Sacramento Short Sales and Bank Owned (REO)

Inreasingly we are hearing from lenders and have witnessed also that they are putting more of their efforts in to short sales rather than taking the property back. More employees are being shifted over to the loss mitigation department (aka short sale). The loan modification process has not been the success everyone was hoping for. Even in the few times there's a successful loan modification, more than half of the property owners will go back in to default.

This turn of events should benefit everyone. The seller is able to avoid foreclosure. They can put themselves in a position to buy another home in 2 years. The lender is able to keep it out of their foreclosure statistics and avoid being a property manager. It just makes the numbers look better all the way around - and the lender improve their reputation by helping the homeowner avoid foreclosure.

When a seller is considering a short sale, it is so important to find an agent that is experienced in short sales. This is not a time to call on Aunt Sally or your best friend who happens to do real estate on the side, or your neighbor who just got their real estate license. There is just too much at stake for that.