The National Association of Realtors and the U.S. Department of the Treasury are collaborating to help Realtors better assist distressed homeowners who are struggling to Selling Your Home Through a Short Sale - Avoid Foreclosure.
Realtors who attend upcoming Making Home Affordable "Help for Homeowners" outreach events, sponsored by the Treasury Department, will learn insights to help them navigate the short sale process and have the opportunity to meet directly with loan servicers on their clients’ behalf for assistance with difficult transactions, according to a statement.
"As the nation’s leading advocate for homeownership and housing issues, Realtors are working hard to keep more people in their homes, and when a family is absolutely unable to keep their home, Realtors specializing in short sales, short sale specialists are there to help homeowners by facilitating a loan modification or short sale," said NAR President Moe Veissi, broker-owner of Veissi & Assoc. inc. in Miami.
"Help for Homeowners" community events will take place throughout the year; the first sessions are in Miami today and Tampa, Fla. on Feb. 24. Additional events are scheduled in Chicago, Indianapolis, Los Angeles, and Sacramento, Calif.
The sessions for real estate professionals are not open to homeowners, but borrowers who are in financial distress and concerned about losing their home to foreclosure are encouraged to attend the free homeowner sessions. Homeowners who are having difficulty paying their mortgage will be able to meet one-on-one with loan servicers and housing counselors to explore foreclosure prevention options and work toward solutions to their mortgage problems. Real estate professionals are encouraged to invite homeowners and their clients to the events and are welcome to accompany their clients in conversations with the servicers.
The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in; Bexley Columbus Delaware Downtown Dublin Gahanna Grandview Heights Granville Grove City Groveport Hilliard Lewis Center New Albany Pickerington Polaris Powell Upper Arlington Westerville Worthington
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Jason Opland - Yep 1000% agree.
The problem is the banks no longer own most of these mortgages and rather they are only the servicers of these loans and thus under these circumstances there is an incentive for the banks to drag these sales out and to collect additional servicing fees. I've contacted Fannie and some of the other investors directly when we've run into a problem with a file or when I've felt the servicer was intentionally delaying the processing of a file this in an effort to solicite their assistance in expediting the file and to try to help them reduce their losses. I've found most of these groups to be unwilling to offer any aid whatsoever and they simply suggest that their servicer is responsible for the management of these assets and they insist that you work the matter out with the servicer directly! I think the investors need to take a more proactive role in the management of these assets and assist us in our efforts to help them sell these non-performing assets and avoid the costly expense of foreclosure and the additional losses incurred when a property goes through foreclosure (this includes the additional legal expenses, loss in value due to deferred maintenance, etc.) not to mention the damage this does to the value of other local homes!
to informed them that their servicer and in the case of Fannie and some of the other groups that received government bailouts I've found they
NAR should INSIST that REALTORS get paid if the deal closes or not. WE put a LOT of effort to get the deal to close only to have it fall apart not because of our efforts. I still have bills to pay during the 3+ month process.
Lenders,servicers etc.pay for relocation and other fees. We should get paid!!!