We provide pre-qual and commitment letter once automated approval is received.

Now as Dick referred to, with some understanding of the short sale process and some patience and time to commit to doing it, you can negotiate the lenders note down below what is owed.

Congrats on committing yourself to getting started!

They feel comfortable signing it right then without an attorney looking over it (attorneys complicate everything), and by signing something they feel committed.

There is always a reason to not commit and to not get started.

Some HML's will charge a commitment fee if they have to hold the money, and you don't use it.

They already have pre-launch commitments worth about $50 million.

Many times the time commitments between the two are exactly the same, what it really comes down to is what you decide to do with your time.

You're going to get a lot of people telling you how to go about working in this business, but if you really want the best chance at success than I would stress to learn as much as you can BEFORE commiting your money to a particular deal.

have your lawyers write an addendum to the purchase contract disclosing the amount which is the difference between the appraised value and what the seller actually wants... label it a marketing consulting fee to a XYZ company.the key to cash back is the relationship your lawyer has with title company. have your seller order title through your attorney and everything is fine.good luck and if you need clarificaiton let me know...This is advice for how to commit mortgage fraud.