The CE Shop’s course in Short Sale and Foreclosure Risk Management will help you to understand and better navigate through short sale transactions in the current real estate climate.
The Short Sale and Foreclosure Risk Management Course will:
- Define short sales and foreclosures.
- Describe the fundamental risks involved in foreclosure and short sale transactions.
- List questions to consider when working with short sale sellers before entering into a listing agreement.
- List the appropriate questions to consider when working with prospective short sale buyers.
- Describe common risks for buyers related to short sale transactions.
- Identify specific terms to include in a short sale offer to reduce risks for the parties and professionals involved.
- Identify the documents commonly required by the lender to be submitted as part of the short sale package.
- Describe strategies for effective communication with the lender during the review period.
- Explain federal statutes which may affect sellers in short sale transactions.
- Describe the typical process in a short sale transaction from listing to closing.
- Explain the difference between the judicial and non-judicial foreclosure process.
- Identify risks associated with REO listings.
Here is an excerpt from the “Short Sales and Foreclosure Risk Management” course:
“Unfortunately, in the midst of distressed homeowners seeking help in tough economic times, some seek to profit by perpetuating scams disguised as foreclosure rescue plans. Predatory foreclosure rescue scams are on the rise, targeting already vulnerable homeowners and, in many cases, stealing their houses out from under them, even as they risk losing them through foreclosure.
NAR has stepped up its efforts to combat these schemes by lobbying Congress to pass H.R. 1231, The Foreclosure Rescue Fraud Act of 2009. The Act, if passed, would raise the standards and requirements for any entity offering counsel or consulting services to distressed homeowners. In addition, HUD and the FHA are trying to raise awareness of these scams and get the word out to consumers about the free counseling services available through HUD-approved housing counselors.”
This course is available in several states. To see if it is available in your state, go to The CE Shop and click on your state.
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