I have learned something new today. Apparently that when you try and do a short sale, there are companies that call themselves "negotiators" that tyr to come into the mix. What they do is take your offer and go to the bank and "fight" for them to accept it. They have a nominal fee from you, but they also get paid by the bank as well. Usually they get about 3-4K per deal with maybe about 500-800 coming out of your pocket.
So, let's say the owner owes the bank 200K on the loan. The house is worth 250K. You come in and saythat you will offer, for example, 100K for the house. The negotiator takes that to the bank and tries to get them to accept it. If they do, great and if not, he comes back and asks you to up it a little bit.
Did anyone ever hear of these negotiators? Can't we talk to the banks ourselves? Why do we need them? Or do we need them at all?
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --