Tina Merritt

Will "Short sale" become the "it" phrase for 2008?  Only time will tell.......

Here are some surefire ways to get your short sale rejected:

1.  Have your agent or attorney write your hardship letter.

2.  Don't fully complete your short sale package.

3.  Don't be willing to relinquish assets.

4.  Show unwillingness to work with the bank prior to asking for a short sale.

5.  Have an inexperienced agent negotiating for you with the bank.

6.  Threaten the bank (i.e. "I'll just leave the house with the door open").

7.  Don't answer all of the questions the bank asks.

8.  Decide to request a short sale a week before the foreclosure sale is scheduled.

9.  Treat it as an emotional transaction instead of a business transaction.

10.  Don't be willing to hang your ego in the closet for the short sale process.

Remember, the bank is under no obligation whatsoever to do a short sale.  Banks are not interested in making a short sale a "smooth trouble-free transaction".  They want their money - it's that simple.

Tina in Virginia