Thanks and congratulations to all of you who shared some invaluable insights on this growing trend and market.  I find this arena a bit perplexing, however.  I have an abundance of people who because of the changing loans (recasting) and the serious drop in local values (I'm in the San Francisco Bay Area) they cannot but try a short sale (solution) to the problem(s) they're facing.  The challenges for many of these folks stem from their specific circumstances -- some have refinanced the house and pulled cash out; others have properties that they converted into rentals, effectively changing the dynamic with the lender, others are current on their payments (and can continue to make the same) but truly don't see the value of maintaining a depreciating asset -- literally (how can one justify going from $350,000 down to $99,000! FMV?).

Just the same, some of your ideas sound great, I only wonder if there is wisdom in selectively offering services instead of the come one and all approach.  What say you?

If anyone is looking for a great online short sale management tool you should look into www.managemyshortsale.com. It is the only short sale tool that I have found and currently use that gives my clients instant email notification everytime I update my clients short sale file. It has so many other features like pre-loaded lender specific short sale packages, direct lender contacts, foreclosure laws and timelines for each state and I just got an email that they are finishing up their own HUD1 web based software. Anyway, it has cut my wasted time spent in half (follow up calls to homeownwers, attorney's, etc). Everyone who does short sales should look into it. Thanks Bob