Browning Real Estate School Presents: 6 Short Sales Misunderstandings:
By James A. Browning, MRE REOCertified(R) SSCertified
(Browning Real Estate School/REO Institute)
6 Common Short Sales Misunderstandings: Short sale transactions can be an excellent choice for homeowners who must sell and who owe more on their homes than their current values. Unfortunately, there are numerous misunderstandings regarding short sales, and it is extremely important to understand the proper procedures and best practices in this process should you choose this path for your homeowners/sellers. Misunderstanding # 1: THE LENDER/BANK WOULD RATHER FORECLOSE THAN CONSIDER A SHORT SALE TRANSACTION. This is likely the most common misunderstanding. In reality, banks DO NOT want to foreclosure on properties, as the foreclosure process is rather costly and lengthy. Banks, lenders, investors, and even the Federal Government have stated publicly if a homeowner is qualified for...
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