Experts Anticipate Short Sale Market Peaks in 2012

As the Mortgage Forgiveness Debt Relief Act of 2007 expiration date approaches in a matter of months, experts anticipate that large numbers of homeowners, mortgage bankers and potential buyers will be racing to the closing table to finalize short sale transactions before 2012 ends. Indeed, according to Realtytrac, “109,521 properties were sold in pre-foreclosure” in the first quarter of this year. “That was a 25 percent increase from the same quarter the previous year and a three-year high.” Linda Stern provides short sale advice to sellers and buyers looking for a good bargain:

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