Charlotte Real Estate, Foreclosures, Short Sales

New Buyer Seminar on Foreclosures, Short Sales, Auctions and NC Downpayment Assistance programs!  Click to talk with an online sales agent for more information.

According to DailyFinance.com, about 5.1 million mortgage holders will own a home that is worth 75% or less than what they owe on the home. A new study drawn by First American CoreLogic then given exclusively to the New York Times states that it would take $745 billion dollars to get mortgages to the point where no home loans in the United States were underwater. Ironically, that is somewhere around the amount that the banks received for their bailout???

RealtyTrac has recently estimated that there will be a rise from last year's foreclosure rate. They are estimated roughly 3 million homes will go into foreclosure in 2010. We are still waiting for the federal government for a long-term solution. Adding more money to this problem may not be an option since the federal budget deficit this fiscal year is projected to be nearly $1.6 trillion.

We will continue to see a sharp increase in short sales and foreclosures in Mecklenburg and the surrounding counties. As a Certified Distressed Property Professional, I am able to assist buyers and sellers navigate through the ups and downs of our housing market with less stress, more ease while keeping more money in your pocket. Call me today, Sandra Allen at (704) 559-5988 X5 for more information on buying short sales and foreclosures or if you are an owner of a distressed property.