Jul
17
Written by:
David "The Diamond" Oswald
7/17/2010 12:29 PM
Hey World,
Got some good news for those of us who are short sales investors in the article below. By the way, I've been investing in short sales since 2006 and even if you haven't started yet, don't feel like you've missed the boat! Make sure you check out my main website above and if you're interested in quantum leaping your success, click on the mentoring tab on the left to see how you can work with me or one of my coaches.
Check out this article below from www.dsnews.com.....
Los Angeles-based Equator said Thursday that 300,000 short sales have been initiated on its platform since the short sale automation solution was launched in November 2009. Just over a month ago, the company hit the 200,000 mark, illustrating just how quickly short sale transactions are gaining momentum.
And the number of short sales is only expected to increase, with transactions conducted under the administration’s Home Affordable Foreclosure Alternatives (HAFA) program becoming a substantial percent of overall short sale volume. Homeowners who don’t qualify for a federal loan modification will be offered HAFA as a next-choice option under the government’s foreclosure prevention program.
Since January, Equator says its technology platform has processed twice the amount of short sales as REOs. While the company’s REO volume has remained consistent in 2010, Equator reports a considerable increase in short sale activity. Its users completed an average of 196,822 short sale transactions per day during the first two months of the second quarter of 2010.
“More servicers recognize short sales as a viable foreclosure alternative, largely due to Equator’s technology, which has transformed a process traditionally known for expensive delays and few closings,” said John Vella, Equator COO. “Equator’s short sale solution has reduced the days on market to an average of 88 days, a dramatic improvement in productivity and cost savings.”
Warmly,
David Oswald
www.DavidOswaldOnline.com
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