Obama's Short Sale Plan Could Help Arizona Residents
2009-12-18
In trouble with your Mortgage and thinking about a short sale? Help is on the way. Everyone in Arizona knows how bad the market is and how it has effected real estate values, but it's good to see that help is on the way. Over half of the real estate transactions inPhoenix, Tempe, Scottsdale, Mesa, Chandler, and Gilbert are short sales. The Valley of the Sun has been hit hard with declining values and when people are forced to sell, you are going to have to seek professionals who deal with this process on a daily basis. With Raukov LLC we have the right people in place to negotiate deficiencies and help the bank realize that a short sale is more profitable than a foreclosure. A lot of the people I talk to are so fed up with the banks and are ready just to walk away! But that is probably one of the worst things you can do, hitting this issue now, and straight on could save you thousands and your new future could start today.
It talks about how the Government is noticing what is happening in today's market and like everything else they want to step in... Knowing how the short sale process works is one thing, but once you get pass all that they want to give back a little! And it looks likeShort Sales are here to stay! Here are some of the payouts: Homeowners who successfully complete a short sale under the program would receive $1,500 to defray relocation costs. Mortgage Servicers can receive $1,000 per case, Investors get $1,000, and Second-lien holders receive up to $3,000 from the sale proceeds. Now the plan was just outlined this month and will take some time to come into effect, but its worth keeping an eye on.
It makes sense since the investors are helping our economy by re-investing when everyone else is pulling out. They should get a little something rather than the run around from not only banks but upset homeowners. This could help point people in the right direction and realize that the American dream is down, but not out! There are options out there to help people... you just need to know where to look. It might be an embarrassing position to be in, but when 1 out of ever 4 home owners owe more than what their property is worth... you are definitely not alone. Imagine all the people in Arizona that could take advantage of this program?! Its just crazy, but its a start!
