Overview
Record numbers of foreclosures have radically changed the residential real estate market in the last year and affected all aspects of the practice of residential real estate law, real estate closings, lending and sales. Whether your real estate market has experienced a bubble burst or merely a fizz, your practice has been affected by slowing markets, the subprime meltdown and the record number of foreclosures. In response, mortgage lenders are increasingly entering into negotiated settlements to accept less money than is owed on a mortgage as an alternative to foreclosure. While the short sale is not a new concept, it has seen increased importance as a means of mitigating a lender’s losses from the rapidly rising tide of foreclosures. This OnDemand Webinar will enable you to understand the important role short sales have in your business and equip you to better assist your clients with this foreclosure alternative. The OnDemand Webinar will also provide step-by-step instructions on how to negotiate short sales successfully and address important ethical and professional considerations.
Authors
Benjamin C. Pargman, The Short Sales Service, Inc.
Self Study Credit - OnDemand Webinar
| CBC | 0.5 | | |
| CLE | 1.5 | AK, AL, AZ, CA, IL, MS, MT, NC, ND, NY, PA, VT, WA, WI | |
| CLE | 1.8 | MO, WV | |
Agenda
- The Mortgage Meltdown and Market Forces
- The Demand for Loss Mitigation
- Loss Mitigation Alternatives
- Short Sales and the Economy
- Overview of Short Sales
- What Is a Short Sale?
- Why Lenders Short Loans
- Common Lender Strategies
- What Is a Short Sale Candidate?
- How to Assist a Client With a Short Sale Step by Step
- The Role of the Attorney
- The Role of the Mortgage Professional
- The Role of the Title Agent
- The Role of the Real Estate Agent
- The Real Estate Investor's Relationships With Short Sales
- The Opportunity for New Business With Short Sales
- Ethics and Professionalism Considerations With Short Sales
- The Attorney-Client Relationship
- Conflicts
- Mortgage Fraud
