The Short Sale Gamble

The foreclosure is only one type of distressed home sale that's been on the rise since the housing bubble began to burst in late 2007. The short sale has also been gaining popularity. As NBR's Erika Miller reports, short sales often come with both attractive prices and unattractive risks.



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External Links/Articles*

• Decker, Decker, Dito & Internicola, LLP
  Decker & Decker is a New York-based law firm. It's practice areas include real estate and mortgage banking law. One of the firm's attorneys, Stephen Decker, is interviewed in Erika Miller's report.
• "ForeclosurePulse"
  ForeclosurePulse is run by RealtyTrac, a housing marketplace "for homeowners, investors and real estate professionals." One of its main services is foreclosure listings. This links to January 3, 2008 entry published in the blog. The entry is titled, "New Tax Law Spurs More Short Sales, Expert Says. The entry explains the impact the Mortgage Forgivemenss Debt Relief Act has had on short sales.
• Mortgage Forgiveness Debt Relief Act of 2007 (PDF Document)
  The text of the bill signed into law by President Bush in January 2008. Tax law changes the law included have impacted short sales.
• National Association of Realtors (NAR)
  Lawrence Yun, Cheif Economist for the National Association of Realtors, is interviewed in Erika Miller's report. This links to a handout the NAR created for potential homebuyers. The handout is titled, "Making an Offer on a Short Sale? What You Need to Know."
• "Short Sales Long on Value"
  This is an informative article published in The Orlando Sentinel.
• "Where Short Sales Stumble"
  This is an informative June 15, 2008 article published in The Washington Post.

*Clicking these external links will take you off the NBR web site on PBS.org. NBR has no affiliation with these sites.