Here is a link to an article written in Business Week:
This article talks about the death of short sales. There is some information in the article about OneWestbank and what has been happening according to some agents since Soros and Dell put their money up for OneWest.
We did just get a closing approved from OneWest and FDIC last month without any deficiency and no promissory note or cash contribution from our seller. But our seller did have a serious medical hardship and he is an attorney whose income fell because of his illness.
We need to keep pressure on to be able to have the banks play ball on short sales. It is far better for our economy and communities to close on short sales over foreclosures. Short sales also sell for more money than foreclosures.
Please write to your congressmen and woman, let them know what is going on in the real world, where you live and work. Thanks! Katerina