In today's real estate market borrowers who are interested in purchasing a home will likely consider the growing inventory of Real Estate Owned (REO) property. These properties may offer attractive pricing, but also present hidden challenges and pitfalls to potential buyers. Homeownership counselors, providing comprehensive individual counseling, can equip clients with timely information to make informed decisions and protect their future asset. Participants attending this course will learn:
Who is selling these properties (from nonprofits, municipalities, banks, etc.)
How to assist your client through careful analysis of the sales contract
How to engage home inspectors and avoid the pitfalls of purchasing "as is" properties
How to determine if special financing may be available for clients purchasing REO properties.
What are the counseling program details of HUD's Neighborhood Stabilization Program (NSP), and how to determine if this program can help meet the needs of your clients.
This course was previously titled Advanced Foreclosure. This is an advanced level course for counselors with at least one year of foreclosure intervention counseling experience. Participants in this two day class will examine a variety of actual foreclosure cases and participate in exercises and activities that will help them develop their ability to access, evaluate and recommend options to the borrower that are viable options to prevent foreclosure.
This course is recommended for those who have already completed HO345rq. This two day advanced class takes an in-depth look at how a finely tuned loss mitigation plan is presented to a servicer/investor and what negotiation and sales skills should be employed in order to achieve an outcome favorable to the client. This course features two days of role play, case studies, and negotiation tactics necessary to develop and a wide variety of foreclosure intervention plans. Whether or not you've had sales and/or negotiation experience in the past, this course will prepare you to overcome objections the servicer may have when presented with a loan modification request.
