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New Study Program ~ Foreclosure Intervention ~ Is it a career Opportunity for you?

By
Real Estate Agent with Novella Real Estate

exclaimation point on a street signThis evening I attended a Foreclosure Intervention Q & A at the South Metro Denver Association of Realtors.  I wanted to brush up on my Short Sale Skills, which this seminar was about.

I learned about a new certification course being taught By a Mildred Wilkins.  Ms. Wilkins has taught consumers about their rights and mortgages.  The course, which is actually a designation called "FIS" Foreclosure Intervention Specialist Certification.

Ms. Wilkens was asked by the State of Ohio to put this certification class together. It's about 18 months old and is doing very well.

There is a huge need for this type of training. Consumers are not up on the lingo of banks and just don't understand the process. This disconnect is costing not only the consumer, but the community as well. 

One thing that surprised me, Ms. Wilkens said there is a need for about 25 professionals (in the Denver metro area) to start up actual businesses as "foreclosure prevention" specialists.  She said, NOT Realtors who will do it as just another service, but actual business people setting up a brick and mortar business.

She's right.  The process of doing pre-forclosure work is tedious.  It takes a lot of knowledge of the process and the procedure.  People that are doing it, are doing it full time and they are doing a very good job.

Markets across the country may find that this opportunity is ripe for a specialists who know the ropes and can help consumers by interfacing with the banks.  It's a long process and not an easy one.  An organized, knowledgeable specialist could do much good for consumers and make a living at it.

Foreclosure Intervention Specialist...an idea who's time has come.

To learn more about the Foreclosure Intervention Certification class go here. She's teaching next week in OHIO!

 

Jessica Hughes
Ambiance Staging - Boulder, CO

WOW WOW WOW!  and did I mention WOW? 

I know someone who just left the NexGen office in Boulder who might be very interested in this.  Thanks

Nov 02, 2006 04:46 PM
Boomer Jack Boardman & Carl McIntyre, the Codgers
Noted Curmudgeons - Saint Paul, MN
Kristal, With foreclosures sadly having doubled here in Minnesota just in the past year, it would seem that this could be a great opportunity. Jay Merton
Nov 02, 2006 10:03 PM
Anonymous
Judd Danielson

Kristal,

I just wanted to comment really quick about our company Freedom Foreclosure Prevention Services and let you and the folks that read this post the company has been helping homeowners keep their homes and save themselves the sadness of bankruptcy and keep their sanity for over 3 years now. FFPS is based on integrity and honesty and straight forward business with the lender and works only for the homeowner. I have been with Freedom Foreclosure Prevention Services for over 18 months now and I do this busiiness full-time from the comfort of my office and I am certified by FFPS to help homeowners all across America...My time has come to help these folks that have been taken advantage of by shady lenders and the such. We know that lenders, appraisers, brokers, and even under writing companies have been working together to inflate the housing market for years and now we are doing the best we can to eduacate and save the american dream from being stripped from the homeowner. FFPS offers many solutions to save the homeowner from a foreclosure and the company carry's over  $0 debt load...with over 15 years of experience in this field. We know there are many companies out there claiming to be able to stop your foreclosure but we actually do it! Last but not least Kristal, if home owners in trouble actually new how the lenders felt when they see FFPS come up on the appt. sheet they would be pounding down our doors to get our help. The lenders know we will be doing the best job we can and theat the homeowner has been eduacated about what is about to happen and they like the fact that our clients don't (usually) fall back into trouble with thier home again we continue to carry on helping the homeowner with credit restoration services to build it back up with them and we also will do everything we can to get them refinanced if that is what is needed.

Just wantred you to know,

Judd Danielson

562-453-3573

Nov 03, 2006 12:54 AM
#3
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

KK....what scares me is that this would be left in the hands of some people that might not be qualified, even though they are approved and certified. AKA.....loan officers in the lending industry.

But I would be interested to know more about Judd Danielson's company.

 

Nov 03, 2006 01:41 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
I had no idea this kind of service is available.  Definitely an idea whose time has come.  I'm interested in more information to pass along.
Nov 03, 2006 01:56 AM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

Jessica ~ Glad you know of someone who might be interested in doing this sort of work.  I see a huge need for the services and an equal if not greater opportunity for a real estate professional to do some good.

Jay ~ Yes that is true.  There are also many very good Realtor types who are having a hard time getting started in the business. They may be able to retrain into an industry that has a deep need.

Judd ~ Wow! You amost had me, but then you said, <We know that lenders, appraisers, brokers, and even under writing companies have been working together to inflate the housing market for years and now we are doing the best we can to eduacate and save the american dream from being stripped from the homeowner.>  Where did you get that idea? Do you understand economics?  Supply and demand? I like the idea you are helping people, but if you are feeding them that line, I think you need to reevaluate your attitude. 

Jeff ~ We should never not do something for fear of someone not doing it right.  We all had a first time.  If a person takes the business seriously and makes an effort to become the best they can be...more power to them.  We need specialists who can help...now! Did you actually read Judd's post?  He slammed all of us!

 Carol ~ We learn something new every day...or at least try!

Nov 03, 2006 03:03 AM
Anonymous
Judd

Kristal, I reposted a comment to yours and the whole statement was wiped when I posted it so since it was not a saved passage I will not attempt to write it again...know that I apologized for a statement that I posted this morning BUT! if anybody wants to know where I have my roots visit:

www.freedomforeclsoure.com/judd

my info is available to reach me there and would be happy to handle any and all questions about our industry.

Really am sorry my post was dumped I think I made some very valid points on it and folks could really see what I meant not that I was SLAMMING anybody at all.

Thanks, have great weekend.

Judd

Nov 03, 2006 09:08 AM
#7
Susan Trombley
Trombley Real Estate - Wake Forest, NC
Broker/Realtor, Raleigh, Cary, Wake Forest, Youngs
KK - I have closed foreclosure and they are no fun. I do not like all the hoops you have to jump through. I do not see any of the addendum are nessecary. Also, when it is their fault they will not help out the buyer one I ota. If they do not get a clean deed and they end up working on it for another 10 days the buyer is just out but if it was them then they are collecting an addition earnest money plus 100 to 150 extra a day.
Nov 03, 2006 10:56 AM
David Love
David Alan Love, Realtors - Merced, CA
CRS,GRI,SRES,CDPE
The problem is how do you get paid. I did Foreclosure consulting 10 years ago when the market was dead. Each State has different laws governing how, when and what you can charge someone in foreclosure. I would be interested to hear what Mrs. Wilkins says.
Nov 03, 2006 03:11 PM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

Susan ~ this seminar was on Pre-forclosure.  You are right about foreclosures though, they are a lot of work, and often times you don't close on time.

David ~  I don't know how you get paid.  I suspect it's part of the negotiation.  I was not able to stay until the end of the session, as I've got a nasty cold and I felt bad exposing others to me...so I left.  I did get enough out of the session to know I'm  not up to working this sort of business.  Been there, done that.  Once upon a time I did very well doing REO's but I just don't want to go back...

Nov 03, 2006 03:55 PM
Chris Tesch
RE/MAX Bryan-College Station - College Station, TX
College Station, Texas Real Estate
There are beginning to be quite a few peripheral opportunities in real estate in the last few years.  This would be a service that would not only help the consumer but, I suspect, allow some agents who have young children work the "normal" business hours instead of 24/7...all while feeling like you can make a huge difference in peoples lives.  Great idea!
Nov 03, 2006 10:02 PM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022
Chris ~ that is a good point.  There are many people who would be excellent at this sort of service.  Especially those who would love to work "normal" hours.  Whatever that is...
Nov 03, 2006 11:53 PM
Toby Boyce
C.G. Boyce Real Estate Co. - Delaware, OH
MBA, Delaware Ohio

This is a great idea, and being in Ohio, I had no idea that we started it. Of course, this a big deal here right now (as it is almost every where else) but when you have a top-10 growing market towards the end of the "boom" there were a lot of people being sold "financing" rather than "housing". Scary, that we have a condo complex down the road that has 150 single-family units. There are 31 of the homes for sale and, at our best count, another dozen of them in various stage of foreclosure.

Scary thought, and it is happening all over Columbus. Of course we also have the "over priced" builder homes that have collapsed in value and "legit" home sellers are stuck because there home was bought for $150,000 and is now only valued at $135,000 and of course they did 100 percent financing.

Nov 04, 2006 02:10 AM
Monika McGillicuddy
Berkshire Hathaway HomeServices Verani Realty - Hampstead, NH
Southern NH & the Seacoast Area

I also had no idea this type of service existed.  I think in NH we’ll start to see an increase in foreclosures.  Thanks for the heads up about this so I can investigate to see of something like this exists here.

Nov 04, 2006 08:03 AM
PFE Administrator
Pre Foreclosure Experts - Irvine, CA

I think HUD approved Non Profit Housing Agencies are rapidly making efforts to diversify their programs to accomodate the influx of homeowners in some stage of pre foreclosure.  If your state doesn't have a program like the one in Colorado, this is always a good place to start.

Nov 06, 2006 09:05 AM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

Toby ~ You are right, selling people on "financing" instead of
"housing" is not a good idea.  When did we start doing that anyway?

 Monika ~ Good luck in finding help with this situation.  I think it will be necessary in many places before too long.

Adam ~ That's good news to know HUD is being proactive.  Guess like everyone else they learned.  We have been down this road before.

Nov 10, 2006 02:30 AM
Brian Brady
Matthews Capital Markets - Tampa, FL
858-699-4590

I had an opportunity to read Mildred's articles.  She attributes much of the problem to predatory lending; she is partially correct.

I'm thinking from Mildred' readings that she dsiapproves of yield spread premiums and points; she must hate the fact that mortgage brokers actaully get paid for what we do.

Mildred also belives that consumers have an inalienable right to short sale their home with little or no ramifications from the banks.

Just because I'm paranoid doesn't necessarily mean that they aren't all out to get me.- Brian Brady

 

Nov 10, 2006 02:15 PM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

Brian ~ isn't it amazing how many people forget that we also need to get a pay check?  In my buyer agency presentation I come right out and admit I like to get one and do they mind if I do?  Usually this makes the buyers laugh and hopefully think.

I think Mildred may be slanted because she deals with so many people who have defaulted and aren't accepting any responsibility.  It's so easy to blame the lender.  The lender is never there to defend himself.

Inalienable right to short sale?  It makes sense to do short sales if the reasons for needing them are valid.  It the validation that is tough...how does one really know who is deserving and who isn't.

Foreclosures are expensive for all involved, including us tax payers.

There must be a better way!

Nov 13, 2006 11:00 AM
Anonymous
Judd

Hello KK,

How goes the real estate world on your end? I just wanted to drop in and say hello.

Thanks,

Judd

Feb 08, 2007 01:47 PM
#19
Anonymous
Mildred Wilkins

Hello all,

 

I just found these comments and wanted to respond with the advantage of 'history' pointing out just how on target my feelings about widespread predatory lending and mortgage fraud have contributed to the mess that everyone can now recognize.

 

 The entire real estate market has been turned on it's ear by widespread abuses by lenders, going back as far as the late 90's.  Mortgage appraisal, crazy fees and non-existent underwriting has crippled the entire country.

 

I contnue to train but primarily do consumer education or work with individual borrowers in default who need a specialist to help them wade thru the mire of pending foreclosure.

 

Sincerely,

 

Mldred--my position on everything I taught has remained unchanged as  2011 continues to unveil nasty practices and policies which have devastated the country.

 

 

Mar 15, 2011 10:55 AM
#20