Short Sale Tips for Buyer and Listing Agents

Posted by admin on Dec 19, 2011 in Uncategorized | 0 comments

To increase your likelihood of success, always determine the following before making a short sale offer or listing a short sale.

1) is the current mortgage VA or FHA guaranteed; and

2) if not a VA or FHA guaranteed mortgage; then always determine if the loan is structured as an 80/20 with two mortgages and no PMI (Private Mortgage Insurance).

VA, FHA and non-PMI loans have a much higher rate of short sale negotiating success if you understand the guarantee process and what the lenders/investors are looking to accomplish behind the scenes.