CNBC - Homeowners advised to turn to short sales and loan modifications

First time home buyers, investors, and organized property flippers
currently make up the majority of those active in the housing market.
However, Pete Flint, CEO of Trulia.com, cautions the first time home
buyers that are looking to benefit from low interest rates and low
prices of foreclosed homes. I would recommend working with an
experienced foreclosure expert and doing research before purchasing a
foreclosed home, he said. Instead of foreclosing, Howard Glaser,
president of the Glaser Group recommends short sales and loan
modifications. He believes the Obama administration is going in the
right direction with passing loan modification measures because they
will help the three things necessary for recovery; a stable economy,
stable credit, and a stable inventory.Short sales are another good
way to put the right person in the home and get the lender out from
under, said Glaser. But CNBCs Diana Olick expressed skepticism in
turning to short sales in lieu of foreclosures. Short sales are
beginning to take as long as the foreclosure process, which at this
point are quicker than they ever have before." For more information please click on the link provided: http://www.truliablog.com/2009/05/20/trulia-ceo-pete-flint-on-cnbc-talking-ab...

Category:

News & Politics

Tags:

• CNBC
• Pete Flint
• housing market
• the real deal
• short sales
• real estate
• loan modifications
• trulia.com
• howard glaser
• Glaser group
• diana olick