Matt Martin Real Estate Management Has Reached the 10,000 Mark in Successful Short Sales for Its Customers

VIENNA, Va., May 21 /PRNewswire/ -- MMREM hit a milestone, today, when
it surpassed the 10,000 mark in real estate short sales and foreclosure
prevention cases for sellers in the Washington Metro area, the real estate
specialty powerhouse announced today. "We have saved consumers over $1
billion over the course of the 14 years we have been doing business, most
of that during the current market," says MMREM CEO, Matt Martin.

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Most short sales and foreclosures are the result of rising variable
rate mortgages combined with a decline in the real estate market. Short
sales are sales in which the mortgages owed on a property exceed the price
the seller is able to get in the marketplace, leaving the seller "short"
the difference. If the seller can't come up with the difference in cash,
the property usually can't be sold. Foreclosures are often the result of
rising interest rates when homeowners are unable to make the increased
monthly payments.

MMREM's success lies in its ability to negotiate with various lending
institutions for a compromise or forgiveness of the difference between the
selling price and the mortgage amount. According to CEO Matt Martin, MMREM
is successful in 92 percent of the cases.

But let the buyer beware. "The market for short sales is tremendous at
this time," says Martin. "Unfortunately, there are a number of companies
out there who don't know what they are doing. They claim they can create a
successful short sale but just end up taking the seller on a big, long ride
to nowhere."

MMREM's success helps lenders minimize their losses.

In a short sale, the lender typically loses 19% of the loan amount,
compared with an average loss of 40% in a foreclosure sale, according to
Clayton Holding, Inc., which tracks more than $500 billion in mortgage
loans monthly. The National Association of Realtors reports that short
sales currently account for 18 percent of home sales. The number of
foreclosure notices has more than doubled in the first three months of
2208, compared with the same period in 2007. Realty Trac reported that
almost 650,000 homes across the country have received at least one
foreclosure-related filing in the first three months of this year.

Matt Martin Real Estate Management (http://www.mmrem.com) provides real
estate marketing services for HUD in Ohio, as well as short sales marketing
for brokers around the nation. MMREM is one of four Matt Martin companies
including a title company, property preservation firm, and local real
estate company.



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Source: Real Estate Newswire