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