By Julie Escobar
This month we’re going to be diving into the world of short sales and finding out for you what’s working, what’s not and what you can do to make this niche your own in today’s quacking trending market. To help you do that – I sat down with one of the brightest stars I know in the short sales world, America’s Home Rescue’s Stacy Spickes. She and her husband Michael have taken their “learned from being in the trenches” approach to short sale success to teach more than 43,000 agents across North America so far to adopt the best practices and policies in the country for developing a short sale business that can be a win-win-win for everyone.
Join me to learn some of the tremendous statistics and strategies she has to share…
Q: Stacey – great to talk to you again! You were heading into a Lifetime television series as we were wrapping our last interview…Can you tell us a little about that and what you guys have been up to since we last spoke?
A: Goodness… this has been a wild and crazy year and so much has happened since we last spoke!
- Lifetime… Lifetime Television has a viewership of 96 million households. Over the last year we have worked with the production team of Lifetime Television to create a series of segments focused on educating homeowners about their options to avoiding foreclosure (Loan Modifications, Forbearance Agreements, Short Sales and Deeds-in-Lieu of Foreclosure). Our first segment aired in February 2010 and several additional segments ran throughout the last year. In these segments, homeowners are not only educated on their options, they are encouraged to reach out to a qualified professional who can help evaluate their situation and help them determine the course of action that best fits their needs. If it is determined that the homeowner is upside-down and needs to sell the home via a Short Sale, they are encourage to contact a properly trained professional (one of our CDRS Members via our online CDRS Network Directory at: http://www.americashomerescue.com/find_a_specialist) to help facilitate the Short Sale process. We are continuing to work with the production team of Lifetime Television to create additional segments to run throughout 2011 and beyond.
- Launch of 2 New/Unique Short Sale Training Programs for Short Sale Settlement Officers (CDRCS) and Short Sale Buyers Agents (CSSBR)…
1) CDRCS Escrow Certification Program (Certified Default Resolution Closing Specialist)… provides Escrow Officers and Closing Attorneys the training and resources unique to their specific role, responsibilities and concerns in a Short Sale.
2) CSSBR (Certified Short Sale Buyer Representative)…provides Short Sale Buyer Representatives the training and resources unique to their specific role, responsibilities and concerns in a Short Sale.
Q: How has the “Making Homes Affordable” program changed the way you do business and how short sale experts work with consumers?
A: When the Making Home Affordable Program was initiated in March 2009, the focus was keeping homeowners in their home through loan modifications. In November 2009, seeing that so many homeowners could not qualify for a loan modification, the Treasury formulated the HAFA Program focused on foreclosure alternatives – specifically, Short Sales and Deeds-in-Lieu of Foreclosure. Treasury implemented HAFA in April 2010 and Fannie Mae and Freddie Mac followed shortly thereafter with similar guidelines. It is important to understand that the HAFA Short Sale guidelines only apply to Conventional Short Sales, on First mortgages only, where the homeowner meets the following HAFA criteria: