I am sure every REO department, short sale personnel and bank personnel having to do with foreclosures went home early Friday or got the day off.
I don't think there will be many banks making many decisions in the next few days until their superiors can sort out what the Government is going to do. Why should they do anything if the government is going to pony up and pay for this mess.
Do you really think some bank official that was in charge of this mess is going to continue on with a short sale offer until they know what is going to happen. There are a hundred different ways the government can go with this. Though I think that people that are not in foreclosure and trying to sell their home via a short sale are going to be out of luck.
The next question I have is how long will this bailout be good for? Will there be a rush of foreclosures?
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