Agent & Broker Risk Management In A Short Sale Opportunity
This post is in response to a great post by Mary Supinger regarding short sales and credit ramifications. I felt inclined to follow up with a post that may help agents and brokers reduce their risk in these types of transactions. Many of my agents recently attended a risk management credit course on short sales, foreclosures and refinancing which has now scared them to death regarding the representation of a seller who is in a position for a possible short sale. The issue isn
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Great post! Exactly what I have been saying to agents.
We ALL need to be aware that the short term will greatly affect the long term!
THe tide has definitely turned though. Lenders are becoming more and more aware of the fact that they must work with people who want to stay in their homes.
The recent agreement reached with Bank of America, holder of many Coutrywide loans begins a trend that says that the lenders must wake up or face the music!
Thanks for referring to me!
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