New Guidelines Unclog Short Sales Providing Buying Opportunity for Real Estate Investors, Landlords

Uncle Sam has been frustrated with slow adoption of short sales. Short sales are where homeowners who are facing foreclosure negotiate with mortgage lenders to have them accept less than what is owed to them. Therefore, Treasury department finally adopted guidelines this month that had been proposed in April of this year.

The new short sale guidelines recommend that lenders offer $3000 to second mortgage and home equity lien holders, which will be subsidized with $1000 from Treasury. These new guidelines should help drive an increase in short sales as negotiations with second mortgage and home equity line holders make the process complex. This new process provides a structure enabling faster negotiations.

Real Estate Investors, Landlords looking for additional investments can now make offers to homeowners who are facing foreclosure that may be much easily negotiated with lenders. This provides a buying opportunity for real estate investors and landlords in the coming year.

Read about the new improved short sale process that lenders will be implementing by CLICKING HERE

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This entry was posted on Monday, December 14th, 2009 at 5:00 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.