Tuesday, January 12, 2010

The Real Estate Fiasco

I am in a two day real estate course called "Solving the Foreclosure Crisis One Seller At A Time."
I wish it was that easy to do.
When a seller goes into a short sale or a foreclosure situation it takes diligence from the seller, their agent, the bank (sometimes more than one if there is a home equity line of credit), a buyer, their agent and their bank. Then there is the title company to pull it all together as well. This can take from 3-9 months.

Did you know?
One in four homeowners is under water. That means they owe more than their house is currently worth.
The bailout that was supposed to help over 3 million homeowners has helped only about 10,000 so far.
Of the 10,000 the bailout has helped, 58% of them are in foreclosure a second time.

What is the answer? More jobs, more government control, more personal resonsibility on the part of the homewoner? I'm not sure I have the answer, but I am trying to help the situation...one Seller at a time.

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