Lexington Realty Launches Housing Assist of America and Provides Free Short Sale Services to Combat Foreclosures in the Distressed Housing Market

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 16, 2009 -- Why are so many real estate companies shifting their focus to distressed properties and short sales? The answer is simple, because that’s the direction the market has swung and it is evident that there is need for help. Additionally, homeowners are beginning to realize that a short sale is their best option when they compare a foreclosure vs. a short sale.

President of Lexington Realty, Aram Afshar states “In response to the foreclosure epidemic our company has created a division called Housing Assist of America, which is exclusively dedicated to assisting homeowners throughout California with short sale services. The primary focus is to help distressed homeowners who are facing or potentially facing foreclosure.” Afshar states, “We have built a solid bridge between homeowners and their lenders, receiving answers in a timely fashion. Daily, we gain the trust and respect of homeowners who allow us to take away much of the stress they have been dealing with in regards to their property.”

What is a Short Sale? This is the question that many home owners who are looking for an alternative to losing more than their home; these are people who want to hold their dignity in tact. A short sale is when the lender agrees to sell the property for less than the total amount due. Since banks are not in the business of owning properties a short sale is their best option. Additionally, in most cases banks must pay $50,000 or more for a foreclosure proceeding. In a short sale the bank is able to place a new home owner in the distressed property and the previous home owner, in the majority of cases, has their debt forgiven. It is a win-win situation for all parties involved, borrower, purchaser, and lender.

The trend of short sales is no hidden secret to major real estate companies. Today, more real estate companies are adjusting to current market conditions and reaching out to distressed homeowners. Real Estate Companies such as Keller Williams, Lexington Realty, Coldwell Banker and Century 21 are some of the companies assisting in the distressed housing market.