Lee Cunningham recently attended a meeting with Dave Liniger, founder and owner of RE/MAX, in which he told agents about a recent meeting with the Treasury Department. In the meeting Dave detailed ways in which the foreclosure crises could be greatly alleviated by encouraging short sales. Short sales is the sale of properties which are in the foreclosure process. It's called a short sale when the home sells for less then what the homeowners owe on it therefore needing the bank to forgive the remaining debt. The Treasury Department recently issued new guidelines for banks regarding short sales in which they stipulate that banks have to respond to short sales in 10 business days and have other cash incentives to encourage short sales. To read more about the initiative by the Treasury Department see the press release at: Greenville SC Foreclosure Options
For more informations on short sales call Distressed Property Certified Lee Cunningham of RE/MAX realty professionals at 864-679-0707 and visit our website at Greenville Real Estate
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