Advanced Loss Mitigation from the World Short Sale Main Event
Wednesday, June 11th, 2008 | Real Estate Investing
By Josh Cantwell:
Check out these highlights of what went down at the World Short Sale Main Event during the Advanced Loss Mitigation discussion with me and Jerami King.
We did a lot of teaching, and we had a great time doing it! You’ll see what I mean…
Let me know your feedback. Do you want to keep seeing more of Jerami? (Maybe we can dig up an old photo of him too!)
2 Comments to Advanced Loss Mitigation from the World Short Sale Main Event
Robert, even if the government does waive that requirement, which I really don’t see happening because of all the liabilities with the bank owning the house, it costs the bank more money to completely go through the auction and the cost of maintaining the house at least up to code while it is an REO than it does to do a Short Sale generally. Some banks can’t quite figure this out, but that is why as a Short Sale investor, you almost have to run their numbers for them and show them the risk/reward scenario.
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Great info. Thanks! But I heard that short sales may get tougher since the government has waived the requirement that banks hold funds in reserve for bad debt they take back as REO properties. I hope this isn’t true.