A Bank Short Sale
Can Help Prevent Foreclosure

Learning how to do a bank short sale has become increasingly popular due to the state of the real estate market. Investors and agents looking to find more listings or big equity purchases can take advantage of a growing market that has little competition.

If you are thinking about learning how to discount a mortgage loan , now is the time! There are more foreclosures and motivated home sellers now than anytime in history.

When a homeowner needs to sell fast and has little or no equity a short payoff can be negotiated. There would typically be no other option due to the lack of equity. Agents want an average of 6% to sell a house and investors only buy houses that have equity.

Contacting the bank and making a lower offer can turn any low or no equity deal into a big money maker.

After finding a homeowner that is a candidate, contact the bank with an authorization to release information. Ask for the loss mitigation department and request the requirements for a short sale.

Follow the requirements exactly the way they are requested and submit a low offer (25-35% or more off of the loan balance). It may take some time and several follow ups but if your offer is accepted you have negotiated instant equity.

Be reasonable with your offer and be honest and up front with the bank’s negotiator. They are usually helpful and have just as much of a desire to prevent foreclosure as you do.

Contacting the bank for a short sale doesn’t always work, but when it does it pays off big!

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