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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Short Sales
I know nothing about it but read so much about it on here.
Why are so many houses applicable to sell as a "short sale"? Other than the house being worth less than what the owner paid, why are people allowed to do this? Are they in jeopardy of foreclosure or bankruptcy? Short sales seem great for buyers but are killing the housing market right now.
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Posted 8/29/10 10:49 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Short Sales
yes- people who are behind are their payments are allowed to try to short sale the house
the house is sold for fair market value
comps for distressed sales- short and REO are not used to come a regular sale
they are not killing the market- allowing all these homes to be foreclosed on would have a much worse effect
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| Posted 8/30/10 10:56 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Short Sales
double post
Message edited 8/30/2010 10:57:08 AM.
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| Posted 8/30/10 10:56 AM |
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