I've been hearing it all week from realty agents and mortgage lenders. Now it seems the banks are, understandably, waiting for their government money to help bail out the mortgage crisis. However, this is not without short term effects.
Some of the investors ready to cash in on a bargain have lost out to even lower offers on homes entering foreclosure. Now that it appears the banks will receive additional funding, some of these banks are rejecting the "even lower" offers because they will soon be able to sell for even more with government funding.
This means that for right now, the "short sale" is again a thing of the past in many instances.
Ten Pairs of Books for Christmas
1 week ago