Here we are, just about half way through 2012. For some home sellers that means opportunity. The spring selling season is in full swing and summer is just around the corner. For others it signifies the sands of time dropping away day by day as we near the deadline of the federal tax protections on forgiven debt (Mortgage Debt Relief Act of 2007).
In a previous post I blogged about the average time it takes to market, list and sell a home through short sale. If you were to lay that time table over the remaining months of 2012 you would quickly see that we are at the tipping point.
Recently, the government’s Making Home Affordable programs were extended through the end of 2013. This is great news for those that qualify for a modification or refinance or even a short sale through the government’s HAFA program. However, after 2012 where does that leave everyone else that doesn’t qualify for one of these programs?
Holding a huge liability, that’s where.
If you are a homeowner that needs out of their home but you don’t know all of your options, please call and talk with a trusted real estate professional. In California, of the 2 million homeowner’s that lost their homes to foreclosure in 2011 only a third of them reached out to a professional for help.
Please don’t be a statistic. Ask for help and guidance early to access the most options available to you.
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