Tuesday, November 3, 2009

Follow up to REOTrans soon to be Equator on Short Sales

According to CEO Chris Saitta, as of October 9th, REOTrans had 4,388 short sales in their system. For sure this number will skyrocket. As more and more banks who want to purge the glut of short sales through stream lined technology, will look at companies like REOTrans for help. The industry as a whole will benefit from transactions that are taking months, coming closer in line with traditional sales in the 30 day range. Buyers will also step up easier into that market when the grinding barriers to entry are lifted. Yes - that a bit heavy - but that's what it feels like sometimes!

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