Options to Avoid Foreclosure

Options to Avoid Foreclosure

Foreclosure.  It’s a paralyzing event, and certainly one of the biggest misfortunes that can befall someone in their lifetime. It damages credit, and can ruin marriages & livelihoods with ease. If not handled correctly, the negative impact of a Foreclosure can last for decades.  Because this experience is so incapacitating, we thought it would be appropriate to discuss the different options available to someone in this type of situation.

Option #1: Do Nothing. 

-A Foreclosure will complete on the Auction sale date, and the Bank will end up taking possession. The homeowner will be evicted.

-Lien holders may impose deficiency judgments or 1099s for taxes on forgiven debt to the homeowner.  A deficiency judgment is debt, and damages debt/income ratios, as well as the ability to qualify for loans.**Certain homeowners may be Tax exempt; Speak to your CPA.

-“Foreclosure” is recorded on the homeowner’s credit report for ~10 years, and their rating drops significantly. This makes it very difficult to qualify for new credit, and increases interest rates on existing credit accounts.  It will be ~ 4 years before being able to purchase a new house.

Option #2: Catch up on payments.

          -The homeowner must ask their Bank for a “Payoff Statement.”

            -The homeowner must pay 100% of balance.  Partial payments are rejected whilst the Foreclosure is in progress.

Option #3: Forbearance Agreement or Loan Modification.

            -Forbearance: The Bank will ask for 40-50% of arrears and costs up front, with the remainder balance due over the next 9-12 months.  The Forbearance payments are in addition to regular mortgage payments.  The Foreclosure stays pending and occurs if a payment is missed or partial.  **A very high percentage of Forbearances fail, and the Bank keeps what was paid.

            -Loan Modification: The Bank will ask for 40-50% of arrears and costs up front, with the remainder balance due/placed at the end of the loan. Payments may increase due to loan type, and the interest rate will increase due to damaged credit. The Foreclosure stays pending, and occurs if a payment is missed or partial.

Option #4: Deed in Lieu of Foreclosure.

            -The Homeowner voluntarily gives their keys & house to the Bank, in exchange for stopping the Foreclosure proceedings.

-The Homeowner is still exposed to deficiency judgments or 1099 for Taxes, which damages credit similar to a Foreclosure.

-“Deed in Lieu” is just as bad as “Foreclosure” on a credit record.

-A Deed in Lieu of Foreclosure is not possible if there are junior liens attached to Title.

Option #5: Re-Finance

            -Due to missed payments & damaged credit, Banks will typically only offer 60-70% LTV.

Option #6: Sell, working with only a Real Estate Agent

            -The Property must sell for a price significantly more than is owed, in order to pay the mortgage in full.  Additional costs associated with closing are incurred, such as commissions, concessions, settlement fees, recording fees, insurance, Taxes, utility/water bills, & status/transfer fees.

-Most Real Estate Agents don’t specialize in Short Sales, and don’t want to deal with them.

-Very few Real Estate Agents know the loopholes of the Short Sale system.

Option #7: Short Sell, working with Foreclosure Solutions & Real Estate Agent

            -The Bank will sell the property at a discount (short), in order to avoid the expenses associated with foreclosure & property ownership.

-The homeowner & Real Estate Agent receive the benefit of working with a company that specializes in this field, and are experienced in Short Sale negotiations.  This allows the Real Estate Agent to focus on their specialty: Marketing the property for a Buyer.

-Nearly all costs associated with the sale of the Property are covered/paid by the Bank; including commissions, concessions, and Title fees.

-Deficiency Judgments may be negotiated away.

-Replaces “Foreclosure” on the homeowner’s credit record with “Settled Debt,” which is much less damaging. Credit rebuilding can begin sooner.

-NEVER guaranteed, since it is dependent on Lender approval.

Option #8: Foreclosure Deferment.

            -The Homeowner may be eligible to defer the foreclosure auction for 90 days.  They must occupy the property as a principle residence for the 90 days following the “Notice of Election & Demand” filing date.  They must intend on remaining in the residence.

            -The Homeowner will receive a deferment notice from the Bank, and will need to contact a counselor within 20 days.  The Counselor will explain several avenues that the Homeowner may pursue, in order to avoid the foreclosure auction.

Option #9: Bankruptcy.

            -Stalls, but does not stop foreclosure.

            -May help with discharging debts afterwards, if the Short Sale isn’t accepted.

This discussion, and these “options” are merely & solely for informational purposes only. No agent employed by Foreclosure Solutions is an attorney, CPA, or Tax professional. We are not authorized to provide legal or financial advice.  It is highly recommended to seek your own legal & financial advice.

Deficiency Judgment

The Deficiency Judgment

Definitely one of the biggest factors in any Short Sale situation is the Deficiency Judgment. It is such a monumental topic that it deserves its own discussion. 

First off, what is a Deficiency Judgment?  Ballentine’s Law Dictionary describes a deficiency judgment as, “…an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full.”  In other words, a deficiency is the shortfall (difference) between what the Property sells for and what the total loan balance is. An example is a Bank foreclosing on a $100,000 note/mortgage.  In an effort to be outbid, the Bank will bid less than owed (say $80,000), because they do not want the Property.  They will then levy a “deficiency judgment” against the Homeowner, for the remaining $20,000 due.

As a matter of fact, Banks are not in the Real Estate business, but instead in the money business.  They are not interested in Real Estate specifically, and are not watching “market trends.” Their main interest when it comes to Real Estate is how much money they can make, and “Return on Investment” figures. Even when it comes to helping a Homeowner with a delinquent loan, the Bank really is only interested in the most cost effective solution, or the option/avenue that “makes” the most $$.  Especially when the Bank isn’t the owner of the loan itself, it can be argued that they only care about how their own portfolio looks. It can be because of these reasons, among other things, that Deficiency Judgments are levied.  This is not to say that Banks are heartless and run by Scrooges; since they don’t even have to offer any loan workout programs. Instead, it is mentioned merely as information necessary to sufficiently understand Banks, and why they do what they do. 

Not everything is Bank driven though. It is important to note that by and large, Banks are servicing loans on behalf of an Investor, who will dictate servicing guidelines.  Bank of America, for example, services loans for over 500 investors!  Sometimes then, it is the investor who mandates a deficiency judgment be levied, not the Bank.

The whole idea behind levying a deficiency in the first place, is to minimize losses incurred by loan defaults. Historically, deficiency judgments after Foreclosure were rare to see; Banks did not believe it was worth their time.  Among other things, there was not a lot of research available to show recovery rates, or how to identify a “good” candidate for a deficiency. Furthermore, most markets were appreciating pre-2008, so lenders could typically make 100% of their loan back through the REO sale.  Now that the markets have changed though, we are seeing a lot more deficiency judgments appear; in part because of the market crash, but also because of “strategic defaulters.” Freddie Mac defines a strategic defaulter as, “Someone who had the means but chose to go into default, that there were no extenuating circumstances that affected their ability to pay. If you’re choosing not to pay off your mortgage, but you’re paying other bills, we would consider that strategic default.”

In addition to knowing the “whats” & “whys” of Deficiency Judgments, it is also important to understand the “whens;” under what particular circumstances are deficiencies levied?  While there are no specific rules or guidelines, it is generally safe to assume that judgments are levied when someone is delinquent on payments.  This is assumed because Deficiencies arise out of settlement agreements, which usually would only take place during delinquency, e.g. Foreclosure, Short Sale, or Deed in Lieu.  The exact timing though, on how long it takes for the Bank to levy a deficiency will vary from State to State.  Some States have a 3 year Statute of Limitation (AK, DE, NH, etc.), while others have up to 15 years (e.g. KY) to pursue!  Needless to say then, that in some circumstances, lenders will wait up to a decade before suing the Homeowner; plenty of time for the homeowner’s finances to be repaired & maximizing the Bank’s chances to collect.

However, just because a Foreclosure Auction (or Short Sale, or DIL) was completed, does not necessarily mean a deficiency judgment will be levied.  There are many different factors that come into play when a Bank is considering the deficiency, including but not limited to: The property, the homeowner, the investor, the bank, the loan type, the number of liens on title, lien position, amount owed, current market value, etc.   Thankfully though, a short sale makes it possible to avoid the potential deficiency altogether; as long as a good negotiator is involved. Indeed, negotiating the deficiency away is (or should be) one of the short sale company’s top priorities.

One way to avoid the potential deficiency is to ensure the Approval Letter contains this type of verbiage.  It will need to state explicitly that the mortgagee & investor will waive their right to pursue the homeowner for any loan shortfall, and that they will accept the short sale as payment in full.  It is important to note here though, that some loan types & lenders do not need such verbiage included in their approval, since a deficiency waiver is a pre-requirement of the program itself (e.g. FHA).   Even if the deficiency is waived though, there may still be a financial obligation or liability to the property & loan, by way of Taxes.  These potential Taxes are a result of what the IRS considers “Phantom Income.”

            Investopedia.com explains “phantom income” this way; “The creditor essentially ‘pays’ the delinquent borrower the amount of debt forgiven, which is why creditors send Form 1099-C to the borrow showing the amount of ‘income’ that he or she received as forgiven debt.” An example of this in layman’s terms could be a successful Short Sale for $80,000, where there is $100,000 owed.  If the lender agrees to waive the remaining loan balance (deficiency), they could then interpret it to mean they paid 20k to the borrower.  This 20k the bank “paid,” is considered taxable income by the IRS. So any loan shortfall, deficiency, or forgiven debt will still need to be accounted for, regardless of what the Short Sale Approval letter states.

            Is it possible to avoid both the deficiency & tax consequences?  YES.  In 2007, Congress passed “The Mortgage Forgiveness Debt Relief Act,” which exempted certain transactions & homeowners from the tax implications on forgiven debt.  Because there are too many eligibility criteria to list though, we recommend going here (http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation-) to find out more on this particular topic.  It warrants noting though, that as of yet, Congress has not extended this Act past 2013; although it is fairly likely.

            The deficiency judgment is a crucial piece of the Short Sale; one which has monumental implications for the Homeowner.  It is absolutely vital that the Short Sale company you are working with understands this topic in minute detail, so that they can sufficiently tackle the obstacle with ease.

The Approval Letter

The Approval Letter

After the long, arduous process of successfully negotiating a Short Sale, the Mortgage Company must issue an Approval letter; which provides the exact terms under which the sale must take place. If any of the terms are not met, the ShortSale cannot be completed.

The Approval letter contains a plethora of information, stipulations, requirements, and is a legally binding document.  Because of this, the importance of understanding what the Homeowner(s) is/are agreeing to cannot be understated.   Furthermore, because of the Legal ramifications & implications, it is highly recommended the Homeowner(s) (and Buyer) seek Legal & Financial counsel prior to signing anything.   **After all, Real Estate agents are NOT Attorneys or Tax professionals. Nevertheless, it is not necessary to have a degree from Stanford or Harvard to be able to sufficiently comprehend the important terms of the Approval letter.

Every Lienholder involved in the ShortSale transaction must issue an Approval letter, and generally speaking, each Lienholder will have a unique Approval letter, with unique formats.  However despite the unique look, Approval letters all say the same thing: that the sale will be approved if certain conditions are met.  Since the 1st Mortgage is the big dog, they will have the most restrictive terms.  Among other things, the 1st’s Approval will dictate ~10 crucial conditions which must be fulfilled (even after the closing).

The first condition/stipulation that the Approval letter will mention, are the Seller & Buyer.  The sale is only approved between the parties named in the Contracts. The names must match exactly, and Buyers cannot be substituted.  If anything changes, the ShortSale will be declined, & negotiations must be restarted.  For example, if the Purchase Contract shows the Buyer with a middle initial, then their middle initial must be included in everything else (Proof of Funds, HUD1, etc.).  The same goes for all other parties to the transaction.  In the same vein as verifying name congruity, is making sure the Property address is correct.  Sometimes the property’s city will vary between different documents, or sometimes the zip codes don’t match, or sometimes the unit # is listed with the building # in front.   All these seemingly insignificant details must not vary in the least.

The next few conditions in the Approval letter to verify are the offer price, required net proceeds, & allowable closing costs.  While there can be no fluctuation in the offer price itself, the net proceeds are allowed to exceed the Bank’s requirement. The allowable closing costs (RE commissions, subordinate lien payoff, HOA payoff, Taxes, title charges, seller incentive) can also differ from the Bank requirements, albeit conversely (cannot exceed).

One may wonder why any of the closing costs or numbers would vary even one iota, when Bank’s are so picky & exact about everything else.  The reason is customarily due to the closing date.  Generally, the Bank will give a 30-45 day window to close in the Approval, so if the closing happens sooner than expected, the numbers can fluctuate (eg. fewer Taxes due).  An important thing to remember is that the Approval numbers are largely based off of the most recent HUD1, so it’s recommended the closing date be scheduled accordingly.

The Approval letter will most likely also mention required cash contributions, or promissory notes from the Seller.  Bank’s will try absolutely everything in their power to recoup as much of their loss as possible; so if the Homeowner has financial ability to do so, the Bank may require them to make a direct cash contribution, or sign a promissory note to complete the short sale.  These two items are negotiable though, and may make the difference between a lien release only, and a full settlement.

Depending on a multitude of factors, including but not limited to offer price, settlement date, length & nature of loan delinquency, loan balance, foreclosure auction date & financial standing, the Banks & lien holders may not agree to provide a full release for the short sale.  If the approval letter does not state specifically that the deficiency is waived, or that the offer/payment is in exchange for full and final satisfaction, it is likely that a deficiency judgment will be levied (post short sale) for the remainder of the loan amount due.  Keep in mind though, that some Banks may not chase the Homeowner for the full remainder, and sometimes they “agree” to not chase at all (despite not waiving their right to do so, keeping deficiency verbiage intact). Deficiency judgment language is one of the most important things to look at, since it is of monumental importance to the Homeowner.  As such, it is highly recommended the Homeowner contact an Attorney to determine 100% the effects of proceeding with the sale.

Finally, the Approval letter & Bank will stipulate several resale terms, such as “anti-flipping,” “sold AS-IS,” that the sale must be an “arm’s length transaction,” and that the Homeowner cannot re-purchase or remain in the home after the sale.  Furthermore, in the event that there are additional proceeds/funds in the deal, the Bank will require that they be forwarded to them, not the Homeowner. Generally speaking, the Homeowner is prohibited from receiving any funds from a ShortSale.

Any incongruities between any of the Contracts, Approval letters, HUDs, Proof of Funds, County records, Bank documents, etc. will result in an immediate decline of the Short Sale.  The extent of the decline will generally depend on the nature of the incongruity.  A new/different Buyer, for example, typically means a 100% decline & start over, so it is imperative the Buyer is legitimate, & fully motivated.

If one knows what to look for in reading/interpreting the Approval letter(s), they can save weeks, if not months of time by correcting the incongruities as they arise; instead of waiting until the last minute.  The bank worker who negotiates the offer is a different worker than the closer, so they may not notice or be aware of certain Investor criteria.  It is a misstep in judgment to “hope” that an incongruity will go unnoticed; the Bank will find out.  We are all human, and we all make mistakes and/or oversights, so it’s always best to play it safe, just in case. 

**Please be advised, neither Foreclosure Solutions, nor any agent employed by Foreclosure Solutions is an Attorney, CPA, or Tax Professional.  As such, we are not authorized to provide legal or financial advice.**

Short Sale Lead Generation

Short Sale Lead Generation

            We have received a fair amount of correspondences lately, from Investors & Agents alike, asking us where we get our Short Sale leads; or better yet, where they can find their own leads! Having been in the same boat, & since lead generation is an ongoing process, we’d like to offer some different strategies & avenues that are available to pursue.

Like any business, we had to start from scratch.   And just like any business, our procedures, strategies, expertise, etc. have all steadily been honed & sharpened as time goes on.  Arguably however, the amount of experience, success, & size of the company, does not really have an effect on the lead itself.  There are no famous Short Sale “brands” or any famous Short Sale “names” one can mention to the Homeowner to secure the lead.  Indeed, most people don’t even know what a Short Sale is!! 

In other words, there is no “easy-button,” and certainly no 100% sure-fire lead generation source.  Finding good leads is difficult and trying! Since we’ve been in the business, we have tried almost everything to find leads.   We’ve placed ads in newspapers & magazines; we’ve set up “bandit” signs; we’ve tried “cold calling;” we’ve created automatic mailing campaigns; we’ve sponsored investor/realtor groups; we’ve taught classes; we’ve posted flyers…  The list goes on and on.

In our experience, probably the top 2 best sources to find ShortSale candidates, is the weekly NED list (obtained through Title Companies, and renav.com).   A few Realtors we work with find their leads exclusively through cold calling, via leads from Renav.  Personally though, we prefer door-knocking off NED lists.  If nothing else, the Homeowner is appreciative that you went out of your way to actually meet them, instead of mailing an impersonal postcard or making an impersonal phone call.

Homeowners in this type of situation are incredibly stressed out, so one of our main goals is to just help calm them down, and let them know that there ARE options available to them, for free.  Just listening to them & their problems can go miles!   We never offer the ShortSale right off the bat, since that may not be the best outcome for the Homeowner; but instead discuss the best possible option first, then work our way down, having the Homeowner come to the conclusion that the ShortSale would be best.

We do not & cannot pressure anyone into using our services or to pursue a ShortSale, so a lot of the time we're just providing information to the Homeowner, letting them know their options & what to expect from the Foreclosure process.  Additionally, we find that a fair amount of these Homeowners are intent on keeping their heads in the sand (hoping it will solve itself), but will end up popping back up months or even years later.  As such, we keep all our potential leads on file & will periodically touch base with them.   **Case in point, we just picked back up with a Homeowner whose lead originally came to us in 2009!

The Appraisal

The Appraisal

One of the biggest factors that effect ShortSales & their processing, is the property valuation.  Depending on the type of loan & ShortSale program, appraisals/BPOs will be performed either before an Offer is received, or after. Regardless, the Bank will need to verify the Property’s worth, so as to accurately respond to the Buyer’s Offer.

            In some ShortSale programs, such as FHA, the appraisal will need to be performed before the Homeowner is even approved to participate in a ShortSale!  Once the appraisal is received, the Bank will then issue a “pre-approved” listing price, which is typically the Property’s appraised amount.  The Listing Agent then, is responsible for amending/updating the listing price to match the Bank’s value.

            In other ShortSale programs, depending on the investor, a BPO (Broker’s Price Opinion) will be ordered instead of a full blown appraisal.  These can either be interior BPO’s or external “drive-by” BPO’s.  Needless to say, a BPO does not go into nearly as much depth as an appraisal, and the consequent value will tend to reflect that.

            Regardless of the type of valuation performed, the quality & importance of said valuation is not something to be trifled with. It is our duty as Real Estate professionals to make sure these valuations are done properly, accurately, and on time. There are many things to take into consideration when evaluating a property’s worth, and a good appraiser is worth his weight in gold; although it is a fairly common occurrence to see Banks being presented with a bogus, unrealistic value. And since the value will be “valid” for up to 3 months, an inflated appraisal/BPO can put a significant strain on the ShortSale process.

            In an effort to educate & help the appraiser perform the most accurate valuation possible, there are several things that the Listing Agent or Homeowner can provide, such as the hardship letter, and CMA’s.  If nothing else, often times there are repairs needed which might not be immediately/visually evident to the Appraiser, and so the perceived value is higher than in actuality. If supporting documentation is not presented to the appraiser/BPO Agent, the value can come in too high, potentially halting any ShortSale progress with the Bank.  Compounding this issue is the lack of knowledge Bankers have about Real Estate.  9.9 times out of 10, the ShortSale worker at the Bank is located across the Country, and has no idea whatsoever about the Property’s condition & market.  The Banks only insight to the Property is the Appraisal, so it is our responsibility to make sure the Appraiser presents an accurate value.

            A few things that can be provided to the Appraiser to support and/or sway the appraisal/BPO are: Good comparables, a CMA, the MLS sheet with listing history, a separately performed appraisal, the Homeowner’s hardship letter, neighborhood statistics (average DOM, proximity to school/services [police, fire, hospital], etc.), documentation of property damage that is not immediately evident such as contractor estimates and/or the Property Disclosure, current appreciation rates (property, neighborhood, zip code, city), and even a printout/map showing the convicted felons living in the area. 

            A fair amount of the supporting documentation is intangible and might not necessarily translate to concrete value adjustments, although they are still important factors that any potential Buyer considers.  If the Bank worker knows the appraisal didn’t take some crucial details into account, they can submit a value dispute in an effort to revise the value.  Without having any additional property information on hand however, the Bank will take the appraisal/BPO as gospel.

            Providing value supporting documentation to both the Appraiser & the Bank will help the ShortSale immensely. It helps the Appraiser by making their job easier, and it helps the Bank recognize the different factors affecting the Property and its sale.  A poorly performed valuation will be a detriment to everyone involved in the transaction, and will lead to delay & conflicting information.  A proper Appraisal/BPO, on the other hand, will keep everyone on the same page, and streamline the ShortSale process.

Title Companies

Title Companies

When facilitating/negotiating a Short Sale, the importance of picking a Title Company cannot be understated. There are many vital factors to consider when making the decision of who to work with, including responsiveness, customer service, and knowledge of the Short Sale process. Since Short Sales are very cumbersome & unpredictable, the Title Company you choose can make or break the deal.

The first thing to consider when choosing a Title Company is their responsiveness.  One of the first steps when tackling a Short Sale is to order a title search on the Property.  Since the Homeowner is undoubtedly facing a hardship, and there is most likely a foreclosure auction date posted, time & patience are your enemy. As such, it is absolutely imperative that your Title Company realizes the inherent urgent nature of the title search, and completes it as fast as possible.  Many Title Companies either do not deal with Short Sales, or experience very low Short Sale volume; and as a consequence, will take up to twice the amount of time generating the needed documents.

Furthermore, the responsiveness of the Title Company will directly impact the Short Sale progress by way of HUD1 changes & updates.  Each lienholder on Title will have different rules, guidelines, and stipulations for the HUD1 that must be met in order to allow the Short Sale.  Some guidelines are relatively minor, such as specific wording, but there are also major rules that pertain to HUD1 structure, Title fees, subordinate lien payoff amounts, etc. As you are making your way through the Short Sale process, there will be roughly 5 or 6 versions of the HUD1, so an unresponsive Title Company can accumulate weeks of unnecessary delay.

Another factor to consider when choosing a Title Company to work with is their customer service, and willingness to go the extra mile.  This is especially important during the closing phase, since the banks have very strict timeframes but poor response times.  It is a relatively common occurrence in Short Sales to have a small window for closing, and because of this, it is even more necessary to “babysit” the transaction during this time.  More often than not, Buyer’s lenders cannot perform final inspections, appraisals, etc. until the Short Sale approval letter is issued.  Combine this with the small window for closing, means that sometimes final Buyer lender figures are not received until the very last minute.  Additionally, because the Bank requires the final closing HUD1 ≥ 48hrs prior to closing, it is very common to be scrambling late in to the night, finalizing fees & documents.  A good Title Company will realize the time sensitive deadlines, go the extra mile, and assist the transaction as needed, even during their personal time!  A bad Title Company will only work the standard 9-5, and will not recognize the urgency of the request, greatly increasing the risk of Short Sale failure.

Lastly, choosing a Title Company that deals with Short Sales on a regular basis, or has in-depth knowledge of the Short Sale process is extremely crucial. As previously mentioned, many Title Companies do not deal with Short Sales, or have very little experience dealing with them.  Among other things, Title Companies that are not familiar with Short Sales or the process will take up to twice the amount of time as other Title Companies generating needed documents. Additionally, Banks are exceptionally picky & stringent on how the HUD1 needs to be structured & worded, so a significant amount of time can be saved by having a Title Company that knows these requirements.  There are also many fees & closing costs that Short Sale Banks typically will not agree to pay, so a good Title Company will know to preempt the Bank & structure the HUD1 accordingly from the beginning!

In this same vein, all Banks will have Short Sale program/bank/investor specific documents that will need to be signed at closing, and not all Title Companies know exactly how or why these closing documents must be executed.  After all, many Bank specific documents are redundant with the Purchase Contract, Listing Contract, and their addenda.  However, while these documents are seemingly pointless, the Short Sale can & will fail if they are not fully executed. Indeed, as it is not uncommon to be scrambling after closing, getting Bank specific documents signed, due to an inefficient or inexperienced Title Company.

The Title Company is an essential cog in the Short Sale machine. They can make or break the deal with very little ease, due to response times, customer service, and knowledge of the Short Sale process. A bad Title Company can/will cause undue stress, waste time, and prepare insufficient HUD1s; ultimately putting the Short Sale in jeopardy.  A good Title Company, on the other hand, will be the exact opposite.  They will respond to requests promptly, go the extra mile, and have extensive experience in closing Short Sales; consequently becoming an integral partner & team mate to ensure the best chance for success!