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Financing Your REO Property 245

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Description:

When working with banks and other REO sellers it is critical that your buyers have their finances well in order before submitting offers on their properties. Put simply, at this stage of the process it is unacceptable to miss out on commissions simply because you failed to dot all your "i's" and cross your "t's."

In addition, REO properties are often sold "as is," which could raise a few red flags when it comes to finding the right loans. Accordingly, you have to know this system inside-out, understanding your buyers' individual financial situations and knowing whether or not their properties will qualify for financing.

Cathy McDaniel — who boasts more than 15 years in the REO industry working alongside banks, lenders, asset management companies, buyers and mortgage lenders — goes in-depth on everything you need to know regarding how to finance REO deals right every time in this two-and-a-half-hour Certified Foreclosure Agent training course offered through Foreclosure.com Agent University.

She has worked within the REO arena for nearly two decades as a Broker Price Opinion (BPO) specialist and REO listing agent, working HUD homes for major industry players such as Freddie Mac, HomeSteps and Countrywide, among others. Cathy knows REO financing inside-out.

This course will cover:

The definition of "as is" condition from mortgage companies
Planning for a mortgage today and the importance of selecting
the right loan for your buyer
The REO seller sets the rules: What does the REO seller want from
the buyer and his or her lender?
Mortgage products — FHA 203(k) streamline "Buy and Repair"
and "Energy Efficient Mortgage" program

"Financing Your REO Property" will provide you with better understanding on financing REO properties and identifying property condition lender concerns, as well as details of several FHA "buy and repair" finance programs and what REO sellers require from the buyers and their lenders prior to closing.

Please note: You will be emailed the course test within one business day of your On Demand purchase.

Remember that this incredible career-building opportunity is discounted for current Certified Foreclosure Agent members. Not a Certified Foreclosure Agent member?

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Presenter:

Cathy McDaniel

Cathy — a Master-level Certified Foreclosure Agent instructor — is one of the most recognized experts in the REO industry. Her background of more than 16 years as a real estate agent and loan originator gives her a unique insight into our current market condition.

She is one of the industry experts on matters related to HUD-FHA financing, bank foreclosures, BPOs, short sales, loss mitigation, pre and post home counseling, foreclosure prevention and intervention.
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Acting as consumer advocate to real estate and mortgage professionals, Cathy has taught over 20,000 real estate agents since 2007 and is the author and co-founder of the following designations exclusively presented through the American Real Estate University, Affiliates 360 Training and Foreclosure.com:

Foreclosure Real Estate Owned Specialist® (REOS)
Real Estate ShortSale Specialist® (RESS)
Real Estate Trusted Advisor® (RETA)
Real Estate FHA Advisor® (REFA)
Real Estate Loss Mitigation® and Short Sales® (RELM)
Real Estate Community Service and Outreach® (SERVE)
Real Estate HUD Homes and FHA Financing® (REGOV)
Faith Based Initiative® (GRACE)

Her most recent accomplishment is a book written specific for foreclosure prevention named "A Road Map to Saving Your Home" — a great resource for consumers, real estate and mortgage professionals.

Cathy was named the 2008 Educator of the Year by the Georgia Real Estate Educators Association for her innovative and effective approach to mentoring and training. She is also a certified REALTOR® and member of National Association of REALTORSŽ.
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