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Why You Need A Short Sale Expert
Author : Angela Stringfellow
The new incentives offered as part of the Making Home Affordable Program entice lenders to accept proceeds from a short sale as full satisfaction of a loan, and offer $1,500 to homeowners to help with relocation costs. Short sales are already a more affordable option for lenders in comparison to foreclosure, but this program is designed to enable even more homeowners to avoid foreclosure status.
This program also includes a streamlined process designed to make the short sale process easier. So why do you need a short sale expert? Short sales, no matter how streamlined, are complex. There are more short sales on the market than ever, and lenders don't even have adequately trained staff to handle the short sale process.
Negotiations are complicated further if another lender holds a lien on the property. The Foreclosure Alternatives Program is offering an additional $1,000 to help satisfy the liens held on a short sale property by another lender. In order to qualify for this program, homeowners must qualify for participation in the Making Home Affordable Program, and they can consider a short sale if they do not qualify for a loan modification or have had a failed loan modification.
An agent with experience with Idaho short sales can make the process much easier for both the borrower and the lender, offering expertise for making the process go much more smoothly. Experience in short sales means an agent has a good idea of what many Idaho lenders will be willing to accept and what won't fly, saving a borrower what could potentially be months of harrowing negotiations.
This program is also going to attempt to create uniform short sale documents and processes, which should help to simplify the process further for agents. An agent with prior experience in short sales, however, has likely already been through the process a number of times, making the new uniform process even more understandable for a borrower.
Author's Resource Box
If a move to Boise appeals to you, visit the number one Boise real estate site at http://www.movinidaho.com. Mervin Hanover, Boise foreclosure and short sale expert, can help you make your Boise dreams a reality.
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Tags: boise, boise real estate, boise foreclosures, boise short sales, idaho
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Submitted : 2009-07-26 Word Count : 755 Popularity: 404 Times Viewed: 36
