Loss Mitigation

Housing Recovery is Spelled R-E-O 

Short sales are a hot topic right now—especially with a much-ballyhooed government program focused on short sales, the Home Affordable Foreclosure Alternatives program, about to come online. But in the end, the real key to resolving the problems that yet remain in housing is likely to come back to an old standby: REO property sales. Yes, really. But to understand why, you’ve got to first really understand the scope of the mortgage default problem we’ve now got.