We have been talking about the first 90 day hold on the release of Foreclosures due to the TARP money approval by Congress late Feb and Early March of this year, 2009. We then had the additional 90 day hold by the Gov. of California to give the banks another requirement to show due diligence that they were indeed doing everything they could to help the distressed homeowner save their homes.
On the horizon, we now have a pending release of Foreclosure and Bank Owned inventory – There are also some serious concerns about the increase of NOD (notice of default) filings.
It is time to batten down the hatches and just ride this mess out. Hang in there and if you are one of those Distressed Homeowners – keep the faith and make sure you are dealing with qualified resources when you are thinking about Short Selling or any other financial option.
It also makes sense to do your homework, with other resources besides our Real Estate Team. Check with your accountant, Check with a Credit Advisor we Recommend John Franco, and Check with your Tax Person about any “unseen” implications with your Real Estate Plans.
Connor MacIVOR
RE/MAX of Santa Clarita
Directions to our Office
Paris MacIVOR
RE/MAX of Valencia
We have ways to do the Hunting for you when it comes to Foreclosures and other distressed properties. Our Search Engines are Top-Shelf and enable you to search for Real Estate as Agents do. Try Searching by MAP and Let us know how this suits you. Subject Matter and Active Rain Experts.
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