Mark E. Sumpter is a real estate investor and an expert in buying and selling pre-foreclosures.  He founded the Wealth College, Inc., which serves the real estate community by teaching wealth building strategies.  He specializes in the area of pre-foreclosures and short sales.  His company offers learning opportunities for real estate investors throughout the country through on-site seminars, coaching programs, teleseminars and interactive membership to his website, also through home study courses, audio CDs and DVD education materials.  Mark offers a series of 52 “Short Sale and Pre-Foreclosure Tips that will Make your Pockets FAT!” for free through his website.  Mark E. Sumpter is also known as the “Short Sale Expert”.

He was born in Los Angeles, California, attended Central Missouri State University where he received his degree in Criminal Justice and was a police officer for the Kansas City, Missouri Police Department.  In his first year of investing he acquired $496,000 in pre-foreclosures and used none of his own money.  Because of his proven methods Mark Sumpter is a highly sought after instructor for investors seeking to learn more about the short sales foreclosure market.  The real estate short sales system that Mark shares with investors is the same system he uses in his short sale foreclosure business every day.

Mark explains the foreclosure process as a series of steps that the federal and state laws have established for lenders to foreclose on a property.  They are that (1) the homeowner promises to pay the principal mortgage debt (2) the homeowner will insure the building against fire or damage to help protect the bank’s interest in the property (3) the building or dwelling cannot be demolished or removed with the consent of the bank (4) the entire principal will become due in the event of default of payment of principal, interest, taxes or assessments and (5) the bank will consent to the appointment of a receiver in the event of foreclosure.  The first three are homeowner agreements they must adhere to otherwise the bank must pursues steps 4 and 5 of the process. It is important to know that until a judgment has been obtained the homeowner is really under no threat of foreclosure.  After a judgment has been handed down against the homeowner, a time is set for the public sale of the property at auction.