I have to say that I am EXTREMELY pleased that the Mortgage Debt Forgiveness Relief Act has been extended for another year. If you are a homeowner in distress this is not the time to sit back and relax because there is not guarantee that this will be extended after the end of this year. This is the time for YOU to take ACTION...AND it is the BEST time for YOU to take action.
In November, I had given numbers of homeowners in default throughout the country. These, of course, were statistics up to the month of November 2012. I was especially shocked by the last statistic of close to 2 million homeowners were in Foreclosure status. That is a great concern and can be avoided by the homeowners taking action, Real Estate Agents getting the word out to the homeowners.
There are many programs in place to help homeowners either stay in their home (if the numbers make sense) through a loan modification or to exit gracefully with a Short Sale. If a homeowner chooses the latter they are sure to reap the some of the following benefits of selling their home:
The bottom line is that homeowners need to open their communication to receive the benefits from the help that is available.
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