We were on a pre-listing appointment at a beautiful home....the Seller was self employed and his business was on the verge of no longer being "in" business.....and he had heard about short sales but wanted some clarification on a number of points....the list of things he had been told and beliefs he had as a result that were incorrect would be tooo long to share in this blog.
I asked him if he had read these things on the internet, heard them from friends or just where this information came from because none of it was correct in our experience...."My real estate attorney AND bankruptcy attorney told me......" Oh yicks....! In Wisconsin, unlike some other states, the participation of an attorney is not required in a real estate transaction. Not sure if the lack of direct experience means that they too get their "Education" from the internet....or just what the problem is ...
If you are drowning in mortgage debt...unable to pay your mortgage consult a short sale specialist....and demand that you see their track record of closed transactions. (We have had "specialists" in our area who have done one or two and "know" all about the slippery slopes that may be encountered....) Call the Hansons...No matter WHERE you are in the country....if you are not in Wisconsin, we will find you a reputable agent who can find the best possible solution and answer your questions about the short sale process and any other alternatives your particular situation may include.
Callling an attorney is not always the first/best/last line of offense/defense....talking to someone who works in the "trenches" of short sales every day should be the first call you make.
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