Birthday:

December 12

First Name

Sherman

Last Name

Smith

State

California

City

Tustin

My Profile

I completed my first Short Sale out of desperation back in 1992. At that time, there was not a name for the transaction. There were not any negotiators, mitigators, loss mitigation departments, short sale departments or anything setup to handle the problem. The sellers’ only choices were to pay their payments or face foreclosure. In order to get a loan amount reduced to accommodate the sale of the property, you had to find someone within the company, who either had the authority or would accept the responsibility of taking a loss for the lender. Now one thing I learned from this experience was “When God created man/woman he gave everyone of them the right to say “NO” and only a few the right to say “YES”, my job was to find the person who could say “YES”. Since, my first Short Sale worked I thought I would try another one. Sure enough I was able to get that one closed as well. As I progressed in this process I developed forms and shortcuts, since the lenders had none of their own. I actually got pretty good at getting them done and started to get a reputation with the lenders and Insurance Companies. But as all good things must come to an end, so did Short Sales. The Short Sale Market lasted for me from 1992 through 1997. Fast forward to 2006 and low and behold what did I start to see? Short Sales. This time it was different, there were now negotiators, mitigators, loss mitigation departments, short sale departments, loan mod departments, etc, etc. The only problem was no one quite knew what they were doing or how to get it done. They were all flying by the seat of their pants. Some had Short Sale Packages and others did not. Some wanted tax returns and pay stubs and others did not, however they wanted addendums, affidavits and financials. There was no rhyme, reason or rules or guidelines. As I began to slip back into the Short Sale business again, I became frustrated with all of the different requirements of each lender. After much thought and conversation with my fellow peers I decided to find every form I had ever been asked to produce for a short sale. I gathered them all and began to assemble a complete Short Sale Package where no lender would ever have to ask me for a form that I did not already have in my package. This helped streamline my Short Sale System. Yes I had more pages but I saved time not having to track down forms or getting seller’s signatures. This allowed me to do more business and teach others how to help me. As of this date I have had over 150+ short sales approved.