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CHICAGO REAL ESTATE NEWS & MORE

2011: ANTI-FORECLOSURE SUMMIT HELD IN WASHINGTON D.C.

Washington D.C. is hosting an Anti-Foreclosure summit today, uniting homeowners with lenders, in an effort to reduce the amount of new foreclosures.  This weeks reports suggest housing prices dropped an additional 5% from last year, and many attribute it to the huge amount of distressed properties on the market.

The summit being held in the nation’s capital, has lenders meeting face-to-face with homeowners in an attempt to get their home loans modified.  Lenders have been empowered to offer solutions to individuals, on a case-by-case basis.  It is to their benefit to assist homeowners in need of help, as they cannot afford, nor do they want to take on additional foreclosures.

While foreclosures and short sales have made up for a high number of sales in recent months, it also continues to be the cause of a huge drop home values for most homeowners.  This summit is desperately needed to stabilize the amount of inventory coming on-line, and will also be held in Atlanta next month.

Let’s hope this helps the millions of people in need of assistance, it is in the banks best interest to find a solution. Otherwise they may find themselves with many more distressed properties on their books, in the near future.

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June 4, 2011 - Posted by | REAL ESTATE NEWS | , , , , , , , , , , , , ,

1 Comment »

  1. […] 2011: ANTI-FORECLOSURE SUMMIT HELD IN WASHINGTON D.C. (via Britta Rivera Venture) 04 Jun Washington D.C. is hosting an Anti-Foreclosure summit today, uniting homeowners with lenders, in an effort to reduce the amount of new foreclosures.  This weeks reports suggest housing prices dropped an additional 5% from last year, and many attribute it to the huge amount of distressed properties on the market. The summit being held in the nation's capital, has lenders meeting face-to-face with homeowners in an attempt to get their home loans mo … Read More […]

    Pingback by 2011: ANTI-FORECLOSURE SUMMIT HELD IN WASHINGTON D.C. (via Britta Rivera Venture) « Brittaj17's Blog | June 4, 2011 | Reply


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