*VIDEO* Why Short Sales Fail – Part 2 – Qualifying Your Seller with a Second Loan

Posted In Featured News

In this second video about why short sales fail we are going to look at qualifying your seller to do the short sale and talk about dealing with second loans whether they are purchase money or a home equity line of credit – HELOC.

Just like when you are going to show a buyer some homes, you have to qualify your seller before you accept the short sale listing.

If your seller has a second loan that is purchase money, there are times when they will have to bring cash to the closing in order to appease both lenders. If you do not make your seller aware of this fact, your short sale has a way better chance of failing and your seller can even get mad at you.

If the second loan is a home equity line of credit, HELOC, type loan, then the odds of them having to bring cash to the closing is almost 100%.

As agents we need to get the horrible 74% nation average of failed short sales down to less than 10%.

You will see after watching this video and the one before it, that the seller really does hold the key to whether a short sale will close or fail.

Don’t forget to check out my new book on amazon.com titled: The Real Estate Agent’s Guide To Using The Equator Short Sale Website – Discover How to Receive Short Sale Approvals in 60 Days or Less.

More and more lenders are using the Equator short sale website and knowing how to really use it is a must!

I hope you enjoyed this video and there will be a new video soon.

Related posts:

  1. *VIDEO* Why Short Sales Fail – Part 1 – Dealing with the Seller – For Real Estate Agents
  2. Does my bank really want my house? Part #2 – Short Sales
  3. Short Sale Tricks – Dealing with the Buyer and Lender for Short Sale Success
  4. My Book: The Real Estate Agent’s Guide To Using The Equator Short Sale Website – Now at Amazon
  5. Homeowners – Please Help Your Short Sale Real Estate Agent Help You!

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Mortgage Assistance Relief Services Disclosure

Desert Dwellers Realty, Mark Stafford and mark-stafford.com are not associated with the government, and its services have not been approved by the government or the consumer’s lender.

Your lender may not agree to change your loan and/or agree to a short sale.

If you stop paying your mortgage, you could lose your home and damage your credit rating.

You can stop doing business with Desert Dwellers Realty at any time.

You can accept or reject any offer Desert Dwellers Realty obtains from your lender.

If you reject the offer, you don’t have to pay the company’s real estate commission as outlined in the listing agreement. There is no guarantee you will get the results you seek from a short sale.

Desert Dwellers Realty does not provide legal advice.

Seek legal counsel.

Should you hire Desert Dwellers Realty, you may still communicate with your lender.