According to John Vella, COO of Equator, short sales will remain strong for the next several years. Said Vella, “Short sales will be very prominent over the next 2-3 years as foreclosure inventories increase and remain somewhat stagnant. The elongated foreclosure timelines coupled with improved processes and technology will lead to more short sales closing.”
Equator reports some 775,000 real estate agents handling an average of 250,000 transactions per day access its platform.
New federal regulations that took effect April 10 are expected to add to the interest in short sales by removing barriers involving second liens.
Read full article>>Short Sale Forecast