A recent press release by Lee Cunningham was well recieved and gave an overview of what the Treasury Department intends to do about the wave of foreclosures that are threatening. Currently not even a third of the foreclosures that are in the banks pipelines have been processed. To forestall the disaster these foreclosures would have on markets, home prices and lives the Treasury Department with advice from Dave Liniger- RE/MAX founder, put forth new programs to help short sales. Short sales are the selling of a home which is in the foreclosure process at a loss, with the bank forgiving the difference between the sales price and the amount still owed on the mortgage.
Check out the press release: Foreclosure Options - Short Sales
If you have any questions on foreclosures, short sales or distressed propertys contact The Cunningham Team of RE/MAX. our website Greenville Real Estate
Recent Comments