MatthewHohnberger.Com

Finally a plan that I believe will really WORK! The U.S. Treasury Department on Monday released a plan to speed up and encourage Short Sales as a means to help families avoid foreclosure. We’ve been offering Short Sale proposals to public officials for over a year, and although the new guidelines aren’t everything we were hoping for, they do represent a significant improvement over the current situation.

Short Sales have been difficult to close, and these new measures are a huge step in the right direction. One major highlight: A lender must give a yes or no answer to an offer within 10 days! Also included: a moving allowance, incentives for sellers and lenders, commission rules, and a stipulation that releases sellers from debt liabilities.

This is one of the best steps in helping home owners I have seen yet! Here is a quick outline of the plan. To view in detail please see one of the two links below – longer or shorter version depending on your preference.

1. $1,500 to borrowers from the government for selling by short sale

2. $1,000 to Mortgage servicing company for each completed short sale

3. $3,000 of the sale proceeds to 2^nd lien holders in exchange for releasing their liens

4. $1,000 to 1^st lien holder for allowing $3,000 payments to 2^nd lien holders

5.  Borrowers who complete a short sale under the program must be “fully released” from future liability for the debt!
Reuters news story – Long Version

http://news.yahoo.com/s/nm/20091130/bs_nm/us_treasury_shortsales

Wall Street Journal – Shorter Version

http://online.wsj.com/article_email/SB125963239592170665-lMyQjAxMDI5NTA5MTYwMzEyWj.html

Posted on December 3rd, 2009 by Matthew
Filed under: Uncategorized | No Comments »

Rocky Bar O' Ranch Elk

I drove up the North Fork today to show property and check out two possible new listings. As I drove through the Rocky Bar O Ranch the elk where enjoying the new spring grass. Spring has finally arrived to the North Fork! It sure has been a long one with unusual winter blizzards.

The real estate market in the Polebridge area has slowed down but at present the prices have not dropped like the rest of the Flathead Valley. What has changed is the time to sell a listing has increased even if it is priced at market value. From my experience I believe the time to sell property in the North Fork will go back to what it was like 5 to 6 years ago. I believe 2009 will show us pretty clearly where we are.

Matthew Hohnberger

Re/Max Mountain View

406-212-3600 cell

matthew@matthewhohnberger.com

Posted on May 18th, 2009 by Matthew
Filed under: North Fork, Polebridge | 1 Comment »