Fannie Mae and Freddie Mac conservator James Lockhart got an earful about short sales from REALTORS® last week at NAR’s Conference & Expo.
Practitioners complained about lenders’ slow and inconsistent handling of loan modifications and short sales, but Lockhart made it clear there are no quick fixes in the works. “Servicers are stressed,” he told a [...]

Last week I started a two-part series looking at considerations when purchasing a home being sold as a “short sale.” If you missed the first installment, go to www.coloradodreamhouse.com and click on the “News” button.
Now, picking up where we left off last week, we continue with a few more things to ponder when purchasing a [...]

What is a “short sale,” exactly, and why are some folks looking to purchase a short sale home? A home that is being sold as a short sale is one where the homeowner is still living in the house but may no longer be making payments to his or her lender. In most cases the [...]