Short Sales

Does anyone have any success stories working with short sales? I have been doing some loss mitigation work for homeowners who are on the verge of losing their homes to foreclosure. I have one client who just signed a lease for a property that I have for sale or for lease. After asking her a few questions, I found out that the home that she is living in is scheduled for foreclosure in Feb.2008. She stated that her deceased husband has borrowed against the house and now her and her children are moving out without a fight. I am advising her to call her lender and try to work something out or at least ask for a short sale. I would love to see her make some money on the home.

I am amazed at the many homeowners that will just walk away from their homes and say goodbye to their equity. It is my goal to get this homeowner back in my offer and the lender on the phone to stop the foreclosure process.