short sale newsEach and every week, there are things going on that impact the short sale business. Sometimes there are big changes to federal and state policies that impact short sale processing and the distressed property world. Other weeks, there is news about government programs for distressed borrowers.

Read below to learn about some of the interesting stuff that went on this past week in the distressed property arena:

One Million HAMP Modifications  Wildly ironic but not unexpected, there are about 1,000,000 failed loan modifications and about 1,000,000 that made it through the trial period. And, of those that made it through the trial, only about 825k are still active. Read more of the stats in this article.

Surprise Refis from Chase – Lucky Ducks Lucky owners of Chase mortgages may receive a surprise in the mail—an offer to refinance the home at a lower interest rate. Read more about it and rub Buddha’s belly. Maybe you will get a letter, too.

Another Stimulus Plan Here’s another stimulus plan that may or may not get our economy on the mend. However, with the increase in market values and the real estate market being heavy with buyers, I’d say that the economy might be beginning to recover without another plan.

There’s lots going on in the distressed property arena. And, if you are actively working with ‘distressed’ borrowers, it’s important to keep up with all of the changes in the industry. Sometimes that’s hard, which is why I’ve provided you with a weekly recap right here.

 

Melissa Zavala 
BROKER/REALTOR® ● CA DRE #01324959

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8 Comments on Weekly Short Sale Roundup - One Million Loan Mods?

SEP
23
568,450 Points 26 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I love your weekly roundups, it's where I can rely on getting the most current info on what's going on in the short sale world!
6:59am • #1
1,048,042 Points 396 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

The article about the Chase loan mods really reiterates why it is so important to open all correspondence form the lender.  Never assume it's just another collection attempt.
7:10am • #2
465,928 Points 8 Featured Posts Outside Blog Called Shot Master

Good post Melissa. Short sales scare me and from the stories I hear; I really don't think I have the time to work with one. If I get a customer who wants to buy a short sale I forward the customer on to another Realtor who I know are versed and don't mind doing them.
7:51am • #3
1,583,790 Points 429 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Melissa

I awlasy enjoy the updates to stay informed with what's happening in the short sale arena. I echo BB's comments about opening your mail. You never know what you might miss.

Jeff
9:41am • #4
158,040 Points 2 Featured Posts Called Shot Master

Thanks for the weekly updates. I even get your e-mails. It makes staying on top of the news and trends so much easier!
12:54pm • #5
645,916 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I do alot of short sales and like your blogs. They are right on target !
2:38pm • #6
SEP
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471,130 Points 26 Featured Posts Localism Sponsor Called Shot Master

Melissa, thanks for providing more very useful information.   I thought- wow, how many people didn't even bother opening the letter from Chase?!
8:58pm • #7
SEP
26
215,099 Points 2 Featured Posts Hit Router Called Shot Master

Thanks Melissa for the information, I have been working with so many homeowners who are finding the out that Loan Modification are not working out for them.
11:34am • #8

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Escondido Real Estate - North San Diego County Homes

Melissa Zavala, Broker

Escondido, CA

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