FORECLOSURE SPECIALIST

What is a foreclosure specialist.  When it comes to short sales a foreclosure specialist is someone who can take charge of your foreclosure negotiations.  These specialist are charged with loan modifications, short sales and a variety of other areas that stay a foreclosure, slows a foreclosure or completely stops a foreclosure.  Foreclosure specialist is a term used loosely these days since everyone seems to be a foreclosure specialist.  When the term is used by a lending institution it generally means someone charged with streamlining the foreclosure process with respect to the lender.  These foreclosure specialist are not working for you although they say they may be working with you.  Their loyalty is to their employer and you should never forget that.  A foreclosure specialist sometimes is used when speaking of a short sale negotiator. 

One must remember when dealing with the different parties in a foreclosure such as the lender, the servicer and their respective representative, that these people have no duty to you and you should keep that in mind when dealing with them.  When you are in doubt speak to an Attorney.  An Attorney representing you has a duty to you and will advise you accordingly.

Foreclosure specialist prevent foreclosures, such as modification companies can help you throughout the foreclosure process.  Just as with working with any business, be sure to keep in mind who is actually working with you and working for you.  Always ask questions of these companies, ask about fees and how much they will charge you if you allow them to work on your modification or settlement.  Also short sale negotiators should be carefully scrutinized.  If your short sale negotiator is not an Attorney ask them if they are licensed, ask for their past success and find out if they will be the one representing you in the negotiations.  When dealing with a Foreclosure specialist you need to stay informed and ask questions.