J.J. MCallister, a Pacific North West  Real Estate Broker  that specializes in representing buyers in short sale transactions went on to say: ” I’ve found short sale transactions to be difficult at best, impossible at worst” .  Many transactions drag on for months only for critical contingency deadlines to expire, effectively killing the deal. In the mean time ? ” My client is put on hold by the bank’s loss mitigation specialist”.

” The public is being mislead”   What’s being touted as an immediate, viable remedy for the homeowner that must move, as well as a screaming financial opportunity for the first time as well as investment property buyer, rarely translates into a ” Closed Sale”. J.J. Went on to say .. ” The banks are willing to agree in most cases to an 18% gross adjustment of mortgage; in a market that hasn’t hit bottom”  Most buyers  are looking for a much deeper discount.

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