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Articles from art lee | Selfgrowth.com
- Sense of Urgency can Lead to Faster Lender Response Times - by Submitted on Feb 01, 2011 from art leeToday I’m going to talk about how creating a sense of urgency can produce faster lender response times with it comes to short sales. When a loss mitigation negotiator has 500 to 800 files to work on, almost every one of those files is seen as urgent to an agent. Foreclosure time lines may seem ...
Views: 1545 - 10 Truths about Loan Modifications - by Submitted on Jan 14, 2011 from art leeLoan modifications are still be a tough option to achieve. This is very true. There have been a lot of reports from the media that talk about the droves of scam artists that are taking advantage of homeowners in today’s ailing real estate market. We want to shed some light on loan modifications, ...
Views: 1171 - Follow through with your commitments - by Submitted on Oct 07, 2010 from art leeThe timeline for the short sale process can be extremely long and will test your patience. Once a file is submitted to the lender, it is processed according to the bank timeline. While you may be limited in your ability to try and speed up the process, you do have the ability to avoid items or ...
Views: 1379(5 votes) - Document All Conversations and Transaction Details - by Submitted on Oct 07, 2010 from art leeFor all of our short sale transactions, we log the date and details of every conversation, fax submission, and commitments made. Keeping meticulous records show the level of professionalism that you bring, and inspire the trust and cooperation with your bank representative. When we have a call ...
Views: 1321(5 votes) - Always Get the Preliminary Title Report - Short Sale Education - by Submitted on Jun 26, 2010 from art leeThe Preliminary Title Report provides us with a wealth of information as we prepare to list and market a short sale listing. This information helps us develop a strategy, find tools, and streamline our efforts with the short sale process. Upon the initial interview with a potential client, there ...
Views: 2162(5 votes) - Top 10 Negotiation Strategies - by Submitted on May 28, 2010 from art leeNegotiating with the foreclosing lender is the best option to stop a foreclosure. Lenders are in the business of loaning money, not owning homes. Many Real Estate Agents shy away from working on Short Sale transactions because they get frustrated with their mediocre results. Instead of ...
Views: 1933(6 votes) - Short Sales Education - 21 Types of Property Liens - by Submitted on Mar 19, 2010 from art leeIn any short sale transaction ALWAYS run a title report to view all the liens attached to a property. You must account for all liens on a property to qualify whether or not it is a short sale worth pursuing. Not understanding the different types of liens that can be attached to a property can ...
Views: 2274(3 votes) - Approved Short Sale Qualifications - by Submitted on Feb 22, 2010 from art leeThe most important activity when deciding to pursue a short sale deal is to determine whether or not the homeowners situation would qualify for a short sale approval. If this task is not done, you could be working on a “dog” deal that has no chance of closing, therefore wasting your precious ...
Views: 2790(23 votes) - Why Homeowners Need to Consider Short Sales - by Submitted on Feb 22, 2010 from art leeThere have been so many news articles about homeowners walking away from the financial obligation to their mortgage. In response, there has been a lot of opinions about how these homeowners are not taking an ethical stance and avoiding their responsibilities. The result will be billions of ...
Views: 1497(6 votes) - 2010 Short Sale Education Trends - by Submitted on Feb 09, 2010 from art leeIf you are a Real Estate Professional, you are hurting yourself by not pursuing short sale opportunities. If you had a previous client in trouble, would you be able to serve them? Would you just walk away and hope you find another client who isn’t in trouble? If you are looking to stay in Real ...
Views: 1515(10 votes) - The Terms of Foreclosure - by Submitted on Feb 05, 2010 from art leeThe term Foreclosure describes the process of a lender who tries to recover monies owed on a loan in default by a borrower. The lender will try to sell the home via a short sale or take the home back as a REO (Real Estate Owned) property and put it up for sale. When a homeowner defaults on a ...
Views: 911(5 votes) - Total Benefits to Buying a Foreclosure - by Submitted on Jan 21, 2010 from art leeWith the number of foreclosures looming around each and every neighborhood, buying one can provide numerous benefits to the home buyer. Many investors find it advantageous to purchase a home via a lease to own agreement. The reason is because they don’t have to put much money down and it ...
Views: 843 - Tips on Postponing a Trustee Sale for Short Sales - by Submitted on Jan 21, 2010 from art leeDo you have a Trustee Sale you need to postpone in order to complete your Short Sale deal? Do not trust the foreclosing lender to get it done. Trust us, we have lost deals when we counted on the lender to save our deal. Take action and put the power in your hands. First, it is important to ...
Views: 946 - Lenders asking for seller contribution for Short Sale Approval - by Submitted on Jan 12, 2010 from art leeWe are starting to receive requests from lenders who ask for a seller contribution before a short sale can be approved. This trend is different from the days where a lender would be able to just review the seller’s financial documents to verify that they do not have funds available to ...
Views: 2960(4 votes)