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5 Apr 2010

Short Sale Relief

The new guidlines are out today on how all lenders are to administer Short Sales, or those homes that have to sell for less than what’s owed. In years past, these types of transactions proved to be frustratineg for all involved. Long waits on the phone, frustrated buyers and sellers, and no money left for any fixes to the property. Here in Rhode Island, we have had our share of short sales. The highest part of the market in 2006, many were getting into property only to find their values beginning to drop with in the year.

http://www.realtor.org/realtors/basics_short_sales?wt.mc_id=rd0041

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