Stop Foreclosure with a Short SaleHow 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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