Are Short Sales Getting More Difficult?!?
I was talking to an investor today and he was telling me that Shorting mortgages have become increasingly more difficult in the past years... He has been doing it for years now, and he was saying that the banks are just not coming down like they used to... Anybody else feel this way? What are you guys/girls doing about it?!
Thank you,
[addsig]
I don't think short sales are getting more difficult. 25 years ago, there were only a handful of us who regularly were doing shorts... now, there are thousands of wannabees who are trying to short... even when the conditions and circumstances aren't conducive for short sale.....
Meaning... if the prequal process is given it's due respect... shorts can become routine...But too many people are trying to short deals that have no business being shorted... and their applications/proposals are rejected.
By learning and playing by the rules, shorts are a reliable acquisition tool... too many people think that they are above the rules and try to circumvent them... and end up surprised when their shorts are rejected.
[addsig]
You are the SSPRO, aren't you?!?
I appreciate your response!!
Thanks!
[addsig]