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RISMEDIA, October 27, 2009—Long & Foster Real Estate, Inc./Platinum Group Services announced the creation of a unique program, developed to assist clients and real estate associates with short sales transactions. As part of Long & Foster’s ongoing response to the changing market and needs of buyers, sellers, and sales associates, Long & Foster has joined forces with Platinum Group Services to facilitate efficient short sales. “As real estate professionals know, short sales can be very complicated,” states Jeffrey S. Detwiler president and chief operating officer of The Long & Foster Companies. “We listened to our customers and our sales associates and partnered with a team of top experts to best meet the needs of today’s market conditions. This program takes a complex scenario and makes it virtually turn-key for our sales associates and their clients.”

“Because of economic conditions, the number of short sales are rapidly growing,” explains Tim Wilson, president of affiliated businesses for The Long & Foster Companies, Inc. which is the parent company of Long & Foster Real Estate, Inc., Prosperity Mortgage Company, Long & Foster Settlement Services, and Long & Foster Insurance Agency, Inc. “This program, offered exclusively through Long & Foster, streamlines a process that, up until now, has been difficult to navigate. It opens up the short sale market to more of our sales associates, provides clients with an experienced team, and helps the lenders recover some of their assets. This can be a win-win situation for all concerned–sellers, purchasers, lenders and our sales associates.”

According to the company, once a sales contract is submitted on a property enrolled in this program, Platinum Group Services is able to get involved. The group has the knowledge and lender contacts to efficiently process packages and requirements, which vary by lender. The service is paid for from proceeds of the sale. The principals of the group have more than 20 years of experience in the financial services and mortgage lending industries. Their services include educating the real estate agent and seller on the complete short sale process, providing a realistic timeframe of what the customer can expect, working with the seller to compile the package, working with their attorney network and coordinating with the title company. They’re basically involved in every step of the short sale transaction.

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