When enough is enough - Short Sale?
Many agents are more likely to handle a short sale these days than any other transaction, but many agents don’t have the insight to handle them and that is why so many agents are signing up for seminars, which is a good thing. Agents are being educated that short sales are a whole other type of transaction and need different handling. Rules and Regulations apply that are not in a standard transaction.
There was no need before; it was a whole different market then. But they're probably going to be an important part of the market for a while; it's going to take a long time to recover.
The important thing to remember for a homeowner heading down that road is to act
quickly, before you delve into the nest egg. If you truly can’t make those payments call
a real estate agent. Preferably one that is working with short sales and has had training
in short sales.