Archive for » December, 2009 «

HAFA – The new government incentive for short sales

29
Dec 2009
by Michael-Edward Cruz, California Real Estate Broker. Have you heard? The government is trying to motivate lenders to avoid foreclosure. According to statistics the sister program HAMP has been able to help about 9% of homeowners in trouble. Yes I said 9%, I think the average Realtor has been able to short sale about 20% without the extra help. We have been able to close about 95% of our short sales because we understand the process. And in my case 95% was never a number I thought was even possible. It took hard work and perseverance but I made it. I believe short sales have been an [ ... ]
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Will 2010 be the year of Recovery?

28
Dec 2009
According to some experts 2010 is set as year of recovery, largely in part to lender participation in short sales. According the the article, “At the start of the foreclosure crisis, she says, banks accepted about one in every 10 offerings on short sales. But as the crisis worsened, the number of short sale homes closing in escrow has improved to one in every five homes.” “Banks realize they typically are better off to close a short transaction than go through foreclosure,” Michael-Edward Cruz and Troy Huerta have been working on short sales transactions since day one and they have been able to work with [ ... ]
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Are banks finally realizing that Short Sales are Better than Foreclosures???

23
Dec 2009
We have been working for years trying to convince lenders that it was in there best interest to accept short sales. We have saved many people from the damaging affects of foreclosure on the record. If lenders do take a more proactive approach to short sales then we will be able to help more people than ever before. Michael-Edward Cruz Short Sale Broker Southern California 951-572-2789 michael@usbrinc.com
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