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SHORT SALE BANK OWNED
DEFAULT MORTGAGE OPTIONS
•LOST EQUITY •INSOLVENT•BAD CREDIT •JUDGMENTS •FORCED TO SELL•HUMILIATION
THE PROBLEM
CONTAGIOUS DEPRECIATION•ABANDONED PROPERTY•NEGLECTED APPEARANCE•LOCAL DEPRICIATION
60 Day – NOD, 90 Days NOT, 21-25 Trustee’s Sale – Unsold REO Read more at: www.AnthonyRealtyGroup.com
=
SHORT SALE BANK OWNED
FORECLOSURE PROCESS
THE PROBLEM
60 Day – NOD, 90 Days NOT, 21-25 Trustee’s Sale – Unsold REO Read more at: www.AnthonyRealtyGroup.com
HOPELESSOVEREXTENDEDPARALYZED EVICTIONDAMAGE ASSETSELL FIXTURES HUMILIATION
CONTAGIOUS DEPRECIATION•ABANDONED PROPERTY•NEGLECTED APPEARANCE•LOCAL DEPRECIATION
=
SHORT SALE BANK OWNED
DELINQUENT MTG
SHORT SALE FAILURESTAKES TOO LONG
BUYERS WALK AWAY2nd MTG PAYOFF
AGENT COHESIONLOSS MITIGATION
= DEPRECIATION ECONOMIC OBSOLESCENCE
THE PROBLEM
60 Day – NOD, 90 Days NOT, 21-25 Trustee’s Sale – Unsold REO Read more at: www.AnthonyRealtyGroup.com
$380,000,000
PROBLEM
FORECLOSURE COSTS
SHORT SALE BANK OWNED
FORECLOSURE = VACANT PROPERTY
BANKTAXES $
UTILITIES $EVICTION $
MAINTENANCE $ASSET MANAGERS $
HOA & MELLO ROOS $REHAB $
$CONTAGIOUS DEPRECIATION•Non-Warantable
60 Day – NOD, 90 Days NOT, 21-25 Trustee’s Sale – Unsold REO Read more at: www.AnthonyRealtyGroup.com
SOLUTION
SHORT SALE BANK OWNED
DELINQUENT MTG
WHAT IF ? Faster Sales Protect Value Saves Buyers Saves Sellers Saves Banks Lock Deals
FAST
60 Day – NOD, 90 Days NOT, 21-25 Trustee’s Sale – Unsold REO Read more at: www.AnthonyRealtyGroup.com
SHORT SALE = SOLUTION
SHORT SALE BANK OWNED
DELINQUENT MTG
60 Day – NOD, 90 Days NOT, 21-25 Trustee’s Sale – Unsold REO Read more at: www.AnthonyRealtyGroup.com
STOP FORECLOSURESLOCK IN A DEALNO OVERBIDDINGDEFUSE THE HYPEABSORB INVENTORYPROTECT FAMILIESTURN THE ECONOMY
FAST
$
SHORT SALE BANK OWNED
$$$ COLLECTED IN ESCROW
OFFERS STICK (Liq D)
POSSESSION (O/B)
1st RIGHT OF REFUSALMAINTAIN PROPERTYESCROW COLLECTSSETTLEMENT FUNDSREDUCED PAYOFF
= PROTECTION COMMUNITY VALUE
SOLUTION
RECOVERY PLAN
60 Day – NOD, 90 Days NOT, 21-25 Trustee’s Sale – Unsold REO Read more at: www.AnthonyRealtyGroup.com
FAST
SHORT SALE DIAGRAM
SELLER BUYER
•3rd Party Auth•Proof of Hardship•Offer + HUD
SERVICER
INVESTOR
LOSS MIT
•Upload Data•Verify Hardship•Determine Loss•Approved or Countered
•Phase I•Phase II•Phase III
TC TCBANK
ESCROW
STIPULATED APPROVAL
$ Prom Note, Funds $ Additional Funds
$ $
$ Recovery
1% of Sale
$ TARP
TITLEAPPRAISERTERMITE
SS-RUSH DIAGRAM
SELLERBUYER
•3rd Party Auth•Proof of Hardship•Adhesion Offer•HUD with $$$SERVICER
FUND
LOSS MIT
•Upload Data•Hardship Approval•Determine Loss•Reduced Payoff Approval•Supplemental Funds
•Phase I•Phase II•Phase III
TC TCBANK
ESCROW
STIPULATED APPROVAL
$ Prom Note, Funds $ Additional Funds
$ $
Credit Enhancement Provider
HOW MORTGAGES WORK
Loans Cash
Lender
Issuer
Investor
Trustee
Underwriter
Rating AgencyCash Securities Mo. Payments
Broker
Borrower
Servicer
Mo. Payments
Mo. Payments
Loan Proceeds
Loan
*TRADITIONAL MORTGAGE STRUCTURE
* NOT APPLICABLE IN EVERY SITUATION
1.) Borrower Stops Payment
2.) Servicer Notifies Investor/Trustee
3.) Issuer Reports Late Payment to rating agency.
4.) Investor Takes Action on Security
5.) Notice Of Default is Recorded/Served
6.) Notice of Trustee’s Sale is Recorded/ Served1.)
2.)
3.)
4.)
5-6.)CaliforniaDefault .orgCan help anytime before the date of Sale.
800-696-7874