National Closing Center

Archive for the ‘short sale’ Category

Last week we wrapped up one more successful SSRP seminar, this time in Palm Springs, CA. SSRP seminars are the answer why our blog has been a little bit neglected lately. Putting these events together while RealtyProx was making updates to their software (which we take pride in using) proved to be quite a challenge.

So far, SSRP has been to Miami, Chicago, and Palm Springs. Next month, on April 23rd, we’re headed to another fine city–Houston.

The collaborative between RealtyProx, National Closing Center, Don Maxwell with 24 Asset management Corp. and Legacy Opportunity Foundation is growing into a formidable force. If you’re serious about getting into short sale business before it’s too late, we can’t recommend you this enough: become a part of our program, start receiving short sale assignments, and help your community!

What do we offer? And who are we anyway?

RealtyProx, National Closing Center, Legacy Opportunity Foundation and Don Maxwell (VP, 24 Asset Management Corporation) have formed a collaborative. Our goal is to help the American homeowners transition this current real estate market with dignity, knowledge and access.

Check out www.repositioningthedream.org to learn more. (Please note, this is NOT the right website to register for the upcoming event in Houston. Look for the right website at the bottom of the message.)

What’s in it for you, a real estate agent/broker?

Short sale assignments. Leads. Bonus classes. Exclusive content/trainings and more.

How do we get the short sale leads?

1. Bishop Rodney Sampson coordinates the faith-based initiative. His organization signs up churches and community organizations across the country.

2. They organize seminars, send emails, call their parishioners and let them know about foreclosure alternatives.

3. With the help of attorneys and non-profits, we identify homeowners who could benefit from short sale the most.

4. We assign these leads to SSRP Certified real estate agents in five states, including Texas.

This is unique, clear and transparent!

The bottom line

We have real people with real mortgage problems that are ready to do a short sale TODAY. All we need is a qualified real estate agents! The only way to join the program is to attend our live event in Houston.

What to expect in Houston?

- Special meet-and-greet with REO expert Don Maxwell, who says you shouldn’t touch another REO .
- Learn from the best short sale and HAFA specialists.
- Learn the truth about the direction of the real estate market.
- Get familiar with revolutionary short sale technology.

Register today and secure your seat!

We managed to work hard and have some fun–thanks to a GREAT group of real estate agents and brokers from California. They came to Palm Springs from all corners of the state–cannot thank them enough for supporting our initiative and becoming a newest class of SSRP-certified Realtors.

A few photos are below–enjoy!

Bishop Perry and Bishop Sampson.

The one and only Queen of Foreclosures--Marki Lemons.

The magician of numbers: attorney and CPA Paul Horn

Just certified and happy: Leticia Watt with Century 21 Award

Below is the recording of our last webinar with attorney Robert Blinstrubas.

Sound quality is definitely not the best, but considering neither Robert nor I attempted to sing, I guess it’s acceptable.

The recording is edited in order to make it shorter. If you still feel like skipping some parts, make sure you listen at the 11:00 mark where Robert talks about hardship letters and myths surrounding them.

Happy listening and thank you for supporting National Closing Center!

Our apologies for the last minute change, but we had to move the webinar on short sale and tax consequences to December 29th, 1pm PST.  Please take a note of the changed time.

Something unexpected came up and and the presenter, Paul Horn, had to leave the country for a few days. He will be back by the 29th, ready to reveal quite a few tax-related short sale secrets. Also, log on prepared to ask questions–Mr. Horn will be glad to take as much as the time will allow.

Once again, sorry for the last minute change. Please join the webinar on the 29th and tell your colleagues about it!

The paint is fresh, desks are shiny, floors are spotless–that’s a look and feel of our new office!

Just in time for Christmas, National Closing Center has moved to a new office space.

Bright, beautifully laid out and spacious, our new home will definitely make our winter days brighter and more bearable.

Our new address is:

National Closing Center
714 Enterprise Dr.
Oak Brook, IL 60523

The office is conveniently located by the I-88, very close to I-294 and Rt. 83. Would like to visit us, but still not sure how to find the new location? GOOGLE IT!

All our phone numbers and emails remain the same.

We are truly grateful for your support and we look forward to processing short sales for you and helping you serve homeowners better.

Join us for a Webinar on December 8!

Before you sell a short sale property, you need to sell a concept of a short sale to a qualifying homeowner. In order to be able to counsel homeowners on the best exit strategy, every successful agent must have sufficient legal ammunition at his/her disposal.

Robert Blinstrubas, one of the leading short sale attorneys in Illinois, will offer a much sought-after legal advice, while representatives of National Closing Center will talk about new tools that can provide a higher rate of closed leads.

The webinar will be followed by a Q&A.

Among topics discussed

• What is a short sale and when does it occur?
• The importance of a short sale package.
• Understanding a short sale procedure.
• How to approach short sale leads?
• How to keep buyers engaged?
• How to list more short sales, stay organized and in control?

Title: Converting Short Sale Leads to Listings: Legal Advice from a Top Short Sale Attorney
Date: Thursday, December 8, 2011
Time: 11:00 AM – 12:00 PM CST

After registering you will receive a confirmation email containing information about joining the Webinar.
System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server
Macintosh®-based attendees
Required: Mac OS® X 10.5 or newer
Space is limited.
Reserve your Webinar seat now at:

https://www3.gotomeeting.com/register/968737534

This is going to be one of the most valuable webinars we’ve ever done. With short sales being as hot and ubiquitous as ever, tax consequences is the big question that prevents many homeowners from pursuing this exit strategy. Attorney and CPA Paul Horn will address tax related issues and advise real estate agents on how to help homeowners avoid liability to lenders.

You can learn more about Paul and his excellent team here.

Although the webinar primarily focuses on California, real estate agents and brokers in any state will benefit.

The webinar will be followed by Q & A. Please see the information below and REGISTER!

Short Sales and Tax Consequences: LIVE Webinar with CA Attorney and CPA

Join us for a Webinar on December 29

Short sale is a numbers game. If you’re looking to position yourself as a real expert in front of homeowners, you better know your numbers (and laws!) well.

During this live webinar National Closing Center is proud to present you with the powerful legal ammunition, courtesy of attorney and CPA Paul Horn.

• What are the tax consequences in a short sale?
• Does the homeowner owe the bank anything in a short sale?
• Can you do a short sale while the homeowner is in a bankruptcy?

Learn California deficiency law in a short sale and understand how to help homeowners avoid liability to lenders. Find out how homeowners can eliminate the 2nd mortgage. Learn about a new short sale rule that can help dramatically increase the amount of your short sale listings. Plus, see new tools that are guaranteed to provide a higher rate of closed leads.

Title: Short Sales and Tax Consequences: LIVE webinar with CA attorney and CPA
Date: Tuesday, December 13, 2011
Time: 1:00 PM – 2:00 PM PST

After registering you will receive a confirmation email containing information about joining the Webinar.

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server
Macintosh®-based attendees
Required: Mac OS® X 10.5 or newer
Space is limited.

Reserve your Webinar seat now at:
https://www3.gotomeeting.com/register/452991846

We’ve received a lot of emails from agents stating that they were not able to register to our latest webinar Efficient short sale processing: How to work LESS and close MORE. We estimate that about 50% of all invitees were not able to get on board due to email clients blocking links very aggressively.

Here’s just the link, no images or anything additional, it should work: https://www3.gotomeeting.com/register/751496574

Please register by clicking on the link. We apologize for the inconvenience! Feel free to pass the link to your colleagues or anybody who you think might be interested.

Thanks for your interest in National Closing Center and we look forward to seeing you at the webinar!

First-time buyers are abandoning short sales and looking for other options. According to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, first-time homebuyer purchases of short sales dropped to 39.7 percent of short sale transactions in August. That represented a three-month slide and was the lowest level for first-time homebuyers ever recorded.

The first-time homebuyer share of short sales hit a peak of 54.1 percent of all short sale transactions in November 2009, just before the originally-scheduled expiration of the federal homebuyer tax credit.
Short sale transactions have long been problematic for buyers and sellers alike, with typical approval times of several months after a homebuyer first submits an offer. Factors slowing down short sale approvals include lost paperwork, coordination with multiple investors, slow appraisals, and mortgage servicer understaffing.
Still, for many first-time homebuyers, average short sale prices of 27 percent lower than non-distressed properties compensated for the wait time. But with average time-on-market for short sales stalled at 16.6 weeks—with the majority of that time spent waiting for short sale approval—short sale transactions are becoming less popular with first-time homebuyers.

This is an unfortunate situation, because when properly handled, a short sale is the best option for a first-time buyer in the today’s market. Yes, even if everything goes relatively smooth, some type of waiting and will always be involved. However, if the waiting time is not outrageous (less than 6 months) a short sale will result in significant savings and simply getting a bigger bang for the buck. It all comes down to who and how is handling your short sale…

First-time buyers losing interest in short sales

Freddie Mac recently began reaching out to real estate associations and fielded more calls on a rising rate of fraudulent short sales.

The mortgage giant sees short sale fraud on the rise as well — especially when real estate agents fail to disclose other parties involved in the transaction, who will rig sales at a low price and hide better offers from Freddie and the distressed homeowner.

“Then, after the house is sold, the fraudster can flip it a few hours later for the better price and walk away with the profitable difference,” the Freddie executives said. “By concealing the higher offer, short sale fraud worsens losses to home sellers, Freddie Mac, and taxpayers. It also throws another wrench into the housing recovery by undermining the trust and transparency at the core of any real estate transaction.”

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