Certified Foreclosure Alternatives Consultant℠ CE.5094000-RE 7Hrs. General (This course approved by the Nevada Real Estate Commission for continuing education credit) Course is Nevada-specific ~ taught by Local Authors & Trainers! Jan O'Brien, Steven Kitnick Next CFAC Class: Friday, April 18, 2014, 9:00 am to 4:30 pm Lunch Included Download Course Flyer 8363 W. Sunset Rd #350, Las Vegas, NV 89148 215 & Durango. Just 2 blocks east of S Durango. Take Gagnier Blvd south tot he 8363 Building which faces the 215 Investment: $99 if you pay before April 16th - Otherwise, $129.00 No other classes, costs, or fees! You... Read more →

Realty ONE Group - Green Valley Branch hosted a sold-out CDPE (Certified Distressed Property Expert) last week with over 55 local Las Vegas REALTORS earning the designation - joining more than 40,000 CDPEs nationwide. A Certified Distressed Property Expert® (CDPE) has a thorough understanding of complex issues in today’s turbulent real estate industry and knowledge of foreclosure avoidance options available to homeowners. CDPEs can provide solutions, specifically short sales, for homeowners facing market hardships. There are still seats available for the next CDPE, 2-day course. Receive 15 hrs of NV continuing education credits in addition to the national short sale... Read more →

Certified Foreclosure Alternatives Consultant℠ CE.5094000-RE 7Hrs. General (This course approved by the Nevada Real Estate Commission for continuing education credit) Trainers: Jan O'Brien, Steven Kitnick Next CFAC Class: Friday, April 19, 2012, 9:00 am to 4:30 pm Lunch Included 9121 W. Russell Rd., #210 LV, NV 89148 (215 & W. Russell Rd.) 215 & W. Russell Rd. Take Jerry Tarkanian Way to W. Oquendo. Look for Imortgage signage on the bldg. Investment: $99 (Reg. $229) Register ONLINE Now or call (702) 255-8722 Get answers to these questions and more..... Is a short sale the answer to your client’s situation? What... Read more →

I have updated, revised and added useful links to the Resources for Short Sales, HAMP/HAFA, Alternatives to Foreclosure Guide as of January 8, 2013. Feel free to download the document and use the resources as needed to educate and inform your clients and yourself as necessary! If you have any recommendations for additional online resources or discover a broken/bad link - please contact me. Cheers, Jan Download Short Sale Resources 1_2013 Guide for Short Sales, HAMP/HAFA, Alternatives to Foreclosure Join www.ShortSaleProfessionalNetwork.com FREE Membership is open to all Real Estate Professionals Here are links to important downloads, resource sites and articles... Read more →

Certified Foreclosure Alternatives Consultant℠ CE.5094000-RE 7Hrs. General (This course approved by the Nevada Real Estate Commission for continuing education credit) Trainers: Jan O'Brien, Steven Kitnick Next CFAC Class: Thursday, January 24th, 2012, 9:00 am to 4:30 pm Lunch Included 9121 W. Russell Rd., #210 LV, NV 89148 (215 & W. Russell Rd.) Take Jerry Tarkanian Way to W. Oquendo into the Desert Canyon Business Park Investment: $159 (Reg. $229) (Realty ONE Group agents call 702-858-9191 for 25% discount code) Register ONLINE Now or call (702) 255-8722 "Jan O’Brien & Steven Kitnick have given me new insights, depth of knowledge &... Read more →

POST UPDATE for January 2, 2013: Great News... The Mortgage Debt Relief Act of 2007 will be extended for one year. On January 1, 2013 the Senate and House passed H.R. 8, legislation to avert the "fiscal cliff," the bill will be signed by the President on January 2, 2013. Here is the text from H.R.8: SEC. 202. EXTENSION OF EXCLUSION FROM GROSS INCOME OF DISCHARGE OF QUALIFIED PRINCIPAL RESIDENCE INDEBTEDNESS. (a) IN GENERAL.—Subparagraph (E) of section 108(a)(1) is amended by striking ‘‘January 1, 2013’’ and inserting ‘‘January 1, 2014’’. (b) EFFECTIVE DATE.—The amendment made by this section shall apply... Read more →

On August 21st a news release was issued by the Federal Housing Finance Agency (FHFA) providing new standard guidelines for Fannie Mae (FNMA) and Freddie Mac (FHLMC) short sales. Download The FHFA NEWS Release on Short sales 82112 Starting on November 1, 2012, Fannie Mae and Freddie Mac will ease the rules to speed up the short sale process on the loans they guarantee, even for borrowers still current on their mortgage. One of the positives - homeowners could enter a short sale while current on their mortgage payments, but only with hardship reasons of: • Death • Divorce (legal... Read more →

Buying a HUD home in the Las Vegas area is definitely another primary residen ce or investment 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 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.... Read more →

Short Sales continue to be a major sector of the Las Vegas Real Estate Market and all signs point to this not subsiding any time soon. This post is provided to outline the variety of recommended training and certification courses available to real estate agents in Las Vegas. Realty ONE Group Continuing Education Classes (Check www.LasVegasCE.com for specific classes, dates, times and locations): Foreclosure For Sale! NEW CE Class (General) CE#5457000 The latest statistics on foreclosures in Clark county and nation wide. Discussion on AB284 and the effect on inventory. Options for the homeowner, Judicial Foreclosures, Nevada mediation will be... Read more →

Bank of America continues to work on refining their systems for short sales. In their recent short sale update to agents, BofA explained what to do if you get a valuation (BPO or Appraisal) that you question and want to have reconsidered by the bank/investor. Process Refined for Valuation Disputes Bank of America has refined the process for settling valuation disputes during a short sale. The value of a property is established by independent third-party vendors shortly after a short sale is initiated. Occasionally, however, a listing agent may wish to contest that value. When that occurs, there is now... Read more →

Bank of America has announced changes to the Short Sale Process to begin April 14 to improve the task flow in Equator and processing times. The new Bank of America short sale process will enable short sale specialists to complete tasks such as document collection, valuations and underwriting at the same time, reducing the time from initiation to closing. Before April 13, you must complete the Submit Short Sale Offer, Upload Offer Documents and Upload Supporting Documents tasks in Equator for all short sales submitted with an offer. Your file may be declined if these tasks are not completed prior... Read more →

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... Read more →

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... Read more →

The 76th Nevada Legislative Session adjourned June 7, 2011 with several new bills... now law... that will impact the real estate industry and in particular foreclosures and short sales. Here is a summary of those bills: AB273 AB 273 prevents banks from “double-dipping” and going after borrowers for the full amount of the deficiency they owe on their mortgage loan when lenders have received compensation from other sources. It will cap the amount a third party can be awarded if they bought the right to the deficiency for pennies on the dollar. Finally, it will reduce the amount of time... Read more →

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. Read more →

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)... Read more →

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... Read more →

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... Read more →

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... Read more →

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... Read more →