With Nearly One in Four Ohio Homeowners Underwater on their Mortgages, Brown Unveils Plan to Improve the Housing Market by Addressing “Short Sale” Transactions

WASHINGTON, D.C. – March 13, 2013 – (RealEstateRama) — With nearly 25 percent of Ohio homeowners underwater on their mortgages, U.S. Sen. Sherrod Brown (D-OH) unveiled a plan to improve the housing market by addressing “short sale” transactions. Short sales are real estate transactions that must be approved by the bank because the seller owes more on his/her mortgage than the proposed sale price. Brown’s bipartisan legislation