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

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

by Robert Irwin

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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.



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Product Details

ISBN-13: 9780071635585
Publisher: McGraw-Hill Professional Publishing
Publication date: 05/04/2009
Pages: 208
Sales rank: 765,108
Product dimensions: 5.90(w) x 8.90(h) x 0.70(d)

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

Preface

1.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

Customer Reviews