By rich Leffler
Mortgage-education consultant
and instructor
Professional Mortgage Consulting
Short Sales Widen Investment Opportunities
Four strategies give brokers an edge in today’s distressed-property market
With the expected increase in foreclosures and distressed properties, mortgage brokers and originators face an exciting
opportunity to increase their income
while simultaneously helping others.
With distressed single-family homes
going for discount prices, whether via
short sale or foreclosure sale, property
investors, in particular, are benefiting.
By familiarizing themselves with the nuances of investment-property financing,
mortgage professionals often can find
financing for investors who buy properties via short sales, thereby helping distressed homeowners avoid foreclosure.
In addition, this can build a mortgage
pipeline strong enough to withstand
seasonal homebuying cycles, such as
the fall and winter when most mortgage
brokers experience a significant decline
in business. Property investors recog-
nize that exceptional opportunities are
available all year, with some of the best
deals coinciding with end-of-the-year
holidays. By developing an investor-
focused strategy, mortgage brokers and
originators can bring consistency to the
business’s traditionally cyclical nature.
continued on page 48 »
can become invaluable to clients
who need investment financing.
although the rates, fees, and minimum downpayments are typically
greater and the loan terms shorter
than with conventional financing,
a hard-money lender may be an investor’s only option.
4. co-host seminars. Organize educational seminars for potential
rich Leffler, mortgage-education consultant
and instructor, is an award-winning industry
expert and speaker. He excels in customer
service, research, mortgage origination, training and consulting. He operates Professional
Mortgage Consulting, through which he creates
and teaches mortgage courses while helping
mortgage businesses train their employees
and grow. He lectures regularly on compliance
issues, mortgage sales and customer-service
strategies that win, and is available for in-house training, speaking engagements and
seminars. Contact rleffler@pmcexpert.com
or (410) 486-2430.
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