2. WHO DOES WHAT?- WHO DO I CALL? SANDY GRIFFIN- (704) 849 8008 Sandy answers the phone, and can answer 80% of your questions as to status and what is going on with a file. SANDY handles all scheduling of Consultations ESTHER FERNANDES- (704) 841 6313 Esther works all of the files and has personal knowledge on all loss mitigation files. She is the individual that is in direct contact with the banks and short sale departments. Best mode of communication is via email with Esther. Esther will also be responsible for preparing HUD-1s for negotiation purposes. BK & SHORT SALE DEPARTMENT INTRODUCTION 2011
3. OPTION 1: SHORT SALE CONSULTATION Our Attorney will personally meet with the homeowner and the listing agent for 45 minutes for a small fee ($150) and answer any and all questions your client may have and discuss their options and the legal consequences of their actions. We also assist homeowners in the negotiation of short sales, loan modifications and deeds in lieu of foreclosure. The home owner will leave knowing their options and whether or not they qualify for a government loss mitigation program. The loss mitigation industry changes everyday, and understanding these changes and their nuances can mean the difference between a successful loss mitigation experience and the loss of the home to foreclosure. BK & SHORT SALE DEPARTMENT INTRODUCTION 2011
4. Short Sale/Loss Mitigation Negotiation If the homeowner wants the firm to handle the entire negotiation of the Short Sale and or Deed in Lieu of foreclosure we will handle the entire transaction. We will meet with the client, and collect all information necessary to complete the hardship package. We will prepare the mock HUD-1 and pull a title search to make sure that the taxes and HOA liabilities are accurate. Once the hardship package is complete we will submit it to the bank and follow up on it through approval. During this time we will be able to make what corrections are necessary, and keep the parties to the transaction informed as to status. FEE: $500.00 at time of retain- to be billed against Up to $1500 will be negotiated into the Seller side of the HUD-1 BK & SHORT SALE DEPARTMENT INTRODUCTION 2011
5. Seller’s Side Closing Representation The easy part of the Short Sale process is the negotiating of the terms. The hard part is making sure the closing happens and it is properly funded. Irregardless of who the Closing Attorney is, we can represent the seller’s interest through the closing. As Sellers Attorney, we will: Draft Mock HUD-1 for review by Bank Review the HUD-1 prepared by Buyers Attorney Draft all Sellers Documentation- Deed, Lien Waiver, and other closing documents Verify that the transaction funded and the wires were sent to the Sellers bank Use our third party cancellation company to ensure the deeds of trust are cancelled of record. FEE: will be $450.00 and will be paid on the Sellers Side of the HUD-1 Cancellation Fees will be $35.00 per release: to Require, LLC BK & SHORT SALE DEPARTMENT INTRODUCTION 2011
6. WHY USE BRADY & KOSOFSKY??? Brady & Kosofsky is not a real estate firm who does a little work in the default industry. We are a law firm designed specifically to perform in the current real estate market. Our attorneys and staff members have been working with distressed properties for over eight years. While other firms were struggling to rethink their strategy, and learn how to operate in the new economy, we had four years under our belt. Our Attorneys are nationally published and respected resources on local and national issues in the real estate and default industry. We trained the banks how to prepare the new hud-1, we advise the US government how to operate in the Carolinas. BK & SHORT SALE DEPARTMENT INTRODUCTION 2011
