SOS L Services, LLC is a Loss Mitigation Company that specializes in short sales and Loan Modifications.
We would be happy to give a presentation to any realtors and/or brokers.
SOS L services has a proven process for success by giving all parties a clear process which is simple and easy to adhere to.
SHORT SALE PROCESS
•1. Determine client is in short sale - when the realtor goes for a consultation you will need to ask the client how much they owe on the mortgage - Based on your evaluation of the current market value you will then be able to determine if this will be a short sale.
•2. Contact SOS L Services for free consultation - Based on your analysis recommend they speak to a 3rd party negotiator. Please contact SOS L services to advise you are referring a client so that you can be part of the consultation as well as ensure you will retain the listing.
•3. Realtor Responsibilities - see upcoming blog
•4. An Offer is presented and accepted by SOS L Services - SOS L services must be included on any offer - A fair market offer is the best way to ensure that lender will accept and forgive the client of the deficiency balance
•5. SOS L Services negotiates with lender - Short sales can take 30- 120 days - Sometimes it seems like a lifetime but every lender is different and has their own policy & procedures for a short sale.
•6. Realtor to meet with Lenders Appraisal - After the short sale submission to the lender, they will require and request their own appraisal. The realtor needs to meet with this agent to ensure that they are aware of all "issues with property" as well providing comps can be helpful.
•7. Obtain a successful approval - Once short sale has been approved - SOS L Services will discuss approval with client and then review with attorney & realtor.
•8. Closing - SOS L services, LLC will co-ordinate with attorney to schedule the closing.
Nancy Schoen
SOS L Services, LLC
4 Nancy Court Suite 4
Wappingers Falls, NY 12590
P - 845-214-0282
F - 845-230-8639
nschoen@sosloanservices.com
 |
|
|
A loss mitigation company currently active in NY, CT, NJ and Fl.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
