Posted on Oct 19, 2012 in Roseville and Sacramento Short Sale FAQs

Hello everyone my name is Mark Peek with Keller Williams Realty, your Roseville and Sacramento short sale specialist, thank you for your time today. I work with distressed property owners in the Roseville and Sacramento area every day and use this blog to share important information on the numerous options available to homeowners for avoiding foreclosure. If you are currently behind on your mortgage payments or have seen the value of your home greatly diminished take a minute to browse through my website or call my office today to chat with an expert about your best options.

For my blog today I wanted to chat with Roseville and Sacramento homeowners about loan modifications and some statistics I have put together to show how they can help. In 2009 the government launched a campaign called Making Homes Affordable that was put in place to help distressed homeowners stay in their homes with lower monthly payments. Since 2009 there have been nearly two million loan modifications attempted with numerous different results. Unfortunately an astounding forty one percent of those applicants canceled there loan modification trial. These cancelations were due to homeowners either defaulting on their mortgage, not qualifying for the loan modification, or not meeting the debt to income ratios. Out of all these applicants roughly forty three percent were approved for a permanent loan modification since 2009. However, out of that group an incredible fifty percent had to cancel due to a default on their mortgage. In my opinion this just goes to show how inefficient this option is and why a short sale may be a better option.

While a short sale doesn’t allow you to stay in your home it can save you time and protect your credit compared to foreclosure. To learn more about the short sale process please fill out a contact form on my website or call me directly to discuss your options for avoiding foreclosure. Thank you for your time today and I look forward to hearing from you soon at Keller Williams Realty in Roseville and Sacramento.

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