Most Short Sale Transactions Taking Four Or More Months To Complete
Despite new rules for short sales under the government's Home Affordable Foreclosure Alternatives (HAFA) program which went into effect on February 1, real estate agents responding to a survey said short sale transactions are still taking too long. A survey published recently by property valuations company Equi-Trax reveals the majority of short sales are taking four to nine months to complete, and Realtors say lenders are to blame, although some concede that borrowers need to be better educated about short sales. » Read More
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