A Real Estate Short Sale

The real estate market has changed. Foreclosures are at an all time high and big equity deals seem nowhere to be found.

Learning how to negotiate a discount for homeowners that are behind on their mortgages or in financial distress is the best way to create large amounts of equity where there is little or none.

You are also doing a good deed in the process.

If you are a real estate agent and you don't know how to do short sales, you are missing loads of potential listings. Investors who don't know the process are left wondering what happened to their business of flipping houses or their large equity rental property purchases. Knowing how to short a mortgage loan can empower homeowners and professionals to take control and prevent foreclosure.

A short payoff sale is the act of negotiating with a bank or mortgage company to accept a payoff which is less than what is owed on the property.

At first I found it hard to believe that a bank would agree to this until I shorted my first deal by over $65,000. Here are three reasons why banks do accept less than what is owed:

1. When not paid, a loan becomes a "non performing asset", which means the banks lose money every month that goes by.

2. Banks do not want to own property, they are in the business of owning liens on property, not managing it.

3. Foreclosure is expensive and accepting less money now will sometimes get the banks just as much money as they would receive after going through a foreclosure (not to mention a lot less headache).

The market is untapped and ready for you to break it open. The time is now to learn how to negotiate debt forgiveness for homeowners in foreclosure.

The process of a short sale can be time consuming and that is what prevents so many people from attempting it, but if you are patient and persisitent you can create a great deal. The market has taken a turn for the worst and many people are in need of assistance. Learning how to short sell a mortgage has not only created oppotunity for profit, but it has created opportunity to help those in need.

Most of your competition doesn't know how to short a mortgage, leaving you with an open opportunity to make it your niche.

The current real estate market change has left us with many short sale opportunities. Help people avoid foreclosure and make great money while you do it.

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