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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (71331)	8/26/2009 7:49:22 PM
From: Sam	Read Replies (2) \| Respond to of 74559

These houses aren't even being listed anymore, the owners are trying for short sales (silly, taxes lurk) or if they talk to a good lawyer, bankruptcy. My case load burgeons. Why do "taxes lurk" on short sales? Why not do a short sale if your mortgage lender accepts it? My understanding is that if mortgage holders agree to a short sale, then they also agree to eat the difference between the sale and the mortgage.

To: Ilaine who wrote (71331)	8/26/2009 8:41:34 PM
From: Maurice Winn	1 Recommendation Respond to of 74559

Until interest rates are back up to a level where people think it a jolly good idea to save money to earn interest, it's doubtful whether the bottom is in. As interest rates are increased, those who thought they were buying the bottom using world-record low interest rates might find things not going as well as planned. Until renting is considerably more expensive than buying a house, there is some rebalancing to be done. With a burgeoning bankruptcy caseload, your experience suggests the bottom is NOT in. When you are unemployed, or perhaps more accurately, redeployed, then perhaps the bottom will be in. Mqurice