Federal Reserve takes major steps to forestall foreclosure and help homeowners
As the number of foreclosures in the United States of America is spiraling out of control, the Federal Reserve is showing huge concerns for all those underwater homeowners who are losing their homes to the banks and the mortgage lenders. The President of the US, Barack Obama has recently added some more spices to the already existing ‘foreclosure-prevention’ effort with the hope of helping all the unemployed and underwater homeowners so that they could stay in their homes. The goal of Obama is to assist at least 3-4 million homeowners by the end of 2012 and also have their mortgage balances cut down to a level that is in accordance with the current value of homes. The best part is that the Federal Reserve will no more issue any federal money to fund the changes brought about in this particular program for the welfare of the homeowners. Mortgage questions and answers are something that hovers in the minds of the homeowners and if you too are in doubt, read on the concerns of this article.
A sneak-peak into the new guidelines brought in by Obama
We were very Pleased to have James A. Browning, CEO and Founder of REO Institute, present this webinar discussing training on listing Multi-Family and Commercial REOs. You can visit www.reoinstitutecolorado.com for more information about this segment.
If you're interested in listing Multi-Family and commercial properties for the banks, you'll want to join this free webinar on Thursday. Presented by CEO/Founder of The REO Institute and acclaimed author of "How To Work Asset Managers", James A Browning will enlighten your world with information you can't get anywhere else! We're pleased to host this for our valued members. Make sure you register in advance since the webinar is limited to the first 500 agents that register.
Webinar Information (It's Free)
This Thursday June 14th at 1:00 PST.
Hosted by REO Industry Directory
Presented by: James A. Browning, Founder -REO Institute.
Click here to register for the Webinar.
Some asset management companies and lending institutions have their own REO portals you should apply with. It's Free and will get you in their system. These links are usually hidden from public view or advertisement, but our relationships allow us to collect them all. Here are a few we recommend you start with.
Precision Asset Management - Register
Asset Services, Inc. - Register
Brighton REO - Register
CNN just confirmed what we've been saying for the past month. Today they reported that Bank of America, Wells Fargo, Citibank, Chase and Ally Financial all expect a rise in foreclosures after a dip in February due to delays in foreclosure proceedings, adding that "the foreclosure pipeline was beginning to unclog" and they expect "a climb in the number of homes repossessed". (Source: CNN Money)
This news means more REO agents will be getting listings soon. How quickly or slowly the REOs are dripped on the open market is up to the banks, but one thing is for sure; they are coming! Find REO Agents.
Read the complete article on CNNMoney.com.