How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances

by Robert Irwin

Overview

Don’t lose your ho me to foreclosure! Do a short sale!

Robert Irwin, one of America’s most trusted real estate experts, provides the tools you need to avoid foreclosure—and protect your credit, your wealth, and your peace of mind.

How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances removes the complications and stress often associated with short selling a property. Using real-life success stories, Irwin explains how a short sale works and walks you through the process step by step. You’ll learn how to:

• Convince lenders to engage in a short sale
• Deal with a loss mitigation committee
• Get a loan modification
• Find an agent
• Manage issues with the IRS
• Beat the deadlines that can doom a short sale

It contains all the paperwork you’ll need to execute a short sale, along with listings of helpful outside resources.

How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances provides everything you need to get out from under—without spending a dime of your own money.

Product Details

ISBN-13:	9780071636650
Publisher:	McGraw Hill LLC
Publication date:	08/28/2009
Sold by:	Barnes & Noble
Format:	eBook
Pages:	208
File size:	4 MB

About the Author

Robert Irwin is among the nation's premier real estate experts. He has written more than 20 books covering all areas of real estate, including the bestselling Tips & Traps series. Learn more about the author at www.robertirwin.com.

Table of Contents

Preface1.HOW A SHORT SALE WORKS
True Stories From The Front Lines

2.HOW A SHORT SALE CAN HELP YOU
It can save your credit …And Your Peace Of Mind

3.WILL A SHORT SALE WORK FOR YOU?
How To Create A Preliminary Seller’s Net Sheet

4.SELL IT YOURSELF OR USE AN AGENT?
Finding An Agent Who Specializes in Short Sales

5.PREPARING THE HOME FOR SALE
What Work Do When You’re Not Going To Net A Dime

6.HOW TO GET TO YOUR LENDER
Finding the Loss Mitigation Dept.

7. WHY NOT TRY LOAN MODIFICATION?
Lender’s Just Want Borrowers To Continue Paying

8. PUTTING TOGETHER THE SHORT SALE PACKAGE
The Door To The Lender’s “Heart”

9. IS THERE A REWARD FOR MISSED PAYMENTS?
And other Tricks of Short Sales

10.TAX CONSEQUENCES, REPAIRS, AND BPOs
How To Successfully Deal With Them

11.BEATING THE CLOCK
Understanding The Timelines You’re Up Against

12.ALTERNATIVES YOU SHOULD CONSIDER
Deed in Lieu, Renting, Taking in a Partner, And More

13. SCAMS TO AVOID
Fixers, Bailouts, Double Escrows, Leasebacks and More

14.RESOURCES, HELPFUL DEFINITIONS, AND TYPES OF MORTGAGES
What You Need To Know