Short Sale Program Will Pay Homeowners to Sell at a Loss

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Will this program be beneficial to helping our economy prosper?

Created by
Alexa La Ren Ivins updated 4 months ago
4 comments - Discuss

Absolutely! 33.33333333333333%

Not a chance! 66.66666666666666%

It's Possible 0.0%

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Alexa La Ren Ivins about 4 months ago

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Let me know your opinions! How will this prrogram help/hurt our economy?

Here is a link to the article: http://www.nytimes.com/2010/03/08/business/08short.html?pagewanted=1&;ref=todayspaper

Amy McDougall Lakhani about 4 months ago

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Absolutely!

I can already see the conservative crowd raising its fists and raising hell about this statement:

"And for the first time the government would give money to the distressed homeowners themselves. They will get $1,500 in 'relocation assistance.'"

But the truth is, the real estate industry is still a total mess, and something needs to be done to give our economy a boost. I've never been involved in a short sale, but I've heard they are almost always labor-intensive for all parties. Additionally, as the article mentioned, they are RIPE for fraud. However, as a last resort for borrowers who are in the hole and see no light, I can't think of another promising option than to offer this type of assistance.

Chris Pudlicki about 4 months ago

1 person liked this

Sounds like a bad Idea to me.

mitchell about 4 months ago

1 person liked this

Not a chance!

This would just be one more big giveaway and "bailout" consistent with socialism, not a capitalist country such as the USA. When will the current US Government learn that its citizens must learn to suffer the consequences of your own mistakes. When one buys a home for 3% or no $ down, they must understand that they are gambling that values won't ever fall! If they lose the bet they, not the taxpayer should bear the loss.

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