mortgage meltdown: Here's what I don't understand about Short Sales.... - 01/31/11 11:38 AM
Here's what I don't understand about short sales....
Based on what I have read, and my own interpretation gleaned from conversations with friends, clients and potential buyers...
The great majority of the homeowner's involved in short sales do not want to leave their homes. Banks are overwhelmed by the paperwork both for the new loan for purchase and the documentation of the hardship for the old home. Foreclosures and other vacant properties blight neighborhoods Short sales and Foreclosures cause a HUGE hit to credit scores and preclude most buyers from purchasing another home for 3-10 years, extending this crisis for the … (2 comments)

 
Bridget McGee, Maryland Mortgage Mama NMLS#196068 (Corridor Mortgage Group 410-960-2061) Rainmaker large

Bridget McGee

Maryland Mortgage Mama NMLS#196068

Baltimore, MD

More about me…

Corridor Mortgage Group 410-960-2061

Address: 1825 Dundalk Avenue Ste 101, Baltimore, MD, 21222

Mobile: (410) 960-2061

Office: (410) 282-6456

Email Me

Find Maryland MLS Listings


Listings

Links

Archives

RSS 2.0 Feed for this blog