The Minnesota Homeownership Center has released its 2012 year end data which shows tht Preforeclosure notices are down. For the fourth quarter, there were only 6,937 notices issued which is 45% less than the same period in 2011! For the entire 2012 year, there were 28% few Preforeclosure notices issued than in 2011. The City of St. Paul is the only area where Preforeclosure notices have not decreased. While this is encouraging news showing that we are moving in the right direction, there are still some 40,000 homes struggling with their mortgage payments.
What is a short sale? Do you know the difference between a short sale and foreclosure? Do you know what to do to avoid being foreclosed on? Do you know what programs are available to possibly help you avoid a short sale/foreclosure? Many homeowners are underwater, meaning they own more on their home than what it is worth, they can no longer afford their mortgage payments for a variety of reasons and do not know where to turn. This video gives a quick overview of the process. I am a CDPE and have helped many homeowners avoid foreclosure by selling their home in a short sale. If you or someone you know is in need of help, take a look at the short sale tab on my website for more information or contact me for a free, no obligation, confidential consultation.