Charlotte Real Estate, Foreclosures, Short Sales

Faced with criticism, the Treasury department outlined new guidelines to help streamline the loan modification process under the adminstration's Home Affordable Modification Program that started over a year ago.  The previous paperwork required an overwhelming amount of forms to include 2 year's tax returns, paystubs, hardship letters, etc.. The new guideline specifies that borrowers provide three items to loan services; a form requesting a loan modification, authorization for the servicer t seek tax returns from the IRS an evidence of income.

As of December 31, roughly 900,000 borrowers had been given trial modifications, but only 66,465 had been converted to a permanent loan modification.  As of September 30th, about 7.5 million households were behind on payments or in the process of foreclosure.

If you are a buyer looking for short sale properties in need of immediate or if you are a seller in need of avoiding foreclosure by short sale or if you are in need of loan modification information, please click here.