I haven't blogged for a long time and promised myself - after returning from Mega Agent Camp in Austin last week - that I would. Why? Because blogging is a good way to share thoughts that might turn out to be useful to a blog reader.
I just signed two dozen letters that I've written to homeowners in Glendale and Peoria who recently received foreclosure notices. I'm asking each one of them to give some thought to selling their houses, avoiding foreclosure.
Is short sale short? No - it usually takes weeks or months.
Is it easy for the homeowner? Well, a foreclosure is easier - you simply put your blinders on and ignore it until your home is sold at auction. The damage to your credit from a foreclosure is likely to follow you around for about four years - more or less.
Whether a short sale is easy or not depends on the level of cooperation of the homeowner and the lender. The short sale agent works hard - collecting information from the homeowner relating to the hardship, marketing for a qualified buyer, communicating the offer to the seller's lender, keeping the buyer's agent informed - and at the end of a successful short sale, the homeowner has avoided foreclosure.
I'm planning a Short Sale Shop Talk on Monday evenings, starting soon.
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