Real Estate InfoHub Online

A deficiency judgment is something that looms over the head of everyone who has to take a loss on their house, whether by foreclosure or by short sale. This isn’t the law in every state, but in many areas the mortgage lender is allowed to sue for the unpaid debt after the sale of the home – and when they can, they usually will.

Sometime in the past few years, the word “partner” has become a very popular verb, especially in terms of doing business. Think “interdisciplinary collaboration” or “building a strategic alliance.” Any way you say it, partnering is just sound business practice. When you’re a small business, you can’t afford to do everything yourself, and you can’t afford to hire everyone you’ll need to fill in the gaps.

I don’t have to tell most of you that title companies are nervous about closing two transactions involving the same property on the same day. Real estate investors can have a real juggling act on their hands when they’re trying to quick-turn a short sale, except it’s the title company who has to keep all the balls from hitting the ground.

Cementing a deal has to begin with your first conversation with a client. We have some great success strategies in the short sale business, and this conversation is right at the core.

After homeowners fall behind on their mortgage, many of them start wondering about bankruptcy. If you’re going to help these people negotiate a short sale, you should know the basics of bankruptcy in case they need to talk about it.