Foreclosure Freeze Is Coming to an End

The big news from last week is that the foreclosure freeze brought on by documentation deficiencies has started to thaw. What this means for homeowners who are delinquent on their mortgage payments is that millions of foreclosures are looming. RealtyTrac estimates that more than 3.5 million homes that belong in foreclosure have been hanging in limbo.

The other significant news that has barely been reported is that while banks’ hands have been tied in moving forward with foreclosures for the past 10 months or so, they were shoring up their short sale infrastructures—creating huge cash incentives for financially strapped homeowners, focusing on efficient approvals, and developing systems for reaching out to CDPE agents to help borrowers navigate a short sale.

The combination of these forces is creating an environment that is more in need of a CDPE agent’s expertise than ever before. Homeowners who are headed toward foreclosure are desperately in need of a financially intervention and no one is more qualified than a CDPE to fill the void.
If you or someone you know needs help, please call right away.