Archive for March, 2008

I don’t know about you, but presently I am negotiating short sale transactions in which the homeowners have not made payments for almost a year. The most interesting thing is that these clients are not yet in foreclosure. As you know, I am in Portland, Oregon. In Oregon, the foreclosure process lasts 120 days. This means that if the creditors start foreclosing today, these homeowners will have at least one third of a year to live at the property for free. Banks must not want to foreclose!

As you already know, I present the Short Sales A-Z seminar all over the west coast. Many of the investors and agents who attend my classes have noticed the same. This is something new. Last year, banks would have started foreclosing right away. Nowadays, it is very common for creditors to wait almost a year to actually begin foreclosure.

Friends, today I got some information that I am sure you would like to see. Since you are into short sales, I am sure you will be interested in this. Make your own conclusions.

When I started in real estate, I was always looking for a short sale. Sometimes when it rains, it pours. It seems that now short sales will be looking for me. This information comes courtesy of Rapid Foreclosure Data – www.rapidforeclosuredata.com.