The Real Stuff: Short Sales Speed Up
“Short Sales take too long”. This is the typical response from potential sellers, buyers and real estate agents who could benefit from a short sale vs a foreclosure. Because of this one response, many people are losing their home to foreclosure, when there is another alternative that could save their credit, and their future home purchase ability. New laws will be put in place in June, that require lenders to respond within 30 days to a short sale offer. I am currently working on a short sale that begin in December of 2011. We still have not heard from the lender. This new law will speed up the entire process and be a great benefit to the local real estate market. Sellers will be able to get rid of a home they can no longer afford, buyers will be able to get a home with instant equity, and lenders will get bad debt off their books. Short sales are a win, win, win for all parties.
If you, or someone you know, are thinking foreclosure is your only option, please know there is another alternative. Short Sale. I am a short sale expert, and here to help. The process will get much easier soon.
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