Loan reductions are permanent in West Palm Beach

Making loan modifications affordable helped many desperate homeowners in West Palm Beach to save their houses and to get lower monthly payments. In general according to the national studies about 200 000 borrowers got the modification and about 1 million are on trial to get it. But in spite of all the positive results, still there too many of those who expect some help. Part of them can’t get any help because of many reasons. Experts rely too much on banks and say if the banks help the borrower to get the best point to modify the loan, the bank itself is likely to get the remaining sum of money of the loan. As foreclosure is a very expensive process for both. The recent report assumes that about 3000 modifications failed as the people didn’t manage to pay even the modified payments for homes in West Palm Beach.  In many case while modifying the loan people are usually given the interest rate reduction or are forgiven some money. Hundreds of people line to get this help as in many cases this is the only way out to stay in the house which was desired for so long.

Don’t forget to tell a buyer that your house is eco-friendly

At present day real estate market a seller should make his house attractive for potential buyers. Don’t forget to highlight the best features of your property for sale.

Sometimes during listing sellers forget to state that their houses are ‘green’. Of course, if you are selling a house in Alyaska, chances that someone will be interested in your green house are few but if you are selling your house in Florida, for example, in property North Miami Beach, you have to mention this feature as there’s enough sun there and green houses can save money.

Don’t forget to inform the buyer about all energy-saving appliances that you have installed. Sometimes the things that are invisible can save much money. For example, tankless water heaters as well as low-flush toilets are becoming more and popular mainly because you can save up to 30% of a bill.

HAFA program

Unfortunately, the state government programs introduced in the last 18 months have had little effect on the North Las Vegas Foreclosure market as well as the country in general. The foreclosure prevention program helped only about 100,000 homeowners last year, as you see, that’s a drop in the ocean.

On April 5 a new program starts - Home Affordable Foreclosure Alternative (HAFA). What is special about this program?

HAFA uses the information on the borrower’s financial hardships that has already been collected for considering a loan modification. It lets borrowers get pre-approved short sales conditions before listing the house for sale. According to the program, the servicers are not allowed to require a reduction in the real estate commission approved in the listing agreement (no more than 6%). Now borrowers are completely released from future obligation for the first mortgage debt. The program gives some financial bonuses: $1,500 for relocating; $1,000 for covering administrative and processing expenses; and some others.

It’s a new program and nobody knows its effect. But some analysts are sure that it will have a real positive impact on real estate markets. So, it's a good time to find Homes and Houses For Sale in North las vegas, NV.