Obama Administration releases Short Sale plan

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The Obama Administration officially released the full details of its plan to encourage Short Sales. Basically it gives your seller $1,500 to cover movingĀ  expenses. (The banks get $1,000 for each Short Sale they approve.)

To read the the Wall Street Journal’s article, click here.

I would also recommend you take a look at the Treasury Department’s full outline of the program’s guidelines. (Click here to download the PDF) as it’s pretty simple to follow and there’s a lot of good stuff there for Short

Sale investors to know.

One key point is that the Treasury’s guidelines state that the program officially starts in April 2010 but that the banks can start implementing the program right away if they choose!

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