Allen Cofield

Homeowners should seek an attorney advice on the direction they choose with Short Sale. Why? As agents, we have a fidiciuary duty to the homeowner to follow the contract that we make with you. The Short Sale Addendum in CA specifically states that it is advised for you to seek legal council for your options.

If we have you sign on the first time we meet, we have breeched our contract with you in not letting you seek after legal advice and not bringing that point to your attention.

I have an attorney now that is open to a free initial consultation to review your loan documents.

Did you know that a violation in the loan documents is found 8 out of 10 times? Why do lenders break the law and hold you accountable, affecting your credit?

This is another area being addressed by this attorney and will cost you absolutely no money out of pocket.

Not all cases are the same, but one example this attorney completed was an transaction that released the homeowner from any future obligation to the loan, enabled the short sale, required the lender to remove all negative things on the borrower's credit report, allowed a family member realtor to double end the deal at 6%, and got the homeowner $5,000.00 in their pocket when they walked away from the sale. The attorney could have got them more money but the the homeowner just wanted to be done and said to close the case.

If you want to find out more on how I can help you in a short sale in Southern California and you must have the Property in California, follow me at www.realtoreliteblog.com

Banks are breaking the law in short sales? Who doesn't as long as they can get away with it? Do you speed on the highway, I do, don't tell the cops.

If you havent dealt with Short Sales then you wouldn't know what it means to have a Servicer tell you that the offer has to be approved by lender. Having an attorney will clear some confusion up about what is not suppose to be done and is being done by these lenders.

In most states, there is a pooling and Servicing Agreement between the homeowner, the Lender, and the Servicer. It states the following "the Servicer shall have the full power and authority --- to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable."

Having said this, this agreement is useless unless it is enforced. Who is enforcing it? Come on Realtors, we need to take some legal action so that Short Sales can be processed with a defined path, and not a bunch of BS we go through.

Homeowners, I do short sales in Orange County California and I will help any homeowner who is thinking of doing a short sale in this area. Did you know that if your agent is not allowing you to consult with an attorney to review your options before signing the contract, that your agent is in breech of his/her fidiciary duty to you?

Contact me if you are in Southern California and your Property is in Southern California so that I can set you up with a FREE consultation with an attorney to discuss your options. Why should you have a hit to your credit report if the bank caused you harm within your loan documents you signed in the first place?

I'm not kidding you, if you want the least amount of impact to your credit, you should seek a FREE forensic audit to seek out your options by calling me now at 949.836.7225.

Short Sales with Bank of America or Countrywide can be a very long and tedious process and there is no one way that is going to accomplish the task any quicker as I found in my personal dealings. Just to get the file assigned to the first negotiator, is a lengthy process.

When it was just Countrywide the right never knew what the left was doing and if you called into the general customer service area to check status on your file, they would state that the file has never been received for review in the short sale department, yet you just talked with the Short Sale Department yesterday about the file.

Tip #1: Make sure you have dialed into the right department and if you have not been directed there, ask for the Short Sale department. It will save you time.

Tip #2: Once a negotiator is assigned to your case file, get their full name. 9 times out of 10, that will be their email address. Get your required documents in by standard fax, but also scan into a PDF, and email it to your negotiator so you know they got it.

Tip #3: Be nice to the people that are on the other end, even though you feel like ripping their head off! It will go much further for you. Customer service skills are something we must all work at in times of frustrations.

Tip #4: As different negotiators are assigned, make sure you contact each of them by email and let them know the serverity of the hardship. Sometimes negotiator #2 or #3 never read that hardship letter, so bring it to their focus.

If you have any further suggestions that might help out our Realtor Community, please share your thoughts with this post. I hope that I have offered some information that has helped me in my short sale negotiations.