ZOOM! Loss Mitigation CEO Earns SFR Designation

Randy Cochrane, CEO of ZOOM! Loss Mitigation Specialists has just received a new designation, the SFR (Short Sales and Foreclosure Resource) Designation. Mr. Cochrane has completed live classes and online training to bring ZOOM! Loss Mitigation's clients the highest level of service with short sales and foreclosures.

The National Association of REALTORS offers the SFR certification to REALTORS who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. REALTORS who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

In this market, Mr. Cochrane felt it was very important to be as knowledgeable as possible to help not only sellers in troubled times, but buyers as well. There are many aspects of a transaction that change depending upon the situation of the seller.

Treasury Announces New Short Sale Process

The U.S. Treasury Department on Monday released a plan to speed up and encourage Short Sales as a means to help families avoid foreclosure. We've been offering Short Sale proposals to public officials for over a year, and although the new guidelines aren't everything we were hoping for, they do represent a significant improvement over the current situation.

Short Sales have been difficult to close, and these new measures are a huge step in the right direction. One major highlight: A lender must give a yes or no answer to an offer within 10 days. Also included: a moving allowance, incentives for sellers and lenders, commission rules, and a stipulation that releases sellers from debt liabilities.

Here's an initial Reuters news story outlining the new policies.

As we've said throughout 2009, the key in this market is to become a expert. Industry experts are speculating a tremendous increase in Short Sales during the coming year. At ZOOM! Loss Mitigation, our staff is quickly developing resources to help you understand the new Short Sale guidelines and explain them to your buyers and sellers.

Please let us know if we can be of service. Call 1-800-480-1917 with any questions or concerns.