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HouseRebate.com targeting banks with short sale program.

Publication: San Diego Business Journal
Publication Date: 26-JAN-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
As the housing crisis enters another calendar year, local online discount brokerage HouseRebate.com believes lenders may be more willing to approve "short sales" by delinquent homeowners.

Through its new short sale program, HouseRebate.com will identify homes in default, strike a deal with the homeowner and market the property on various Web sites and the region's Multiple Listing Service.

In a short sale, the owner sells the house for less money than what is owed to the bank.

If HouseRebate.com finds a buyer, it will negotiate with the bank by packaging the offer along with the seller's financial...

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