As many of you know, a homeowner must first try to go through the HAMP program before the HAFA short sale option becomes available. However, did you know nearly two of every three mortgage holders currently in the HAFA program are doing so because they have been unable to stay current after a loan modification?
This news comes from Moody’s Analytics Chief Economist Mark Zandi. He went on to say that the loan modification program is taking in fewer homeowners, more that are in the program are having to drop out and, consequently, fewer homeowners are getting permanent modifications.
It’s just further evidence that the HAMP loan modification is not accomplishing what it set out to do because another government-sponsored program is having to help bail them out.
Moody’s Analytics is also predicting another 1.5 million short sales and foreclosures are predicted in 2011. Are you prepared to turn this staggering number into an opportunity to grow your business and help families in need of short sale and alternative housing solutions? If you haven’t done so already, be sure to subscribe to the Daily Headline News here on ShortSaleDailyNews.com so you can keep up-to-date on the latest information, statistics and resources like free webinars to help you run your real estate business better.
