Add a comment | Tuesday, June 16, 2009
With the news released yesterday about the new 90-day moratorium, home sellers are given another chance to get their home sold (in the event they choose not to modify).
In the last several months, banks have been very lax about dealing in a productive way with short sale properties. With the second moratorium in the last 6 months, this may just be what banks need to realize they must deal with distressed home owners. While some home owners may wish to modify their current loans, this will give others who wish to sell the ability to do so.To successfully sell a short sale in this market, a home seller must find a real estate professional experienced in dealing with banks in these situation. In my personal experience, the banks DO NOT like 3rd party negotiators. Sellers beware when it comes to hiring a company that asks for money upfront. This process can efficiently be handled with the right real estate professional.
