Hello everyone,

The U.S. Treasury Department on Monday released a plan to speed up and encourage Short Sales as a means to help families avoid foreclosure. We’ve been offering Short Sale proposals to public officials for over a year, and although the new guidelines aren’t everything we were hoping for, they do represent a significant improvement over the current situation.

Short Sales have been difficult to close, and these new measures are a huge step in the right direction. One major highlight: A lender must give a yes or no answer to an offer within 10 days. Also included: a moving allowance, incentives for sellers and lenders, commission rules, and a stipulation that releases sellers from debt liabilities.

Here’s an initial Reuters news story outlining the new policies.   Please call me if you or someone you know is in a short equity position and is considering a short sale.  

In partnership with ForeclosureRadar.Com, you have access to the latest foreclosure (REO) information available, check it out and let me know if you have any questions.

Welcome to Vicky Van Brocklin’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Danville.