Because short sales are currently net 80-82% of Fair Market Value to Fannie--which is more than Fannie gets from an REO sale, not to mention that by the time the property goes to foreclosure, it's worth far less in most areas of the country and has sometimes been vandalized. http://www.rebuild.org/news-article/foreclosure-and-stripping-homes/ To ensure that the former homeowner is ready to purchase again in two years, s/he should pay all their other debts on time and use no more than 50% credit capacity on credit cards.According to the Mortgage Debt Forgiveness Act of 2007, the amount of mortgage deficiency (known as "phantom income") will be forgiven if the house is owner occupied.

`(b) Purpose- The purpose of the HOPE for Homeowners Program is--`(1) to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership;`(2) to allow homeowners to avoid foreclosure by reducing the principle balance outstanding, and interest rate charged, on their mortgages;`(3) to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets;`(4) to target mortgage assistance under this section to homeowners for their principal residence;`(5) to enhance the administrative capacity of the FHA to carry out its expanded role under the HOPE for Homeowners Program;`(6) to ensure the HOPE for Homeowners Program remains in effect only for as long as is necessary to provide stability to the housing market; and`(7) to provide servicers of delinquent mortgages with additional methods and approaches to avoid foreclosure.

No free software I know of, an if you're going to be in the RE biz in any capacity ou should want to pay for this valuable software as it will cut down on the wasted time?

I also have my clients sign a 'Working with a Real Estate Broker' which describes the various capacities under which an agent can represent you.

However, just to play devil's advocate a little further on this - does an asset increase or diminish your capacity to acquire more assets.

What capacity have you been a landlord in?

The client has typically shared information with his/her representative--that being the real estate agent; that, if the agent were not acting in that capacity--they might not have otherwise shared.

It is true that some brokers may find one high earning transaction to be of a greater priority in comparison to a transaction of a lower earning capacity.

That comfort or capacity to handle the risks are your barriers of entry into the asset.

In many states dual agency is not even allowed by law.A broker or agent in many cases can still get the whole commission by having the seller or buyer as the client and having the other party as the customer performing "ministerial acts" only for them.Ministerial acts for example can be filling out a contract but not answering questions from the customer on what's the lowest they will accept and other key data the seller might have given in a client capacity.