Description

This class is designed to provide real estate professionals with in-depth knowledge and practical skills related to foreclosure procedures and mitigation strategies. Participants will gain a comprehensive understanding of foreclosure processes, ethical considerations, and effective strategies to assist distressed homeowners facing foreclosure. 

Upon completion of this course you will be able to: 

• Understand the three types of foreclosures.
• Describe the foreclosure process
• Describe the difference between lender foreclosure and association foreclosure
• Describe the difference between lender foreclosure and tax foreclosure 
• Understand how distressed property sales impact credit
• Explain the processes and benefits of short sales and deed-in-lieu transactions as alternatives to foreclosure.
• Understand the Mortgage Debt Relief Act 8. Recognize common foreclosure rescue scams and educate homeowners on how to avoid falling victim to fraudulent practices.
• Explore federal and state assistance programs aimed at mitigating foreclosures and supporting distressed homeowners. 
• Recognize legal and ethical considerations when dealing with foreclosure cases and protecting homeowner rights. 
• Develop negotiation skills to work with lenders on loss mitigation options for homeowners.
• Learn how to assess a homeowner’s financial situation to determine suitable foreclosure prevention strategies.