My friend, fellow guitar strummer and Shortsaleology guy Cory Boatright just passed along this article from the Washington Post that’s worth reading…
This shoul be especially interesting for you short sale folks (like Cory)…or anyone who’s involved in loan mods……or heck, anywhere in the preforeclosure arena at all for that matter.
- Number of completed short sales jumped 208% in Q1 2009 (compared with Q1 2008)
- Short Sale rate is expected to get higher (thanks to Obama’s recent bank incentives)
- Bank of America now aims for 7-week short sale approvals
- Wells Fargo began streamlining its short-sale process last year, now aims for 30 days or less
I know we’re all in a number of different REI niches, and might have varying perspectives on how this will or won’t play out….both for your own REI biz and for the industry as a whole.
So what are your thoughts on this?
- First read: “Coming Up Short, More And More”
- Then comment below…