In the 21st century we have experienced one of the most rapid ascensions and descents in real estate history. Many called it a "market correction." Some called it "the housing bubble." Others used the term "real estate crisis."
No matter what you call the roller coaster of the real estate business in this generation, most would agree that it has shaken our country to its core. With a consumer-driven economy, rapid inflation and huge numbers of unemployed workers, many were forced to short sale their homes, have endured the humility of foreclosure on their properties, and even been left homeless.
As a professional mortgage broker for over 25 years, I began to look "why" many who were accused by the media, both directly and indirectly, of strategically defaulting on their mortgages had lost their homes. Were they going to try again? Would it even be feasible for them to re-enter this staple of the American dream called Home Ownership?
I discovered some sad stories, most of which were not what we heard on television or in the news. Some of my clients have even agreed to tell their stories, and that has helped me testify before the U.S. Congress to get policies changed and work toward fixing the problems. Many of these Short Sellers had been told to stop paying their mortgage in order to get their property sold by their lender! Then their valuable credit files were being coded as "foreclosures," which was not correct.
Today, we are working to connect those who lost their homes, but want to obtain a new mortgage and start again; with those who are willing to take the time to correct errors in record, help them state the truth of their case; along with realtors who can work with a new system that helps sell damaged properties within a set of guidelines to make the home repairs part of the mortgage package - and begin renewing our commitment to helping Americans become homeowners once again.
Fannie Mae finds fix for short-sale glitch Tampa Tribune, Aug. 23, 2013
Mortgage Broker Battles Lender Folly April 6, 2012
Mortgage broker fights lender folly April 6, 2012
Tampa Bay Loan Officer Initiates White House Petition to Stop Nationwide Strategic Defaults March 12, 2012
Ken Harney, Washington Post:
For short-sellers, some good news Washington Post, Sept. 6, 2013
National Mortgage Professional Magazine:
The Long & Short: The Business of Short Sales March 13, 2014
NCRA Hosts 2013 National Conference in Albuquerque Feb. 10, 2014
Solution to Short Sale Underwriting Issues Now Available Dec. 19, 2013
Grassroots Efforts Enact Governmental Short Sale Changes March 12, 2013
Give Short Sellers a Second Path August 2014