Before I get into the meat of this blog, let me first preface this by saying that I am not an attorney, do not practice law, and am not a member of a bar association. THEREFORE I CANNOT GIVE LEGAL ADVICE.
A short sale negotiation is actually a pretty simple concept, a homeowner needs to present a logical, and compelling case to a lender that a "short sale" will be financially beneficial to them, it's that simple. In my opinion, the bank really is not concerned as to WHY you want to short sale a home. A LENDER WANTS TO KNOW THAT BY SHORT SELLING THE HOME THE LENDER WILL AVOID FURTHUR LOSSES. Lenders are terrified right now. The same government that was asking them to LEND, LEND, LEND is now asking them to prevent foreclosure, prevent foreclosure, prevent foreclosure for the same people they were pressured to lend to?????? The banks are aware that NO ONE really knows exactly how many foreclosures are looming, but we all know that as home values decline the number of foreclosures increase.
Back to the negotiations, prepare a financial analysis showing the bank WHY they make MORE MONEY and you will be on your way to a successful short sale.
1111 Benfield Blvd., Ste. 250 Millersville, MD 21108
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