Chapter 1 – Understanding Foreclosure
The importance of understanding foreclosure, foreclosure defined,
how lenders accelerate foreclosure timelines, six basic steps to foreclosure.
Chapter 2 – Mortgage or Deed of Trust
Why Real Estate Agents need to understand the importance and difference
relative to foreclosure, each loan instrument defined in detail and how applicable to foreclosure
Chapter 3 - One on One with the Pre-foreclosure Prospect
Pre-foreclosure prospects state of mind, putting them
at ease, setting the table, providing “real” post sale relocation options
Chapter 4 - Homeowners Alternatives to Short Sales
Why an overview MUST be a prerequisite before any hands on
representation, representing client interest is a legal responsibility, the five alternatives to foreclosure, what is FHA
Secure, the natural segue into the first 2 profit centers; Home Redemption Business and Listing Short Sales
Chapter 5 - The Home Redemption Business Model for Real Estate Agents
THIS IS AN UNTAPPED MARKET AND A NATURAL
EXTENSION OF YOUR EXISTING BUSINESS! Is loan modification a feasible option, lenders criteria for modification, complete Home
Redemption Business model, average fee to charge, information to collect from borrower, maximizing approval rates, working
with the lender on behalf of the borrower;
BONUS MATERIAL: Necessary contracts, agreements, checklists, forms and
actual case study of a loan modification.
Chapter 6 - Foreclosure and short sale consequences
The consequences of foreclosure and short sale, requirements
of a Real Estate Agents to disclose prior to listing, addressing deficiencies and tax liabilities, what is HR 3648.
BONUS MATERIAL: Sample promissory note.
Chapter 7 - Listing Pre-foreclosures properties
This is an expanded version of our book “Listing and Selling
Comprehensive definition, detailed components of a short sale package, nuances of listing the
property, importance of the lenders BPO and the BPO the agent performs, the HUD-1 settlement, dealing with multiple lien holders,
dealing with all the lender responses, changing MLS status, representing short sale buyers, complete marketing strategy to
gain pre-foreclosure leads, detailed prospecting script;
BONUS MATERIAL: Agreements,
contracts, case studies, forms: hold harmless agreement, short sale checklist, 3 detailed case studies with lien releases,
Sample HUD-1 and MLS print outs, authorization to release, Repair bid template, Blank BPO template, completed BPO, financial
statement, short equity addendum, direct mail and display ad samples.
Chapter 8 - Broker Price Opinions
This is an expanded version of our book “The BPO Business”.
defined, who orders them and for what, typical variables on all BPOs, what BPOs pay, ways BPOs serve agents, information to
gather prior to applying, how to convert BPO orders into listings, getting paid more than the initial offer amount;
BONUS MATERIAL: Sample BPO application, completed BPO example
CHAPTER 9 - Listing and Selling Bank Foreclosures
This is an expanded version of our book “Become an REO
Overview of industry, who hires Real Estate Agents , commissions, when assets are assigned, REO agent
detailed service model, what departments to prospect to and whom within the company does the hiring, prospecting script, importance
of broker price opinions, reimbursement of expenses, the import of your contractor team, marketing plan to gain new business;
BONUS MATERIAL: Sample Master Listing agreement, sample REO Broker service manual,
REO Marketing case study with MLS listing
State by State Foreclosure Laws
CFS Final Test