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Short Sales Send More Brokers/Realtors to Court

There’s an increase of legal suits against Brokers/Realtors that handle short sales.

The lawsuits are the result of a variety of different short sale scenarios:

  • The lender did not absolve or relieve the debt (deficiency).
  • The seller received a 1099-S for the deficit of the short sale amount.
  • The broker/agent gave legal, financial and/or tax advice.
  • Broker/Realtor acted outside the scope of their area of expertise.
  • Broker/Rrealtor did not explore nor provide loan modification options
  • Broker/Realtor misguided client on the impact a short sale would have on credit score
Written by Keith Byrd - Go to Keith's Website/Profile