short sale: Home buyer satisfaction highest with short sales, survey reveals
- 02/04/12 11:51 AM
Homeowners who buy short sales are the most pleased with their purchases, according to a nationwide survey released this week. Eighty-three percent of homeowners who purchased a short sale were happy with their decision, topping satisfaction levels of all other types of purchases, the study showed. Every respondent who was satisfied said price appreciation was the No. 1 reason. Online real estate marketer HomeGain surveyed 1,400 families nationwide to gauge their satisfaction with home ownership. Overall, 72 percent of homeowners were happy owning a home. “… In spite of declines in the values of homes nationwide, satisfaction among homeowners remains high … (0 comments)
short sale: Loan Mods on Decline as Banks Opt for Short Sales
- 01/31/12 07:19 AM
Loan modifications appear to be on the decline as banks turn to short sales and other alternatives to clear out the backlog of defaulted loans. Moody’s Investors Service reported this week a decrease in successful loan mods and a high failure rate for successful modifications in the third quarter of 2011. Ocwen had the highest “cure rate” for modifications of subprime loans, at 44 percent, Moody’s reported. But those statistics include “a significant number of re-modifications” for borrowers who defaulted on a previous modification. More than 54 percent of Ocwen’s modifications on subprime loans failed. Bank of America reported defaults on … (0 comments)
More than 25% of homes in the United States have negative equity. Foreclosure Season is expected to peak in mid- to late 2012, so the problem will only grow.
Many of our friends and clients in this situation are afraid and embarrassed. But they shouldn't feel that way. Everyone knows someone facing this problem. The key to alleviating the problem is knowing what to do, and then taking action.
We are Real Estate Professionals committed to helping people in just this situation find relief through any of the 10 alternatives to foreclosure. In this forum, we'll help guide distressed homeowners through the crises and into peace of mind.
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