Ooohhhh … I get the biggest “I told you so” possible! Yep, my message has made it all the way to the top!
The Obama administration is expected to expand its mortgage aid program today and announce new measures that will help homeowners avoid foreclosures and guess what he’s specifically talking about . . . you guessed it… Short Sales!
The proposal is expected to encourage short sales!Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan are scheduled to appear today and discuss, among other things, benefits of Short Sales.
Short sales are preferable to foreclosures because the impact on a seller’s credit is less damaging than a foreclosure, the Short Sale allows the seller to sell the house at a closing like a regular transaction and leave under their own terms rather than upon receiving a post foreclosure eviction.
Foreclosures rates continue to increase up 32 percent in April compared with the same month last year according to RealtyTrac Inc.
Mr. President, Secretary Geithner and Secretary Donovan, I have a FREE CD that covers Short Sale Basics if you or any of your staff need a refresher . . . just click here.
