Owners get help in choosing short sale over foreclosure

Greg Frost Jr. — Fri, 23 Apr 2010 17:00:03 +0000

Homeowners will now have
incentives to agree to a short sale (the process of selling for less than is
owed on a home) thanks to new federal rules instituted earlier this month. A
foreclosure hurts an owner’s credit rating for longer than a short sale will,
and the new rules make the choice easier by quickly setting bounds on the
minimum the home will be sold for. Lenders win because they lose only about 19
percent on a short sale as opposed to 40 percent on a foreclosure. Owners also
receive more in moving expenses and potentially in closing costs through the
FHA.

As experts in the field of FHA loans, we pay close attention to these
developments. Are you a Broker/Owner or Producing Branch Manager who is as
interested as we are in these issues? If so, take a look at Frost Mortgage for
net branch opportunities. We think you’ll find that
our Branch Partner
opportunities are the best in the business. We look forward to talking with
you.

Hope for housing in Southern California

Greg Frost Jr. — Fri, 23 Apr 2010 05:12:07 +0000

According to the Los Angeles Times, Southern California could be on the verge of a housing recovery:

“The median price paid for a home rose 14% in March to $285,000 from a year earlier, according to MDA DataQuick. Higher-priced coastal markets saw more activity, and fewer foreclosures were for sale.”

Our loan officers and Branch Partners can help you wherever you’re looking for a mortgage in California. Please, give us a call today and learn more about why we don’t just close loans–we open doors.

Frost Mortgage » Foreclosures

Owners get help in choosing short sale over foreclosure

Hope for housing in Southern California