Banks Accepting More Short Sales!

Liane Thomas — Fri, 05 Jun 2009 15:36:00 GMT

Did you know the Obama administration, through the Making Home Affordable program, is giving lenders and loan providers an incentive of up to $1,000 for each completed short sale? This is in addition to $1,000 to share the cost of paying any second-mortgage lenders to release their claim on the property. These incentives offered by the government, coupled with lenders wanting to reduce bad loans, are likely to increase the number of short sale transactions. "Without a doubt, lenders are more willing to work through short sales," said Andre L. Mitchell, the executive vice president of the Lynx Mortgage Bank. "In this marketplace if the lenders can negotiate in any way to get rid of a bad loan, they're going to do it." Banks may lose less money in short sales than in foreclosures, where banks may carry the house for a considerable period of time before selling it. Analysts believe short sales are often the best option, even for homeowners thinking about a new loan to save the home. "It's gotten to the point where people understand that sometimes you have to start over," says Mitchell. "A loan modification might help you in the short term, but sometimes what people need to do is get out completely."

Personally, we are seeing short sales getting approved faster, and the process is becoming easier than it has been in the past. We have been helping homeowners who are underwater since 2007. If you are a homeowner who is underwater, behind in payments, or facing a foreclosure, we'd love to talk with you. There is no obligation, and no cost to you. Thanks!

Brought to you by:
Liane Thomas, REALTOR(R)
Thomas Realty Group, Inc.
951.454.3805
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com

In Escrow! 6476 Avenida Mariposa in Indian Hills, Riverside!

Liane Thomas — Thu, 09 Apr 2009 16:54:00 GMT

Indian Hills, Riverside - We are pleased to announce the pending sale of the home at 6476 Avenida Mariposa, a 1,785 sq. ft., 3 bath, 4 bdrm 2 story. Now MLS® SALE PENDING $199,999. If you are thinking about selling, NOW IS THE TIME! We have more buyers and we welcome short sales, call for your FREE consultation.

Property information

4561 Warner Avenue in Huntington Harbour is Sold!

Liane Thomas — Wed, 02 Jul 2008 23:15:00 GMT

Huntington Harbour, Huntington Beach - The single story at 4561 Warner Avenue has been sold.

Property information

Market Update : just sold

Banks Accepting More Short Sales!

In Escrow! 6476 Avenida Mariposa in Indian Hills, Riverside!

4561 Warner Avenue in Huntington Harbour is Sold!