Contact Roddy.com, LLC for event and ticket information.
Wednesday, November 28, 2007 from 6:00 PM - 9:00 PM (CT)
" FOR INVESTORS & REALTORS®"
What is a Short Sale? When a bank accepts a discounted or a lower payoff amount than the total amount owed on an existing mortgage. Did You Know? Texas is one of the leading states in the number of properties in foreclosure. In our opinion, there are two factors that increase the need for a licensee to be knowledgeable in how to represent a homeowner in the Short Sale process. First, a homeowner falls behind on their loan due to a hardship(divorce, medical debt, job lay-off, job relocation and escrow shortages). Second, little or no equity in the property due to: interest-only loans, adjustable rate mortgages and low period of ownership(the average foreclosed loan has been in place just 12-24 months).
From November to December of 2005 the amount of foreclosures reached 138,276 nationwide. What this means is that there is an amazing need for a Texas licensee who knows how to acquire and/or represent these properties using the short sale techniques. What We Know? In most cases banks will accept a short sale instead of foreclosing on the property. Believe it or not, lenders do not want to own real estate They are in the mortgage business, not the real estate business.! Recently, HUD has implemented new guidelines for lenders and is giving the foreclosing lender incentives to workout the loan or short the loan in lieu of foreclosing. If you are equipped with the proper tools and system, negotiating a short sale will come with ease. Finally, with the passing of Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (S.256) which was signed into law by President George W. Bush on April 20, 2005, this has made it more difficult for consumers to file bankruptcy. The provisions of this law will dramatically effect the number of individuals that need the assistance of a Short Sales representative.
What will you learn ? Short Sale Overview/Process Where to find Short Sale Leads? Best time to perform a Short Sale Proposal How to contact the Homeowners Lender How to Avoid common mistakes. How to stop the foreclosure auction FHA & VA short sale guidelines Loss Mitigation/Homeowners Assistance Departments What is in a “Short Sale” or “Workout” packet? Prepare a winning short sale package for the lender What is a “Tier Ranking System”? Most of all, from top to bottom - An A thru Z explanation of Short Sale representation that you can begin implementing today ...
Approved for 3 hrs MCE Credit, provided by Foreclosure Listing Service, Inc. (Provider #0414).
www.roddyseminars.com (Training Events)
www.flsonline.com (Foreclosure Data Provider)
Call our office Mon-Fri 8:30am to 5:30pm if you have any questions. 214.593.0074
Roddy.com, LLC & Foreclosure Listing Service, Inc.
5412 W Plano Pkwy, Suite 100
Plano, TX 75093
Phone: (214) 593-0074
Toll Free: (877) RODDY.COM (763-3926)
Roddy.com is the market leader in supporting investors & real estate professionals in Texas real estate. We are the oldest and most respected organization in Texas when it comes to providing education, data, and investment opportunities in distressed real estate.
Our speakers are experienced investors with a broad range of expertise in a variety of proven investing strategies in Texas real estate.
Data/Course Provider: Foreclosure Listing Service, Inc. (FLS) is the largest provider of data and information services on distressed real estate in Texas. FLS provides courthouse data in pre-auction, auction & post auction formats. FLS is also the TREC Provider #0414 for all MCE accredited courses.
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