More Banks Prefer to do Short Sales. I was at a conference this weekend and there were a few asset managers there for various banks. Well, this conference was more about REO than it was Short Sales. So I will really surprised when the asset managers started talking about Short Sales.
I am located in Charlotte North Carolina and like anywhere else; there are several Short Sales in Charlotte. A local attorney in Charlotte also said that he has seen a huge increase in Short Sales in Charlotte. There seems to be a trend of more banks wanting to do Short Sales instead of Foreclosure. I have been doing Short Sales since 2005 when I used to call them Pre-Foreclosures. Back then nobody hardly knew what I was talking about. Some people call me a Short Sale Specialist in Charlotte but I just help people in bad situations. You can call me a Short Sale Specialist if you like. HUD has had their Pre Foreclosure program out for a while and they usually can be done pretty easily.
Well anyway the asset manager from the bank came out and said that they are doing more Short Sales. They will call them cooperative sales. I know Bank of America has a program called a cooperative Short Sale. I tried to submit a cooperative Short Sale a few weeks ago but my clients investor did not participate in the program. With the cooperative Short Sale, the asset manager said they are sometimes contacting the homeowner to initiate the Short Sale. That is a pleasant change. I will not be surprised to see more banks following that model. It is so much better when the bank reaches out to the homeowner. It makes it easier for me to Help People With Their Short Sale In Charlotte.
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