User
Write something
Pinned
What is a Short Sale?
In Real Estate Finance, a Short Sale is a process wherein a lender will settle for a payoff that is less than the actual amount the borrowers owe. Hence the term "Short" Sale. I did my first short sale in 1995. They are quite tricky and stressful. During hard times - like the ones coming, when home values drop below the amount owed, a short sale may be the only option. During the great financial crisis of 2008-2011, tens of thousand of short sales took place. And believe you me, the lenders acted as if everyone involved was trying to take food out of their baby's mouth. Well, Short Sales are back and folks... it's time to party!
0
0
How to Do a Short Sale?
In the coming months, as we start to do short sales again, we will be documenting the process so that you may learn how to do one yourself. The are a few different types of short sales, and a few different people who need to do them. And... a few different lenders whom will be asked to do them. But one thing that will forever remain constant is the way a lender treats all parties involved. They make it as hard as possible, maintain an appearance of incompetence which is breathtaking, and ultimately will come to the table (usually) with a counter offer. It is our job to navigate these treacherous waters to the ultimate destination of settlement. Many homeowners have a hard time watching this "sausage making" process. But... that's why the Short Sale Group is here. We get it done!
0
0
1-2 of 2
powered by
Short Sale Group
skool.com/short-sale-group-9490
Distressed Real Estate Finance Specialists
Build your own community
Bring people together around your passion and get paid.
Powered by