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Mortgage Lenders Are Shifting Away From Short Sales

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“After a surge in short sales in late 2011 and early 2012, the favored disposition method for distressed properties is shifting back toward the more traditional foreclosure auction sales and bank-owned sales,” said Daren Blomquist, vice president at RealtyTrac. “The combination of rapidly rising home prices – along with strong demand from institutional investors and other cash buyers able to buy at the public foreclosure auction or an as-is REO home – means short sales are becoming less favorable for lenders.”

source: Mortgage News Daily

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Chad VonHoven has written 12 articles on Real Estate Financial – Get a fast qoute

Chad VonHoven has been involved in commercial and residential mortgage lending for greater than 10 years. He is a graduate of Georgia Tech and an accomplished Airline Transport Pilot.

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