80% of our Jacksonville Real Estate business has been short sales in 2010 and there is no signs of this trend slowing. Many home owners owe more than their homes are worth and after months of frustration in an attempt to modify the loan, they are turned to doing a short sale. (Short Sale is selling for less than is owed to the bank - the bank allows the short sale - You can read all about how to Short Sale).
Short Sales are Getting More Difficult
The process to get a short sale completed was the wild wild west in 2007, 2008, and 2009. It was chaos controlled only by outlaw banks. Now the suits have taken over and have attempted to put process in place in 2010. What has resulted is nothing short of massive red tape for all involved.
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