{ August 6th, 2009 }
The Long Delayed Short Sale
Somewhere between their panoply of pie charts and musings from absolutely inane octogenarians (ever read Al Neuharth or Larry King?), USA Today has managed to publish a very interesting read on the current state of short sales.
For the uninitiated, there’s nothing short about short sales. Paraphrasing from my brilliant posting on April 17: Short Sales are an increasingly popular way for banks and homeowners to avoid foreclosure proceedings by unloading distressed real estate at a discounted, agreed-upon price. What’s not so obvious, at least from the nomenclature involved, is how long it actually takes banks to unload said real estate.
Take a minute to check out the article- it’s definitely a worthwhile read, especially if you’re thinking about getting involved in a long-term relationship with a short sale.
