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Common Short Sale Misconceptions

by Atlanta Short Sale Agent on June 15, 2010

Common Real Estate Short Sale Misconceptions

  1. The bank owns the home – Nope! The home owner owns it until the bank takes it in foreclosure (or deed-in-lieu).
  2. All offers on the home go to the bank – Actually, by Georgia Real Estate Law, all offers need to go the seller.  If the seller decides to send them all to the bank or just one, that’s up to the seller. [click for more short sale info...]

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Who Are The Real Short Sale Experts? Part 2

by Atlanta Short Sale Agent on June 11, 2010

Key Questions For Determining Short Sale Expert Status

Last time we talked about the other people that try to help. There are certainly well meaning individuals out there that are qualified and can help.  However, more often then not, these “other” people are looking for another angle to get paid on the short sale than just what the bank has to offer.

Real Estate Agents

Although it’s a bit biased opinion, Real Estate Agents are typically the ones that you should be turning to, especially if the only debt you are dealing with is your home. [click for more short sale info...]

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Who are the Real Short Sale Experts?

June 9, 2010

Key Questions to determine if you’re dealing with a True Short Sale Expert
If you are in the unfortunate majority of home sellers who are upside down on your home and needing to move, it can be a stressful situation.  Add to this the complexity of choosing someone to help you.  You have supposed short sale [...]

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GMAC Short Sale Exchange

May 7, 2010

The more short sales simplify the more they get complicated, instead of complaining about it here, I thought I would show you from quotes from e-mail correspondence with GMAC Loss Mitigation department:
Hi,
Thank you for submitting an offer.  I have a counter offer for your offer. If possible, you should reply to this note through Equator [...]

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I need my home listed ASAP!

February 5, 2010

This happens quite a bit.  I get a call from someone about their short sale and they are frantically wanting to get the home on the market.  In some cases, they want to get their home on the market but they can’t make time to meet with our team or make the home available for [...]

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Here’s An Example Of An Agent Who Does Not Do Short Sales

January 4, 2010

I read this on a forum post the other day and thought, this is the perfect example of an agent who does not understand the short sale process.  Before you read on, please be aware that a short sale involves getting all the parties to agree, so it’s more than a simple negotiation with the [...]

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Short Sale FAQ – Do you have to be late or behind?

December 17, 2009

The short answer is finally yes. 
You must be at least 30 days delinquent for a short sale.
In over a year with shorts sales, we noticed a trend in the last 60 days to get more agressive with borrowers who have the financial ability to pay. 
Previously, if you moved out of the home and could “barely” afford [...]

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Small Community

June 26, 2009

As someone who almost completely specializes in short sales, I’m surprised by the number of agents who still have absolutely no clue. I’m even more surprised by the investors who think they can profit off of the agents hard work without anything in the game. I am constantly getting calls from Investors that [...]

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The Average Loss Mitigator

March 8, 2009

According to our insider sources, the average loss mitigator at a bank  – the person that decides the fate of your short sale in atlanta has the following charactersistics:

Under 30
Average pay $8.50 – $14
Average 300 Files on their desk at time
Expected to work at least 50 hours a week
Written or Unwritten Quota of 30 closed [...]

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We’re Getting Low Balled!

March 2, 2009

That’s kind of the point of a short sale.   The bank is going to take less than what they owe.  Most GOOD short sale specialists will negotiate with the bank so that the owner doesn’t owe anything else once the short sale is complete.  My question is, what difference does it make if you [...]

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