Short Sale Power Hour

Everybody’s preferred day on the Short Sale Power Hour is F’ed up Friday. It gives the boys at Group 4610 the chance to reveal an unforgettable moment in their short sale careers that may or may not be a learning experience for the rest of you.

This week, Fred takes us back to a time when he was putting a short sale together with Ray at EMC Mortgage. Fred and Ray were working on file that was perfect. By flawless folder, we are referring to the proposal and the BPO were the exact same quantity. Both were priced at $315,000. Fred knew the offer and he knew the BPO because he did his research. Ray accepted the agreement. Nevertheless, he said that EMC would only pay 5 percent commission since it was a luxury house.

You have been called into the office of your supervisor and you know the news is not good. Some of your coworkers have come out with pink slips and the horrible look of a deer caught in headlights. Well, after a little bit of chit-chat, you are also handed your pink slip. A few words of, “I’m sorry”, and you are no longer an employee of the company. How will you and your family survive? Can you use foreclosure services even though you are not sure of the outcome?