Last evening I met with a homeowner regarding his decision to complete a Prince Georges County Short Sale. The meeting was initiated by the homeowners lender. In my experience this setup is rare. Typically, in these situations it is the borrower(homeowner) who must contact the lender to inform them that they would like to do a short sale. The fact that the lender has reached out to the borrower to initiate a Prince Georges County short sale shows you the situation that most lenders are faced with. In the last few years lenders have had to adjust their loss mitigation efforts due to the mistakes they have made when foreclosing on their borrower. That may all change soon. Last week 49 state attorneys general came to a settlement with the nation's…
