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With the not so good real estate market that we have, more and more homeowners are having a hard time paying their mortgages. And when you’re not able to pay your debts, you can be in danger of facing bankruptcy or foreclosure. As an alternative option of foreclosure, Short Sale as defined by mortagagenewsdaily.com is an “arrangement” between the current owner of a home and the bank that lent them the money to buy their home to accept an offer for less than the total amount owed to pay off the home. As short sales being the lesser evil and with homeowners distressed, they opt to doing a short sale. However, as they are becoming panicky, they usually just hire the first person that says we can help you or let us handle everything. But with short sales, one cannot be so nonchalant. You need to work with an expert to be successful. How does one become an expert on Short Sale? Well, one might say that you have to take short sale classes or be a Certified Distress Property Expert (CDPE). Experience is also another factor that should be look into. And there are guide questions that you can answer such as “How much knowledge have you gained about short sale on time that you’ve become a Realtor?” or “Do you know what a lien holder is? or what about loan modification and loss mitigation?” Are you familiar with those terms? But those are just some things that you might want to think about when becoming a short sale expert/specialist. There are still lots of work cut out for you. And like all roads to expertise, you need to devote time and hard work.
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real estate, homeowners, mortgage, bankruptcy, foreclosure, realtor, sale, listings,
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