Foreclosure Friday Report

FORECLOSURE FRIDAY REPORT from  Short Sale ProLogic:  

Today Short Sale ProLogic took a look at Littleton, Colorado and found some very shocking, very disturbing results. Currently, there are a total of 1,152 homes going through the foreclosure process in Littleton. Of those same homes, only 56 of those homes are actually listed, which is a mere 4%.

What most people don't understand is that there is something that can be done. If you are facing foreclosure and can no longer afford your home, you may qualify for a Short Sale—even if you don’t think you can (or haven’t been able to) sell your home.

So, what are the benefits of a Short Sale? Take a look:

• Eliminate or reduce your mortgage debt
•  Avoid the negative impact of a foreclosure 
• Start repairing your credit sooner than if you went through a foreclosure 
• May be able to get a Fannie Mae mortgage to purchase a home sooner (in as little as 2 years) than if you went through foreclosure (at least 7 years)

 

With the help of Short Sale ProLogic, Realtors are given the tools to not only find out the exact status of each home that is going through the foreclosure process, but also the training needed to approach the homeowners to begin helping them get their home listed and save them from foreclosure.