Jan O'Brien - Real Estate Coach

Las Vegas Short Sale Training - Certified Foreclosure Alternatives Consultant℠

CFAC℠ Designation Course

Las Vegas Short Sale Training
Certified Foreclosure Alternatives Consultant℠

 CE.5094000-RE 7Hrs. General

Trainers: Jan O'Brien, Steven Kitnick, & Attorney Robert Noggle

Next CFAC Class:
Thursday, February 23, 2012, 9:00 am to 4:30 pm
Lunch Included 

Imortgage 9139 W. Russell Rd., #100, Las Vegas, NV 89148      
215 & W. Russell Rd.  Jerry Tarkanian Way to W. Oquendo Rd. into the Desert Canyon Business Park ~ behind the Bank of George in the Johnson, Jacobson, Wilcox Bldg.  Enter Bldg. on West Side.  

$119 (Reg. $229 ~ Save $110)

Register ONLINE Now or call (702) 255-8722

Download CFAC_Class_feb 23_2012

 Get answers to these questions and more.....

• Is a short sale the answer to your client’s situation?      
• What liability will you incur if you recommend a short sale without exploring alternatives?         
• What are the alternatives to foreclosure?      
• Why should you partner with attorneys, CPA’s and other trusted advisors?       
• How do you reduce the potential risk and legal liability when processing and negotiating a short sale?        
• What are the options for negotiating a short sale?  Who can legally do it? 

Once you complete the Certified Foreclosure Alternatives Consultant Designation Course, you’ll be a trained consultant who understands the alternatives to foreclosure with an emphasis on the short sale process.

Course content includes:

• Using the Educational / Consultative Approach
• Advanced Communication & Negotiation Techniques
• Current Market Trends
• HARP, HAMP, HAFA
• Nevda Foreclosure Mediation Program
• Options for Remaining in the Home
• Options to Sell or Give Up the Property
• A Complete Short Sale Listing System
• Effectively Working With Short Sale Buyers
• Loss Mitigation and Servicer Processing Tips
• How to Reduce Your Risk & Liability in Today’s Market
• Legal & Tax Ramifications for the Short Sale Seller

CFAC - Las Vegas Short Sale Certification Training - November 17th

CFAC℠ Designation Course

Las Vegas Short Sale Training
Certified Foreclosure Alternatives Consultant℠

 CE.5094000-RE 7Hrs. General

Trainers: Jan O'Brien, Steven Kitnick, & Attorney Robert Noggle

Next CFAC Class:
November 17, 2011, 9:00 am to 4:30 pm

Download CFAC_flyer3_Nov17_2011

Traccia Clubhouse ~ Summerlin
11350 Merado Peak Drive, Las Vegas, NV 89135
Just west of the 215 Beltway off W. Sahara Ave.
Across from the entrance to the Red Rock Country Club

$119 (Reg. $229 ~ Save $110)

Register ONLINE Now or call (702) 255-8722

 

Once you complete the Certified Foreclosure Alternatives Consultant Designation Course, you’ll be a trained consultant who understands the alternatives to foreclosure with an emphasis on the short sale process.

A CFAC℠ genuinely cares about their clients, always places the clients’ interest above their own, and never ventures outside of the scope of their expertise.

A CFAC℠ encourages clients to partner up with other trusted advisors such as attorneys, CPA’s, and financial consultants.

A CFAC℠ educates the client so they can make an informed decision as to   what’s in their “best interests.”  If the client determines that the short sale is their best option, no one is better trained to successfully process a short sale transaction than a CFAC℠.

Course content includes:

• Using the Educational / Consultative Approach
• Advanced Communication & Negotiation Techniques
• Current Market Trends
• HARP, HAMP, HAFA
• Nevda Foreclosure Mediation Program
• Options for Remaining in the Home
• Options to Sell or Give Up the Property
• A Complete Short Sale Listing System
• Effectively Working With Short Sale Buyers
• Loss Mitigation and Servicer Processing Tips
• How to Reduce Your Risk & Liability in Today’s Market
• Legal & Tax Ramifications for the Short Sale Seller
• Implementing the CFAC℠ Business Model for Your Continued Success

Realty ONE Group to Host CDPE in Las Vegas, July 21-22

Realty ONE Group will be hosting a CDPE ( Certified Distressed Property Expert ) training on July 21 & 22, 9:00 - 5:30, at the Green Valley Office.  You will receive the CDPE designation, learn how to reduce short sale processing time by  50% and learn how to close 4X as many deals.  Plus you will receive 15 hours of Nevada CE.    

Class is filling up fast - Register Now to Reserve a Seat!

REGISTER HERE - Don't Forget to use the Special Code to get $100 discount: ECD011

Realty ONE Group agents - contact your manager or call Jan O'Brien 702-898-7575 to get code for ROG special pricing.

July 21 & 22, 2011
Registration begins at 8:00
Class from 9:00 am - 5:30 pm

Realty One Group- Green Valley Training Room
9089 S. Pecos Rd. #3400
Henderson, NV 89074

800-482-0335

Download CDPE Las Vegas Course Registration Flyer

 

Free Webinar - PREVIEW OF CDPE...

Cracking the Code in Today's Distressed Market
Thursday, July 14th at 11:00 am PST

Preview presented by Tony Martinez of Charfen Institute. 

You may have heard that the real estate market is on its way to recovery and that short sales are a thing of the past.

The truth is, a record number of short sales closed in 2010, and the numbers are expected to INCREASE by at least 25% this year!

Now, more than ever, you have an opportunity to grow your commissions by serving and helping homeowners avoid foreclosure.

The common myth about short sales is they are too diffucult and take way too long to complete. With the right systems and tools you can eliminate frustration and almost DOUBLE your transactions today.

Join us for a FREE webinar, where you'll learn:

• How do you close 4X more transactions than the average agent ever year?
• How do you quickly become the go to source in your market for the biggest new source of closings in today's market?
• The turnkey systems you must implement to achieve success from this point on in real estate.
• Eliminate the fear of making embarrassing mistakes in this new market.
  
  

Cracking the Code in Today's Distressed Market
Thursday, July 14th at 11:00 am PST

 

Las Vegas Short Sale Training Certification Course - CFAC - June 24, 2011

CFAC℠ Designation Course

Las Vegas Short Sale Training
Certified Foreclosure Alternatives Consultant℠

 CE.5094000-RE 7Hrs. General

Trainers: Jan O'Brien, Steven Kitnick, & Attorney Robert Noggle

Next CFAC Class:
June 24, 2011, 9:00 am to 4:30 pm

 iMortgage 9139 W. Russell Rd., #100, Las Vegas, NV 89148

Just West of the 215 Beltway at W. Russell Rd. in the Desert Canyon
Business Park ~ Look for the Johnson, Jacobson, Wilcox Building behind
the Bank of George. From 215 Beltway exit Russell Rd., take Jerry
Tarkanian Way to W. Oquendo Rd.

$109 (Reg. $229 ~ Save $120)

Register ONLINE Now or call (702) 255-8722

 

Once you complete the Certified Foreclosure Alternatives Consultant Designation Course, you’ll be a trained consultant who understands the alternatives to foreclosure with an emphasis on the short sale process.

A CFAC℠ genuinely cares about their clients, always places the clients’ interest above their own, and never ventures outside of the scope of their expertise.

A CFAC℠ encourages clients to partner up with other trusted advisors such as attorneys, CPA’s, and financial consultants.

A CFAC℠ educates the client so they can make an informed decision as to   what’s in their “best interests.”  If the client determines that the short sale is their best option, no one is better trained to successfully process a short sale transaction than a CFAC℠.

 

Course content includes:

• Using the Educational / Consultative Approach
• Advanced Communication & Negotiation Techniques
• Current Market Trends
• HARP, HAMP, HAFA
• Nevda Foreclosure Mediation Program
• Options for Remaining in the Home
• Options to Sell or Give Up the Property
• A Complete Short Sale Listing System
• Effectively Working With Short Sale Buyers
• Loss Mitigation and Servicer Processing Tips
• How to Reduce Your Risk & Liability in Today’s Market
• Legal & Tax Ramifications for the Short Sale Seller
• Implementing the CFAC℠ Business Model for Your Continued Success

Las Vegas Short Sales - 7 Reasons Why You Should Work with an Agent-Friendly Attorney

Guest Blogger,  Steven Kitnick provides these seven considerations for working with a REALTOR-friendly attorney who has experience with the Las Vegas Short Sale Process.

1) A distressed homeowner should speak to an attorney before you list their property so the homeowner may review their options, and so you’re not liable for what they choose to do.

2) When you take on a client who is in financial distress you may have a higher standard of care to protect their best interests.

3) An attorney allows clients full protection and representation.

4) An attorney may gain more leverage over lienholders during the negotiation process.

5) If your clients have assets &/or future or current income, an attorney can offer guidance about exposure to collection attorneys &/or tax authorities.

6) An agent-friendly attorney will aggressively negotiate for your full commission.

7) If you’re negotiating your own short sales you’ll likely limit the number of transactions you can close per month. By using an attorney you leverage your workload, there’s no limit to the number of deals you can close per month.

 

Steven Kitnick, CFAC, CSP, CNE, GRI, RRG
Managing Director, Steven Kitnick Seminars, LLC
Continuing Education Instructor & Author
Nevada Real Estate Broker/Salesman & California Real Estate Broker
Legal Assistant – Stout Law Firm

Steve can be reached at StevenKitnick@StevenKitnickSeminars.com or by calling (702) 326-8722.

 

Las Vegas area Real Estate Professionals...

Are you up-to-date with the Nevada Short Sale Process?

Next CFAC℠ Designation Course
Las Vegas Short Sale Training
Certified Foreclosure Alternatives Consultant℠

Download Cfac_april20_2011_flyer
Trainers: Jan O'Brien, Steven Kitnick, & Attorney Robert Noggle
Wednesday, April 20th, 2011 | 9am to 4pm includes Lunch

Location: iMortgage 9139 W. Russell Rd., #100, Las Vegas, NV 89148
Just West of the 215 Beltway at W. Russell Rd. in the Desert Canyon Business Park ~
Look for the Johnson, Jacobson, Wilcox Building ~ entrance on west side of bldg.
From 215 Beltway exit Russell Rd., take Jerry Tarkanian Way to W. Oquendo Rd

$109 (Reg. $229 ~ Save $120) Register ONLINE Now or call (702) 255-8722

This course is sponsored by Steven Kitnick Seminars, LLC and is approved by the Nevada Real Estate Commission for continuing education credit.
Cancellation/Refund Policy. There are no refunds.

Las Vegas Nevada HUD Homes - Bid Process and Procedures

Buying a HUD home in the Las Vegas area is definitely another investment and primary residence alternative.  FHA loans have increased dramatically over the past couple of years due to the decreasing prices of Las Vegas Homes.  Therefore, expect to see the number of HUD homes available to continue to increase.

What is a HUD Home?

When a homeowner with a Federal Housing Administration (FHA) insured mortgage can't meet the payments, the lender forecloses on the home; FHA pays the lender what is owed; and then the United States Department of Housing and Urban Development (HUD) takes ownership of the home.  HUD then sells it at market value as quickly as possible. BLB Resources is the current HUD Asset Manager for our region.   BLB Reources contracts with listing brokers in several states to assist in the marketing and listing of these properties through the local Multiple Listing Services.

Step 1 - (FOR AGENTS) Register as a Bidder on HUDHomeStore.com

• The principal broker must be registered with HUD and be issued an NAID number in order to submit valid bids.  Agents - your broker must be registered first before you can register.
• Agents - To register with HUD, select "Bidder" on the upper right hand corner of HUDHomeStore.com home page. 
  
  

•  Real Estate agents need their Brokers NAID #, your real estate license number, date of issuance and expiration date to register.

Step 2 - Find HUD properties for your buyer

• HUD properties can be found in the GLVAR Multiple Listing Service (Agent tip: Search for "HUDHomeStore.com in agent-to-agent remarkks) or on HUDHomeStore.com
• HUD properties are listed daily - so check the HUD website or MLS often 
• All HUD listings are on electronic or manual lockboxes
• Buyers must use a HUD registered and licensed real estate agent to submit HUD bids. 
• Financing Types:
  IN (Insurable) – these properties qualify for FHA 203(b) financing and have no obvious Minimum Property Standard (MPS) repairs. These properties may also qualify for 203(k) financing, a rehabilitation loan for
  owner occupants only.
  IE (Insurable with Escrow) – these properties qualify for FHA 203(b) with Repair Escrow, and have MPS repairs totaling less than $5,000. The repair escrow is the buyer’s financial responsibility, never a credit to the buyer. The lender holds the repair escrow money until completed (which must be within 90 days after closing) and is responsible for disbursing the funds to the appropriate parties. The escrow repair amount only applies to FHA 203(b) financing. These properties may also qualify for 203(k) financing.
  UI (Uninsurable) – these properties do not qualify for FHA 203(b) financing. Typically these properties have MPS repairs exceeding $5,000 or may not meet other guidelines for FHA financing.
  UK (Uninsurable, 203k Eligible) – these properties do not qualify for FHA 203(b) financing, but mayqualify for 203(k) financing.
• Property Availability and Bid Deadlines:
  Properties listed as IN and IE are available exclusively for owner occupant, nonprofit and government agency bidders for the first 30 days on the market. Please note the initial bid review is on the 11th day of listing. All bids received during the first 10 days are opened and reviewed simultaneously. If no acceptable offers are received, bids are reviewed daily (Mon. – Fri.) until the exclusive 30 day owner occupant period expires. Properties are then available for all bidders, with bids reviewed daily (Mon. – Fri.).

Step 3 - Complete the appropriate Sales Contract Package (Investor or Owner-Occupant)

• All the necessary Forms, Contracts and Addenda are located at BLB Resources or at HUDHomeStore.com, property detail view - click on Addendum tab
• At BLB Resources, you can also download the Selling Broker Handbook, Selling Broker Quick Reference Guide, How to Complete a HUD Sales Contract Package
  • HUD contract samples Download Portfolio
  • Step-by-Step Guide Download CompleteGuideSC
    
• HUD will pay up to 3% towards buyers closing costs
• NOTE:  HUD only pays the full escrow fee - Buyer will not be charged 1/2 escrow fee.  However, all other "normal" seller closing costs will be charged to the buyer (Transfer tax, Owner's Title policy, Recording fees).
• All signatures must be in Blue ink
• Remember, the highest net to HUD is the winning bid - basically the offer price less any requested closing costs and commission (HUD will pay a commission up to 3% of sales price).

Step 4 - Submit the Bid Online at HUDHomestore.com

• All bids are submitted electronically directly on the HUDHomeStore website and are considered simultaneous bids.  You must have the complete contract and all disclosures completed and signed by the buyer prior to submitting the bid. 
• Bid deadline time is 9:59 pm (PST)
• Simply locate the property on HUDHomeStore.com and click on "Submit an Offer" and complete all the necessary fields using your completed contract as a guide.

Step 5 - Winning Bids and Closing Procedures

• HUD will notify the winning bidder (Agent) via email typically within 24-48 hours.
• If your bid is accepted, the completed, original sales package must be delivered (over-nighted) to BLB Resources within 2 business days.
• Earnest Money Deposit must be in certified funds and made payable to "HUD or (Purchaser's Name)"
• Cash offers - provide prrof of funds.  Offers with financing - submit lender pre-qualification letter of Loan Status Report (LSR)
• Nevada HUD Closing Agent:

Western Title
5390 Kietzke Lane, Suite 101
Reno, NV 89511
Phone: 775-332-7100
Fax: 775-789-6214

NV HUD Hotline: 702-530-HUD1 (4831)

HUD Tech Support: 866-777-2034

Check out the comprehensive www.HUD.gov site for extensive and useful information.

If you are a buyer or investor interested in a Nevada HUD home, just give me a call (702-858-9191 or email me at jan@janobrien.com) and I will be happy to refer you to an experienced real estate agent who can assist you.

Bank of America Changes to Short Sale Initiation in Equator effective March 11, 2011

In case you missed this recent correspondence from Bank of America - here is an update on recent changes changes when initiating a transaction in Equator, beginning March 11.

What Is Changing:

New fields will be required when initiating short sales in Equator. Agents should be prepared to provide the following information regarding the loan and the homeowner's situation:

• Loan Number
• New: Borrower First Name
• Borrower Last Name
• New: Property Best Contact Telephone
• Reason for Default
• New: Do you have a signed purchase contract?
• New: What is the property's primary purpose?
• New: Who currently occupies the property?
• New: When was the property last occupied by the homeowner?

How This Change Will Improve the Short Sale Process:

Providing this information upfront will help Bank of America identify if the homeowner is eligible to participate in the federal government's Home Affordable Foreclosure Alternative (HAFA) program. If the homeowner is eligible, Equator will generate a message informing the agent that the homeowner must contact Short Sale Customer Care at 866.880.1232 to discuss their interest in the HAFA program. Although several attempts to contact the homeowner will be made, agents are encouraged to ask the homeowner to contact Bank of America as soon as possible, which will speed up the process.

Actions for Agents:

• Complete all required fields in the Initiation task of Equator.
• Agents who receive a "HAFA Action Required" message in Equator should inform the homeowner to call Short Sale Customer Care at 1.866.880.1232 as soon as possible to keep the process moving.
• If there is an offer on a HAFA eligible loan and the homeowner decides to opt out of HAFA, the homeowner will still need to contact Short Sale Customer Care at 1.866.880.1232 to confirm this decision, so the traditional short sale process can continue.

Additional Information:

For HAFA eligible loans, agents cannot move forward in the process until Bank of America has established contact with the homeowner. The traditional short sale process will continue for loans that are not eligible for HAFA. Although agents may be an authorized third party, per Treasury guidelines, the HAFA program requires the homeowner to independently acknowledge interest in a HAFA short sale.

Once contact has been established with the homeowner, they will be asked additional questions to confirm their eligibility for HAFA. These questions include: whether they have participated in a modification program, have a desire to sell their property and if they agree with the short sale program they are pursuing.

HAFA has many benefits for homeowners including:

• $3,000 assistance in relocation
• Deficiency waived and
• No promissory note/cash contribution

It is recommended that agents discuss all options, including HAFA, with the homeowner before marketing the property. If interested, homeowners should contact Short Sale Customer Care at 1.866.880.1232 to determine HAFA eligibility.

Please view the updated HAFA guide for enhanced information regarding the HAFA process.

 

Real Estate Professionals - Don't Miss the Next Las Vegas Live Short Sale Training

Learn more about the CFAC Designation (Certified Foreclosure Alternatives Consultant)

 

Las Vegas Homeowners and Buyers:

Jan O’Brien is an expert with the Las Vegas short sale process.   She is the co-author of the Certified Foreclosure Alternatives Consultant designation course.   Call Jan direct at 702-858-9191 to schedule a Foreclosure Alternatives Consultation today.

Considering a Las Vegas Home purchase?  Search all Las Vegas Homes for Sale using our free, interactive map-based search.

Search all Las Vegas Foreclosures, including Henderson, Green Valley and North Las Vegas bank-owned homes.

Las Vegas Short Sale Certification Training (CFAC) Saturday, March 26th

CFAC℠ Designation Course
Las Vegas Short Sale Training
Certified Foreclosure Alternatives Consultant℠

Trainers: Jan O'Brien, Steven Kitnick, & Attorney Robert Noggle

Saturday, March 26th, 2011 | 9:00 am to 4:00 pm includes Lunch
iMortgage 9139 W. Russell Rd., #100, Las Vegas, NV 89148

Just West of the 215 Beltway at W. Russell Rd. in the Desert Canyon
Business Park ~ Look for the Johnson, Jacobson, Wilcox Building behind
the Bank of George. From 215 Beltway exit Russell Rd., take Jerry
Tarkanian Way to W. Oquendo Rd.

$109 (Reg. $229 ~ Save $120)

Register ONLINE Now or call (702) 255-8722

CFAC Course Flyer: Download Cfac_march26_2011_flyer1

Course content includes:

• Using the Educational / Consultative Approach
• Advanced Communication & Negotiation Techniques
• Current Market Trends & Stats
  
• HAMP & HAFA Updates
  
• Understanding all Alternatives to Foreclosure
• A Complete Short Sale Listing System
• Effectively Working With Short Sale Buyers
• Loss Mitigation and Servicer Processing Tips
• How to Reduce Your Risk & Liability in Today’s Market
• Legal & Tax Ramifications for the Short Sale Seller
• Implementing the CFAC℠ Business Model for Your Continued Success

This course is sponsored by Steven Kitnick Seminars, LLC and is approved by the Nevada Real Estate Commission for continuing education credit. Cancellation/Refund Policy. There are no refunds.

Short Sale Commander 5.0 - Web-Based Short Sale Transaction Management

Short Sale Commander is 100% web-based transaction management and short sale processing software for agents and brokers that negotiate short sales.

Data shows that real estate professionals utilizing Short Sale Commander as a short sale processing and negotiation tool have a closing ratio five times the estimated national average, which is 14 percent.  Short Sale Commander is more than just a database system-it's a complete management solution with the essential ingredients to work smarter, minimize risk and cut costs in today's changing market.

Features Include:

• 100% Web based
• MAC Compatible
• Detailed Task Manager
• Online Document Storage
• Short Sale Package Creator
• Full Email Capabillity
• Multiple Offers Dashboard
• 7-Step Progress Indicators
• Advanced activity logs with time-stamping functions
• Lender contact management with note capability

You can't drive your business if you can't see it. With Short Sale Commander, the nation's premier short sale management software, you always have a clear, real-time view into your business operations so you can make informed business decisions and eliminate surprises.

• Multi-User, 100% web based login capability
• Customization of guest access and visibility
• Create, Assign and Track Task Management
• Manage Pipeline views for enhanced reporting
• Quickly filter your pipeline by any category
• Easily see all offers and end buyer financing for each property
• Report on estimated profits in the next 30-60-90 days

Free 14 Day Trial - Give Short Sale Commander a Test Drive!

Real Estate Professionals - Don't Miss the Next Las Vegas Live Short Sale Training

Learn more about the CFAC Designation (Certified Foreclosure Alternatives Consultant)

HAFA Program Revisions Effective 2-1-11

In my book, the jury is still out on whether or not HAFA short sales are working.

According to the Congressional Oversight Panel, the Troubled Asset Relief Program watchdog, the Treasury has spent $4.3 million through HAFA, inducing roughly 661 short sales since the program launched in April 2010.

The Treasury, in an effort to get more HAFA short sales completed has revised some program requirements that became effective February 1, 2011.

Here is a brief summary:

• A borrower's reason for relocation no longer needs to be connected to employment nor be of a certain distance from the property. Borrowers may have moved up to 12 months before certain dates in the HAFA process but may not have purchased another home.
• Servicers are not required to determine if the borrower's total monthly mortgage payment exceeds 31% of gross income. Borrowers will still be required to show a hardship.
• Servicers are now required to communicate approval, disapproval, or a counter offer no later than 30 calendar days after receiving an (i) executed sales contract, (ii) Alternative Request for Approval of Short Sale, and (iii) a signed Hardship Affidavit.
• If an unsolicited borrower requests HAFA, the servicer has 30 calendar days to determine the borrower's eligibility and, if eligible, send the borrower the Short Sale Agreement.
• HAFA will no longer impose a 6% cap on payments to each subordinate mortgage/lien holder. The $6,000 aggregate limit is still in effect.

The benefits of HAFA for the Seller continue to be:

• No deficiency judgment
• No seller contribution or promissory note
• $3,000 relocation payment to seller

Read the official HAFA Policy Update

Check the Making Home Affordable Housing Scorecards

Real Estate Professionals - Don't Miss the Next Las Vegas Live Short Sale Training

Learn more about the CFAC Designation (Certified Foreclosure Alternatives Consultant)

Las Vegas Homeowners and Buyers:

Jan O’Brien is an expert with the Las Vegas short sale process.   She is the co-author of the Certified Foreclosure Alternatives Consultant designation course.   Call Jan direct at 702-858-9191 to schedule a Foreclosure Alternatives Consultation today.

Considering a Las Vegas Home purchase?  Search all Las Vegas Homes for Sale using our free, interactive map-based search.

Search all Las Vegas Foreclosures, including Henderson, Green Valley and North Las Vegas bank-owned homes.