Aurthor: Steve Queen
Bowie MD Short Sale Laws Assist Both Home Owners And The Bank
- The bank is no longer comfortable they will be able to receive clear title post foreclosure. A short sale is a title guaranteed sale with a grant deed. Good for both the bank, the seller and the potential purchaser.
- Homeowners are receiving relocation incentives when the home is sold. The banks have been waiving most deficiencies from the sale of the property while not requiring a cash payment or a promissory note.
- Previous bank culture considered a short sale a negative. Laws which force the action will remove the stigma and the banks will actually realize it is cheaper to short sale. Homeowners are seeing the big advantage of facilitating a short sale rather then allowing the property to go to foreclosure.
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Bowie Short Sale Laws Assist Both Home Owners And The Bank