I have been doing short sales for about 3 years, I have seen a lot but I am still learning. I known that banks sometimes might denied a short sale in the following cases:

• 80/20 they can agree on how much each one is getting, sometimes the 2nd mortgage wants more than what the first mortgage is willing to approve.
• Contract price is too low or property is so ugly and has to many issues that no one is interested to pay what the bank has approved.
• Too many liens on…

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I just read an interesting article on DSNEWS, the article explains that major lenders are giving their borrowers insentives for short sales, and some are trying to streamline the process.



The article states that Wells Fargo has been giving relocation assistance up to $20,000 in Florida for if the borrower chooses to go do a short sale or deed in lieu. Chase is also offering up to $20,000 if the borrower doesn't qualify for a loan modification and up to $30,000 in CA. Citi has… Continue

I read all over the internet about the new MARS rules, that wont be enforced to agents in good standing with their local boards.

This is a great news for us, before MARS required us to make several disclosures and we were not allow to collect any retainer fees.

The new rules:

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