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Do you really understand short sales?
It seems the real estate market has once again changed focus.  Most properties on the market today are listed as a short sale.  What has caused the change? I believe a couple of things occurred which redirected the market.  The first was the moratorium on foreclosures.  In an effort to slow the "free fall" of prices due to an unprecedented number of properties being foreclosed the government place a foreclosure moratorium on banks that received "bail-out" money.  Second, the Treasury Department has set aside funds for the Making Homes Affordable program whereby the same banks who had the moratoriums are now asked to modify the mortgage loan for qualified home owners.  The key is "qualified" as not all do or will qualify as you must have an income in order to get a modification yet have no additional funds available and going in the hole by trying to continue to pay the mortgage. Every month they find they are "robbing Peter to pay Paul".  I have met homeowners who tell me the banks have told them to stop making their mortgage payment in order to apply for a modification. 
When a owner becomes unemployed, has a job transfer or they are just looking to move ... more

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