September 2013 | Volume 6 - Number 7
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Update from the ATG Short Sale Coordination Department
A Key Step in the Short Sale Process:
Early Viability Assessment
If a homeowner's mortgage is underwater and the homeowner must sell the property due to a financial or other demonstrable hardship, a short sale can be a viable alternative to foreclosure. However, the short sale process is long and complicated, and it can be difficult to predict whether a short sale will be approved.
How do you help your client decide whether a short sale is the best option?
Read our article, A Key Step in the Short Sale Process: Early Viability Assessment, for guidelines you can use to help your clients assess the viability of the short sale early in the process and determine if a short sale is the best way to move forward in resolving their distressed property.
ATG and ATG Trust Agents: Let our experienced Short Sale Coordination professionals take care of the administrative tasks involved in obtaining short sale approvals for you so you can focus on doing what you do best — representing your client. Learn more about the services we provide.
Karen G. Courtney
ATG Managing Attorney, Short Sale Coordination
EDITOR'S NOTE: In the event that this communication is disseminated to the consumer in connection with ATG's Short Sale Coordination Services, the consumer is hereby provided with the following disclosures in compliance with the Mortgage Assistance Relief Services Rule (16 C.F.R. Part 322) promulgated by the Federal Trade Commission:
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ATG MEMBERS | Underwriters' Bulletin
Claims Corner
Using a Power of Attorney to Sign an Indemnification
Title Tips
Review Your Commitment Early and Order Hold Harmless Letters Right Away
Procedural Updates
ATTN CHICAGO-AREA ATG AGENTS: Comprehensive Endorsement 1 Retired in Favor of ALTA 9.3 Endorsement
ATTORNEYS | Practice Notes
Legislative Update
Illinois
Fraud; Transfer of Title: Public Act 98-0099 (IL) — The Act combats fraudulent filings, including title to property transfered by recording false or altered documents and deeds.
Casenotes
Illinois
Deeds: Dep't of Natural Res v Waide — Reformation of a warranty deed is possible upon the finding of a mutual mistake.
Wisconsin
Co-Tenancy: Marchel v Estate of Marchel — The common law requirement that a grantor cannot also be a grantee in a deed creating joint tenancy is no longer the law in Wisconsin.
IN THE NEWS | ATG Donation Saves Work to Play Program, Levine Institute Registration Open
ATG Supports Urban Initiatives for Kids — ATG, a long-time supporter of Urban Initiatives, recently had the opportunity to make a "clutch" donation that allowed the organizatin to continue its Work to Play program.
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Registration Now Open for the 2013
This year, ATG's most popular legal education series presents Welcome to the New World: ALTA Best Practices and the CFPB. Learn about changes coming from the American Land Title Association and the Consumer Financial Protection Bureau and how they will affect your real estate practice.
WHAT'S NEW | Trust, CLE, Process, and Auction Services
Exchange Tax Dollars for Investment Dollars: Offer Starker Exchange Services to Your Clients — ATG Trust Company can show you how to help your clients defer paying taxes on the gains earned from investment property and increase their wealth using tax-deferred dollars. Read more...
NOT A MEMBER YET? Learn about the benefits to you and your clients.
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◻ 10-9-13 | Wisconsin Underwriting Forum, Part 3 (webcast)
◻ 10-18-13 | Real Estate and Mortgage Issues for Lender's Counsel (webcast)
◻ 11-7-13 | 2013 Harold I. Levine Real Estate Institute - Welcome to the New World: ALTA Best Practices and the CFPB (Chicago, Illinois)
Watch your e-mail and our website, we'll be posting more Fall-Winter programs soon.
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FAST AND FLEXIBLE: The Process Server Responsive to Your Needs — Get the finest process serving available to lawyers today. Learn what the LegalServe Difference can make in your practice and place your order today!
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Auctions by ATG – Your Commercial and Residential Property Auction Resource — Auctions by ATG provides professional and effective live and online real estate auction services. Sellers and buyers of all types of commercial and residential property benefit from our totally transparent auction process, superior online bidding service, and attractive pricing model. Our extensive targeted marketing often leads to pre-auction sales that close in 30 days or less.
Join Our Email List to receive Auction Property of the Week notices and updates on our auctions.
Visit our new website at www.auctionsbyatg.com for more details. If you have questions, contact Operations Manager Mary Fran Gill, 312.752.1160.
[Last update: 9-25-13]
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