preforclosure sales: short sales
- 01/19/09 08:33 AM
I know that the big buzz word in our field has been preforclosure short sales....where you convince the home owner to list the property with you and then attempt to sell it for less than what is owed on it. My experience has been that the loss mitigation departments of the lending institution are so overwhelmed by the sheer volume of defaults and preforclosures that, they have little time to negotiate short sales and that they need time to evaluate the borrowers requests for a short sale. What are you, or have you been doing to decrease the lenders time to respond … (0 comments)
I know that the big buzz word in our field has been preforclosure short sales....where you convince the home owner to list the property with you and then attempt to sell it for less than what is owed on it. My experience has been that the loss mitigation departments of the lending institution are so overwhelmed by the sheer volume of defaults and preforclosures that, they have little time to negotiate short sales and that they need time to evaluate the borrowers requests for a short sale.
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