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Short Sales Cost Lenders $310m More Than Necessary, CoreLogic Study Finds

The estimated $375 million in losses for 2011 is up more than 20% from $310 million in estimated losses for 2010. As part of the study, CoreLogic examined more than 450,000 single family residence short sales completed in the past three years.

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In fact, more and more lenders are beginning to view short sales as a viable option for loss mitigation, helping them to curb losses and recuperate as much of their investment as possible. Some banks are even beginning to provide homeowners with incentives to go through with a shortsale rather than waiting to go through the foreclosure process.

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With a Short Sale you can qualify for a new home loan in just 24 months. In fact, some of our clients have qualified for a new home loan in a little over a year from the date the short sale closed. If you qualify for a HAFA Short Sale your Lender or Service Company will give up to 4 months to find a buyer and close escrow.

When excluding distressed sales, such as short sales and REO transactions. found a reversal in the sentiment of U.S. lenders, with expectations for loan repayments more upbeat in the first quarter.

Australia’s real estate plunge is now worse than it was during the late 1980s with house prices falling at an even more. CoreLogic head of research Tim Lawless said the Australian Prudential.

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In response to this proposal the Board received approximately 6,000 comments from creditors, mortgage brokers. of terminology used to describe fees. Some lenders charge more third party closing.