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Stop Foreclosure - Now Mortgage Applications Are on the Rise_ by SellHomeOwner

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Prevent foreclosure with a short sale. Stop foreclosure. Short sale service help and advice. Learn how to stop foreclosure.

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Stop Foreclosure Now
Mortgage Applications Are on the Rise!
The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey -- a measure of mortgage loan application volume -- for the week ending May 1, 2009, and it showed an increase of 2.4 percent compared with the previous week and 43.7 percent compared with the same week one year earlier.  The Refinance Index increased 1.2 percent to 5169.3 from 5108.2 the previous week and the seasonally adjusted Purchase Index increased 5.0 percent to 264.3 from 251.6 one week earlier.  The Conventional Purchase Index increased 5.5 percent while the Government Purchase Index (largely FHA) increased 4.4 percent. The four week moving average for the seasonally adjusted Market Index is down 6.0 percent, the four week moving average is down 3.1 percent for the seasonally adjusted Purchase Index, and down 6.7 percent for the Refinance Index.  The refinance share of mortgage activity decreased to 74.4 percent of total applications from 75.3 percent the previous week.  The adjustable-rate mortgage (ARM) share of activity remained unchanged at 2.1 percent of total applications from the previous week. Refinance still dominates the mortgage market, but new purchase applications are starting to pick up. Refinancing your loan is just one way to stop foreclosure on your home. That’s not all the good news, two private reports released yesterday reported that the rate of job cuts are slowing.  Automatic Data Processing, a payroll-processing firm, said private-sector employment decreased by 491,000 in April, a 31% improvement from the revised 708,000 drop in March, and Challenger, Gray & Christmas Inc. reported that the number of layoffs announced in April shows an improvement of 12% from March's 150,411 cuts.  It was the lowest total since last October, according to Challenger, but the April figure was still 47% higher than job cuts announced in the same month a year ago. Hopefully, this slow down will help people feel more secure un their purchasing. For those that could still be in trouble, however, a short sale is a great way to prevent foreclosure. “Our short sale service is a winner all around. You sell your home in a market that already has a 19-month inventory of unsold homes and the bank gets cash back instead of another vacant property. If you want to avoid foreclosure, Sell Home Owner can help. One of the biggest problems homeowners face is waiting too long to ask for help. Contact us today and let us show you how you can start breathing again,” says the representative from Sell Home Owner. If you are considering a short sale, and are looking for a short sale specialist firm, choose the right partner by using the following guidelines: • Look for a company that does not charge fees. The only short sale companies that charge fees to the seller are scam artists who want to take your money and run. These companies ask for a fee, because they want a “guarantee” that they will make a money off of your account, regardless of whether or not your home sells. True short sale companies will not charge you a fee for your business, and instead work off of a commission structure based on their sales. This means that they do not get paid unless they obtain a successful short sale of your home. • Make sure the company has licensed and bonded mortgage brokers on staff. If a company does not have licensed professionals on their staff waiting to help you, then you are most likely involved with a scam. Remember, if you want to get the best possible price for your home, you need to work with someone who has proven experience and strong relationships with lenders. • Check to confirm that lawyers, not simply sales professionals, review all contracts. Lawyers’ are the only qualified party to review these complex contracts, and they can prevent you from making several critical errors.

Short Sale Scams Boom In Recession

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• Lastly, look for a company that pays its employees with a percentage of your sale. This means that the employees are going to work as hard as possible to get you the best price. How long have you been working with short sales or foreclosure prevention? If the answer is a short time, this can indicate someone who has recently joined this market in order to make a quick profit. Remember, if you are stuck in a house you can’t afford, there are thousands of people just like you. Don’t let shame or embarrassment keep you from taking steps to prevent foreclosure. Find a solid company to represent you and move forward. For additional information on short sales, or preventing foreclosure, visit http://www.SellHomeOwner.com.

Short Sale Scams Boom In Recession

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