Bank Foreclosures & Short Sales

Home sellers frustrated as short-sale deals collapse

By Chris Harpster on August 6, 2009

The problems have become such a kink in the market’s recovery that banks and the federal government are launching new efforts this month to simplify and speed up the short-sale process.

Just 23% of short-sale offers that homeowners receive from potential buyers actually close, according to a February study of 1,300 real estate agents by Campbell Communications. More than 90% of agents cited a slow response from the lender as the reason short sales were lost.

http://www.usatoday.com/money/economy/housing/2009-08-04-short-sales-mortgages_N.htm

 



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Chris Harpster

My goal is to be known as a valuable resource for anyone who is thinking of buying or selling a new or existing home, refinancing, considering a home improvement, or anything else real estate related. Clients will learn about the home buying / sellin... Read more about this Author




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