SHORT SALE EXPERTS
The average real estate agent or realtor is an expert at SELLING homes. Most agents or realtors have not had the experience or training in loss mitigation and short sale negotiations. A short sale expert specializes in negotiations with mortgage companies to sell a home when the owner owes more than the house is worth.
For homeowners experiencing a legitimate financial hardship, a short sale provides an opportunity to sell your property and avoid foreclosure. It is not a “free pass” for those looking for an escape route from an upside down mortgage. You must qualify by proving that you can no longer afford to pay your mortgage. Many lenders also require that you be financially insolvent; meaning that you owe more than you have in liquid cash or assets. If not, you may be required to contribute towards the shortage.
A hardship could be any of the following:
