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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 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 explaining Listing and Selling Pre-Foreclosures. 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 explaining The BPO Business. BPO 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 explaining how to Become an REO Power Lister. 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
CFS Appendix
Glossary
State by State Foreclosure Laws
CFS Final Test
-103 Loss Mitigation Departments
-119 Lender REO Departments
- 81 BPO Vendors
- 59 REO Management Companies
- 14 REO Organizations
-323 Lenders that report to have their own internal REO Department
C.F.S. COURSE MATERIAL ~ COMPREHENSIVE COVERAGE
Overview of CFS designation & the 4 Real Estate Agents roles
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