The financial hazards brought about by the contemporary economic downturn resulted to so many changes and trends in many industries including the real estate sector. The difficulties encountered in dealing with the continuous impacts of the recession paved the way for home owners to resort to massive home loss and giving up their valuable properties to short sale and foreclosure. The former is rather more preferred by home owners due to its lesser impact on their credit score shown in their credit reports.

What does short sale means and how does it affect the economy in the world of real estate as well the home owner who deals with it? Short sale is a settlement in this industry where the home owner decides to put up his property on the market for purpose of selling. The mechanics however states that the value or worth of the property is much lesser than the exact amount of the mortgage loan that the home owner owes to the mortgage provider of lender. In the process of putting a property for short sale, the owner needs to follow certain steps and methods in order to properly complete and validate his transactions.

It is then necessary that you hire someone who has sufficient knowledge in facilitating the short sale process from start to finish such as a real estate agent who is more knowledgeable in dealing with short sale issues. There are innumerable real estate professionals you can find through online sources and referrals from family and friends who have actual experience on their services. There are certain other dilemma you need to face and are bound to encounter hence make sure that the professional you hired can help your through the process and ensure successful results in the future.

What you need to do is to present your offer to the mortgage provider or lender and propose the property for short sale venture. Since you are selling the property in a much lower price than the outstanding balance you owe to the lender, most lenders are quite negative or not supportive with this kind of venture. In fact, established mortgage providers and banks have their own loss mitigation department that is in charge of short sale cases and issues. Through the help of your agent, you may present your proposal to the loss mitigation department for assessment and approval. Remember that there are already fixed standards used as criteria in determining if the property is qualified for short sale. However, if you have a good agent, you can creatively work your way in assuring that your offer will definitely pass through.

An imminent problem you may encounter is when the lender disagrees with your presented value or delays the process of short sale. When this happens, you may suffer losing a prospective buyer of the property even if you already have one because any transaction incurred without due approval by the lender is not considered valid.

More and more home owners experiencing financial difficulties are considering short sale especially as a rather more graceful exit in terms of losing their property. It is also a good alternative if you do not want to further taint your credit history for your future investments.

The Nigerian judicial system in spite of the accolades it has generated recently needs reforms to help it move forward. This very sector like others in the country is still sailing in the wrong direction.

The problem of the nation’s judiciary begins with law practice as its actors are often boldly arrogant and full of proud to the society in which they are expected to exhibit intellect and learnedness in reducing challenges. It may be rightly argued that lawyers are not the cause of the nation’s problems but wrong too to conclude that they don’t aid such problems that grow bigger than the nation. Lawyers’ main concern nowadays appears to help obvious perpetrators of evils in our society get justice only to relapse again and again. It is sad to note that even when offenders privately confess to our lawyers, these lawyers go ahead to borrow them excuses to present to the court just because of money.

So many more things are wrong with the Nigerian lawyers who are always in a hurry to take matters that ordinarily should have been sorted out at home to the highest court. You become their client as soon as you present them with what you think is wrong or how you think you have been offended. He never believes that a client can be counseled or made to understand that he is wrong in the matter he is pursuing. The implications are therefore the acquisition of family lawyers to pursue matters that would waste the magistrate’s time and threat of seeking redress in the court even when one is obviously in the wrong.

Every well trained lawyer should posses the tactfulness to deal with issues between two or more persons and bring about peace thus reserve time, efforts and energy of taking up a matter he may never wish to conclude in the first place. Because the lawyers are ever desperate to take matters to court, he often ends up sentencing innocent persons to court. Where is his conscious when he has received gratifications and ready to charge more legal fees? Magistrate’s and judges have on many occasions wondered why certain trivial issues that would ended at the desk of a solicitor or even at the police station be brought before him when there are many urgent and pressing issues to be treated.

It is for this reason that many cases taken to our courts are abandoned by even the one who took such matter to the court. The richer could than just drag an unsuspecting poorer person to court all to teach him a lesson by making spend huge sums of amount or because e has been advised to prove a point by his advocate. Sometimes you wonder whether a lawyer will ever tell you the truth. Court injunctions become the easiest means of killing other people’s opinion. The situation is now that many of these lawyers often abandon matters to which they have been granted injunctions because they are satisfied having proved the point of what they are capable of doing.  As we know it lawyers never accept fallibility. When he wins a matter, he hails the court and when he loses, he begrudges the judge and sees the areas not deeply looked into.

Call your lawyer and inform him on the date of your matter, his reply will unpleasantly beat you. He tells that he doesn’t have enough money to fuel his car to the court. Obviously you begin to understand that he is tired of taking up your matter because it does not generate sufficient money from you to him.

Adjournment is an instrument of waste of time with which a lawyer stalls for time to cause their victims harms. The Nigerian judiciary has not found any solution to this problem eating up that arm of the government. Every lawyer in way likes it but hates to experience it. It is this adjournment that makes a suspect spend many years in jail awaiting or going through endless trials.

He tells you he is learned while you are merely educated but a lot of them shy away from going to courts because there is a new profession called estate management. In Nigeria, Estate surveyors and Valuers and Real Estate Agents are on their knees begging lawyers to allow them practice their rightful profession but a lawyer tells you he is more learned and honest to be entrusted with the profession. But does he conduct valuation of properties? Many lawyers now sit under the trees waiting to rent out single rooms while also avoiding going to the courtrooms.

When a lawyer acts on behalf of their clients in a landlord and tenant matter he is likely to worsen the situation that could have been solved by hurriedly showing the tenant the road to court in a proceeding that could last for more than 2 years before judgment is secured. Te objective of the lawyer in this case is to enable the landlord forfeit his rents for the period that the trial lasts. Usually, tenants abandon the property before the end of such matters are seen leaving his rents unpaid. The landlord well gracefully accepts the situation at least he has his property to rent out to another tenant.

The implication of this again is that an impecunious tenant could use a lawyer as an instrument of delay and avoid the payment of his rent until he moves out of the property on a night taking the landlord unaware. This development is a bad one and needs to be addressed if we are genuinely interested in instilling national morality in our people.