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Short Sale

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Uploaded by on Feb 3, 2007

The downturn of the housing market is leaving some homeowners trying to sell homes that aren't worth what they owe the bank. In some cases their lenders will let them off the hook. KRON4's Maureen Kelly explains how short sales work.

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News & Politics

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  • Good Info

  • Nice video. It was helpful, I was able to learn a few important things from this video. I am new to Youtube, can you please check out our most recent video and give me your honest opinion?

  • Not a good time to own a home in S.W.Florida either ! I'd be a future renter , if I would be able to get a J O B in the short future ! If there were any high cliffs down here : I'd jump off one !

  • The banks don't require your loss mitigator to be certified. They don't even require them to be competent. However, I'd advise you to screen your loss mitigator carefully. All of the legitimate loss mitigators get paid by the bank and shouldn't cost you a cent. So be picky. Interview. Heck, at my company (OptionNext), we encourage you to ask for the resume of the loss mitigator that will be assigned to you. Of course our loss mitigators have law degrees or a min. of 5 years experience...

  • True, lenders don't like a short sale, but hate foreclosure even more. Sometimes they have to pay the exiting homeowner to not trash the property on their way out. Also, is it true more banks are requiring agents to be short sale certified?

  • The bigger the buyer, the more the bank takes notice. Best if you have HUGE credit references first. You can borrow $50k to $5 million with not even a credit check, if you agree to hold the funds on deposit (in your name) as security for the loan. This doesn't provide you with cash, but it lets you build AAA credit while you hold Rockafeller deposits, until you give back the funds to pay off. creditloader dot com does it all for 4.9% apr.

  • banks need to wake up and realize most buyers will not wait 2 to 3 months for an answer

  • ForeclosureHelp2008 dot com

  • We offer FREE foreclosure help. We know how to do short sales and have investors who will buy with CASH which banks prefer.

    Christian-owned business, but we help ALL of God's children. Especially those in need.

    You can figure out our website from my screen name.

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