Hi all.
Anyone seen this paper coming from the Treasury Department? Does anyone know is this is really for real or is this a bill that has no chance of making it.
I have read through the document from Government Affairs and I think that adding incentives, much like cash for keys, which should help with people get out of foreclosure and sell their home short.
I think in the long run the government should consider moving in between banks and their "difficiency judgements". This is where I think it could cause another wave of problems if banks start collecting on these judgements say in about 3 to 5 years from now?
The best aspect for me as a CDPE (Certified Distressed Property Expert) would be the timelines put on the banks to make decisions on these transactions. They could just not approve them within the timelines that are set and still mess with the system, but I think that good offers that make sense could really benefit from this.
My two cents!
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