In today's real estate market, many homeowners are turning to the short sale process as means of avoiding foreclosure. This presents an almost unprecedented opportunity for an astute real estate investor.
This vital advanced training will walk you through the entire short sale process as well as give you a thorough understanding of conventional financing and how it relates to this process. You will discover how to prepare a strong short sale package, negotiate the short sale, determine your exit strategy to maximize profits, and obtain financing for your deals.
Short Sales & Mortgages Learning Objectives
- Understanding mortgage terminology & products
- Mastering the loan application process
- Reviewing the foreclosure process
- Knowing how to market for pre-foreclosures
- Developing negotiating skills with homeowners & lenders
- Building rapport with loss mitigation representatives
- Exploring the Real Estate Settlement Procedure Act
- Understanding credit scoring & credit repair techniques
- Evaluating a settlement statement (HUD statement)
- Gaining the ability to read appraisals
- Understanding the CAMELS and how the FDIC utilizes this information
- Discovering the lender’s assets & liabilities and how foreclosures affect lenders
- Understanding titles & deeds
- Preparing short sale proposals
Short Sales and Mortgages training teaches investors how to "Create Your Own Equity" in deals that you can negotiate with the lender.