About This Event
Realtor Drop-In Q&A — Foreclosure Solutions & Compliant Commission (Chicago • Oct 24 • 12–2 PM)
When a listing turns distressed, speed and clarity decide whether you close—or watch the file spiral toward sale. This open-door Q&A is a working session for Chicagoland realtors who want straight, practical answers on loan mods, short sales, deed in lieu, when to list, and how to protect your commission without stepping outside compliance. No slideshow. No fluff. Bring scenarios; leave with a plan.
- Who Should Attend
- Licensed real estate brokers/ageManaging brokers and listing agents with at-risk inventory.nts in Illinois
- Buyer agents navigating seller distress and lender approval hurdles.
- Newer brokers building a repeatable, compliant workflow for NOD/REO-adjacent deals.
- What You’ll Learn
- A decision tree for mod vs. short sale vs. deed in lieu.
- A commission-protection checklist (engagement, disclosures, approvals, HUD/CD match).
- A plain-English foreclosure clock you can explain to clients.
- A short list of do’s and don’ts that keep your deals clean and your license safe.
Sharp in law. Connected in your deal.
Private money lending counsel—structured fast, documented right, and closed with clean title
What We’ll Tackle (live, candid, actionable)
1) Choosing the right path—mod vs. short sale vs. deed in lieu
How to triage fast (income, hardship, equity, investor guidelines).
“Mod math” vs. short-sale net sheets—what a servicer will actually accept.
Deed-in-lieu pros/cons: deficiency language, move-out money, and title issues.
2) Commission protection that survives scrutiny
The four-document paper trail: engagement terms, agency disclosures, short-sale addenda, and communication log.
Getting paid on short sales: approval letters, HUD/CD alignment, and who can be paid for what.
Avoiding UPL (unauthorized practice of law) while still moving the file.
3) Working the foreclosure timeline
What can still be done after judgment is entered.
How to time: listing activation, offer submission, and last-minute adjournments.
Sale/confirmation realities: when it’s too late—and how to verify.
4) Red flags & deal killers
“Negotiators” who ask to be paid off-HUD, falsified hardship letters, and repair credits that mask cash-back.
Servicer missteps you can spot (and escalate) from the file history.
Title obstacles unique to distressed deals: HOA liens, municipal fines, junior judgments.
