Presentation by: Kari Kuipers; Evie Knoke; Allison Kalkoske; Jeanne Sickel
30 minute Presentation will cover:
- Foreclosure statistics over the last few years, data on Washington compared to the US with our percentages of ARM mortgages and statistics on Bank of America's REO property portfolio.
- The steps Bank of America takes to help encourage customers to avoid a short sale or foreclosure.
- Improvement in the short sale process as measured by response time since we started using Equator.
- Setting expectations with buyers who are interested in purchasing a short sale
- 10 Tips to a successful short sale
- Short sale milestones & the HAFA program
- Short overview on how to log into Equator and use this online management tool
Distressed Properties: Title & Escrow Issues
Instructor: Kathy McKinley
This 3 clock hour class will cover issues regarding title, escrow and title to real property in Short Sales, Foreclosures and Bank-Owned (REO) properties.
Topics will include:
Short Sale Lender Approval Letters
- What Brokers need to look for to avoid leaving commission $ at the closing table
- Avoid Short Sale Fraud
- Short Sale lender worksheets
Issues with Foreclosures
- Lien priority after foreclosure
- Can a Buyer get title coverage at the Trustee Sale?
- Bankruptcy Estate Fees
- Deed Recording Statutes
Bank-Owned Property Sales
- Lack of Deed Warranties vs. title insurance coverage
- VA owned Properties
- Homeowner's Association dues