Additional Government Help to Spur Home Sales?

In the past two weeks the Obama Administration has increased the focus helping that segment of the market involving short sales.

Specifically, the administration is acting as an intermediary between sellers and lenders by offering cash incentives to complete the short sale.

Also, there is an attempt to encourage junior lien holders (home equity lenders) to accept a reduced amount for settlement and allowing a short sale to proceed.

Whatever the outcome, I believe it will take at least two years, maybe three, for the inventory of short sales and foreclosures to be sold (to whomever). Remember, until we've had at least two quarters of increasing GDP, there'll be more homeowners losing their jobs and being forced into this situation.