The main problem is trying to identify the properties where the owner of the property is behid on payments but the lender hasn't filed a Notice of Default.
Some companies specialze in assisting homeowners who know they'll have difficulty in making their mortgage payments, they work with the owners and the lenders to try and make a loan modification or alternative payment plans. These attemps may be successful, but many times they aren't, and they provide one source for identifying owners who are short-sale candidates.
The main problem is trying to identify the properties where the owner of the property is behid on payments but the lender hasn't filed a Notice of Default.
Some companies specialze in assisting homeowners who know they'll have difficulty in making their mortgage payments, they work with the owners and the lenders to try and make a loan modification or alternative payment plans. These attemps may be successful, but many times they aren't, and they provide one source for identifying owners who are short-sale candidates.