You might love your house and want to stay in it, living there.

Perhaps you put money into fixing it up. Maybe you borrowed money on a second mortgage or home equity line of credit (HELOC) and you were hoping to make a pot full of money or at least a bunch of money and be sitting pretty right now in a house with equity that you built with your own sweat and work.

But it didn't work out that way.

So what you end up with now is a house that you can't afford. The payments are too high. And even though you put work into it, you can't sell it for even as much as you owe.

Some people have put everything they have into their house and have borrowed to fix up their property. And some property could use a little more fixing up!

What then?

You might be interested in how you can short sale a property and not lose it. You might want to buy the property back from the bank when it goes to a foreclosure sale. Or perhaps, do a mortgage short sale and then buy the property back.

Here's why the bank won't let you do a mortgage short sale and buy the property back. Or have relatives buy it back for you.

A short sale is what happens when the bank lets you sell the house to a buyer rather than the bank foreclosing on your house. You find a buyer and sell the house "subject to lender approval." And the amount the buyer is paying is less than what you owe on the mortgages. Sometimes a lot less.

In a normal short sale, the bank believes you will get a higher price than the bank would if they were to take your property back and sell it themselves.

This is usually valid because the bank, as a property owner, isn't particularly good at fixing up houses and marketing them. They're set up to do it, don't get me wrong. They will take back a house and fix it and sell it because that's part of the deal when you service mortgage loans, as the bank is doing with your loan.

But they believe that you would get more for the property than they would, if they were to sell it.

But what happens if in the bottom corner of the darkest part your of your heart, you believe that you have a chance of buying the house back yourself?

Question: would you try to get top dollar for the house, if you are the buyer?

Of course not. You are acting contrary to what the bank wants. The bank is letting you do the short sale in the belief you will get top dollar (as top dollar as is possible today.) But you are trying to pay as little as possible. Isn't that the definition of "conflict of interest"?

In my Mortgage Relief Formula home study course I teach you how to negotiate a short sale with the bank, and how to sell a house in nine days. You can be a Realtor and see your business take off. You can be a mortgage broker and enter a new phase of your career doing loan modifications and short sale negotiations for property owners and Realtors.

There are huge opportunities in real estate today and all you need is a bit of information. Information that you could have used a few years ago…but you can use it for even greater effect today.

Please watch this video on short sales and foreclosures. This is a screen shot — just type in your email and I'll get you to the real video. It's geared to homeowners and Realtors who want to know everything they can about short sales. And it is the tip the iceberg…

 

 

 

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