Category Archives for "Short Sale versus Loan Modification"
LPS Data Shows GSE Foreclosure Starts Are Accelerating Fannie Mae and Freddie Mac are beginning to initiate foreclosures at a faster pace. According to a new study from Lender Processing Services (LPS), GSE foreclosure starts have been accelerating and are currently at all-time highs. From May to June, foreclosures initiated by Fannie and Freddie jumped […]Continue reading
Many distressed homeowners were excited to learn of new beneficial goverment programs designed to keep their homes out of foreclosure. With over $50 billion allocated to bailout the mortgage program, there are still only 1 of 10 people getting the mortgage modification necessary to keep their home. Rising foreclosure rates will continue to force down home prices. With almost half of Charlottes homes being sold proced under $150,000 these effects are hitting close to home. After learning if you are eligible for a modification, it is important to consider the option of doing a short sale. This keeps the number of foreclosures off the market and will help keep home prices up. For more information on Short Sales in Charlotte, NC, contact Showcase Realty.Continue reading
Recent legislation encourages loan modification in an effort to decrease the number of foreclosures. If you are meeting with homeowners, see if one of their goals is to keep their home. The new rules on loan modification provide relief for people who have had financial difficulty, but remained current on their payments. There are also […]Continue reading