- Is the system clogged? YES!
- Other than "bad loans" --- What can we blame it on?
Blame it on the.... Voluntary moratorium of foreclosures: While banks were taking a "time out" or "quiet time" to
work on meeting the requirements of the Making Homes Affordable program and/or by state rules requiring mediation before banks could start the foreclosure process.... meanwhile back at the ranch -- more defaults, more short sale signs were going up and eventually more foreclosures(bank owned properties/REOs) -- to add to the pile.
Using the largest of the banks that is highly involved in the Making Homes Affordable -The one that stepped up one of the first to buy into the Making Homes Affordable program-
Bank of America! - it is estimated...
- That from 11,000 to 14,000 homes are being taken back by Bank of America - a MONTH!
- That those numbers will increase to 29,000 to 35,000 by November/December this year!
- Folks that's in a month's timeframe. That is a lot of homeowners losing their homes!
So whether is it phantom inventory or just plain clogged --- somebody is going to be real busy this year... and lots of people are going to lose their homes (whether its foreclosure or Short Sales... the numbers are high).
The flood gates are going to have to open up soon - and it ain't gonna be pretty! Blame it on the _______?
*************************************************************************
The Mother and Daughter Realty Team
Rosemary Brooks (DRE # 01336351) Realtist, CDPE, HRC, CDSP, REO & HUD Certified
D'Adrea Davie (DRE# 01510971) Realtist, CDPE, HRC, CDSP, REO & HUD Certified
EMBARCADERO INVESTMENTS - the Real Estate Company
Ofc: 866-543-0461 Msg: 209-910-3706 Fax: 209-762-6971
EMAIL: motheranddaughterrealtyteam@gmail.com /
REO Website: www.centralvalleyreos.com
WEBSITE: www.motheranddaughterrealtyteam.net
Short Sale Website: www.shortsales-HAFA.co
Do you need a Central Valley Short Sale Specialist? If you have any questions or would like to discuss any real estate related issue please contact the Mother and Daughter Realty Team at (209) 910-3706 or complete our Contact Form.
Rosemary Brooks & daughter, D'Adrea Davie - The Mother and Daughter Realty Team specializes San Joaquin Central Valley, Stockton real estate, Homes for Sale, Housing: Stockton short sales, Lathrop short sales, Tracy short sales, Manteca short sales, Lodi short sales, Mountain House short sales, Salida short sales, Ripon short sales and Modesto short sales.
ATTENTION CENTRAL VALLEY HOMEOWNERS:
We can help you with a Short Sale if you are in a situation of
*Pre-Foreclosure *Hardship *Job Lost *Reduced Income *Divorce *Upside down on Equity *Can't afford Mortgage *Unexpected Medical Expenses * Can't Refinance * Failed/Denied HAMP Loan Modification * Other
Some of the BENEFITS OF A SHORT SALE
*Avoid Foreclosure *Reduced damage to your credit *Free of financial burdens * Relief of the stress * Possible incentive from HAFA (Home Affordable Foreclosure Alternative)
ASK me about - WACHOVIA FASTTRACK SHORT SALES
It is an EASY, NO Stress & FAST way to get an APPROVED - Short Sale
WE SELL REOs & HUD HOMES
Serving the Central Valley, Stanislaus & Bay Area
WHAT IS A REALTIST?
- A REALTIST believes in "Democracy in Housing" - the principle that all citizens have the right to equal housing opportunities, regardless of race, creed, or color.
- A REALTIST believes in preserving the rights of all Americans to homeownership and is dedicated to serve the unserved and underserved by developing creative and effective methods of doing so.
Central Valley Realtist Association(CVRA) / NAREB / CAREB
www.centralvalleyrealtist.com / www.nareb.com / www.CAREB.org
We represent home buyers and sellers as their exclusive agents in the Central Valley, Bay Area and nearby counties. Your Real Estate Professionals.
Rosemary-
I heard that Bank of America is doing 30,000 shortsales a month!