E Short Sellers Expands Services In 2011

E short sellers expanded their marketing department in 2011 providing internet and direct mail marketing of short sale properties
By: Home Front News
 
March 16, 2011 - PRLog -- The numbers of Americans owing more on their mortgages than their homes are worth increased at the end of last year. This unfortunate scenario has kept many people from selling their homes in an already weak housing market. Experts expect the trend to continue.

As the Obama Administration encourages lenders and homeowners to pursue loan modifications and “short sale” agreements, many have noted the lack of success of these programs. “Many times the homeowner’s request for short sale agreements are denied by the lender due to a lack of proper documentation or a failure to negotiate an acceptable offer”, says James Frazier, Jr. VP of Operations at e short sellers.com (ESS), a nationwide short sale preparation and marketing company.

“We are experienced in short sale preparation and lender negotiation and have invested in technology to accelerate the short sale process. We also assist agents in marketing short sale properties”, says Mr. Frazier. Short sales have a reputation of being a and cumbersome process. According to a study of 600 Realtors by data analytics firm Equi-Trax Asset Solutions, 71% of real estate agents surveyed said it still takes four to nine months to complete a short sale. “The process has begun to move much faster. We have received approval in as few as two weeks as of recent and have shortened the process with most lenders 45 days or less”, says Mr. Frazier.
“Our objective is to create a short sale process that is hassle-free for all involved. The homeowners typically need to sell their home before it forecloses and may need assistance with preparing the required documents. This causes the agent , without short sale assistance, to work three times as hard for a reduced commission. Equi-Trax CEO Guy Taylor summed up agents’ frustrations when working on short sales by saying, “They would like to see the time period reduced so that deals go through faster and are less costly.”

The purchasers obtain a property at a low price. Lenders save on the loss of a foreclosure by selling the home without the costs of foreclosure” says Mr. Frazier. The total amount of negative equity increased to $751 billion nationwide, up from $744 billion in the previous quarter.

Mr. Frazier expects the need for short sales to continue to increase in the near future, “We are optimistic that with the aid of new advanced technology that improves communication between all parties involved, short sales are becoming easier to process which creates a more pleasurable experience for all involved. This is essential in getting the housing market back on track.”

ESS operates nationwide preparing short sale documentation for residential and commercial properties. e short sellers expanded their marketing department in 2011 providing internet marketing, direct mail and an investor to investor service.

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E short sellers, provides marketing, property management and document preparation for short sale transactions nationwide. Clients include homeowners, real estate professionals, investors and lenders.
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