The Long And The Short Sale Of It | Hoboken

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So there has been some excitement going around the Hoboken Real Estate community regarding the new government sponsored streamlined short sale process. The document is 43 pages long!!! It’s supposed to cut the answer time from weeks, months, years to 10 days. Now it seems to me that if the government gets involved it should; take more time not less. But if it does take less then why won’t the banks already do it. That’s the $64,000 question!

Here’s the fine print…Banks don’t have to participate and if they do they don’t have to start until April 5th, 2010. Right about the time you are settling in to watch Ohio State take on Kansas in the NCAA championship, the program will kick off. What the banks do during the regular season and March madness is anyone’s guess. My advice for Hoboken homeowners in a short sale situation, win your office pool and pay off the taxes on your condo.

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