Short Selling Roundup

Real estate short selling or ‘loss mitigation’ seems to be in the news these days. In a nutshell this is a play involving talking a bank into selling a distressed property at less than what is owed so that the bank suffers a smaller loss than it might in foreclosure and the buyer gets a bargain. CRE Online has an article that outlines it: ‘If you are new to real estate investing and wondering what real estate short sales are: A short sale means getting the bank to accept less than what is owed as payment in full. For example: You find a homeowner in distress who owes $100,000 on a property that is worth $100,000. What do you do? Most real estate investors walk away–unless they know how to use a short sale…’

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