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7 Most Dangerous Short Sale Myths

There are millions of homeowners just like you who are looking for answers and don't know what to do. You're not alone and you're in the right place.

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Despite my best efforts, there's still an overwhelming amount of misinformation about the options available, especially short sales.

To give you a better idea of the short sale option, and to set straight some of the myths you may have heard, I've prepared a free report just for you - please fill out the information below to receive your free report. This report will clarify the following myths:

The Bank Would Rather Foreclose Than Bother With A Short Sale
You Must Be Behind On Your Mortgage To Negotiate A Short Sale
There Is Not Enough Time To Negotiate A Short Sale Before My Foreclosure
Listing My Home As A Short Sale Is An Embarrassment
Short Sales Are Impossible And Never Get Approved
Banks Are Waiting On A Bailout And Not Accepting Short Sales
Buyers Are Not Interested In Short Sale Properties

These ideas are potentially harmful to homeowners seeking real solutions. I hope you'll review this information for yourself or share it with a homeowner in need.

In these times, we all need to know the truth to know how to get back on track.

If you have any additional concerns about this issue, or your circumstances are urgent, please give me a call.

Michelle Burgos, CDPE®
954-343-3104

www.FLAvoidForeclosure.com

Posted by Michelle Burgos, CDPE~Short Sale Expert Miramar,Pembroke Pines,Broward REALTOR® on 11/07/2009 12:08 AM

Comments (9)

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9 Comments on 7 Most Dangerous Short Sale Myths

NOV

Well I agree they are harmfull if used and the truth is what we know based on facts.

Hi Michelle,

Thank you for sharing an informative and helpful information.

John Pusa

I'm a CDPE in Silicon Valley. How is the short sale market in FL?

Michelle--Some of your ideas ARE in fact happening so I would be cautious to declare them as myths. My area is rampant with the worse of it all in Florida and I can tell you, some of these problems are real.

We'd all better get used to dealing with short sales as I don't see them going away any time soon. I currently have several short sale listings; and have one I've been negotiating with the bank now for 8 months. Definitely seems to me there should be a way to make the process faster.

Great post. I agree that these are generally myths. However, I have had deals fail to go through because the potential short-seller was not behind on payments. But, generally this is not a problem.

Christopher J. Horlacher, Esq.

I agree with Kathy, I think short sales, like it or not are going to be a bigger piece of all ours sales pie in the future. The process is definately a mess and needs to be overhauled, but for now we are stuck with it as is.

NOV

Thank you all for you valuable comments.

I do agree that there have been many home owners that have been turned down because they were current on their mortgages. However, I have found that was happening most often in the beginning when the lenders were less willing to cooperate with the homeowners.

Today, however, I have been pleasantly surprised to see lenders welcome homeowners that are willing to do what ever they can to keep their mortgage payments current. As a result, I have found more and more lenders approving short sales even when the homeowners are not delinquent.

It is unfair to the homeowners that have taken care of their credit diligently and have been victims of unforeseen circumstances to be forced to default on their mortgage to be considered for a short sale. As the homeowner's advocate, I am certain to stipulate this in my cover letter when submitting my short sale packages to the lenders.

Continue to help others... it will come back to you tenfold!

NOV

Michelle: I like to describe the market in South Florida as "Unbelievable!"

It is an unbelievable Time to Buy.
An Unbelievable infiltrated market with Short Sales & REO's.
It is an unbelievable amount of inventory on the market.
It is unbelievable to see ho many homeowner's are losing their homes to foreclosure (mostly due to not knowing there are alternatives to Foreclosure. Foreclosure is NOT the only way out).
On the flip side, it is unbelievable how many homeowners we have been able to help Avoid Foreclosure even when the sale date has been as close as a week away.
It is unbelievable what an knowledgeable professional can do to give a homeowner a second chance at life.
It is unbelievable how Forever Grateful & Loyal your seller's are after you have helped them Foreclosure!

It is simply "UNBELIEVABLE!"

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