Short Sale Guidelines

Here are some guidelines concerning Short Sales.

14 percent of all mortgages are not being paid. When someone is not paying their mortgage it is known as a default. 42 percent of subprime mortgages are in default, 10 percent of prime mortgages are in default and 18 percent of FHA mortgages are in default. Roughly 10 percent of all mortgages are not being paid. Option arms (pickup payment loans) start missing loan paymetns before the arms inflate. Most of these owners will not keep their homes.

Many arms are resetting in July 2010. Sitting at a 10 percent of an unemployment rate.

70 percent of homeowners do nothing to sell their home and walk away from their homes.

Bank Shadow Inventory: 10 million homes will fall under bank control, known as REO listings. these are millions of homes that the bank need to sell. There are only 4 million on the entire market nationwide.

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