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Short Sale Association of America (SSAA) has recently released an ebook real estate agents can access and view online that is designed to help distressed-mortgage homeowners do the following: Come to a realization that the mortgage crisis is being felt nationwide Face the reality of their circums...

Recent data suggests it would take banks in New York State 62 years to repossess the 213,000 houses now in default or foreclosure. In New Jersey, another judicial foreclosure state, it would take 49 years. Florida, Massachusetts, and Illinois would take a decade.   Even though there are so many h...

What percentage of all home sales will be short sales in the coming months? What about in one year? 40%? 50%? Short sales rose from 17 percent in February to a record-high 19.6 percent in March. This is a chart that was included in the Housing Pulse Survey from Campbell Surveys and Inside Mortgag...

Did you know that lenders can detect double-closings on short sale deals AND find out if a short sale property was sold again in the months following a closing? They can! I was doing some research today on some of the latest short sale facts and trends and came across a research article with som...

Listing a short sale can be broken down into the following three steps: identify, sign, and pursue. Identify: Most real estate professionals might say that a short sale will occur when the value of a property is lower than the principle loan balance on a mortgage. This is true in most cases. A s...

SSAA's email alerts were bombarded this week as articles were released from the national press regarding the "worsening" of the housing downturn. With every article that gets released, I'm crossing my fingers hoping the press, the government, and the other "powers that be" will finally grasp the ...

  Many agents mistakenly believe that the negotiations process is the most important stage in the short sale process. They think that if they can be persuasive and persistent with the bank negotiator, they will secure a short sale approval more quickly. I would argue that getting your paperwork o...

  Freddie Mac reported more than half of all homeowners going through foreclosure do not understand their rights and options. Furthermore, more than half of all homeowners going through foreclosure do not contact their bank(s) to work out a solution because they think it will only make their situ...

One of my agents is in an awkward predicament with a short sale client. She sent me the following message last night about her client in Michigan trying to move to New Jersey: "Hi Jonathan, I have a client here in Michigan who is trying to move to NJ. They have not paid their mortgage for 3 payme...

I read today in an Associated Press article that the number of Americans who owe more on their mortgages than their homes are worth rose at the end of last year, preventing many people from selling their homes in an already weak housing market. According to Core Logic, 11.1 million households wer...