« Best way to attract private lenders? | Main | Where can I get the legal forms you talk about? »
February 11, 2007
Can you Short Sale a Rental Property?
Hi paul,
Can you short sale rental property? Any special requirements?
Rodney
You can short sale any property as long as it is acceptable to the lender.
Generally the property must be behind on payments before the lender will
entertain any short sale propositions. Short sales and foreclosures these
days go hand in hand and lenders are taking back way to many properties.
With this in mind you as an investors should be looking for any properties,
rental or occupied by homeowners, that have potential. The potential is in
any property that is facing foreclosure.
Paul
Posted by greggdavis at February 11, 2007 7:10 PM