A Short Sale Solution...FINALLY!!!

If you have been paying any attention, at all, to the current real estate market, then you've heard about "Short Sales". Short Sales have become a main ingredient in today's marketplace, but are a notoriously slow, and often, unproductive way to purchase a house. Until now, if you made an offer on a short sale property, you could wait for months, and months, and months...you get the picture...before you were able to close on the home. And, in many cases, you would never get the house at all. This was due to a very convoluted process of approval; one that often would require the OK from numerous lenders, and possibly multiple investors.

Now, however, there appears to be help on the horizon. Effective April 5, 2010, the federal government will begin offering incentives to lenders to do more short sales. The positives to this new program are that it will help to get a large segment of the housing inventory moving, and it will help to reduce the number of homes that actually make it to foreclosure.

I have attached a link below to an article from the Wall Street Journal that gives a little more insight into the new program.


http://online.wsj.com/article_email/SB10001424052748704207504575130053855146896-lMyQjAxMTAwMDIwNDEyNDQyWj.html

If you have any questions about short sales, or anything else, do not hesitate to contact me!