I met with maybe 14 of our realtors in Rhode Island a couple of months ago. Every single one of them had the experience of a short-sale agreement with the bank pending, and in the middle of it, another part of the bank whacked them with a foreclosure notice, blew up the short sale, and it ended up going into foreclosure inventory for way less than the short sale that the bank had itself agreed to. I mean, it is nutty out there.
Discussing the chaotic foreclosure process affecting real estate transactions.
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