Short sales are becoming a more common occurrence in the housing market. A report released on June 30 by the Office of Thrift Supervision and the Office of the Comptroller of the Currency said short sales increased by 208.5 percent for the first quarter of 2009, compared to the first quarter of 2008. In June the National Association of

 

REALTORS® statistics showed that about half of all recent transactions have been a short sale (15 percent to 20 percent) or foreclosure (30 percent to 35 percent).

A short sale enables the current homeowner to help protect his or her credit and avoid foreclosure by selling the home for less than the amount owed on the mortgage. Short sale properties can be reoccupied quickly and help stabilize neighborhoods, preventing vacancy and blight.
- Wells Fargo

Oh, by the way...If you or someone you know owes more on your home than what it’s worth, and you’re having trouble making payments, and you don’t know what to do…PLEASE CALL...we can help!

Buddy 704.409.4900