October 2009

If you don’t know Phil, he is a “short sale” specialist who has spoken all over the country on the subject. He made a great point in a comment to a post on this site: Remember the banks are looking for maximum recovery relative to the new market values.They will do more short sale deals [...]

The biggest mystery to me over the last eighteen months was why banks weren’t more receptive to the ‘short sale’ process. Studies had shown that it cost the bank more money if it foreclosed on a property than if they accepted a ‘short sale’. For homeowners, a ‘short sale’ makes much more sense for several [...]