Realtors in MN educate sellers on foreclosure prevention
Minnesota Realtors are becoming more of a factor in preventing foreclosures in Minnesota than anytime in history. With the surge of homeowners underwater on their mortgage, many sellers are unsure where to turn or how to handle their situation. Over the past couple of years agents have continued to realize the tremendous need in this segment of the market, and many have reacted by increasing their level of eduction in the forelcosure prevention arena.
Short Sales are the preferred method
MN Short Sales have been increasing by the month, while foreclosures are seeing a decline. The main reason for this is Realtors educating their clients. Many sellers have now realized that a short sale not only can save them from foreclosure, but can also help the rebuilding of their credit record in the long run. When explained properly the decision to do a short sale vs. walking away, and allowing foreclosure is an easy one.
Home values will stabilize
Instead of a bank selling a property for 60 cents on the dollar, a short sale will often bring 90 cents on the dollar, thus preventing neighborhood nose dives in value. Early on in the foreclosure crisis, it was not uncommon for one or two foreclosures to cause a rapid decline in values making all homeowners suffer losses in equity.
For more information on doing a short sale call 952 943 1324 or visit www.minnesotashortsaleteam.com
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