Thursday, January 13, 2011

Introducing "Short Trac" Short Sale Coordination Program

In conjunction with Title Resource Group, our parent company, we are proud to offer Short Trac Short Sale Coordination Program! What is Short Trac? The Short Trac Short Sale Coordination Program is designed to help the seller coordinate and facilitate communications between the listing agent, the lender and the title company through the short sale process. This Program is offered in an effort to assist your clients through what can be a difficult process. What are the folks at Short Trac responsible for?

  1. The process of coordinating the short sale transaction;

  2. Reviewing the completed short sale packet;

  3. Delivering the seller’s authorization to the short sale lender;

  4. Reviewing all preliminary HUD-1s before being sent to short sale lender;

  5. Submitting the short sale packet to short sale lender (if there are multiple lenders, we will pursue the additional lenders);

  6. Delivering a minimum of weekly file status updates to the listing agent and seller;

  7. Forwarding all approval letters to the listing agent; and

  8. Forwarding the approval letters to local title agency branch to complete the closing.
Please note: Short Trac will not negotiate or attempt to negotiate a reduction in the loan amount in connection with the short sale.

What's the cost?

In addition to the normal title and closing fees charged by the title company, the seller will pay Short Trac a fee of $800.00 at closing. If closing does not occur, no fee will be due.

Want to learn more?

Contact your Title Service Rep or contact Short Trac directly at: | (888) 485-3432 | (303) 876-1311 (fax)

IMPORTANT NOTICE: Short Trac is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.