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Richmond Short Sales Will Get Easier!
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.
We expect a substantial increase in Richmond area Short Sales during the coming year and you can count on Skye Bruce Properties to lead you through this challenging home buying and selling process. We have an expert staff to help you understand the new Short Sale guidelines whether you are a buyer or a seller.
Contact Skye Bruce Properties anytime you have questions about buying or selling a Richmond area home. We will also continue to post content about Richmond area Short Sales here on our BLOG and on FACEBOOK and TWITTER.
