The U.S. Treasury Department just issued their latest OCC Mortgage Metrics Report which reports on how these distressed properties are currently being handled. Below is a graph showing how these properties are being processed now as compared to a year ago.
According to the National Association of Realtors, foreclosures sell at a 20% discount while a short sale sells at a 16% discount. Therefore, a short sale has less of a negative impact on prices compared to a foreclosure. Obviously, if the mortgage is modified, no sale takes place and there is no impact on surrounding home prices.
MacIntyre & Cowen, Short Sale Specialists, can help you navigate this process and get your home sold. With the extension of the Mortgage Debt Relief Act until the end of 2013, now is the time to act if you are underwater in your home. Give us a call at 517.999.2675 or visit us at www.pmachomes.com today!
- MacIntyre & Cowen - RE/MAX Real Estate Professionals - Grand River. Lansing MI
- I am confident that you will find the service and expertise you require in my team and me as your representation. Our track record of buying and selling homes is a testimony of my team’s success in navigating through many of the most difficult circumstances in the real estate industry. You need someone who can guarantee you results and who understands both the real estate market and the financing programs that are available in our market. I think of my team as “Solution Specialists” and we are known as experts in identifying different options and getting results. With today’s economy, you need an expert to buy or sell a home and that is what the MacIntyre & Cowen Team offers: service, knowledge, and experience. http://www.pmachomes.com 517.999.2675