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art lee Quick Facts
- Main Areas
- Short Sales, Short Sale Education, Short Sale Success
- Career Focus
- Short Sales
- Affiliation
- http://www.whbsolutions.com
Our company has grown into a successful company that has focused our vision on doing what is best for our customers by providing excellence and quality service. We know that by providing our customers with the necessities they need and the customer service they deserve that our company will continue to strive and grow in this industry. We at WHB are also committed to the personal development of our employees. By having educated employees that have their own goals and aspirations we know we can continue to ensure excellence in our service and products.
Articles by this expert
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Article
Sense of Urgency can Lead to Faster Lender Response Times
Today I’m going to talk about how creating a sense of urgency can produce faster lender response times with it comes to short sales. When a loss mitigation negotiator has 500 to 800 files to work on, almost every one of those files is seen as urgent to an agent. Foreclosure time lines may seem long, but getting an approval from the lender and then waiting another 30 to 45 days for the deal to close, there isn’t much time at all.
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10 Truths about Loan Modifications
Loan modifications are still be a tough option to achieve. This is very true. There have been a lot of reports from the media that talk about the droves of scam artists that are taking advantage of homeowners in today’s ailing real estate market. We want to shed some light on loan modifications, and if in fact they can help you or your plan with your current situation. That is a really good question.
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Follow through with your commitments
The timeline for the short sale process can be extremely long and will test your patience. Once a file is submitted to the lender, it is processed according to the bank timeline. While you may be limited in your ability to try and speed up the process, you do have the ability to avoid items or circumstances that cause delays in processing time. For example, it is critical that a complete file be submitted: all bank statements, tax returns, pay stubs, financial statements, hardship letters, purchase contract, buyer pre-approval letter, estimated HUD-1 statement.
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Document All Conversations and Transaction Details
For all of our short sale transactions, we log the date and details of every conversation, fax submission, and commitments made. Keeping meticulous records show the level of professionalism that you bring, and inspire the trust and cooperation with your bank representative.
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Always Get the Preliminary Title Report - Short Sale Education
The Preliminary Title Report provides us with a wealth of information as we prepare to list and market a short sale listing. This information helps us develop a strategy, find tools, and streamline our efforts with the short sale process. Upon the initial interview with a potential client, there may be many assumptions that we will initially make, and these assumptions can be clarified with examination of the preliminary title report. What are some of the nuggets of information that are available? Loans have been transferredrnr
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Top 10 Negotiation Strategies
Negotiating with the foreclosing lender is the best option to stop a foreclosure. Lenders are in the business of loaning money, not owning homes. Many Real Estate Agents shy away from working on Short Sale transactions because they get frustrated with their mediocre results. Instead of complaining about why negotiating with a lender is so difficult, it is more important to find a way that will make negotiations easier.
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Approved Short Sale Qualifications
The most important activity when deciding to pursue a short sale deal is to determine whether or not the homeowners situation would qualify for a short sale approval. If this task is not done, you could be working on a “dog” deal that has no chance of closing, therefore wasting your precious time you could be spending on a deal that has a high chance of closing.
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Total Benefits to Buying a Foreclosure
With the number of foreclosures looming around each and every neighborhood, buying one can provide numerous benefits to the home buyer. Many investors find it advantageous to purchase a home via a lease to own agreement. The reason is because they don’t have to put much money down and it helps to leverage the number of properties they can purchase. But there are risks as there have been reports that payments made to the original homeowner never gets paid and the home is on its way to foreclosure.
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Tips on Postponing a Trustee Sale for Short Sales
Do you have a Trustee Sale you need to postpone in order to complete your Short Sale deal? Do not trust the foreclosing lender to get it done. Trust us, we have lost deals when we counted on the lender to save our deal. Take action and put the power in your hands. First, it is important to note that the only one that can postpone a trustee sale is the Lienholder that has filed for foreclosure.
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Short Sales Education - 21 Types of Property Liens
In any short sale transaction ALWAYS run a title report to view all the liens attached to a property. You must account for all liens on a property to qualify whether or not it is a short sale worth pursuing. Not understanding the different types of liens that can be attached to a property can cause issues when attempting to work short sale deals.
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Why Homeowners Need to Consider Short Sales
There have been so many news articles about homeowners walking away from the financial obligation to their mortgage. In response, there has been a lot of opinions about how these homeowners are not taking an ethical stance and avoiding their responsibilities. The result will be billions of dollars spent by the U.S. government to aid lenders and homeowners until the housing market stabilizes. Ultimately, this means the nation as a whole will be responsible to helping the housing market through higher taxes.
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2010 Short Sale Education Trends
If you are a Real Estate Professional, you are hurting yourself by not pursuing short sale opportunities. If you had a previous client in trouble, would you be able to serve them? Would you just walk away and hope you find another client who isn’t in trouble?
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