Al Villegas

Short Sale Opportunities for Agents...Got Better!!!

http://www.realtor.org/wps/wcm/connect/15c5e0004e1a95378582f7ec21680fb0/government_affairs_short_sales.pdf?MOD=AJPERES&CACHEID=15c5e0004e1a95378582f7ec21680fb0

SHORT SALE OPPORTUNITIES FOR THE PROFESSIONAL REALTOR!!!! (CDPE)

Amid rising U.S. foreclosure filings, U.S. government officials Thursday announced plans to broaden their efforts to help troubled homeowners and further ease the housing crisis. Officials announced two new programs: one aimed at giving mortgage servicers incentives to relocate troubled homeowners to a home they can afford, and another that will provide lenders incentives to modify loans in areas where home price declines have been severe.

Under the new program administration officials unveiled Thursday to help provide foreclosure alternatives, Treasury plans to encourage servicers to consider a short sale or deed-in-lieu if a borrowers doesn't meet the eligibility requirements under the government's plan to encourage.

In a short-sale, a servicer would allow the borrower to sell the property at its current value. With a deed-in-lieu, the borrower would be able to voluntarily transfer ownership of the property to the servicer. Treasury said mortgage servicers have generally opted to pursue foreclosures instead of these two complex transactions even in cases where a short sale or deed-in-lieu would be a better outcome for borrowers, investors and communities.

As part of the new efforts to protect against falling home prices, the government will make payments of up to $10 billion to encourage lenders, servicers and investors to modify rather than foreclose. The goal is to boost the number of loan modifications in areas of the country that have seen prices plummet drastically.

The Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan provided an the update on their housing efforts today in a news conference.

This is going to increase the need for a professional Short Sale expert. If your serious about your career look into the CDPE designation (http://www.cdpenow.com/).

In my office I already have 40% of my agents who have earned this designation. As a REO BROKER, I burn the candle on both sides....Pre-foreclosure and Post-foreclosure (REO). This is why our office is doing well. We are focused on what is happening in the market now. I would encourage you to do the same.

Running very low on my REO listings, I've sold everything and waiting for a few properties to vacate. I have been told by different Asset Managers I work with, that it will soon start to flood....been waiting for about a month now. In Northern California...it's flooding with new REO's. Anyone have any latest updates?

PLAN FOR SUCCESS, WORK HARD, AND ACCEPT NO OTHER OUTCOME...We have before us a once-in-lifetime opportunity in which hard working, forward-thinking, consistently driven Real Estate Broker/Owners and Agents will find new paths to success. In the last year or so...those who are tired, worn out, unorganized, under capitalized, dispirited or not willing to invest in themselves or their profession..have failed and have disappeared from our industry. We must all be persistent these days. As a Broker, Owner or manager, you need a burning desire to generate profits and provide services for your agents and their customers. You need a specific plan; perhaps a renewed commitment to recruiting, or a shift in your business plan. You need to block out doubt, fear and negative influences. And finally, you need people who support you efforts. From your agents and fellow Brokers/Owners. A hand for those Broker/Owners who have done this for their agents and proved to themselfs...that they are the few and the proud.