Why shouldn’t I negotiate with my lender directly?

It is not the formula for success.  For one thing, the property needs to be listed and sold to a third party. Your bank or lender would almost certainly insist that you need professional assistance to handle the sale. Plus, you only get one chance to negotiate a way out of foreclosure through the short sale process and it’s extremely important to have experience and expertise on your side to do it right. You wouldn’t go to court without an experienced attorney, why would you try to navigate the intricate process of a short sale without an experienced short sale expert on your side?  As a mortgage broker, Imperial has relationships and experience in dealing with banks and lenders.

Why would my lender agree to a Short Sale?

Whether a lender chooses to foreclose or agrees to a short sale, the lender is taking a loss. In many instances, lenders take less of a loss with a short sale, and can cut its losses faster then what is required to foreclose. Foreclosure is usually a last resort for everybody. Remember, a lender is in the business of making loans, not owning, managing and reselling properties.