Hi folks. One of my passions is helping other agents with their short sales. Everyday I spend time answering questions on Short Sale Superstars and other forums I participate on.
One of the questions I frequently see is from agents wanting lender contacts so they can have a foreclosure stopped or postponed. My standard response is that the borrower needs to speak with an Attorney and they need to do it ASAP.
It is not our job, as agents, to get involved with stopping foreclosures. Last I checked our licenses are for selling real estate not practicing law. Foreclosure defense is a legal issue not a real estate issue.
Usually the response I get when I answer like this is “Well I’m just trying to help these people out”. No. You. Are. Not.
You are harming them by trying to do something you are not qualified to do.
As Short Sale agents we have to know what we can and what we can’t do. Stopping a foreclosure is one of the things we can’t do. Now we may get lucky every now and then BUT it is still practicing law.
Sellers with a looming foreclosure date need an Attorney. As a Short Sale agent be sure to align yourself with an Attorney that you know and trust so you can feel comfortable referring your Sellers to them when needed.