Stop Foreclosure with a Short Sale
How to Choose the Right Foreclosure Prevention Partner
As thousands of foreclosures flood the national real estate market, more and more Short Sale Negotiation firms are
popping up to help homeowners prevent foreclosure. Unfortunately, not all of these companies are legitimate short
sale negotiation firms, many are scam artists looking to take advantage of unsuspecting homeowners, or real estate
agents who have decided to make short sales their “specialty.”
“If you are researching short sales in Portland, you’ll quickly discover that everyone is a short sale expert. Most of
these “experts” are real estate agents who have turned to short sales out of sheer necessity. They may have taken a
class in short sales, but that’s not the same thing as real short sale expertise,” says a representative from
www.sellhomeowner.com, a short sale specialist company that helps stop foreclosure in Portland, Oregon.
So how do you find a legitimate short sale negotiation firm to help you? To help prevent more people from choosing
the wrong partner, I have compiled the following list of guidelines to follow when choosing a short sale negotiation
partner:
• Look for a company that does not charge fees to the seller. The only companies that charge fees to the seller
are scam artists who want to take your money and run. These companies ask for a fee, because they want a
“guarantee” that they will make a money off of your account, regardless of whether or not your home sells.
True short sale companies will not charge you a fee for your business, and instead work off of a commission
structure based on their sales. This means that they do not get paid unless they obtain a successful short
sale of your home.
• Choose a company that pays its employees with a percentage of your sale. This means that the employees
are going to work as hard as possible to get you the best price. How long have you been working with short
sales or foreclosure prevention? If the answer is a short time, this can indicate someone who has recently
joined this market in order to make a quick profit.
• Make sure the company has licensed and bonded mortgage brokers on staff. If a company does not have
licensed professionals on their staff waiting to help you, then you are most likely involved with a scam. The
Washington State Department of Financial institutions requires that any provider offering loan modifications
be licensed as a loan originator, mortgage broker or consumer loan company.
• Check to confirm that lawyers, not simply sales professionals, review all contracts. Lawyers’ are the only
qualified party to review these complex contracts, and they can prevent you from making several critical
errors.
All of the guidelines above were provided by RE Acquisitions. For additional more information on short sales or pre-
venting foreclosure, visit http://www.sellhomeowner.com.
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