As much as we hear that short sales can be difficult and they try your patience, they sure can be a huge help to a seller in need of $3,000 moving Assistance. Time after time we are getting seller's approved and we are having alot of good luck with the HAFA program.
The benefits of short sale versus foreclosure are obvious and well documented but some homeowners are still not fully aware of this. While it is true that a short sale will typically have a less negative impact on your credit than a foreclosure and they also can make the possibility of a deficiancy judgement from a second mortgage go away, it seems to be the $3,000 Relocation Assistance that sellers find most helpful.
The banks don't approve this for everyone and sometimes those that seem to deserve it may not qualify for it, but it does not take away from the fact that it is an awful lot of fun to deliver the good news when you get them approved and closed with the $3,000!
Make sure that you encourage sellers to look at all of their options and even though it may be a bit more work for you and your team, take the time to run them through the HAFA Program. It is worth it....for them.
Good luck out there,
Real Estate Broker, The Atlas Group
Medford Oregon, 541-944-9700
Short Sales, REOs, Foreclosure