"As
our market changes, bankruptcy knowledge is becoming
a more important part of the short sale negotiation
process than
ever before."
It
is almost impossible to do a short sale these days without
some bankruptcy knowledge. And your chances of getting one
accepted drastically improve when you can carry on an in depth
conversation about it with the bank.
Why?
Because banks are more savvy these days to investors playing
the 'bankruptcy card'
and
threatening
them with it. And the banks have started using a few tricks
on investors to
throw them off track so they can weed out the amateurs
from the real pro investors.
Don't
Ever use a hollow 'bankruptcy card' unless you can back it
up with a real knowledge of process...They'll
shut you down so quick you won't know what to say.
True
knowledge of the process is a win-win for everyone involved,
including the homeowners.
How
is the bankruptcy process is affecting us as investors
in today's market conditions. What changes have been put
in place and what we should do about it