“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.”