Great Offers Available with Foreclosures and Short Sales
Short Sale Negotiation
Negotiation through loss mitigation departments will be the key factor in getting your new home for a deep discount.If opportunities emerge in which lenders can sell distressed properties without registering big losses, they will do it.
For example, consider that a homeowner with a $500,000 mortgage is late on his or her loan payments and is facing foreclosure. With the consent of the homeowner and (most importantly) with the lender's consent, you offer his or her lender $400,000 as full payment for the loan, which if accepted means you instantly save $100,000 on a real estate investment. All offers are subject to lender's approval.
This is a short sale.
