DSNews.com is reporting an increased shift by lenders towards Short Sales as a solution to their problems:
“Nearly 2 million housing units in the United States are in foreclosure or are bank-owned, and more are expected to follow, RealtyTrac said. Citigroup experts say the government’s current solutions have been ineffective at keeping people in their homes, and they anticipate lenders could foreclose on another 8 million loans as the economy worsens.
With foreclosures on the rise, homeowners are looking for a viable solution to their problems.
Banks are beginning to go along with short sales in increasing numbers, three years into a U.S. housing slump that pushed the economy into a recession and cut resale values by 30 percent from the peak in July 2006,…”
This trend will only pick up momentum, given the alternative.
The full article -
