Short Sale, A Practical Approach by Danny Cachuela

Written by Danny Cachuela, CPA, the book is an easy-to-read guide to the often-misunderstood alternative to foreclosure, the short sale.  The book includes fact-filled information based on his years of experience handling short sale negotiations, both for homeowners and agents.  Intended to inform sellers, buyers and investors, the book offers practical suggestion on real estate transactions involving distressed mortgages or owners under financial hardship.  Timed to coincide with the recent surge in foreclosures on American homes, the book aims to arm readers with helpful information to avoid bank seizure.

Because of the current housing situation, many homeowners are facing possible foreclosure.  In many cases, mortgage payments are going up and there is little equity on the house due to declining prices in certain areas.  This book presents the practical aspects of short sale and what to expect when seeking approval from the lender.

The book is divided into separate sections that offer specific information on buyers, sellers, real estate agents and the short sale process itself.  Key topics include the foreclosure timeline, workout packages, contractual requirements, managing multiple liens and many more.  Written for a broad audience, the book aims to offer information in understandable language for the average homeowner.  This is an excellent reference material for real estate agents.