Government Pushes Lenders for Short Sales
March 10, 2010 by admin
Filed under Blog, Government pushes lenders towards short sales, Short Sale/Loan Modification Blog
In 2009 the Treasury Department was pushing lenders towards loan modifications. In 2010, the government has built a program that will entice homeowners and banks to short sell these homes. Short sales have become a growing trend in 2010 and will continue to be well into 2011.
Wells Fargo has hired more than 8,000 employees since the start of 2009 to deal with many of the default issues that homeowners are facing. Even though it is premature to state whether or not this new program will work, it gives everyone a little hope. All banks have already seen an increased interest in short sales over the past couple months. Only time will tell if this new government program will help solve the monumental problem we are facing. Short sales seem to be the best answer at this point.
