Foreclosure Filings Affecting the Number of Short Sales

A recent article in the Herald Tribune discusses the increase in foreclosure filings and the expected increase in foreclosure filings.

We have seen a substantial increase in the number of short sales we have been asked to handle for borrowers over the same period last year. Whether or not that is related to the increase in mortgage foreclosure filings is subject to debate.

However, it is not uncommon for borrowers to consider a short sale as the better “exit strategy” once foreclosure proceedings have been initiated. One might reasonably surmise that the foreclosure filing becomes the catalyst for the consideration of a short sale. If true, the increase in foreclosure filings could lead to a substantial increase in short sales.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s