Each and every week, there are things going on that impact the short sale business. Sometimes there are big changes to federal and state policies that impact short sale processing and the distressed property world. Other weeks, there is short sale news about government programs for distressed borrowers.
Read below to learn about some of the interesting short sale news and weird stuff that went on this week in the distressed property arena:
Feds Punish One Borrower While there are certainly many people that took advantage of the real estate and mortgage market and lied on applications in order to make bundles and bundles of money, I’m just not convinced that this poor guy should be the scapegoat. Read about what happened to one Citi borrower.
Bank of America Lies to Customers and Awards Bonuses Shame on Bank of America. Read about the allegations made against them in court by former employees about how they preyed upon those borrowers facing foreclosure.
Why Short Sale Agents Don’t Need to Know Short sale agents don’t need much training in how to master new and emerging markets. Read this fascinating article to learn more what you don’t need to know and how you can master any market.
There’s lots going on in the distressed property arena. And, if you are actively working with ‘distressed’ borrowers, it’s important to keep up with the short sale news and all of the changes in the industry. Sometimes that’s hard, which is why we’ve provided you with a weekly recap of the short sale news right here.
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