Helping Homeowners Harmed by Foreclosures:
Ensuring Accountability and Transparency in Foreclosure Reviews
Written Testimony
of
Alys Cohen
National Consumer Law Center
also on behalf of
Community Legal Services of Philadelphia, Connecticut Fair Housing Center, Consumer Action,
Consumers Union, Empire State Justice Center, Financial Protection Law Center, Housing and
Economic Rights Advocates, Legal Aid Center of Southern Nevada, Inc., Michigan Foreclosure
Task Force, National Association of Consumer Advocates, National Council of La Raza, National
Community Reinvestment Coalition, National Fair Housing Alliance, National People’s Action,
Neighborhood Economic Development Advocacy Project, North Carolina Justice Center
Before the United States Senate Subcommittee on
Housing, Transportation, and Community Development of the
United States Senate Committee on
Banking, Housing, & Urban Affairs
Dec. 13, 2011
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The best way and most legal way to do it is to sell it to an Investor at the same price your getting it but make a cotcrant with Investor for the difference outside of escrow. Example: You get Short Sale approved at $50k but? you have an investor that is willing to pay $75k you will sell to investor for $50k and just collect the difference from Investor as a referral.You just made $25k.