This week’s Preforeclosure “Tip of the Week” from PreforeclosureDailyGrind.com’s Bob Lachance and Chris “The Drummer” Bowes discuss the latest changes from Wachovia and First Franklin and in particular what they both will allow a 2nd mortgage to “Net” when they take a discount (short sale). This video covers how much they will typically allow a 2nd mortgage and how to talk with each departments short sale/loss mitigators. Visit www.PreForeclosureDailyGrind.com for more videos or to ask questions visit www.AskBobLachance.com. Please leave your comments and questions so we can address them on future videos!

This week’s PreForeclosure Daily Grind video will give you the inside scoop on how Chase, when they are the 1st mortgage holder, recently changed how they do their valuations. This video will explain why this recent change will allow every short sale specialist the ability to successfully negotiate better deals and steeper discounts when working will Chase.  Chase is not the only Lender who has changed the way they value a property! Listen in as we explain.

Also,  keep up to date with every change with every lender by becoming a www.ManageMyShortSale.com member!

We are doing a video documentary series on an actual short sale from the start of the short sale process all the way to the end. We are starting this video series (part #1) with the seller already on board and ready to sell their property. As you will see in this 1st video, we are using a student’s property as an example because one of the agreements we made with him is that we would video tape each step of the process and what we do and how we do it for his staff of loss mitigators!

In this video, we focus on how our company starts the short sale process; after we receive the homeowner’s “Authorization to Release Information” (*which will allow us to speak with the foreclosing lender on their behalf).

I will narrate this video and will be talking to Chris (our top loss mitigator) about the actual process that we go through in our office. Chris will show you how we fill out our fax cover sheet, what we put on the fax cover sheet, where to find the correct phone number to start the process and how to find the correct fax number for the correct department that is handling our short sale.  This will be an unedited video documentary so that any real estate investor (whether it is a wholesaler, rehabber, or a short sale specialist) will have the confidence to pick up the phone and get the short sale side of your business up and running.  After you finish watching this video, feel free to leave a comment on this blog. Also, if you want to ask any question on the pre-foreclosure business visit www.AskBobLachance.com and stay tuned for our follow up video on this Short Sale Documentary!