The Trusted Adviser

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

Karen G. Courtney photoIf 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:

  1. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us an amount equal to one percent (1%) of the purchase price, or a minimum of $2,000.00, whichever is greater, for our services.
  2. ATG is not associated with the government, and our service is not approved by the government or your lender.
  3. Even if you accept this offer and use our service, your lender may not agree to change your loan.
  4. If you stop paying your mortgage, you could lose your home and damage your credit rating.

ATG MEMBERS | Underwriters' Bulletin

This content is for members only. Consider joining — see Membership Benefits

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

Issue the ALTA Short Form Residential Loan Policy to Improve Timeliness and Ensure Compliance with Best Practice #5

ATTN CHICAGO-AREA ATG AGENTS: Comprehensive Endorsement 1 Retired in Favor of ALTA 9.3 Endorsement

ATTORNEYS | Practice Notes

Legislative Update

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.


Deeds: Dep't of Natural Res v Waide — Reformation of a warranty deed is possible upon the finding of a mutual mistake.

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

ATG Harold I. Levine Real Estate Institute, our premier legal education event of the year
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

ATG Trust Company logoExchange 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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ATG Legal Education logoFall Seminars - Register Now!

◻ 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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ATG LegalServe logoFAST 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 logoAuctions 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 for more details. If you have questions, contact Operations Manager Mary Fran Gill, 312.752.1160.

[Last update: 9-25-13]