Fundamentals of Short Sales

🔊 Listen to Lesson A short sale occurs when the net proceeds from the sale of their home are insufficient to pay off the Seller’s loan obligation and closing cost. Closing costs can consist…A short sale occurs when the net proceeds from the sale of their home are insufficient to pay off the Seller’s loan […]

🔊 Listen to Lesson Process from Late to Auction Date 180 Days What happens after I am 30 days late? What is the Collections or Loan Servicing Department? What happens after I am 60…Process from Late to Auction Date 180 Days What happens after I am 30 days late? What is the Collections or Loan […]

🔊 Listen to Lesson TRID? What the heck is TRID? TRID is an acronym of mortgage acronyms.  TRID is a product of the Consumer Financial Protection Bureau (“CFPB”) which assumed the oversight role previously…TRID? What the heck is TRID? TRID is an acronym of mortgage acronyms.  TRID is a product of the Consumer Financial Protection […]

🔊 Listen to Lesson What are the general requirements for the Closing Disclosure? For loans that require a Loan Estimate and that proceed to close, creditors must provide a new final disclosure reflecting the…What are the general requirements for the Closing Disclosure? For loans that require a Loan Estimate and that proceed to close, creditors […]

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🔊 Listen to Lesson Some of the most common financial hardships include: Too Much Debt Unemployment Reduced Income Divorce Death of a Spouse Separation of a marriage Medical Bills Death of a family member Payment…Some of the most common financial hardships include: Too Much Debt Unemployment Reduced Income Divorce Death of a Spouse Separation of a marriage […]

🔊 Listen to Lesson All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here After a Short Sale, the Homeowner Is Liable for the Short Sale Difference If…All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here After a Short Sale, the Homeowner […]

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🔊 Listen to Lesson Talk To the Seller about Their Options Deed in Lieu A Deed in Lieu of foreclosure is where the borrower conveys their interest in the property to the lender to satisfy…Talk To the Seller about Their Options Deed in Lieu A Deed in Lieu of foreclosure is where the borrower conveys their interest […]

🔊 Listen to Lesson Click these Hyperlinks below to see information on websites listed in the  Advisory. 1. Mortgage Fraud Prevention                             …Click these Hyperlinks below to see information on websites listed in the  Advisory. 1. Mortgage Fraud Prevention              […]

🔊 Listen to Lesson This form is required by most brokers to be included in the Listing Contract document that creates the contract between the Seller and the real estate agent. There are provisions…This form is required by most brokers to be included in the Listing Contract document that creates the contract between the Seller […]

🔊 Listen to Lesson All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Listing Agent Is Not Required to Provide a Third-Party Negotiator His Equator Username and…All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Listing Agent Is Not Required to […]

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🔊 Listen to Lesson The purchase contract in a short sale should be contingent upon a short sale agreement, acceptable to the lender, and agreed to by the seller/borrower. AAR has drafted a short…The purchase contract in a short sale should be contingent upon a short sale agreement, acceptable to the lender, and agreed to […]

🔊 Listen to Lesson The Purchase Contract in a short sale should be contingent upon a Short Sale Agreement acceptable to both the lender and the Seller.  AAR has drafted a Short Sale Addendum…The Purchase Contract in a short sale should be contingent upon a Short Sale Agreement acceptable to both the lender and the […]

🔊 Listen to Lesson All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Buyer’s Agent Can Email Listing Agent to Cancel a Short Sale ISSUE: The Seller…All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Buyer’s Agent Can Email Listing Agent […]

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🔊 Listen to Lesson Short Sale Vs. Foreclosure Whether you should do a short sale or let the home go to foreclosure depends on several factors. While for some homeowners, it is easier to…Short Sale Vs. Foreclosure Whether you should do a short sale or let the home go to foreclosure depends on several factors. […]

🔊 Listen to Lesson Deficiency Judgments Lenders may report the short sale to the credit bureaus in various ways – they may report it as “agreed settlement short of full payment,” “Charged-off Account,” “Paid…Deficiency Judgments Lenders may report the short sale to the credit bureaus in various ways – they may report it as “agreed […]

🔊 Listen to Lesson All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Verbal Rejection by Lender of Short Sale Offer Is Valid ISSUE: The short sale…All Information on this page is from the Arizona Association Of Realtors  Legal Hotline Click here Verbal Rejection by Lender of Short […]

🔊 Listen to Lesson You will need to wait for the timer to run out before you can submit the ExamYou will need to wait for the timer to run out before you can submit the Exam

🔊 Listen to Lesson Short Sale Hardship Letter: There are many reasons why a homeowner might fall behind on their mortgage payment. In order to have your lender(s) look at the option of a…Short Sale Hardship Letter: There are many reasons why a homeowner might fall behind on their mortgage payment. In order to have […]

🔊 Listen to Lesson Work with your seller and tell them to: 1. First brainstorm about your hardship. Sit down and write down every idea that pops in your head about why you can’t…Work with your seller and tell them to: 1. First brainstorm about your hardship. Sit down and write down every idea that […]

🔊 Listen to Lesson All of the documentation needed to start a short sale is commonly called a “Short Sale Package” and this package is usually submitted by the REALTOR® representing the seller, or…All of the documentation needed to start a short sale is commonly called a “Short Sale Package” and this package is usually […]

🔊 Listen to Lesson What is a BPO? BPO is an acronym for Broker’s Price Opinion. In general, the term Broker’s Price Opinion (BPO) is a method that a Real Estate Broker (or an agent…What is a BPO? BPO is an acronym for Broker’s Price Opinion. In general, the term Broker’s Price Opinion (BPO) is a method […]

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🔊 Listen to Lesson The Final is not timed. Once you have passed this final… For The Fundamentals of Short Sales Remember to PRINT OUT YOUR CERTIFICATE and then you may move on to a new Course.The Final is not timed. Once you have passed this final… For The Fundamentals of Short Sales Remember to PRINT OUT YOUR CERTIFICATE and […]