The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: loantech who wrote (202684)	5/16/2009 6:27:40 PM
From: Elroy Jetson	Read Replies (2) of 306849

A real estate "short sale" is greatly in the lender's interest, but with loan ownership being syndicated and fragmented a law requiring an opportunity for a short sale was essential. I'm sure you appreciated this as much as I do. Finally real estate market debt can be liquidated. alturl.com The only carrots provided by the program is a standardized short sale contract, a tiny incentive of $1k for the loan servicer, and $1.5k "moving expenses" for the home owner. But the stick provided by the program is a requirement that lenders must give up to 90 days for the home owner to effect a short sale in lieu of foreclosure. There's a lot of homes that need to be sold off at market value, far less than the amount of the mortgage. .

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