delinquent rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 4.26 percent, the highest rate since fourth quarter of 2014.
Working with Lenders and Mortgage Servicers
Short sales and foreclosure happens when the homeowner is experiencing a financial hardship that is unavoidable, involuntary and beyond their control and they cannot afford the mortgage payment.
Each lender and their mortgage servicer haw very specific procedures and processes that must be met. Understanding what they are will help lead and guide your seller and buyer client through the sales transaction smoothly.
Let’s review fundamental practices that are required to get the poor performing asset off the lender’ balance sheet, help the distressed homeowner relocate and the buyer qualifications in working with the seller’s lender.
• Loss mitigation
• Short sale process
• Lenders and foreclosure
• REO asset management
The process of selling and purchasing a distressed property is complicated, requires great details and training to take on the specialized skills needed to complete sales transaction.
(This class will be live video streamed via Zoom. If you are not already familiar with the Zoom platform, please try and familiarize yourself prior to the class. Click here to contact us if you have any questions.)