This course is unique. It is the first and only industry training which covers the details of government’s new Making Home Affordable Program (MHA).
More than 85% of the mortgages are handled by servicers participating in the Making Home Affordable program. It is mandatory, in effect now, and totally reinvents the way Short Sales must be done – new process, new rules, new standardized paperwork! The Short Sale process of the past will not work.
Servicers are staffing up and training loss mitigators in large numbers to handle the volume. The government is starting to audit files and fine those servicers who aren’t following program guidelines.
Real estate agents who don’t know the new rules and don’t use the right process and standard paperwork will soon be at a serious disadvantage.
CAP Short Sale Success training will teach you what you MUST know to complete successful short sales.
Here are some examples of how MHA changes things:
There is just one time between default and foreclosure when a short sale will even be considered.
The loss mitigator will approve a short sale attempt in advance.
You still list with the seller, but the loss mitigator will set the list price and listing term
Get the picture? It’s a whole new ballgame!
How will you benefit?
It’s quick and convenient.
The specific information you need is right at your fingertips. We’ve reviewed the piles of government information and condensed it all down to what’s relevant and important for you to know. You will probably be able to complete the CAP online course in about four hours. You can even study at home in your pajamas.
You get real value for a low price.
Compare prices for short sale training and you’ll see that the CAP Short Sale Success course offers lots of value. You can even log back in and review the training or download updated materials as often as you wish, for a full year. The downloadable workbook is packed with forms, checklists, sample letters, and other essential tools.
We’ll keep it current for you.
You’ll stay current because the CAP course and resources are updated for you constantly. New forms, checklists and other materials will be added to the online workbook as they are released by the government. Other updates will be added to the course content. Just log in anytime for a full year and access what’s new. You’ll also find full information on program revisions as they happen on both the CAP website and the CAP blog. There are numerous places for you to go to find and download new materials for your Short Sale toolkit.
You’ll be ahead of your competition.
Completing the CAP course soon will give you a competitive advantage. The Making Home Affordable Program is in effect now. Participating loan servicers are required to use the rules, guidelines and paper work. Their loss mitigators are still going through training, but it won’t be long before the program is fully operational. Agents who understand the program will have a head start on the competition. You’ll be helping homeowners and closing sales while others try to learn what has changed.
You’ll be helping homeowners who really need you.
We know we’ve already said this, but it’s so important, we want to say it again. You’ll be able to provide critical information and service to homeowners who without your help will likely face foreclosure. Do your part. Get involved. Get trained. Get to work.
Here's some of what you’ll learn :
Eligibility requirements for the MHA program
The new MHA mandatory Short Sale process and the one point during loss mitigation when a Short Sale will even be considered
The three “packages of information” the servicer now requires (with checklists)
How servicer and investor motivations have changed
The new financial incentives for servicers and lenders and how to use them in negotiating
Who now sets the list price and listing term – it’s not the homeowner
The government’s new rule covering your commission
What the government will now pay to your seller
Why removing junior liens just got easier
Who is now policing the servicers to be sure they perform (and how)
The latest on debt forgiveness and seller’s tax liability
And more…
Course Modules:
Introduction
Mortgage Forgiveness
The Making Home Affordable Program
How The Making Home Affordable Program Works
Deal with Distressed Sellers and Loss Mitigators
Increase the Odds of Short Sale Success
List the potential Short Sale Property
Develop and Implement Your Marketing Plan
Negotiate the Contract and Close the Deal
Prospecting for Short Sales
Working with Luxury Short Sales
Conclusion
Materials You Need for Success:
The course also includes a 46-page downloadable "workbook" of relevant checklists, documents, sample letters, the new required forms, and more.
Achievement Certificate
Complete the course and earn the CAP Short Sale Achievement Certificate, indicating you have received Making Home Affordable training from The ILHM Center for Asset Preservation.
Get Started Now
The online course is self-paced, and can be completed in about 4 hours. When you register for the course, you'll enjoy ongoing access to the course and updates for a FULL YEAR. NOTE: In January we are currently updating the course to reflect the changes to the Making Home Affordable program recently announced by Treasury.
About the Center for Asset Preservation (CAP)
Real Help for Homeowners in Financial Distress
Our primary mission is to arm real estate professionals with up-to-date training and the information necessary to help homeowners who are in default (or about to be in default) on their home loans. The new CAP Short Sale Success course covers the critical information REALTORS® must know about the government programs including Making Home Affordable Program and the new processes, rules and paperwork required for successful Short Sales. CAP is a division of The Institute for Luxury Home Marketing, an international training and membership organization.
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