Like our page on Facebook at Facebook.com/AltPDX We’ll be posting interesting listings, Portland happenings and news that relates to our homes and neighborhoods. We’re also there as a resource if you have questions, need to ask for a referral for a contractor or talk with others about what to do with a wet basement after a heavy Oregon storm.
This is an interesting article about the background of short sales and what the banks are thinking as they foreclose on homes.
“But hard-pressed homeowners like Lydia Sweetland are asking why lenders often balk at a less disruptive solution: short sales, which allow owners to sell deeply devalued homes for less than what remains on their mortgage.”
Read the whole story at The New York Times site.