Meeting October 8, 2009 – Speaker Jason Chmielewski – The Law Office of Jason M. Chmielewski
As the weather starts to change so has our focus in our education portion of the meeting. We finished our past topic and now have moved on to a new topic “Mastering the Mixer” We look forward to hearing Bill’s takes on this subject in the weeks to come. We have also renamed this section of the post from our Educational Nugget to Bill’s Briefs.
BILL’S BRIEFS
Well, to start the conversation off on Mastering the Mixer Bill states that the foundation for a prosperous business is based upon referral marketing. The Mixer or say After Hours is a great tool to use in building this foundation. The first thing you want to do and know is when attending a function like this to have all the necessary networking tools with you. The most important things to remember are:
1. Name Badge
A clearly written out name badge will let everyone in the room know who you are, the company you are with and most importantly your services. If your company name does not clearly state your product or services it is always a good idea to write those services on your badge.
2. Bring Plenty of Business Cards
This idea is pretty straight forward, but the thing to remember is to bring enough so that you can hand out multiple sot everyone you meet so that particular person would be able to hand your card out without having to give away their own personal copy of it.
3. Bring your folder/binder of business cards
Here we are speaking about your binder of BNI members cards. This works out great because as you speak to others you may find out they need the services on one your group’s members and if you have the binder with you, you can simply hand over one of their cards. This alleviates having to email someone information later that may be forgotten.
4. Follow Up
Probably the most important piece to remember is to follow up with the people that you meet.
TODAY’S SPEAKER
| Law Office of Jason M. Chmielewski Jason M. Chmielewski 2438 West Irving Park Road Chicago, Illinois 60618 Visit Website Email 773-489-6806 |
The Law Office of Jason M. Chmielewski provides the highest quality of legal services to businesses and individuals. The firm’s focus is primarily upon real estate, general business and corporate law, probate and estate planning.We provide outstanding customer service and are extremely responsive in handling all matters. The firm provides outstanding legal services in a cost effective manner. We treat our clients with respect and value personal and professional relationships. |
Today we heard from Jason Chmielewski of The Law Office of Jason M. Chmielewski. Jason is the attorney in our group and his main areas of practice are real estate transactions, estate and probate law, and general business and corporate law. Jason took time today to speak about the process of Short Sales.
A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.
In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank’s loss mitigation or workout department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower’s financial situation.
A short sale typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is predicated on the most economic way for the bank to recover the amount owed on the property. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure. A bank will typically determine the amount of equity (or lack thereof), by determining the probable selling price from a Broker Price Opinion BPO (also known as a Broker Opinion of Value (BOV)) or through a valuation of an appraisal. For the home owner, advantages include avoidance of a foreclosure on their credit history and partial control of the monetary deficiency. A short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.
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