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Legal Short Sales |
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Articles
Legal Hotline PowerPoint Presentations - K. Michelle Lind Resources - General
Resources - NAR AEs: Are your members running into trouble collecting their agreed-to commission from lenders in a short sale transaction? Fannie Mae has made it clear that lenders aren't to modify commissions after they've been agreed to by the seller and the sale associate. To help resolve cases in which lenders fail to honor commission agreements, Fannie Mae has agreed to guidelines for appealing lender commission actions. The short sale work flow is an educational tool intended to give brokers and sales associates a comprehensive overview of the short sale process (listing, marketing, negotiating and closing properties subject to a potential short sale). The Short Sales Work Group was authorized because existing conditions are creating a large number of sales in which the value of the property may not be sufficient to meet all of the seller's financial obligations. Webinars Freddie Mac developed a webinar entitled "Introduction to Short Sales for the Real Estate Professional." The program covers: Freddie Mac's mission to homeowners; key statistics on delinquencies and workouts; understanding the real estate professional's perspective on the current environment; retention and liquidation workout options; and the short sales process. This information will be extremely valuable for members who are relatively new to short sales. If you have any questions, please contact Jeff Lischer, 202-383-1117, jlischer@realtors.org.
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