Banks are soliciting underwater homeowners and offering CASH to negotiate a SHORT SALE . . .
It is about time that the banks start figuring out to stop this real estate crisis. Over the past 2 years banks have been focusing on REO's and foreclosures. Losing lots of money, most of the major mortgage banks are focusing on short sales as the first line of defense to avoid foreclosures.
Now that home values are double dipping…forcing literally millions of homeowners underwater… mortgage banks are aggressively soliciting underwater owners offering..CASH AT CLOSING…NO DEFICIENCY JUDGMENT short sales. Read the article from yesterday on Chase’s short sale out reach program where by owners are being paid $10,000…$20,000…$30,000+ to do a short sale.
Worth repeating…owners who are NOT missing payments and ARE underwater…are being contacted NOW by their mortgage servicers (banks) offering a way out. That way out is a short sale. The real estate community needs to recognize that the banks are initiating the listing or selling process.
Homeowners who are underwater now have options. Rather than walk away, contact your mortgage lender or a local real estate short sale expert.
We have helped many Kansas City homeowners avoid foreclosure. Need help, lets talk . . .
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Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty
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