The In’s and Out’s of Short Sales (6 Hr CE)

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Knowing how to maneuver the complexities of short sales as well as how to identify the distinct real estate opportunities in foreclosure is critical. This course helps agents evaluate all available options for distressed homeowners and identify the components of an effective short-sale package. This course looks at the listing and sale process of short sales.

6 Hours Disclosure CE

Lessons

Section 1 Exam on Terms

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

What Is A Short Sale?

Length: 7 minutesComplexity: Standard

🔊 Listen to Lesson A short sale occurs when the net proceeds from the sale of their home are insufficient to pay off the seller’s loan obligation and closing cost.   Closing costs can consist and…A short sale occurs when the net proceeds from the sale of their home are insufficient to pay off the seller’s loan obligation […]

Process from Late to Auction

Length: 7 minutes

🔊 Listen to Lesson Process from Late to Auction Date 180 Days What happens after I am 30 days late? What is the Collections or Loan Servicing Department? What happens after I am 60…Process from Late to Auction Date 180 Days What happens after I am 30 days late? What is the Collections or Loan […]

TRID-Loan Estimate-2015

Length: 10 minutesComplexity: Standard

🔊 Listen to Lesson TRID? What the heck is TRID? TRID is an acronym of mortgage acronyms.  TRID is a product of the Consumer Financial Protection Bureau (“CFPB”) which assumed the oversight role previously held by…TRID? What the heck is TRID? TRID is an acronym of mortgage acronyms.  TRID is a product of the Consumer Financial Protection Bureau (“CFPB”) […]

Buyer and Seller Closing Disclosure-Short sale

Length: 10 minutesComplexity: Standard

🔊 Listen to Lesson What are the general requirements for the Closing Disclosure? For loans that require a Loan Estimate and that proceed to closing, creditors must provide a new final disclosure reflecting the…What are the general requirements for the Closing Disclosure? For loans that require a Loan Estimate and that proceed to closing, creditors […]

Section 2 Exam Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

Qualification For a Short Sale

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson Qualifications for a Short Sale By the Borrower/Seller Financial hardship is a commonly used term. There are a variety of situations where you may claim financial hardship, but you must be…Qualifications for a Short Sale By the Borrower/Seller Financial hardship is a commonly used term. There are a variety of situations where […]

Predatory Lending in Short Sale

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson Some of the most common financial hardships include: Too Much Debt Unemployment Reduced Income Divorce Death of a Spouse Separation of a marriage Medical Bills Death of a family member Payment…Some of the most common financial hardships include: Too Much Debt Unemployment Reduced Income Divorce Death of a Spouse Separation of a marriage […]

Section 3 Exam Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

Short Sale Listing (Seller)

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson Talk To the Seller about Their Options Deed in Lieu A Deed in lieu of foreclosure is where the borrower conveys their interest in the property to the lender to satisfy the loan…Talk To the Seller about Their Options Deed in Lieu A Deed in lieu of foreclosure is where the borrower conveys their interest in […]

Short Sale Seller Advisory

Length: 10 minutesComplexity: Standard

🔊 Listen to Lesson Click these Hyperlinks below to see information on websites listed in the  Advisory. 1. Mortgage Fraud Prevention                             …Click these Hyperlinks below to see information on websites listed in the  Advisory. 1. Mortgage Fraud Prevention              […]

Short Sale Addendum To Listing Contract

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson This form is required by most brokers to be included in the Listing Contract document that creates the contract between the seller and the real estate agent. There are provisions…This form is required by most brokers to be included in the Listing Contract document that creates the contract between the seller […]

Section 4 Exam Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

The Short Sale Workflow

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson What the Listing Agent Should Know to Successfully Negotiate a Short Sale. THIS SHORT SALES WORK FLOW IS AN EDUCATIONAL TOOL INTENDED TO GIVE BROKERS AND SALES ASSOCIATES A COMPREHENSIVE…What the Listing Agent Should Know to Successfully Negotiate a Short Sale. THIS SHORT SALES WORK FLOW IS AN EDUCATIONAL TOOL INTENDED […]

Gather Information from the Seller

Length: 9 minutesComplexity: Standard

🔊 Listen to Lesson 2. Gather Information From the Seller and Other Sources A. It is important to be aware of how much is owed on the property and whether the seller is in…2. Gather Information From the Seller and Other Sources A. It is important to be aware of how much is owed on […]

Taking and Servicing the Short Sale Listing – A Typical Workflow

Length: 9 minutesComplexity: Standard

🔊 Listen to Lesson Assuming that after full reflection and consultation with appropriate legal, credit, and tax professionals, the homeowner decides that a short sale makes the best sense. What are the factors that…Assuming that after full reflection and consultation with appropriate legal, credit, and tax professionals, the homeowner decides that a short sale makes […]

Taking and Servicing the Short Sale A Typical Workflow

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson 1. The Offer:  The ideal offer should be from a pre-qualified or pre-approved buyer, with no unusual contingencies, such as the sale of the buyer’s existing residence. It should be…1. The Offer:  The ideal offer should be from a pre-qualified or pre-approved buyer, with no unusual contingencies, such as the sale […]

Recommended Additional Language for Short Sale

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson The following language is included as a suggestion and an example only. Consult your broker prior to using any additional verbiage. Short Sale Addendum to the Listing Agreement: The language…The following language is included as a suggestion and an example only. Consult your broker prior to using any additional verbiage. Short […]

Section 5 Exam Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the Exam.You will need to wait for the timer to run out before you can submit the Exam.

Short Sale VS. Foreclosure

Length: 9 minutesComplexity: Standard

🔊 Listen to Lesson Short Sale Vs. Foreclosure Whether you should do a short sale or let the home go to foreclosure depends on several factors. While for some homeowners, it is easier to…Short Sale Vs. Foreclosure Whether you should do a short sale or let the home go to foreclosure depends on several factors. […]

Length of Time to Move After a Short Sale

Length: 8 minutes

🔊 Listen to Lesson Deficiency Judgments Lenders may report the short sale to the credit bureaus in various ways– they may report it as “agreed settlement short of full payment,” “Charged-off Account,” “Paid Short”…Deficiency Judgments Lenders may report the short sale to the credit bureaus in various ways– they may report it as “agreed settlement […]

Section 6 Exam Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the Exam.You will need to wait for the timer to run out before you can submit the Exam.

Short Sale Package To Bank Hardship Letter

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Short Sale Hardship Letter: There are many reasons why a homeowner might fall behind on their mortgage payment. In Order to have your lender(s) look at the option of a…Short Sale Hardship Letter: There are many reasons why a homeowner might fall behind on their mortgage payment. In Order to have […]

Tips on how to write a Hardship letter for a Short Sale

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson Work with your seller and tell them to: 1. First brainstorm about your hardship. Sit down and write down every idea that pops in your head about why you can’t…Work with your seller and tell them to: 1. First brainstorm about your hardship. Sit down and write down every idea that […]

Short Sale Package

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson All of the documentation needed to start a short sale are commonly called a “Short Sale Package” and this package is usually submitted by the REALTOR® representing the seller, or the…All of the documentation needed to start a short sale are commonly called a “Short Sale Package” and this package is usually submitted […]

Comparative Market Analysis for short sales

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson What is a BPO? BPO is an acronym for Broker’s Price Opinion. In general, the term Broker’s Price Opinion (BPO) is a method that a Real Estate Broker (or an agent…What is a BPO? BPO is an acronym for Broker’s Price Opinion. In general, the term Broker’s Price Opinion (BPO) is a method […]

Section 7 Exam Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

Short Sale Purchase

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson The purchase contract in a short sale should be contingent upon a short sale agreement acceptable to the lender and agreed to by the seller/borrower. AAR has drafted a short sale addendum…The purchase contract in a short sale should be contingent upon a short sale agreement acceptable to the lender and agreed to by the […]

Short Sale Addendum

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson The Purchase contract in a short sale should be contingent upon a short sale agreement acceptable to both the lender and the seller.  AAR has drafted a Short Sale Addendum…The Purchase contract in a short sale should be contingent upon a short sale agreement acceptable to both the lender and the […]

Section 8 Exam Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

Short Sale Question and Answer

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Legal Questions and Answers Remember, when it comes to the legal questions, unless it is in the AAR contract and  specifically stated, you should always point your client in the…Legal Questions and Answers Remember, when it comes to the legal questions, unless it is in the AAR contract and  specifically stated, […]

Short Sale Policy for ARMLS

Length: 9 minutesComplexity: Standard

🔊 Listen to Lesson Question: My “Short Sale” MLS listing has an offer on it that is being considered for approval by the lender. What status should my listing be in? Answer:  A:  When a “Short…Question: My “Short Sale” MLS listing has an offer on it that is being considered for approval by the lender. What status should my […]

Short Sale Myths

Length: 8 minutesComplexity: Standard

🔊 Listen to Lesson   A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about…  A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they […]

Section 9 Exam Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

Making Home Affordable Act

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson What is Making Home Affordable? Delivering Mortgage Relief The Making Home Affordable Program  (MHA) ® is a critical part of the Obama Administration’s broad strategy to help homeowners avoid foreclosure,…What is Making Home Affordable? Delivering Mortgage Relief The Making Home Affordable Program  (MHA) ® is a critical part of the Obama […]

Home Affordable Foreclosure Alternatives Q & A

Length: 7 minutesComplexity: Standard

🔊 Listen to Lesson Question:  What other alternatives to foreclosure exist within the Making Home Affordable Program? Question: How does the HAFA Short Sale work? Question:  How does the HAFA Deed-in-Lieu of Foreclosure work? Foreclosure…Question:  What other alternatives to foreclosure exist within the Making Home Affordable Program? Question: How does the HAFA Short Sale work? Question:  How […]

Section 10 Exam Short Sale

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the Exam.You will need to wait for the timer to run out before you can submit the Exam.

Final Exam for Short Sale Class

Length: 0 minutesComplexity: Standard

🔊 Listen to Lesson The Final is not timed. Once you have passed this final… For The For The In’s and Out’s of Short Sales Course Remember to PRINT OUT YOUR CERTIFICATE and then you may move…The Final is not timed. Once you have passed this final… For The For The In’s and Out’s of Short Sales Course Remember […]

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