short sales: Short sales....the real story
- 04/28/08 12:42 PM
You have a client who bought a house with less than 5% down a couple of years ago and now they need to sell. It may be very likely that they now owe more on the property than it is worth in today's market. "No problem" you say "We'll just look to do a short sale." Hold on! You may be missing the essential elements that will qualify your client as a candidate for a short sale. It is not enough just to be "upside down" on a property, you must also qualify as a hardship. If you owe more on a property … (2 comments)
You have a client who bought a house with less than 5% down a couple of years ago and now they need to sell. It may be very likely that they now owe more on the property than it is worth in today's market. "No problem" you say "We'll just look to do a short sale." ;)
;)
