Short Sale Your Home This Year

Short Sale Your Home This Year

Here are the 5 Reasons to Short Sale Your Home This Year. “Short Sale” is becoming the buzzword of the new decade. In the first half of the new millennium, we saw real estate gains come into the hundreds of millions and we saw it go. We saw workers with 40k salaries earn 100k in real estate; we saw an influx of previously only nighttime real estate gurus buying primetime slots between the Simpsons & LA Law; five people who hated the heat and sunshine properties right out in the desert here in Scottsdale. You can sell your home.

Sell Your Home This Year
Arizona; three more people owned second homes two blocks from where they lived, two people who couldn’t swim owned waterfront properties, and one person even forgot which city and state he bought his second home in! 5 Reasons to Short Sale Your Home This Year.

Now we are entering a new decade here sale your home and how the world has changed. high unemployment rates and lower wages; even yesterday’s CEOs are now taking your lunch order.

Foreclosures are currently winning the race in sale your home this year’s awareness department and right behind them is the elusive, slick “Short Sale”. While not everyone fully understands how a short sale works, how it benefits the average consumer or the differences in short sales by lender or state, almost everyone has probably heard the word by now. 2011 and beyond will be the “Decade of the Short Sale” and here are 5 reasons why:

HAFA (Home Affordable Foreclosure Alternative) Program:
The HAFA program (or as I have sometimes unappealingly called it, the HAHAHAHA program) is the government’s idea of ​​”helping”. I admit that if the program works, it’s great and I’m here to tout the benefits, not the flaws. Qualifying for the HAFA program puts you in a world of short sale heaven: moving expenses paid to you (yes, get paid to make a short sale your home!), fast response time by your lender, and an agreement from your lender not to sue you for any defect afterward. You can sell your home this way.

A great program, with excellent benefits, if you qualify. Not everyone does, but this should be your first question to your broker: “Do you know what the HAFA program is, and do you think I qualify?”

Failures in loan modification :
Millions were promised aid and favorable terms for a loan modification, but nearly as many millions were abandoned. The mind-boggling figure is that of the lucky few who did qualify for a loan modification, 50 percent of them will not make it through the program in the first six months. However, this will work well in the short sale’s favor – with so many people not qualifying for a loan modification.

But still willing to work with their lenders, it will mean an increase in the number of people willing to short sell their properties, and hopefully this will, in turn, motivate the lenders to staff their short sale department. Maybe they could spend Tuesday moving desks from the loan adjustment floor to the short sale floor…that’s my suggestion, take it or leave it.

Brokers Experts:
While this could go either way. I’m confident it will benefit consumers. When short selling first became common. Most brokers shied away; afraid of the unknown, afraid of the lenders. Afraid of the dreaded “short sale”. Now that they have become such a big part of the market, agents have had to abandon the property altogether or have been forced to learn more about the process.

Changes to lenders :
The lenders, banks, service providers, investors, etc. have all learned that these types of transactions do not go away.

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