4106 N. Octavia Ave, Norridge. View Details.

RealtyTrac SVP Discusses November Numbers, 2010 Outlook for Foreclosures on Bloomberg

The Washington Post

The government's foreclosure relief program is sputtering, according to government data released Thursday showing that the pace of help being offered to struggling homeowners slowed last month and many borrowers are at risk of losing the aid they have already received.

The program, known as Making Home Affordable, faces a frustrating set of challenges. Only about 4 percent, or 31,382, of the 728,000 homeowners currently in the program have moved from the initial, or "trial" phase, to a permanent loan modification. That leaves thousands of borrowers in limbo and in jeopardy of losing their mortgage help because they have not turned in enough paperwork to prove they qualify.
 

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Today's real estate market is ever-changing and with so many inconsistencies, foreclosures have been on the rise dramatically. With so many distressed properties on the market it is important to recognize this sector of the real estate industry as a critical player in the game of real estate. There is a surplus of investors and first-time buyers taking advantage of the incredible opportunity this market can hold if a buyer is able, willing and ready to move forward. While ever-changing and challenging, this market poses an advantage to those who choose to take advantage of it.

View our how to Make an Offer on a Foreclosure document for detailed information on how to best prepare an offer on a foreclosed home.

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