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Must Read For All Short Sale REALTORS

To me this is good news...and worth sharing....I admit if it wasn't for Frank Garay and Brian Stevens of TBWS daily... I might not have caught this as fast as I did!

Imagine that a standardized short sale process...something that is long overdue and happy to see the government is doing something about it!

Get Your Copy...

Know the changes especially if you boast of being a short sale expert!

Thanks Frank and Brian....

I love you guys and keep broadcasting because its good stuff!

About The Author: Midori Miller is a Real Estate Trainer and writes and trains Real Estate Training and assists sellers in short sale situations. Midori is a Licensed Florida Real Estate Broker, License # BK645709 and a member of the Daytona Area Association of REALTORS. Contact midorimiller@yahoo.com or (386)453-3236.

Posted by Florida Real Estate Trainer | Daytona Beach After School Training | Midori on 05/18/2009 11:35 AM

Comments (15)

Short Sales in the Training Channel

uniformed short sales, us government, frank garay and brian stevens, thinkbigworksmall, tbws daily, midori miller, daytona beach florida

Originally posted at: Daytona Real Estate Training: Must Read For All Short Sale REALTORS

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15 Comments on Must Read For All Short Sale REALTORS

MAY

Midori: I think that I commented on that post. While it is good news, it seems that nobody has told the banks about it yet. I was speaking with the President's Office at Countrywide (now B of A), and my contact was completely unaware of any changes. Hummmmmm.

What changes? I haven't hear of any either and I work alot with Countrywide.

Click on the links.....about making short sales uniform...

The information I had received prior to this news release was that B of A was already rolling out a new short sale process after June 1, 2009. They will not discuss the details of it until then but it is supposed to be a "streamline" process. This possibly could be in conjunction with the government's plan. As far as short sales being uniform and having all lenders use the same criteria and documents, I do not see that happening as many loans are private investor backed and they will not let the government dictate the guidleines.

I heard the same thing...and I will know before long....and yes it could be in conjunction with what the government is planning but who really knows??????? I was almost afraid to post this..with the REALTOR logo and all...afterall...remember what just happened with the Tax credit being using for down payment. Can shortsales be uniform...and can the government regulate it...well sell your soul and get bailout money and yes government can regulate! We shall see...just like everything else in life...hurry up and wait to see what happens.

Midori --- this is great information. Thanks for sharing. I have printed out the information.

Mama Liz's Signature

I think the memo from the administration should have included specific time frames from date of offer being submitted to bank to date of acceptance or denial of that said offer. I also think that commission should be set at 6%, or possibly 5%-no less for the amount of work involved in Short Sales so that there is even more uniformity across the nation, across the boards, etc.

Midori-Thanks for sharing this great information

Great info- thanks for sharing.

MAY

Good morning Ma'am,

This is the first that I have heard of these guys. They do give a lot of information and interesting to listen to. Thanks for sharing.

Thanks Midori...we know and are still applauding ANY effort to make this a better option and one better understood, better uttilized....shorter, easier...user friendly...o matter what side of the political fence you sit on...this has to be a welcome change !

Maybe this will help or maybe not. I am still avoiding short sales like the plague. Thanks goodness my area doesn't have that many.

JUN

I am very interested in learning how to properly do short sales. A lot of home owners still can't afford their loan modifications. They will eventually need a short sale. Having a standardized short sale process, will make it easier for us agents to help these people.

I hope this is something that most if not all banks will comply with.

I am doing a short sale with EMC and they informed me that they have a 30 day listing period at whatever amount is owed on the home. That is really such an insance requirement, especially when we as Realtors know that there is know way the home will even get showings at that price. What a huge waste of time.

Anyway, I hope this at least works out a lot of the kinks that we have to contend with.

SEP

Very good information. I do soooo many short sales and was not aware of this. I email President Obama regularly and have since before he was elected. He is the only govenment official that answers me. Maybe thos emails did some good?

Lori Bowers

The Lori Bowers Group

ph:760-831-1595

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