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Find out how you can qualify for up to $3,000 in relocation assistance and get out from under your underwater house.  Contact us today to schedule your FREE consultation by clicking HERE.

Pruven has helped scores of homeowners get out from under mortgages that they can no longer afford.  You may even qualify for the government’s new HAFA program and up to $3,000 in relocation assistance.  As always, our services are absolutely FREE to sellers.  Contact us today for more information at relief@pruven.org or go to www.pruven.org.

1) A short sale can help you avoid foreclosure and the negative impact that it will have on your credit. Most of the loan modifications that we have seen have not been successful and have only delayed foreclosure. The loan modifications that were successful generally modified payments by $50 to $200 but did nothing about the hundreds of thousands of dollars of negative equity in the property.

2) A short sale done through Pruven Real Estate & Investment, LLC will cost you nothing. In fact, we may even be able to qualify you for up to $3,000 in relocation assistance depending on your loan and servicing company. On the contrary, most loan modification companies will charge you up front fees whether they are successful or not. We have even seen lenders charge homeowners to modify their own loans. Again, most of the “successful” modifications that we have seen resulted in only minimal reductions in payments and did nothing about the negative equity in the property.

3) Through a short sale, you may be able to walk away from the negative equity in your home. A loan modification will tie you to an upside down property even longer and prevent you from rebuilding your net worth.

4) After a short sale most people are able to purchase another property after two years. With a “successful” loan modification, you’ll be tied to your upside down property and the negative equity associated with it for years. You’ll be unable to take advantage of the tremendous buying opportunities that are available today.

When it comes to short sale vs. loan modification the choice is yours. The overwhelming majority of the property owners that we have come into contact with have decided that short selling is the best option for them. Contact us today so that we can help you understand your options and make the right choice for you.

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This week, Apartments.com and CareerRookie.com identified the top 10 cities for recent college graduates, based on the places with the highest concentration of young adults between the ages of 20 and 24, the highest inventory of jobs that require less than one year of experience, and the average cost of rent for a one-bedroom apartment.

Here’s their list:

1. Atlanta
2. Phoenix
3. Denver
4. Dallas
5. Boston
6. Philadelphia
7. New York
8. Cincinnati
9. Baltimore
10. Los Angeles

Of course, most grads are probably just happy to land a job — regardless of where it’s located. There are some signs that the job market for new graduates is rebounding; 24.4% of 2010 graduates who have applied for a job have one waiting for them after graduation, according to the National Association of Colleges and Employers. Last year at this time, 19.7% of 2009 graduates who applied for a job could say the same.

– Amy Hoak , Real Estate writer for MarketWatch

Through the program, homeowners are encouraged to do a short sale – in which the borrower and the mortgage servicer agree to sell the home for less than the value of the loan. They can also do a deed-in-lieu of foreclosure, in which the homeowner voluntarily gives the deed of the property to the servicer

Incentives include being fully released from future liability for the first mortgage debt, and $1,500 for borrower relocation assistance. There are also incentives for investors and the lenders.

As the United States continues to experience one of the worst economic downturns ever, foreclosure filings continue to rise – especially amongst minority families. In 2009, a record 2.8 million homes went into foreclosure, and the filings in 2010 are estimated to reach up to 3.5 million. Experts say that foreclosure activity will likely remain high until at least the end of 2012.

Although controversial amongst many industry leaders, some are optimistic that the HAFA program can drastically reduce the amount of foreclosure filings and rebuild the housing marketing one mortgage at a time. Homeowners find the program attractive because it does not affect their credit report as adversely as a foreclosure does.

For more information on how to qualify for these new government programs, contact us at (602) 464-4334 or e-mail shortsales@pruven.org.

HB 2768 prohibits this third-party transfer fee scheme from continuing in our state. It has passed both the House and the Senate and awaits Governor Brewer’s signature into law.