courtsIn January of 2014, Florida passed a law that allowed the Banks to push their foreclosures through the court system faster than the normal 879 days that it used to take. I have seen foreclosures go through the court as quickly as 4 to 5 months because the Sellers, even though they do not have an attorney, do not take the time to file an “Answer” when they are served with the Summons and Complaint. An Answer, in which they themselves can file, simply states that they would like this matter set for trial. This letter includes the caption of the court pleading and their address and telephone number. They would have to file this Answer with the Court along with a Proof of Service that they mailed a copy to the Attorney representing the Plaintiff (Bank). Once an Answer is filed, the Court must slow down the Foreclosure proceedings to allow enough time for the proper hearings that are entitled to the Sellers.


I used to advise my students to wait to send marketing letters to Sellers who were in Foreclosure for at least 6 months. Times have changed! I am now recommending, due to this new law, that the marketing starts as soon as the Notice of Lis Pendens (a document letting the public know that the Sellers are in Foreclosure) is served to the Seller. Many Sellers are running scared. They are moving out before they even have time to fight the fight. I say “Don’t Run and Don’t Let the Bank Win” and do a short sale. Even if you are doing a Loan Modification and/or Short Sale, the Bank is still pushing through the Courts to get a foreclosure hearing date set. However, a short sale takes control of the Sellers destiny.


In addition to the new law that allows the Banks to go faster through the Court, it also allows them to get a deficiency judgment (amount that is owed, plus court costs and attorney fees) at the time of the final hearing while still owning the Asset (the house). How disappointing is our legal system that they allow the Banks to do this, as they do not even know how much the Sellers will owe until the bank sells the Asset! The Banks are then selling the Deficiency Judgments for pennies on the dollar and going after Sellers. Don’t let the Sellers get garnished when the Banks don’t even have a final number!


I am here to tell Realtors and Investors to start moving in on the Sellers now when they need you the most. Many of the Sellers do not know their rights and are sick (many of them physically), tired, highly stressed, broke and just downright scared. Tell the Sellers their rights and help them do a Short Sale. When there is a short sale pending, most often we are able to get the Bank to postpone the sale date as long as they Motion the Court at least 15 days prior to the hearing date. I say it again, “Don’t Let the Bank Win!!!” Help the Sellers out at the same time you are helping our economy and ourselves.


If you work with a Realtor and you are an Investor, you can tell the Sellers that you have the best of both worlds. First, you already have a Realtor which the banks ‘think’ they need to have involved. Unfortunately, many Realtors don’t even know how to negotiate a short sale or the many liens that are now popping up. And second, YOU are a buyer. The price doesn’t matter because it is up to the short sale lender to send out someone to get a broker price opinion (BPO) or an appraiser to counter the buyer and sometimes the bank will give their acceptable short sale listing price in which the Realtor must comply.


If you lost everything in real estate, then it is time to get back into it, as real estate is forgiving. There are very few houses on the market, which gives us a Seller’s market; however, when you work with the Seller from the beginning, you are able to make a deal when no one else can get a deal accepted.


Stay tuned for more updates on short sales and remember…. a large number of your short sales can become a subject-to, lease option, lease or even a straight purchase. Please don’t assume there is no deal because you don’t want to do a short sale. You will be pleasantly surprised to learn how you can create multiple exit strategies from a short sale deal! I am doing it every day and so are my students……turning short sales into profit! I just had a student close a deal that was a short sale. We negotiated it, flipped it, and never lifted a finger! The student walked away with $7,591.53 in his pocket. It works!


Please keep sending me your questions and topics that you would like to hear about, so I can be sure to keep feeding you with the information that you need in order to move ahead in your real estate dreams!


Happy Negotiating!


Kimberlee Frank

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Kimberlee Frank Broker Short Sale Expert


Kimberlee Frank Real Estate Broker and Teacher/MentorKimberlee Frank is known as “The Real Estate Junkie,” for her unique ability to find ways to creatively help buyers and sellers no matter which direction the real estate market is heading. Kimberlee had already worked as a legal administrator for an Attorney, Builder and Broker for 18 years when she began her Real Estate career in 1998. She dotted the i’s and crossed the t’s on hundreds of real estate transactions and thousands of documents, making her an expert in real estate documentation. Kimberlee’s success began in Fenton, Michigan. She specialized in selling, purchasing, renovating, retailing and lease optioning single-family homes. She has helped many sellers get rid of their “headaches” and helped many buyers find their dream homes!


Since 2003, she has specialized in foreclosures and short sales. After realizing how many families were being forced out of their homes due to financial difficulties, Kimberlee had a heartfelt obligation to use her experience to help those families. She has mitigated and closed over 500 short sales with the mortgage companies, saving Sellers from going into foreclosure. In 2006, Kimberlee and her family moved to Florida. She lives in Oviedo and her Sell Fast Realty Office is in Winter Springs, serving residential and commercial sellers and buyers in multiple counties in Central and Southern Florida.

Kimberlee is also a Trainer and Mentor and has created several different “How To” systems on real estate. Her unique strategies continue to educate real estate professionals across the country. If you have a proven system to help others out of hardship, why wouldn’t you duplicate it and share it with as many people as you can? Kimberlee continues to work with this philosophy!

Kimberlee Frank Author of Big Ideas for Your Business
Kimberlee Frank has been featured on ABC, NBC, FOX, CBS as well as Wall Street Journal, Newsweek, USA Today and numerous other publications. She is the bestselling author of “Big Ideas for Your Business” (Advantage Media 2009). She was also selected as the #1 Short Sale Expert by America’s Premiers Experts.

Please contact Kimberlee at her office at 407-888-3433 to schedule a Free Facts About Foreclosure Seminar. She has numerous testimonials from sellers, buyers and other real estate professionals who are familiar with her giving heart. Whether it is 1 person in need or 1,000…..Kimberlee will educate them on real estate and give them a solution with a peace of mind!

Kimberlee Frank saught out by the media


Are you unsure what to do with your house? Do you need to educate yourself about your options. Click the following link Free Facts About Foreclosure for more information.


God Bless,

Kimberlee Frank


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