Buyer's must have patience -- Short Sales - 05/28/08 07:10 PM
This week I am talking about buyer's patience.  There are plenty of short sales in the market place today.  What is a short sale?  This is when the lender is willing to forgive part of the debt owed by the borrower because the borrower can no longer afford their payments due to a hardship, say a job loss.  There are some great deals to be had, but the process is not refined yet.  It takes the lenders  anywhere from 30 days to 6 months to close a deal.  Where does this leave you, the buyer?  Not in a good position and it is not … (4 comments)