I was reading today a post by
Jay - The Phoenix Real Estate Guy.
He was discussing the dumb idea of the homeowner themselves attempting to complete a short sale. It's a great article and a must read.
Make no mistake. A Short Sale Negotiation is one of the most intense and complicated transactions one might ever have. Knowing what to say, how to say it and perhaps even more - what NOT to say... Incredibly important stuff. It's vital that this is put in the hands of experienced professionals.
The question revolves around "why".
Why would anyone want to do this?
Unlike the somewhat valid argument for trying to sell your house using any one of the many "Help You Sell" programs, that argument being that you are attempting to save yourself money, in a short sale transaction any money you might be able to save wouldn't be yours - it would be the Lenders.
As Jay points out, with the Mortgage Debt Relief Act in place, what in the world would make you want to attempt this?
Always use an Experienced Professional!
Labels: debt forgiveness, Mortgage Debt Relief Act
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