"Not another short sale!" whined the Realtor.

“ I swore after the last one that I would never do this again!”

Heard from a fellow Realtor while setting a showing appointment today on a short sale. Okay – we all know that they can be tremendous work. They take a long time. There are often multiple offers, and buyers fall out. And, worst of all, the banks can't make up their minds on what is needed from the seller! But, in the South Florida market, short sales represent almost 60% of the sales!

But - the profession owes it to the community to help them. After all - these are our customers - they are hurting. If they go to foreclosure, they may not be able to purchase another home for up to 10 years! Can the market really bear such a decrease in demand? When is is time to buy another home, won't the homeowner remember how you fought for them?

Short sales can prevent foreclosure and be less damaging on credit. They show on a credit report as "negotiated settlement" or "forgiven debt" in most cases. It is a kinder, gentler way to get out from under a crushing mortgage!

Know your options - contact a professional - communicate with your bank - pay attention.

Feel free to post your experience and questions,

Peace,

Chuck

IMPORTANT NOTICE: Government required disclaimer

Chuck Dinsmore, Charles L Dinsmore III PA, and RE/MAX Preferred are not associated with the government, and our service is not approved by the government or your lender. Even if you accept an offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.