A short sale is a process where lenders let homeowners sell their properties for less than is owed on the mortgage loan.

In April, there will be new rules governing how lenders handle short sales. Short sales can help homeowners avoid foreclosure. Short sales also create great deals for home buyers.

Currently, the short sale process is incredibly slow. The process puts homeowners and buyers in limbo while the bank (and/or mortgage holders) decide whether to approve or decline the short sale.

The new rules coming out in April are aimed at speeding up the short sale process. These new rules could clarify the steps of the short sale process, but it's really unknown as to how much the new rules will speed-up the process.

Let's hope homeowners and buyers will see improvement in the speed and efficiency of the short-sale process!

We are seeing some great deals here at Montreux, and with other luxury real estate around the Reno area. If you would like to be contacted with information about these deals, please fill out my contact form. I will put you on my short-list of prospects looking for great deals for themselves, and for investments!