Short Sale Article From "Managing REO"

[Eric M.]

June 2, 2010
The Potential Perils of Short Sale and Mortgage Fraud

[COPYRIGHTED MATERIAL REMOVED]

[Ted Akers]

Typical for this type of article, there is no distinction made between properly disclosed investor transactions. A "straw buyer" would be fraud, but I have seen little press actually involving straw buyers. To say the use of an LLC is a red flag is irresponsible, as many professionall investors choose to buy in a business entity. I do not have the reference, but was just told by someone knowledgeable that the percentage of California short sale approvals has actually decreased since requiring negotiation only by licensed realtors. Short sales are complicated. Expecting that a realtor can become an expert to the extent of a professional negotiator is wishful thinking.