"A HUGE concern from many of my clients seeking a loan modification that the banks are often proceeding with the foreclosure process while their file is being reviewed for a loan modification. The problem is the lenders often take many months to review the files and meanwhile the risk of foreclosure continues to increase, missed payments continue to rack up on the credit report, and the ability to have enough time for a short sale decreases.  This just is not fair and put's homeowners back against the wall.  Do they start a short sale?  If they want to stay in the home, then they at least want to know if they will qualify for a loan modification or not.  The state attorneys are looking to change this. Here is a posting from the Daily Real Estate News, March 8, 2011"

www.realtor.org/RMODaily.nsf/pages/News2011030803

Michael Bloch

Certified Distressed Property Expert

Lifestyles Real Estate

Realtor, GRI, CDPE

Office 831.420.2100

Cell 831.588.1588

E-Fax 831.854.0600

www.AtHomeInSantaCruz.com

www.ShortSalesInSantaCruz.com