It’s not just about short sales anymore. Remember that when a house is upside-down the lender can and will foreclose on the property. Therefore, every treatment available to a client should be looked at through the lens of foreclosure defense. The goal is to protect the rights of homeowners and to ensure that victims of predatory lending have a voice and an advocate. This can only be done by holding mortgage providers accountable and honest. In such, it’s proper to put the mortgage company on the defensive before negotiating a modification, short sale, or deed in lieu. This is done by way of a Qualified Written Request under RESPA. Also, a mandatory Foreclosure Settlement Conference is a great opportunity to have a short sale approved with a waiver of the entire deficiency. The key is that without managing the foreclosure action, a judgment in that action may undermine all of your work in negotiating a short sale. In today’s economic climate it’s essential that homeowners have a team of professionals in their corner. Both the real estate agent and the attorney must collaborate from the first consultation to achieve a positive result. It’s time to work together.