Sunday, July 22, 2012

Don't Short Sale your Home. We help Underwater Jumbo loans

Hello Real-Estate friends and family:   So much happening in the RE world today.  I am most upset by people leaving their homes due to a SHORT-SALE / Foreclosure.

         There is not much we can due for those with convention mortgages under the Jumbo mortgage limit of $729,750.  Conventional mortgages are resold on the secondary market with other "like" mortgages as a bundle to investors.

          Non-Conventional mortgages, aka, Jumbo mortgages cannot be resold by banks on the secondary market, so the Banks are stuck with them.  As these homeowners face the same "Loss" in EQUITY as the rest of the industry the effects are much greater to the industry overall as the values are raised to 1, 2, 3, 4, 5 million dollar homes and businesses. This impacts directly to the Bank bottom line,

      There is an alternative for Jumbo mortgage holders.  We work with you and your bank to improve your Equity, Maintain your Credit Score, lower your monthly payments, Live Happily everafter.
       Contact me to find out how we work together to regain the loss EQUITY to your Underwater, Negative Jumbo mortgage.

 Information gathered by several sources, including; Creonline.
  • Total existing home sales declined 5.4 percent in June but are 4.5 percent higher than the 4.18 million-unit level in June 2011.
    1. The national median existing-home price was $189,400 in June, up 7.9 percent from a year ago. This marks four back-to-back monthly price increases from a year earlier, which last occurred in February to May of 2006. June’s gain was the strongest since February 2006 when the median price rose 8.7 percent from a year prior.
    2. Foreclosures and short sales sold at deep discounts – accounted for 25 percent of June sales (13 percent were foreclosures and 12 percent were short sales), unchanged from May but down from 30 percent in June 2011.
    3. Foreclosures sold for an average discount of 18 percent below market value in June, while short sales were discounted 15 percent.
    4. Total housing inventory at the end June fell another 3.2 percent to 2.39 million existing homes available for sale, which represents a 6.6-month supply….Listed inventory is 24.4 percent below a year ago when there was a 9.1-month supply.
    thanks

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