House Swapping — homeowners get creative as sinking demand for the houses continue

“House swapping” joins to the list of innovative sell/buy strategies in troubled housing industry in US.

How does house swapping work?

http://www.abcnews.go.com/GMA/story?id=4322684&page=1

ABC News: Trouble Selling Your House? Try Swapping It via kwout

Sub prime mortgage crisis made many houses face foreclosures. Almost all big banks wrote down billions and billions of dollars absorbing all the losses of sub prime crisis. Economists warn that more danger is yet to come in fall of this year as many ARM mortgages are up for renewal and financing conditions put forth by lenders are becoming stingier day after day. Selling a house in this kind of market requires creativity. The last trend that impressed me was article about woman raffling off her home to avoid facing foreclosure.

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Posted by Kalyan on Feb 22nd, 2008 and filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0. You can leave a response by filling following comment form or trackback to this entry from your site

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