Trent Chapman Chats About Escalation
Short Sale Power Hour is delighted to welcome Trent Chapman, Short Sale Genius, back to the episode. Trent has spent plenty of time educating agents how to escalate. He offers a form letter on his website, theshortsalegenius.com, to give people an exemplar of how to communicate the escalation message to the lender. In essence, it gives a universal script as to how you can explain that the short sale is better than foreclosure.
Unfortunately, because too many people have just copied and pasted the manuscript, Matt Vernon may have a problem with it. For those that don't know, Matt Vernon is a major player at Bank of America. So, Trent will be getting in touch with Matt Vernon to talk about the escalation letter.
The idea behind the letter is that Trent needs to assist agents in knowing how to escalate. When you are addressing somebody that is higher up in the lender, you want to make the story as short as possible. We suggest that you tell them the following. This is the home. It has been on the market for 'x' days. We have a bid. It's full market value. Here is the fair market value based on these comps. Then you give them the facts. With a short sale, you will get this much funds and if this forecloses, you will get this much funds. That is the essence of the email.
If you have questions, get your Short Sale questions answered by Short Sale Specialists.
Watch this and more short sale videos by Kevin and Fred at Short Sale Power Hour
Also, follow Group 46:10 on their blog at Pre Foreclosure - Foreclosure Short Sale Phoenix
For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.


Fred Weaver is a founding co-owner of Group 46:10. He has been working in the financing/real estate business for over 7 years. Fred began his real estate career by working for a large wholesale bank as a processor and rate/lock specialist for home mortgages. After 2 years in the business, Fred transferred from the banking side of home loans to the mortgage side. While on the mortgage side of financing, Fred gained experience originating mortgages and processing files for Morgan Capital of Arizona, Inc.
Kevin is a founding co-owner of Group 46:10. He began working in the real estate business in 2007 after spending 8 years working in the finance industry for companies such as Bank One, Green Tree Financial, & GE Capital.