[quote=ibjames]if you read the comments to that article, most of them are based on that the lady had cancer, or why are they trying to get people that have lost jobs out of their house so fast, etc.. when that is not the majority of FBs out there right now you would think..
Russ, so basically, under what you posted, short sales really haven’t changed then other than not damaging credit?[/quote]
Hopefully, you are right that they will become easier. Hopefully, inventory will also swell and the shortsale inventory be of better quality.
I think the emphasis on not damaging credit points out the need,for “housing recovery” for these shortsellers to be future buyers at reset prices. Maybe two upside down neighbors can just shortsale to each other.(sarcasm)
It makes sense that short sales would have their day in this “crisis”. Short sales make sense on many levels to a community(less abandoned houses) and eventually in a mass default siuation to lenders. In a time of less defaults lenders don’t want to be seen as offer “easy solutions”( I have read that anyway).
It looks like some small changes may trickle in at the transaction level. I think if they become less of a nightmare there are some benefits to average buyers over REO’s(on a case by case basis). Namely property condition (on average) and TDS and compliance issues.
