Learn To Short Sale House
To Prevent Foreclosure

Learning to short sale house to prevent foreclosure is the hottest way to invest in real estate. Many investors and agents are missing out on huge profits because they don’t know the process.

Shorting a mortgage loan is contacting the bank of a homeowner who is behind on payments and asking for a discount. A bank wants to avoid foreclosing as much as a homeowner does and will do anything to avoid it.

Foreclosure is expensive and many times a mortgage company will prefer to take a loss now by way of a short sale. Banks are in the business of lending money, not owning property.

I found it hard to believe that a company that is in the business of making money would ever consider taking a large loss. I was very humbled after I discounted my first loan by over 60,000 dollars.

After finding a homeowner who is at least 90 days (sometimes less) behind on payments, you contact the bank. Ask to speak with loss mitigation and request the documents required for a short payoff.

Submit only the documents they have requested, exactly how they requested them. Deviating from their requirements will delay the processing of your package.

Follow up diligently. Be careful not to be a pest but be persistent. Checking in every 3-4 days should be more than enough.

Be honest and up front. Don’t try to be sneaky when dealing with a mortgage company’s loss mitigation department. Your deal could fall apart as a result of it. I have found that being honest about your intentions and asking questions if you aren’t sure works best.

Learning how to short sale a house can create a niche market for your business and it is relatively undiscovered.

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