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: The Home Equity Theft Reporter

Collapsing Short Sales Contribute To Continuing Flow Of Foreclosures

By r morris

USA Today reports:Scores of homeowners who thought they'd cut a deal with their banks to sell their houses for less than their unpaid mortgages are seeing those agreements fall apart months later, contributing to the mounting foreclosures that threaten the housing market's recovery. The sales of homes for less than the amount owed the bank, known as "short sales," have been widely viewed as an

Full post as published by The Home Equity Theft Reporter on August 11, 2009 (boomark / email).