We are accepting short sale files from Realtors® for our experienced team of short sale negotiators to work on your behalf within the licensing structure advanced by the Georgia Department of Banking and Finance.
There are no upfront or subscription fees to sellers or listing agents.
Listing agents interested in engaging Tower Mortgage Short Sale may:
call us at 404-321-3033
email us at firstname.lastname@example.org
check out FAQs on this website for ongoing updates and additional information
Our office hours are Monday – Thursday 9am to 5pm (Eastern), and Friday 9am to 2pm.
Once engaged, updates will be available on this website through our 24/7 password protected automated system and through outgoing emails directly from your negotiators.
We have the licensure to undertake short sale negotiations for you in the proper structure while at the same time deliver to you best in class, top notch short sale negotiators with extensive experience supporting and working with Realors®.
REGULATORY BACKGROUND FOR REALTORS®:
In May of 2011, the Georgia Department of Banking and Finance issued Cease and Desist Letters to two real estate agent sponsored short sale services, asserting the real estate agents were engaged in residential mortgage brokering activities, without a license, and without cover of an applicable exemption in violation of O.C.G.A. § 7-1-1002.
Pursuant to Georgia law it is prohibited for any person to directly or indirectly solicit, process, place, or negotiate mortgage loans for others, or offer to solicit, process, place, or negotiate mortgage loans for others, without a mortgage license, or pursuant to an exemption from licensure. According to the Department of Banking and Finance, this includes negotiating short sales.
As such, our understanding is that neither real estate agents or brokers may negotiate short sales in Georgia, and the only parties who according to the Georgia Department of Banking and Finance can negotiate short sales without violating Georgia State Law is a Georgia Mortgage licensee such as Tower Mortgage Corp.