As part of the family of Certified Distressed Property Experts I have access to additional tools that other Realtors may not.
The information below is one of the most recent bits I grabbed to share with my friends, family and clients!
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The Treasury Department is offering a free online calculator that helps borrowers estimate whether or not they qualify for the Home Affordable Modification Program ( HAMP).
The calculator is available at checkmynpv.com.
In the two years since its launch, HAMP has helped more than 270,000 borrowers receive permanent loan modification, thus lowering their monthly mortgage payments. That number falls far short, however, of the millions of homeowners at risk of foreclosure — which is bad for homeowners and bad for the housing market. The current glut of foreclosures — stalled by paperwork delays — poised to hit the market is already far more than can absorbed by first-time home buyers, according to the research firm Campbell Surveys.
That is why HAMP is so important. Every homeowner who modifies a loan and stays in a distressed property adds one less property to an already flooded market.
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We have enough inventory stuck up in the pipeline. It needs to be flushed through.
I hope at least one person reads this and is successful at a modification.
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