Sadly the question “What do you mean I don’t own my house anymore?” is being heard more and more by real estate agents and property managers around the country and through-out our region as well.
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 937,840 properties in the third quarter, a 5 percent increase from the previous quarter and an increase of nearly 23 percent from Q3 2008, according to the RealtyTrac U.S. Foreclosure Market Report. One in every 136 U.S. housing units received a foreclosure filing during the quarter — the highest quarterly foreclosure rate since RealtyTrac began issuing its report in the first quarter of 2005. Foreclosure filings were reported on 343,638 properties in September, a 4 percent decrease from the previous month but a 29 percent increase from September 2008.
Often homeowners are shocked to find that they have become part of the statistics above and the home has been taken and they no-longer own the property. Realistically no one has a greater interest in working out a short sale than the homeowner. Just because a house has an offer on it does not mean that the lender will stop the foreclosure. Helping you in negotiations for a short sale is just one of the critical ways Dick Thackston and his team can help you.
The opportunity exists for homeowners to move on with their lives a maintain and strengthen their credit ratings if a short sale is handled correctly putting them in a far better position than they will be if they allow their home to go to foreclosure and become a statistic.
Defaulted properties, REO’s, have been a big part of Dick Thackston’s business since the S&L Crisis of the early 1990′s. Short Sales are already having a major impact on real sales in the region. Dick works with the other 34 New Hampshire, Vermont & Massachusetts agents in his 3 offices helping property owners complete short sales and buyers find Short Sales and REO properties.
Helping you in negotiations for a Short Sale is just one of the ways Dick Thackston and his team can help you when they help you buy a Lender owned – REO property. To see all the homes on the market today in New Hampshire, Vermont & Massachusetts visit www.dickthackston.com or give him a call today at 603.283.0622.