Carlos Ring

Embrace Short sales

Mon, Jun 21, 2010 at 3:30PM

 A word from the CEO of Equator. This new system is stream lining the entire process.  

If you haven't already, it’s time to embrace Short Sales!
The amount of Short Sales initiated through Equator this year is more than twice as high as REOs. On average there have been 55,000 Short Sales initiated through Equator per month compared to an average of 28,000 REOs. In the past, Agents shied away from Short Sales because they took so long. A year ago, the average time to complete a Short Sale was over 6 months. Equator has dramatically improved that time by automating the process and bringing everyone together in a safe and transparent environment. To date, over 150,000 Short Sales have been initiated through Equator. The average time from initial contact to receiving closing funds is just over two months. There was one Short Sale in Florida that had a BPO, two rounds of offer negotiations and an investor approval all completed in 9 days! Amazing! Short Sales are a great solution that Equator has made quicker and easier.

Thank you,
Chris Saitta, CEO Equator.

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