1 in 4 Borrowers Is Under Water

The proportion of U.S Homeowners who owe more on their mortgages than the properties are worth has swelled to about 23%, threatening prospects for a sustained housing recovery. Nearly 10.7 million households had negative equity in their homes in the third quarter, according to the First American Core Logic, a real estate information company based out of Santa Ana California. Home prices have fallen so far that 5.3 million U.S households are tied to mortgages that are at least 20% higher than their home's value. More than 520,000 of these borrowers have received a Notice of Default, according to First American. Homeowners who owe more than 120% of their homes value are more likely to default.  (Article in the Wall Street Journal on November 24th, 2009)

Negative equity is an outstanding risk hanging over the mortgage market. It lowers homeowners mobility because they can not sell even if they wanted to move to get a new job. (Traditionally anyway).

Mortgage troubles are not limited to the unemployed. More and more homeowners who can still afford to make their mortgage payments are walking away from their property and foreclosing. 

I feel we have a unique opportunity here to help homeowners that qualify to negotiate a short sale on their behalf. Lenders will respect that more than just walking from the property. As you all know , lenders will lose 30-40% more. Lets try to keep those properties off their books. Lets help the economy and help our homeowners do the right thing. The more homes that foreclose the more values drop. Homeowners credit is ruined and will not be able to buy again for 5-7 years. If we can successfully negotiate a short sale, we can turn them back into a home buyer again in 18-24 months. (Set up your revenues for the future) They will come back to you.

I specialize in short sale negotiations. I am happy to take on that responsibility for you. I can help you pre qualify your clients, (They are your clients, not mine) I will do all back office and negotiations, I will coach you along through the whole process. I do the work and you get your full commission. I can give you the expertise necessary to help you help your clients, help our market and earn your commission you may have otherwise walked away from, without having to do all the work.

Call today to find out how our program can help you....