short sale: Obama Administration to Standardize Short Sales
- 12/13/09 01:09 AM
Under water homeowners may not qualify for a mortgage modification and the banks have been fairly stingy with modifications. An alternative to foreclosure is the short sale. Short sales have been a logistical nightmare and glacial in time of execution. Recognizing this, the Obama Administration is putting together a plan to make short sales more viable. This article in Banker and Tradesman outlines the proposed changes. … (5 comments)
Under water homeowners may not qualify for a mortgage modification and the banks have been fairly stingy with modifications. An alternative to foreclosure is the short sale. Short sales have been a logistical nightmare and glacial in time of execution. Recognizing this, the Obama Administration is putting together a plan to make short sales more viable. This article in Banker and Tradesman outlines the proposed changes.
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