Short Sales in Brooklyn and Queens on the Rise!

We read everywhere that short sales are on the rise. We hear and read on trulia and active rain that mortgage lenders are more willing to work with homeowners looking to sell their homes and negotiating a short sale settlement. These are all true from what I am currently experiencing, however we cannot lose sight on how these short sales are being handled.

There are many competent short sale negotiators who will assist your Realtor or the homeowner work through the myriad of issues with short sales, however there are many unscrupulous ones as well.

When considering a Short Sale, interview the negotiator find out if they are licensed in Real Estate or if they are an Attorney. I know that at this point a loss mitigator need not be licensed so that leaves many of us not knowing what qualifications these negotiators have when we place our largest investment in their hands. I have seen many homes fall into foreclosure due to negligent negotiators.

It is not enough to have a great Realtor for your short sale you need a great loss mitigation negotiator.

KB Collins
Attorney / Broker
New York City