Is a Short Sale Boom Coming?
June 15, 2010 by Tom Schieber
Filed under Blog, Featured Posts, Short Sales
A recent article from CNN Money suggests that a Shot Sale Boom is on the horizon.
Banks are ramping up short sales thanks to government incentives and the realization that short sales result in lower losses than foreclosures. On average, banks lose 50 percent on a foreclosure, but only 30 percent on a short sale.
That is good news for distressed homeowners who are looking for foreclosure alternatives, or who have been hoping for an expedited Short Sale. By avoiding foreclosure, and selling their home for it’s current market value, homeowners facing foreclosure can limit the damage done to their credit by the current foreclosure crisis.
For more information on how to qualify for a short sale or other foreclosure alternatives, please contact me directly at (925) 487-3172 or tom@tomschieber.com.
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