INDUSTRY VETERAN SHARES CREATIVE SOLUTIONS TO TACKLING REAL ESTATE DRAMA WITH ONLINE COURSES

“Short sales happen if the sum of the debt owned on a home exceeds the property value, or the amount the home can be sold for, the property is considered over encumbered, more commonly known as being “under-water,” Washington explained. “For example, when you add up all the debt against a home, including first mortgage and second mortgages, homeowner’s association dues, property taxes, (if not escrowed), home equity lines of credit (HELOC), and if you’re in a state that allows for personal judgments and liens against your name, that debt is also included,” he said.

“The fact is there are thousands of homeowners applying for loan modification programs and forbearance agreements, where the back payments are attached to the loan balance. This causes the balance of someone’s loan to exceed the home’s value, and adds to the short sale wave. This is a frequent occurrence and Covid-19 is not the first time a world-wide event resulted in over-priced properties and a flood of short sales,” shared Washington. As a licensed real estate professional working in the industry since 1988, helping to resolve all types of complicated matters, Washington developed programs and systems to address and provide solutions for just about every real estate related issue imaginable.

“For example, one of my clients purchased his home at a foreclosure auction for non-payments of Home Owner Association (HOA) dues. The opening bid was $5,000, bidding against other bids, he won the highest bid at $30,000. He took possession of the home and thought that he just purchased a $300,000 home for only $30,000,” explained Washington. “He was thrilled until he received a foreclosure notice from the first lien holder, which had a balance due in the amount of $278,000. In addition, the home had many small repairs he couldn’t afford because he spent all of his money purchasing the home, which still had a mortgage in the previous owner’s name. I was hired to help him and got the foreclosure sale cancelled instantly and sold the home,” he said. “As a result, my client was able to not only walk away with a chunk of money, using techniques from my relocation program, he and his family were able to move into a home they could actually afford. Additionally, I relisted and sold the property for the new owner after making the necessary repairs to a first-time home buyer. We also assisted with the new first time buyer’s closing costs, saving them money. In this transaction, the seller made record profit in 30 days,” Washington said.

Washington says transforming homeowners’ nightmares into their dreams, and real estate dreams into reality, is what his company, Kiplan Realty Group, LLC., does. In an effort to assist as many people as possible to realize their real estate dreams, Washington’s company offers a variety of comprehensive online courses and coaching.

These courses including (Mastering the Short Sale Game; A Divorce and Real Estate; NextGen Loan Modification; NextGen Home Buyers Master Program and Building Wealth in Real Estate with David), are designed for real estate investors looking for below market value homes. They are also for potential home buyers with credit challenges and unable to qualify for bank financing; homeowners struggling to make mortgage payments and any other type of real estate drama that exists. “I want both aspiring and established homeowners, as well as investors to take heart and know that even in this challenging real estate environment, there are creative, effective and potentially lucrative solutions to whatever real estate drama people may be experiencing—solutions which are available to those open to the possibilities and who are willing to learn what to do,” Washington said.