Gretchen Morgenson: Her Condo Was Sold, Until It Wasn't

Categorized | STOP FORECLOSURE FRAUD

Gretchen Morgenson: Her Condo Was Sold, Until It Wasn’t

Gretchen Morgenson: Her Condo Was Sold, Until It Wasn’t

Fair Game-

HORROR stories abound across Foreclosure Nation. But once in a while, a new one comes along to remind us just how dysfunctional our mortgage market is.

Chaos and conflict rein over many mortgage workouts. Until that changes, housing will struggle.

The case at hand — and it’s a whopper — involves a short sale on a condominium in Deltona, Fla. Short sales are transactions in which a bank and a borrower agree to sell a property for less than the amount owed on the mortgage.

While loan modification programs have received the greatest push from the government, short sales are crucial to cutting the inventory of foreclosed properties. And yet they are far less common than deals like loan modifications and forbearance plans that let people retain their homes.

[NEW YORK TIMES]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8684 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives