Denver, CO (Vocus) October 21, 2009
RE/MAX International of Denver, Colorado and HEART Monetary Services of Northbrook, Illinois have agreed to perform with each other to assist property owners stay away from foreclosure. The real estate franchisor and loan modification leaders have developed a unique pre-foreclosure or “Short Sale” strategy that will make it less complicated for households to sell their residences and avoid the trauma of a foreclosure.

“It’s unfortunate that the Quick Sale method has been so difficult to navigate in this marketplace,” says Dave Liniger, Chairman and Co-Founder of RE/MAX International. “We’ve been operating difficult to promote streamlined Short Sales to offer each important rewards to lenders, and a welcomed chance for property owners to get a fresh begin.”

At-danger homeowners who do not qualify for a loan modification will now have a viable alternative, and will not be forced into foreclosure. Lenders that supply loan modifications to their at-danger borrowers will be invited to participate in this new Brief Sale program.

Educated customer service representatives will provide detailed Short Sale data to all property owners who can not get a loan modification or do not want to retain their house. If a homeowner believes that a Short Sale may be acceptable, they are directed to a safe Web site exactly where they can obtain more data, and choose a genuine estate agent in their neighborhood who has received comprehensive coaching on the Quick Sale process. RE/MAX has created this exclusive on the internet database to assist homeowners with Brief Sale data and straightforward agent referrals.

“It really is been our encounter that many homeowners are not even conscious that Short Sales are a reasonable alternative to foreclosure,” says Jerry Alt, President and Chief Executive Officer of HEART Economic Solutions. “Every month we speak with thousands of homeowners who can not qualify for or don’t want a loan modification. For the most component, when we refer them back to the servicer for a potential Short Sale, we shed the chance to assist the borrower whilst we have them on the phone. Now, we can supply these homeowners some hope and a a lot more effective process to list and sell their property.”

The number of homeowners who could rely upon a Quick Sale might be in the millions. According to realtytrac.com, July, August and September had the highest foreclosure numbers on record and some analysts say there is a “shadow” inventory of foreclosed properties as higher as 7 million, which could commence hitting the industry in a handful of months. Out of all the applications reviewed for a loan modification, much less than 50% are effective. And a high percentage of productive loan modifications at some point re-default.

“We have been speaking to quite a few market leaders, legislators and Administration officials attempting to draw consideration to the Brief Sale scenario,” says Liniger. “It’s just not achievable for the housing market to recover fully till the inventory of foreclosed properties is considerably reduced, and Quick Sales delivers one particular practical way to help do this.”

There are over 11,000 true estate agents in the United States who have received the Certified Distressed House Expert (CDPE) professional designation. Over 60% of these are affiliated with RE/MAX. In addition, the National Association of REALTORS
