It appears that most major lenders have frozen all foreclosures until at least the end of March. A formal announcement is expected Wednesday from President Obama concerning the foreclosure crisis we're in. I think that this is a great time for the lenders to step up and get their act together! The short sale situation is one of the main reasons that there are so many foreclosures. If the lenders would beef up the staffing of the short sale loss mitigators, we could close on a lot more short sale home sales instead of having them end up in foreclosure. I applaud the freeze on foreclosures. I just hope that the lenders will continue to work diligently on the short sale files sitting on the desk of the loss mitigators!!
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