How to rescue the housing market: Foreclosures!
August 31, 2011: 5:27 AM ET
NEW YORK (CNNMoney) — If the Obama administration really wants to save the housing market, it should speed up the foreclosure process — not prolong the inevitable, experts say.
Four years into the housing crisis, the real estate market is still teetering on the edge. The Obama administration has tried one program after another to stem the tide of foreclosures with limited success. And it is continuing to look for ways “to ease the burden on struggling homeowners,” though no new initiative is imminent, the White House said this week.
This is always a hot topic, the fact is the sooner we get through all the troubled mortgages the sooner we can recover. This article illustrates how we need to speed up the foreclosures but doesn’t talk about expediting the short sale process. Both ways will get us to a recovery but the short sale is the preferred method for many different reasons.
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