More Bank Closings Can it effect Preforeclosure Short Sales?
Wow, did you hear that US Bank laid off 3000 people in their investment banking division today? The banking situation keeps getting worse. Is this good or bad for preforeclosure short sale buyers and sellers?
That's not necessarily bad news. That means they will have to hire somebody else to fill some of those jobs and there's more short sales out there to buy.
There are people out there with money and you can be one of them. Buying at deep discounts in todays' market is the way to go. And rest assured, the banks that are left will be selling off properties by the end of the year.
If you've got short sale deals with banks and are waiting and waiting for them to get back to you with an answer, be prepared because I predict as we get closer to the end of year the banks will have a lot of deals that they want closed by Dec. 31st!
Be lining up your private lenders and have lots of cash on hand. You'll have a lot of houses to get closed by the end of the year and speed makes for better discounts!
Deb
That's not necessarily bad news. That means they will have to hire somebody else to fill some of those jobs and there's more short sales out there to buy.
There are people out there with money and you can be one of them. Buying at deep discounts in todays' market is the way to go. And rest assured, the banks that are left will be selling off properties by the end of the year.
If you've got short sale deals with banks and are waiting and waiting for them to get back to you with an answer, be prepared because I predict as we get closer to the end of year the banks will have a lot of deals that they want closed by Dec. 31st!
Be lining up your private lenders and have lots of cash on hand. You'll have a lot of houses to get closed by the end of the year and speed makes for better discounts!
Deb
posted by Deb at 6:27 PM
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