"Lifeline" for People in Foreclosure

To our associates:

We wanted to give you our interpretation of the Lenders/Government’s Lifeline program announced last week for borrowers in foreclosure.

To summarize, the 6 top lenders in the country have offered to freeze the foreclosure process for 30 days, to allow borrowers (90 days late or more) a little breathing room, and to allow them come up with ideas to save their homes. They have offered, on a case by case basis, to freeze the interest rates on those loans for a period of up to 5 years, too. There are other steps they can take to help as well. As a company, we feel the program does not go far enough to address declining market values or address lender abuse, but the government has at least tried.

The key point to consider with this program is that it is for people who would like to KEEP their homes. If this is the case for you, we certainly do not want to stand in the way. Short Sale Group is there to help people who have considered all of their options, and decided that the best course of action is to sell - and ask the bank to settle for less.

If you have any questions, drop me an email and we will get back to you ASAP!