I was surprised and pleased to find a full-page "message" from the California Association of Realtors in the first section of today's (3/10) L.A. Times. (Since it's a paid announcement, there is no link.) It is an impassioned plea to streamline and speed up the short sale process.
'Bout time. CAR claims to have advocated for improvements to short sale guidelines with major banks, U.S. Treasury officials, government-sponsored entities and others to standardize the process, comply with federal guidelines, increase staffing, etc.
CAR is also "calling on regulators, elected officials, nonprofits, business organizations, companies, and individuals ...to resolve this issue and others that get in the way of a recovery."
Here in So. Cal., you know that short sales can be up to 50% of a particular local market. I also believe short sales -- or the way they are NOT conducted by the banks -- are partially responsible for the current market slowdown in many areas. They are a large part of the market inventory, and nobody wants to go through the long, agonizing process of trying to buy one. (Seriously, I'd take 10 court confirmation-required probate sales over one short sale.) Hopefully, the C.A.R. message will be heard by our major mortgage servicers.
Home »
California Association of Realtors »
mortgage servicers »
short sales »
L.A. Times "message" from C.A.R. re short sales
L.A. Times "message" from C.A.R. re short sales
Artikel Terkait L.A. Times "message" from C.A.R. re short sales :
Shadow inventory of solds?We’ve all heard about the “shadow inventory” of foreclosures that is supposed to hit the real estate market. But could there be ...
Cute short sale for aviation buffs(Disclosure: my client made an offer on this property. So have about a dozen other buyers. Currently, no more offers are being ac ...
4484 Stansbury, Sherman Oaks has had a price reduction already!Since you guys didn't jump on it at the old price of $780,000, we've reduced the Stansbury price to $680,000. Yup, $100,000 ...
Now BofA wants to know if they can help meFor those who don't think social media has an effect: BofA Help has tweeted me several times since I posted the item below. ...
Who pays the difference in a short sale? - A quizLet's quiz your short sale knowledge! As we all know, a short sale is when the owner/seller needs to sell the property and it is ...