Government Streamlines Short Sale Process
By Stephen (Steve) Love
(Bennion Deville Homes (Formerly Windermere Real Estate) - Palm Springs Area)
As mentioned in our previous blog "Short Sales Revisited", the Obama Administration is planning on implementing strategies to streamline the short sale process which is long overdue and hopefully takes away the stress and frustration that up until now is customary with the short sale process. Can hardly wait ! Even with the experience we have in Short Sales, it is often very time consuming and frustrating. This new plan is a welcomed necessity. The following is a quick primer about Short Sales and the proposed "Plan" : What is a short sale? A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements w...
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