The Real Deal Miami

Realtors have mixed opinions on short sales

December 22, 2008 10:58AM

Short sales, in which a mortgage lender forgives some of a homeowner’s
debt, have become more popular in this housing market. But South
Florida realtors have mixed feelings on the practice, the Palm Beach
Post reported. Some say short sales are keeping them in business while
other deals aren’t getting done. But others say contracts and
commissions can disappear in short sales as lenders take months to
approve them.