Banks Take Losses on Short Sales as Foreclosures Soar
Banks Take Losses on Short Sales as Foreclosures Soar
Banks are beginning to go along with short sales in increasing numbers, three years into a U.S. housing slump that pushed the economy into a recession and cut resale values by 30 percent from the peak in July 2006. Short sales almost tripled to 40,000 in the first six months of 2009 from the same period a year earlier.
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posted by Victor Lloyd Smith @ 10:09 PM
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