Real Estate and Short Sales2 min read

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test306I was chatting with a friend on Facebook today and he made a few comments on the recent packages being offered to Homeowners courtesy of our government. Here are his options and if you would like to learn more about this situation feel free to contact Earl. He has been in real estate for quite some time and has vast experience with what is best for the hard-working homeowner. His comments to me:

 

By the way, I’ve been doing a little research on short sales and it seems like there is a lot of misinformation out there. Some people looking to get rich off of home owners who don’t know any better. I read the outline of the President’s plan and they want to offer incentives to approach loan modifications for owners who are in trouble. Lenders who have received federal money are required to approach a workout. But what I’m hearing is many of the “experts” are advising people to quit paying and not to bother talking to their lenders. I believe that all of us in the business have an affirmative duty to put the clients needs before our own. We can’t provide loan modification services but we should be advising people to approach that first. Only if a modification can’t be worked out should a short sale be considered. Obviously, there’s no commission if the borrower manages to keep the home. Please let others know a short sale is considered a charge-off and it is not an easy solution.

 

Earl, I’ve done my part to let others know. If you wish to contact Earl and ask more questions on your current situation, his web site is:

 

 

Have a great week, everyone and keep up that frugal living.

 

Wishing you abundance,

 

Janine

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