How to Make Money Doing Mortgage Short Sales
Down the street in my neighborhood a house caught fire.
It was a vacant house.
The fire department put out the fire but now the house is badly damaged.
I have a suspicion that a mortgage lender owns that house. It was probably foreclosed on.
Real estate lenders lose a lot of money for many reasons when they get a house back in foreclosure.
That's why mortgage lenders would vastly prefer you do a short sale, instead of getting your house back in foreclosure.
And, this is why mortgage short sales can be profitable to you if you want a way to make money from today's huge real estate problems.
Let me explain.
Foreclosures cost lenders a pile of money. Lenders would prefer that you do a short sale instead. Big money will be made doing short sales as a service provider or a Realtor
There are going to be maybe 10 million short sales done, by my reckoning. If you only do a tiny fraction of that, you can make a boatload of clams and retire in Cancun or somewhere.
Let's see where the opportunities are.
Mortgage short sales, of course, are what happens if you owe more than your property is worth. You decide you can't handle it anymore. Maybe you stop paying. Maybe you keep paying. But you find a buyer and the buyer makes an offer that is less than what you owe. Now, you present the offer to the lender (or lenders if you have two loans.)
You say to them "look, if you let me out of this loan, you can avoid my being in foreclosure. Let this buyer buy the property and get all the money out of what the buyer brings into closing. And let me go, scot free, and you will be financially better off than you would if I just let the house go in foreclosure. Because if you, Mr. Lender, get the property back through foreclosure, it will cost you a ton of clams to fix it up and sell it. But if you let me sell it, I'll get more money for it, and you'll lose money on my loan but not as much money as you'd lose in a foreclosure."
Wow. That's pretty compelling.
The lender loses money, butthey lose less if you do a short sale:
- They avoid getting your property back
- They avoid having your house sit there vacant
- They avoid having to fix up your house
- They avoid having to market your house
- They avoid having to make the property tax payments
- They avoid having to make the interest payments (yes, lenders pay interest on the costs of the houses they own, too)
- They avoid having the house sit there on the market
So lenders love short sales compared to foreclosures. Now you can also see why lenders don't like Deed in Lieu of Foreclosure: they don't want your house back. They want you to sell the house for them, and get as much money as you can. Then you transfer ownership and a buyer moves in and the house is never owned by the lender.
And it turns out that contrary to popular belief…
Mortgage short sales are easy
People think short sales are difficult. They are not. They are easy to do if you understand what the lenders are looking for. They want to make sure that you are getting as much money as possible for the property. They want you to sell it for close to market price. They will accept a price below market, but only if they have to.
There is a little known set of paperwork and procedures that you will want to follow if you do mortgage short sales. The mortgage lenders won't tell you about this but you can get it in my home study course, Mortgage Relief Formula. It has to do with how you present info to the lenders, what you give to them, and how often you call them, when you get to a supervisor, and so forth.
None of this is difficult. Some of it is tedious. But not difficult. And there are some keys that make it simpler and quicker.
And there is an opportunity for you to make money where people think something is hard, and where demand is large, but you have the knowledge and know what you are doing (and you will when you get my course.)
Make money helping people get their mortgage short sales done
You can do short sales for Realtors, so they don't have to worry about doing it themselves. If you are a Realtor, you can have someone do the short sales for you by buying my course and going through it. You can do the short sales yourself, or you can have a spouse or helper negotiate the short sales. I give you the recipe book and you can certainly have someone else cook up the dish.
If you are not a Realtor, you can work with Realtors who get the listings, arrange the sale, but need someone to do all the short sale negotiation for them. No license required to do this. Realtors will pay you. You can do the work yourself or even farm it out.
You can also buy properties and negotiate short sales with the lenders.
There are many opportunities today to make money in real estate because there are so many big problems in real estate. And where there are problems, those with the knowledge can make money. You can have the knowledge and be the ace smartie pants who makes a ton of clams doing the mortgage short sale work for others who think it's hard to do.
Pssst….don't let on how easy it is. Don't tell them about your secret weapon, Mortgage Relief Formula.
And next Tuesday, July 1, we have an expert on short sales that will be available or a conference call. Get Mortgage Relief Formula home trial now, and get instant access and get on that call. Don't miss out on having access to a total short sale guru and expert.
And I am dumb enough to let you have a full 60 days to try out my course. Get in on the upcoming short sale guru conference call. And if you are anything but delighted, send me ONE EMAIL and I'll refund ALL your money and you KEEP the course!!
So what are you waiting for? Don't miss out on this conference call. Learn about making money, and I mean a lot of money, solving other people's problems. Imagine how grateful they will be to you when they can move on with their lives thanks to you. And don't let them know your secret, how easy this all is thanks to Mortgage Relief Formula.