As predicted, short sale help will be needed even more as short sales skyrocket through to the end of this year. With the forecast looking at as many as 500,000 short sales approved by the end of the year, this is going to be a banner year for short sale help in every state. As banks and other lenders continue to grapple with the huge short sale market in 2012, the trend from the last five years of a poor housing market continues to affect home owners across the nation.
All indicators show that we can expect at least another four years of tough home sales and an even larger percentage of those sales will be as a result of homeowners requiring short sale help to close the sale. New federal programs that went into effect this past year have also contributed to the growth of short sale help generated sales. CoreLogic, a leading real estate data gathering firm, has shown an increase of short sale help requirements in 2012 by over 24% from the previous year.
Short Sale Help on Second Mortgages
One of the areas that the current federal programs are helping to relieve is when a homeowner has a second mortgage. In the past these have led to such a slow process for any kind of short sale help that most short sales have fallen through. But a recent federal program called the Troubled Asset and Relief Program guarantees second lien holders a minimum of $3,000 on any short sales that include second mortgages. This has allowed secondary loan holders to approve requests for short sale help from home owners. Another new element in the government program is for homeowners to receive $3,000 in moving and rent costs when they complete a short sale help program.
The last few years have seen short sale help requests on the rise, with 160,000 short sales in 2008, a little over an additional 100,000 in 2009 and the last year seeing a huge increase with 330,000 short sales in 2010. As the short sale requests continue to rise, a greater number of homeowners are finding it more difficult to negotiate a short sale with their bank or lender without getting short sale help from a specialist. One group of specialists who can help homeowners to navigate the treacherous waters of short sale help are real estate investors. They will buy your home directly as a short sale and allow the homeowner to complete the sale in a time frame that works for them. For many, this is the best of both worlds.
We Can Help You Today
SoldSameDay is just such a group. We are experienced real estate investors who have been buying using our knowledge of important short sale help from people just like you for years. We know that even careful people, good people with families can find themselves suddenly struggling to make their mortgage. You may find that getting some short sale help to sell your home is the best option for you. When you do, come by our site, fill in our brief form that tells us about you and your home, and let us make you an offer to buy your house for cash today.
Not ready to sell quite yet? That’s okay too. You can stay informed by visiting us on Facebook or follow us at Twitter. We believe that an informed seller is the best client, so stay on top of all the news and events that affect you as homeowner. Don’t be caught by surprise. Come by our site today and see how you can get the short sale help you need today by letting us give you cash for your home and quickly.
