Saturday, October 18, 2008
Excellent insight on the success of short sales
Strategy to stave off Arizona foreclosures falls short of goal
by Catherine Reagor - Oct. 18, 2008 12:00 AM
The Arizona Republic
More than 7,000 homeowners facing foreclosure in the Valley are trying to sell their homes through a process known as a short sale, according to Arizona Regional Multiple Listing Service data.
But less than 5 percent manage to sell before lenders seize their houses.
The failure by banks and homeowners to agree to a short sale - to sell a home for less than the amount still owed on the mortgage - is adding to the Valley's growing foreclosure problem.
Read more >>
by Catherine Reagor - Oct. 18, 2008 12:00 AM
The Arizona Republic
More than 7,000 homeowners facing foreclosure in the Valley are trying to sell their homes through a process known as a short sale, according to Arizona Regional Multiple Listing Service data.
But less than 5 percent manage to sell before lenders seize their houses.
The failure by banks and homeowners to agree to a short sale - to sell a home for less than the amount still owed on the mortgage - is adding to the Valley's growing foreclosure problem.
Read more >>
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