The Finish Line - Another Short Sale Closing - Prosper TX

By
Real Estate Agent with RE/MAX Dallas Suburbs TX Broker 0513551

Another short sale closed! The sellers avoided foreclosure, the buyers purchased a nice home at a discount, and the lender did not have the losses involved with a foreclosure.

The Finish Line - Another Short Sale Closing - Prosper TX

Many people feel that the nation's economy rises and falls with the housing market. While this is often true, we believe the current housing crisis is a direct result of the economic downturn and massive job loss across the nation.

In the Short Sale community, the vast majority of homeowners did not get a bad loan or buy more house than they could afford; they're just good, hardworking Americans who fell on bad times.

All indicators point to Short Sales being on the real estate horizon for the foreseeable future, at least through 2012, and maybe longer. Industry experts see another wave of distressed homeowners surfacing when the once popular Pay Option Adjustable Rate Mortgages (ARMs) begin to adjust in the coming months.

These mortgages allowed the borrower to essentially "pick a payment" that fit their budget in order to get into the house they wanted to purchase. These loans have the potential to negatively amortize and the rate will adjust upward - it's just a matter of time. Pay Option ARMs were widely used in California and will begin adjusting soon.

We encourage homeowners across the United States to get educated on the options available should they become financially distressed. Short Sales are a great tool, providing relief to all parties.

Just remember to choose a REALTOR® with a proven Short Sale track record to negotiate on your behalf. Making the right choice can mean the world of difference to your financial future.

Photo Copyright 2010 - Imaged2Sell

Source: ttp://www.thebranchteam.com/wordpress/2011/03/19/the-finish-line-another-short-sale-closing-prosper-tx/

Posted by

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Follow Us on Facebook          View Our LinkedIn Profile         

Copyright 2009-2013 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963
  

The Branch Team - Named Top Producers in Dallas by D Magazine

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Protected by Copyscape Web Plagiarism Tool

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Texas Collin County Prosper Gentle Creek
Groups:
Texas Real Estate
Short Sales Specialists
Collin County, TX Real Estate Professionals
Tags:
texas
tx
prosper
short sales
short sale

Spam prevention
Show All Comments
Rainer
25,386
Ryan Gale
Long and Foster Realtors - Rockville, MD

I have noticed that short sales are actually getting done more quickly across the country.  Perhaps the government actually was able to speed up the process a bit.  It is positively enraging to wait two months over every little change.  Times are a changing

Mar 19, 2011 06:26 AM #1
Rainer
26,203
Roger Davidson
DiSalle Real Estate Co. - Maumee, OH
Maumee, Ohio Real Estate

I am also hearing that short sales are becoming a little quicker and easier, just not the last one I had -- but we did close.

Mar 19, 2011 06:30 AM #2
Ambassador
1,377,728
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

CONGRATULATIONS TO THE BRANCH TEAM. Well done, Tom!

Mar 19, 2011 06:42 AM #3
Rainmaker
427,439
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

What a lovely home. I feel bad for the people who had to sell and move, but I am glad that you were able to help them avoid the longer-lasting difficulties from a foreclosure. Congratulations!

Mar 19, 2011 02:00 PM #4
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
525,700

Tom Branch

Broker, CDPE, SFR, ACRE, Plano TX Ambassador
How may I assist you?
*
*
*
*
Spam prevention

Additional Information