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Really good week for homeowners especially if you are thinking of selling.
It's your time that's right it's time for sellers not everyone is able to sell -- I want to -- information on both sides.
In today's take charge consumer protection segment what you need to do if you're ready to put your house on the market and what homeowners who want to stay put.
Can do to make things a little more manageable.
-- Collison is a real estate and business attorney director of the Carnegie group author of the book financial fresh start great to see you -- The morning Jane let me start by asking about this program that helps mortgage holder as it was extended this week by two years I wanted people to know who can take advantage.
We'll folks -- have a Freddie Mac or Fannie may or an FHA mortgage can qualify under the home affordable wanna pick my mortgage modification program which is what was extended now.
What thing I really want everyone to know about that program is that last year there were changes to it.
So if you previously had a modification under this program and may be -- you're now able to apply again.
Also originally it was only for owner occupied homes but now if you need help with an investment property or second home.
You're able to apply get his wealth over a million people have benefited suited to -- -- about 550 dollar savings a month it's a significant opera.
Unity now that's tremendous.
I'm so glad that the people who couldn't get a before even they can get involved now.
And for those who want to sell their homes wire home prices rising why is this the time to really consider getting the maximum.
Dollar price for your house.
Well you know what let's look at the folks who had been sitting on the sidelines and wanna sell the main reasons are -- they're underwater.
Meaning they owe the bank more than their home is worth -- close to that.
Or are they still -- for their home at the peak and they want to wait for the home value to recover they don't wanna sell for less than what they paid.
But what we want those folks to know is number one.
Now was probably the best time to get a short sale if you're underwater in part because of these multi billion dollar settlements that some of the banks are involved in -- -- legally required.
To give -- set certain number of short sales.
As far as everyone else goes we saw huge value increases last year but we know that so far this year.
Values are only going up now at about half the rate they were before and that's gonna continue until 2017.
To you really saw the biggest bomb.
We know that's driven by investors and so -- a result we have high prices low inventory we have other buyers who are willing to make real concessions and work with US sellers.
And that's not sustainable that's not gonna happen for us.
At times -- great great time yet and I saw this study this week which is why why do the topic with you that prices are up in twenty cities surveyed 11%.
Quick question before we go -- your house was foreclosed upon but the bank hasn't sold it yet can you -- it back.
-- We are hearing stories we're banks do allow that a lot of times you're need to get -- need to line up your own financing.
But in this day and age there's not that conflict that there was a couple years ago and it's a lot different -- going to the bank when you're in foreclosure and asking to by the note for example so I'm actually representing several clients are doing just that that's great news to -- -- and bringing us a lot of good news today especially for sellers thank you.
-- take care.
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