by Calculated Risk on 4/05/2010 05:47:00 PM
Monday, April 05, 2010
From Diana Olick at CNBC: Let the Short Sales Begin
I'm ... starting to hear rumblings among the number crunchers that the wave of foreclosures we keep hearing about is about to hit with a thunderous roar.I don't know about a "thunderous roar", but I do think we will see more distressed sales soon. Most trustee sales seem to be "postponed" each month, and perhaps the lenders were just waiting for the HAFA short sales program to begin. That program started today and anyone considering a short sale should ask their lender if they qualify.
Servicers are ramping up the mod process and pushing those who don't qualify out the door more quickly than ever.
Posted by Calculated Risk on 4/05/2010 05:47:00 PM