Local real estate professional attends
(Dallas TX) – Jane Araguel of RE/MAX Coastal Properties joined other real estate professionals from around the country at the Center for Asset Preservation’s Short Sale Summit held recently in Houston (TX). The two day meeting focused on the Obama administration’s newest efforts to help homeowners avoid foreclosure through “short sales,” which allow the homeowner to negotiate a sale of the home for less than the mortgage debt with the lender’s approval.
“The new Making Home Affordable (MHA) Short Sale program is designed to streamline and standardize the short sale process with a goal of helping financially distressed homeowners avoid losing homes to foreclosure ,” said Araguel. “I left the Short Sale Summit with a good understanding of the new government program and information necessary to help homeowners determine if they qualify for a MHA Short Sale and with the tools needed to negotiate short sales following the new guidelines.”
“Short sales are a well established foreclosure-avoidance tool, but have been so time consuming and complex to negotiate, that many attempts fail,” said Waco Moore, co-founder of the Center for Asset Preservation (CAP) which hosted the program. “The new Treasury Department program should increase the probability of success due to standardized processes, simplified paperwork, incentives to encourage borrower and lender participation, and assistance in securing release of junior liens on the property.”
The CAP meeting included presentations from HUD counselors who advise consumers about foreclosure options, a loss mitigation manager whose firm deals with hundreds of thousands of loans in default, an auction expert who discussed auctions as a short sale option, agents who handle short sales successfully and CAP co-founder Laurie Moore-Moore who covered details for the new Treasury short sale program.
Jane Araguel is a Certified Distressed Property Expert and a Certified Luxury Home Marketing Specialist. She can be reached at 850-650-0300 or firstname.lastname@example.org.
The Center for Asset Preservation provides training and resources for agents working to help homeowners avoid foreclosure. Based in Dallas, it is a division of The Institute for Luxury Home Marketing. CAP’s Short Sale training is also available online. www.CenterforAssetPreservation.com.