Realtor
CurrentI currently am involved in traditional homes sales representing buyers and sellers as well as in Short Sales after 30 years of doing Real Estate Loans, then Loan Modification for the last five years.I became involved in Short Sales when I realized that loan modifications in most cases does not make good financial sense, simply because many homeowners I interacted with owed so much more than the actual current value of their homes. In these cases, even if their loans were modified, they in… Show more I currently am involved in traditional homes sales representing buyers and sellers as well as in Short Sales after 30 years of doing Real Estate Loans, then Loan Modification for the last five years.I became involved in Short Sales when I realized that loan modifications in most cases does not make good financial sense, simply because many homeowners I interacted with owed so much more than the actual current value of their homes. In these cases, even if their loans were modified, they in effect would be renting their homes, with the added burden of paying property taxes, homeowner insurance and the upkeep of the property without any benefit to the homeowner. (many homeowners would be paying on a mortgage for twenty years or more and still not have any equity in their homes). By short selling the property they eventually get a fresh start. Show less
