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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: RockyBalboa who wrote (122217)5/11/2008 11:32:51 AM
From: Jim McMannisRespond to of 306849
 
Homeowner's Hopes Ride With State Mortgage Reform Bill

courant.com


A SINGLE MOTHER of three children, Lisa Murzin-Pelcz, left, spends time with her son Elijah Murzin-Robar, 3, on Saturday in their home. Murzin-Pelcz is in the final stages of foreclosure, and could lose the house she?s lived in for 12 years when court proceedings start on June 10. (ROSS TAYLOR / May 10, 2008)



To: RockyBalboa who wrote (122217)5/11/2008 11:34:41 AM
From: Travis_BickleRespond to of 306849
 
A short sale is not REO. The purpose of the short sale is to avoid REO. With a short sale everything happens at the same time at the closing.

Buyer gets clean title to house
Bank gets cash
Seller gets released from the note

You are thinking of deed in leu of foreclosure