Short sales, REOs contribute wave of lawsuits

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An increase in short-sale attempts has resulted in an uptick in short-sale lawsuits, while the recent increase in loan-modification attempts could result in future litigation, according to a presentation at the San Diego Association of Realtors Expo earlier this month.

Additionally, the wave of bank-owned (REO) real estate sales in California has contributed to a rising volume of disclosure-related lawsuits.