What every agent, mortgage broker and consumer must know.

Real estate agents, are you engaged in short sales? Performing loan modifications? Have clients’ facing foreclosure or trying to modify their mortgage? Are you inadvertently a “Debt Management Service” or “Foreclosure Consultant?”

Foreclosures are on the rise and so are the late-night-TV hyped seminars about how to profit from foreclosures, loan modification and short-sales. The information provided in these seminars is reasonably accurate.... but only up to a point. What many of these seminars fail to disclose is when a “rescue,” short sale or loan modification crosses the line and becomes a scam that takes the equity away from home owners.

Course Objectives:
• The foreclosure process
• The legal methods for curing foreclosures
• How the process is being misused by scammers
• The licensed professionals' liability under The Laws of Agency, Consumer Protection Act, Mortgage Brokers Practices Act, Federal SAFE Act, new state laws and how to avoid harming consumers.
• Where to send consumers for additional information and assistance.

This class will explain:

• How mortgage “elimination” scams work, are sold and gets hurt
• When a short-sale crosses the line and becomes a scam or damaging to the borrower
• Who can legally “negotiate and loan modification or short-sale…. and who can’t
• Who can receive a referral fee for recommending a “negotiator”
• The four primary foreclosure “rescue” scams
• The legal issues for agents, mortgage brokers, loan officers, appraisers and “investors”

This class has been approved for Continuing Education (CE) credits.
(3 Hours)