LawsonGroupMediation

Buyers, sellers, and agents alike are very frustrated over the long delays in processing short sales. There are reasons for these delays but understanding them will help alleviate some of the frustration.

In a large number of short sale cases, the lender has required the sellers/borrowers to sign a  promissory note as a condition of the short sale approval.  We often are asked if there are ways to get rid of that promissory note after the short sale is completed. The answer is “Yes!”  However, before describing the Continue reading...

Recently we have seen a rash of demands from second lien holders for $6,000 to $6,500 to release the lien.  The amounts were so consistent I decided to look further into this.  I contacted a number of insider friends who wok for various lenders and secondary market investors to determine the motivation behind these consistent Continue reading...

Recently we had a case where an agent reported that the homeowner of a home being sold as a short sale had just died.  What happens then?  Can the home still be sold in a short sale? I receive a number of inquiries concerning the steps to take when the homeowner dies before the short Continue reading...

In my 20 years of practicing law, I have seen a lot of lawsuits over some of the what sometimes seem to be the least likely situations. I have written in the past on several cases some various situations in which real estate agents may be at risk from seller clients in short sale cases. Continue reading...

A recent court case underscores a recommendation I have been making for agents involved in short sale cases. The homeowners contracted with a real estate agent to sell their home.  With the drop in market values, the agent helped the homeowners understand that they could still sell their home as a short sale. The homeowners Continue reading...

Ready for change?  Here it comes…or is it? Through these articles, or blog posts, I have been attempting to educate agents concerning the many, many issues of misinformation that have provided in short sale books, courses, and training seminars.  Since I really have more of a warm heart of a teacher than a lawyer, I Continue reading...

There was a recent press release from the U.S. Treasury that stated that the Treasury Department would soon finalize plans to increase incentives for “banks” to approve short sales. The “banks” here includes both the servicing lenders and the secondary market investors, and it is usually (but not always) the secondary market investors who approve Continue reading...

I watch a lot of real estate agents, investors, and other business people struggling to stay on top of all the many details in running a successful business. Moving a business from a start-up or even a stumbling position to an income-producing successful business is all about conforming your business to a successful model and Continue reading...

A lot of people have been required to sign a promissory note as a condition to the lender approving a short sale. The promissory notes are usually for a small to moderate percentage of the deficiency balance, paid over ten (10) years, with no interest.  The promissory note requirement is usually a good deal, and Continue reading...