Many times pre-foreclosure lead will turn into a possible short sale with the bank.
Short sale definition is the bank accepting less than what is owed for a payoff on the loan. It is a time consuming process. It is not fast and it is not always successful.
Think about it from the bank’s perspective: would you take a discount?
It does take some practice doing short sales. I got taught how to do short sales when I was younger. There are things to say and things not to say to the bank in order for the short sale to work.
We offer a course in putting together short sale packages. Contact our office for more information.