many of the large banks have re-instated a foreclosure moratorium on occupied homes. this means (or should mean) that banks are going to attempt to help the homeowner stay in his/her home. This will add to the already current lack of inventory, (yes can you believe it) its time to force banks to clean up their balance sheets by dealing head-on with the trillions in negative equity that remains, either though loan modifications that reduce principal balances to near current value, short sale, or, if necessary foreclosure. These are the only solutions that deal with the core problem of negative equity. It’s time for “extend and pretend” to end.
with that said, banks are 'eager' to short sale homes vs foreclose on them. some are now giving homeowners moving money at the closing table. there are alot of myth-understandings regarding short sales and how or if someone will qualify. its is always best to speak with more than one authority to ensure you are getting all the best info and advice. I would like to be one of your resources in 2010.
Contact me directly at
Certified Foreclosure Specialist CFS
REO Default Certified Professional
Keller Williams Integrity First Realty
2836 North Power Road Suite 114
Mesa, Arizona 85215
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