As a certified cash flow consultant, I pride myself on helping people. This of course has rolled over into real estate investing as well.
For those that have or will potentially be in contact with desperate home sellers facing foreclosure, try educating them first.
To cash in on a potential short sale deal try using this conversational suggestion:
"Did you know that a foreclosure can be prevented in most cases? If you are facing foreclosure and don't want to be foreclosed on, contact your lender and see if they will consider a short sale." If they don't know what a short sale is educate them on what it is and the process. (if you don't know what it is just call an agent that specializes in short sales or google it for self help) Simply put, it's the bank willing to accept LESS than what is actually owed on the property.
Also, ask them if they've ever considered filing for bankruptcy. Chances are they'll reply back with an emphatic, "NO, NEVER!" reply. Once they do, simply educate them again by saying, " I didn't think so, but chances are you will not be accepted into bankruptcy anyway which of course is not what you would want in the first place but just by filing for it will give you ( the distressed home owner) an open window of opportunity to push forward to get their home sold because it's going to take about 30 days for them to officially get DENIED. During this 30 day "grace period," the bank will not be able to foreclose on their house!
Implement this into your practice as a property problem solver and an investor and you're income will compliment you for your efforts.
Certified Cash Flow Consultant
Founder & President of Gold Bar Funding Group L.L.C.
Private Real Estate Investor
"Building Wealth by the Numbers"