Since April 2009, there have been 1.15 million foreclosures. During that same time, 6.1 million American homes have been refinanced and 2.8 million have received a loan modification from either the HAMP or a private lender program. That means that there have been almost 3 times as many loan modifications as foreclosures in the last 13 months. Government leadership has led to a more comprehensive and lasting modification program than the earlier HAMP.
What do all of these trends in my previous blogs mean?
It means that there is OPPORTUNITY!
Opportunity for lucky sellers, who are fortunate enough to offer financing in a world where credit is tight and lenders are running scared. These sellers will have a bigger pool of potential buyers and command a HIGHER PRICE for the sale of their home in LESS TIME than the same seller down the street who cannot offer owner financing.
Opportunity for private lenders who are looking for bigger returns on their investments than what they can get in the stock market, or with other investments. Why? Because many borrowers cannot find funds or credit to purchase a house, a home or an investment without it.
Are there risks associated with these opportunities?
Of course there are! And would you like to know how to mitigate those risks, while taking advantage of the unique opportunities that exist today?
Then stay tuned for my next blog!