Strategic Defaults: Are they good for the market? Right or Wrong? - 06/20/11 05:53 PM
Recent data suggests it would take banks in New York State 62 years to repossess the 213,000 houses now in default or foreclosure. In New Jersey, another judicial foreclosure state, it would take 49 years. Florida, Massachusetts, and Illinois would take a decade.  
Even though there are so many homes in these states--and in many others nationwide--in line for repossession, foreclosure cases are down nationally by about a third since last fall, according to LPS Applied Analytics. Does it seem like major lenders are strategically delaying the foreclosure process in order to get caught up? 
Perhaps the best explanation for … (0 comments)

What Percentage of All Home Sales will be Short Sales in the Coming Months? - 06/14/11 03:31 PM
What percentage of all home sales will be short sales in the coming months?
What about in one year? 40%? 50%?
Short sales rose from 17 percent in February to a record-high 19.6 percent in March. This is a chart that was included in the Housing Pulse Survey from Campbell Surveys and Inside Mortgage Finance:

Pay close attention to the sudden decrease in Damaged REO properties (red line) compared to short sales (blue line), which is drastically on the rise.
How would you interpret these results?
Are you prepared to handle the overwhelming demand for short sale expertise in the … (0 comments)

Lenders Can Detect Double Closings on Short Sales: The Solution? - 06/06/11 03:13 PM

Did you know that lenders can detect double-closings on short sale deals AND find out if a short sale property was sold again in the months following a closing? They can!
I was doing some research today on some of the latest short sale facts and trends and came across a research article with some great information:
 
The number of short sales has nearly tripled in the last eight quarters 23 percent of all mortgages in the United States have negative equity (upside-down) The number of short sales is expected to increase by another 25 percent in 2011 Here … (15 comments)

 
Jonathan Bowman (Short Sale Association of America)

Jonathan Bowman

Louisville, KY

More about me…

Short Sale Association of America

Address: Louisville, KY, 40243

Office Phone: 800378SSAA

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