3.12.2011 Monday News You can USE!

A dream doesn’t become reality through magic; it takes sweat, determination and hard work.

– Colin Powell

This article is full of some great statistics: Foreclosures Ramp up

  1. Foreclosures sold in 2011 = 907,000
  2. In 4th Quarter of 2011 Foreclosures were 25% of all closings!
  3. Short Sales increased 15% in 2001
  4. Average discount for a short sale (versus a non-foreclosure home sale) was  21% – acerage discount for a foreclosure – 36% -15% more!!!!
  5. There are 4 million delinquent loans and 2 million in foreclosure!!

CNN says those upside down – 11.1 Million

Bank of America Principal Reduction??  BofA plan  Only valid on its loan – non Freddie Mac or Fannie Mae or VA or FHA – and it’s already identified the 200,000 and will reach out to them soon. If you know someone that has an offer from BOA, please let us know the details!

No surprice, but it’s official! The best time in this history of mankind to buy a home: Affordability at record high!  Affordability

Interesting thoughts and business model from our Canadian Neighbor:  More Service  (Note especially all the comments posted – fun to read)

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