So there have been a few rumors floating around about short sales these days. I have heard a few and here they are. It was brought to my attention some people believe banks will try and freeze short sales. Completely freeze all short sales! Why would the banks freeze short sales? The reasoning behind this madness would be because they are unsure about their fate with the government. Because the banks don’t know how the government is going act exactly. They theoretically wouldn’t want to short sell a home for 90 cents on the dollar or 70 cents on the loan if they could potentially get more from the government. For this reason, some think short sales will go on a temporary hiatus. They think short sales will be put on pause. Do I think this will occur? I have to believe not but who can be 100% sure. I will let you know if I see any changes or unusual difficulties in my short sales. Thanks for reading and come back soon for more!
- Jeff Buettner
Real Estate Wiz Kid
I would like to talk to a Scottsdale Realtor about selling my house…
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