Loan Modifications Won’t Stop Short Sales

Are you aware than many borrowers, after a loan modification, falls
into foreclosure again?  Loan mods often don’t work.  Isn’t that what we said years ago about Forbearance?  The stats have not changed.

The 14 largest banks in the nation said that over half of the loans they modified in 2008 were delinquent again after six months.[1] Smaller mortgage companies are having better results, but still are reporting 25 percent of modified loans becoming delinquent again.

That says Short Sales are here to stay.  Loan mods are often just putting off the inevidable.  Foreclosure and the defaulting homeowner must move out of their house.

Short Sales save their credit, their house from foreclosure and their self esteem.  Do short sales.  We are helping people and helping ourselves.  It’s not stingy.  It is a needed service!

www.shortsalequeen.com/?coaching

Deb McMillan