Wednesday Feb 15, 2012
"The Foreclosure Crisis May Be Coming to an End"
Do you believe foreclosures are fading? According to research by CoreLogic, "Foreclosures decreased by 8.4 percent--or 130,000--in 2011." "The pace at which properties are entering foreclosure is slowing," Mark Fleming, chief economist with CoreLogic, told CNN.
Janet Naisbitt-Bagley believes she may have learned the reason in recent training classes held by HomeSteps/Freddie Mac and also Chase Bank. Lenders apparently are gearing up to do more loan modifications, short sales, and etc. rather than jumping to foreclose.
Fleming further notes, "this is the first time in a year that REO sales [those of bank-owned properties] have outpaced completed foreclosures." To view the original article: realtormag.realtor.org/daily-news/2012/02/09/foreclosure-crisis-finally-fading.
If you want to stay in your home but are having a difficult time making your payment, now would be a good time to contact your lender and see what options are available to you in order to avoid losing your home to foreclosure. Even if you got negative results in the past, you may want to try again and see if your lender's policies are more helpful now. If you must sell your home and you owe more than you can sell it for, your lender may be more willing to discuss options available to you such as a short sale or deed-in-lieu of foreclosure.
For help with all of your real estate needs, please call Janet Naisbitt-Bagley and her team of experienced, professional, trained assistants at 435-865-1019 or email naisbitt@infowest.com.
Janet Naisbitt-Bagley at ERA Realty Center would love to help you make your real estate goals and dreams a reality. Check out the gorgeous homes available for sale including foreclosures, HUD homes, short sales and homes priced-like foreclosures at www.homesincedarcity.com.
Posted at 04:07PM Feb 15, 2012 by Janet Naisbitt-Bagley in Real Estate | Comments[0]
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