home affordable foreclosure alternatives: Home Short Sales: A Better Alternative?
- 04/20/11 01:13 AM
Due to recent government incentives, home short sales are becoming the darling of the distressed-property marketplace. A short sale keeps owners out of foreclosure, because the lenders allow the homeowners to sell their house for less than they owe. Banks have really sped up the process, hiring large numbers to serve the short sale specialty. In early 2010, one of the very largest banks had more than doubled the number of home short sales it approved, sometimes as quickly as 24 days. Compare that to last year, when short sales stalled indefinitely or took more than six months to complete. The … (2 comments)
Due to recent government incentives, home short sales are becoming the darling of the distressed-property marketplace. A short sale keeps owners out of foreclosure, because the lenders allow the homeowners to sell their house for less than they owe. Banks have really sped up the process, hiring large numbers to serve the short sale specialty. In early 2010, one of the very largest banks had more than doubled the number of home short sales it approved, sometimes as quickly as 24 days. Compare that to last year, when short sales stalled indefinitely or took more than six months to complete. The … (2 comments)
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