Agreed, but I am talking about making money from them. The homeowner doesn't make any money, the bank doesn't make any money. The Realtor, the attorneys, the title company, the appraiser and possibly the inspector - they all make money from a successful short sale transaction. So my point originally was simply that the only person that makes any money from a short sale transaction is the Realtor, etc. etc. etc. yada yada yada.

"Well the bank doesn't exactly win by selling short"
" I hope I don't have to keep repeating myself. sheesh "

the back and forth has gone on long enough. you wore me out:-)
we will have to agree that one of us is misinformed and let anyone reading come to their own conclusions based on their experience.

Suzee-"the bank doesn't make any money"

For the future they actually do.Where they make there money is in the monthly interest payments.For defaulted properties they are required by the regulators to have 3 times of the loan amount for reserves.So while it is non-performing they have alot of cash they can't loan out on and it's locked up making them no interest.

There are many benefits besides monetary to doing a short sale.

As to your point on mortgage insurance not all loans are insured so that doesn't always come into play on a short sale.The loss mitigator for the banks actually get performance bonuses for getting the bad loan off there desk-so do servicers of the loan if it's outsourced.

The purpose of a short sale is not for the homeowner to make money.The bank is taking a loss and wouldn't do that if the seller had a gain from the sale.

Now how it really goes down sometimes is these shady investors will do a bill of sale outside of closing and give the sellers money for "furniture,moving expenses,etc."

In my opinion short sales don't pay enough for the work involved.You just make it seem from your monetary statement that no other value exists to the parties and if they aren't getting a direct check on the HUD or some other way that short sales are a waste of time..

Good for you, JA! Do it because you can.... If and when you help because you want to, who cares what the rewards (if any) are.