Setting up of a Short Sale Platform Will Hopefully Put Brakes on Foreclosures
It is hoped that the debuting of a short sale platform will hopefully put brakes on foreclosures. A new agency for promoting short 
sale has been launched – Short Sale Association of America benefiting realtors and borrowers. This is good news for the real estate market where over 12 million house owners are upside down on their mortgages; it means their houses are worth less than the loan due amount. The founder of SSAA Jonathan Bowman said that agents will empowered by the resources provided by his organization based in Kentucky. They will be able to reach out to the troubled homeowners and give effective help.
A bouquet of tools is offered by this new platform that will make the work of the agents more streamlined from the start to the end –acquisition, management, marketing, education etc. The group is focusing on a mobile platform that will enable agents to take a more active part and effectively list and sell the troubled properties.
Responding to the setting up of the SSAA broker Ellen Shaikun of RE/MAX said that it was a “must for any agent” and that “it will revolutionize the industry”. The distressed house owners can avail of all the tools and services of SSAA free. Realtors across the nation can view and or enroll with them online.
Those who enroll as members of SSAA each get a certified customized website. The general traffic is directed to the site of the agent where house owners can interact; agents will suggest a line of action after evaluation of their particular position. The customized site also imparts related education, information and some tools for the house owner, the sellers and the buyers who knock on the doors of the agent at the site.
Apart from this the members will be able to access the processing software relating to short sales and short sale forms of the banks and governments. There would also be a platform where responses would be automatic that will dispatch pre-set educational text to the house owners who want extra information through the customized website of the agent.
Earlier in 2011 the SSAA started off a proactive pre-notice map of defaulting properties for professionals in the marketing line. This helped in locating the position in number of days of some of the defaulting borrowers – an interactive heat map.
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