Jonathan Bowman, founder of Short Sale Association of America (SSAA), recently stated that “Knowing that most distressed homeowners will not seek assistance on their own, it is our responsibility to reach out and assist homeowners who are in a pre-foreclosure situation.”
The unique tools and systems provided at SSAA help real estate agents identify the exact number of homeowners in their area who are 30, 60, 90, or 120 days late on their mortgage payments and provide assistance at no cost to the homeowner. SSAA released their interactive Pre-NOD heat Map in January 2011 to serve as a resource for real estate professionals working with homeowners who are in pre foreclosure.
According to the Mortgage Bankers Association, over 7 million U.S. homeowners are currently in default. Many are in the final stages of the pre-foreclosure process and now have limited options to avoid bank repossession. Based on current credit bureau data provided through SSAA’s Pre-NOD Map, there are over 1.5 million homeowners nationwide whose default status is new enough that it has not yet been labeled as public record. These homeowners are still in the early stages of pre foreclosure and, if identified early on in the process, have a much greater chance of avoiding foreclosure and bank repossession.
Tags: Arroyo Grande, California, Central Coast, PB, Pismo Beach, real estate, Realtor, San Luis Obispo
