Market-watchers say an unexpectedly large number of prospective home buyers are walking away from such deals rather than endure a closing process that is so complicated it can take up to two years to complete.
http://link.ft.com/r/IOCBMM/
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Wednesday, May 18, 2011
Hopes for ‘short sales’ of US homes falter
Hopes for ‘short sales’ of US homes falter Banks are stumbling in efforts to clear inventories of unsold US homes through a strategy known as “short sales” – in which distressed borrowers are given approval to sell properties for less than the value of their mortgages.
Market-watchers say an unexpectedly large number of prospective home buyers are walking away from such deals rather than endure a closing process that is so complicated it can take up to two years to complete.
http://link.ft.com/r/IOCBMM/
Market-watchers say an unexpectedly large number of prospective home buyers are walking away from such deals rather than endure a closing process that is so complicated it can take up to two years to complete.
http://link.ft.com/r/IOCBMM/
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