Good morning Superstars.
One of the questions I frequently see is from agents wanting lender contacts so they can have a foreclosure stopped or postponed. My standard response is that the borrower needs to speak with an Attorney and they need to do it ASAP.
It is not our job, as agents, to get involved with stopping foreclosures. Last I checked our licenses are for selling real estate not practicing law. Foreclosure defense is a legal issue not a real estate issue.
Usually the response I get when I answer like this is “Well I’m just trying to help these people out”. No. You. Are. Not.
You are harming them by trying to do something you are not qualified to do.
As Short Sale agents we have to know what we can and what we can’t do. Stopping a foreclosure is one of the things we can’t do. Now we may get lucky every now and then BUT it is still practicing law.
Sellers with a looming foreclosure date need an Attorney. As a Short Sale agent be sure to align yourself with an Attorney that you know and trust so you can feel comfortable referring your Sellers to them when needed.
Align yourself with a good
(Audios are 45-90 min each).
- Why a Short Sale?
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- Negotiating Techniques 1
- HUD1 Tips
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- Cash Contributions and Prom Notes
- Negotiating Junior Liens
- Lead Generation
- 10 Short Sale Mistakes
- VA, HAP and FHA
- Getting Short Sales Closed
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Comments
I totally disagree with you. It is a normal process for agents to request from the lender that they postpone a foreclosure sale. That is not anywhere near practicing law. Yes, sellers should speak to an attorney if there is evidence that the lender has done something wrong. Also many agents do refer sellers to attorneys to stop foreclosure via bankruptcy filing. Again, sellers get the advice from the attorney not the agent.