Smart Real Estate Show episode May 21, 2014. Foreclosure Lies and information about what the Banks are doing to help homeowners, and increase foreclosures. Current news regarding the Real Estate Market, and how to avoid Foreclosure.

Mortgage Settlement of 25 Billion Dollars is completed, and banks are now back on track to foreclose upon homeowners that are not making their mortgage payments. With an increase in foreclosures, this is a true sign that the banks are back on track to make more money and not allow homeowners stay in their home for free.

Remember, Banks are in the business to make money, not loose money. Since the Mortgage Settlement has been completed, banks can now return to regular business and take secured assets when a borrower doesn't make payments.

Current homeowners that have not made payments, and have been given a Notice of Default can find themselves in a position of foreclosure without additional notice. When a lender or bank issues a Notice of Default, the notice only needs to be filed once. Meaning, if you've been issued the notice, no matter when, the bank has the option to foreclose upon you without starting the process from the beginning.

This means, banks can continue the foreclosure process where they last left the foreclosure. If you're a homeowner facing foreclosure, Now is the time to either come current with your mortgage, or sell the property as a short sale.

Short Sales are expected to increase as lenders and banks now have a streamlined process in place. If you're struggling to make a mortgage payment, or have missed a mortgage payment, remember the bank has the right to foreclose once you're 30 Days Late. As long as you have a Hardship, you will most likely qualify for a Short Sale. This is great news for homeowners as it gives them the opportunity to start over and have their debt removed.

Current Market Analysis show pricing has increased another 2% since the beginning of 2014. This is due to a lack of inventory, and an abundance of buyers looking for homes. Meaning there are usually dozens of buyers looking for homes, but very few available homes on the market.

The lack of inventory is, in part, due to the 20% or more of homeowners being upside-down. This means that over 20% of homeowners can not sell their home unless they either sell as a Short Sale, or come up with the balance to pay off the mortgage. Most of these homeowners are more than 10% upside-down, so it's very difficult for homeowners to come up with that amount of money to sell.

The future of Real Estate is unknown, but indicators show there will be a slight increase in market value ranging from 2.2% to 3.2% by the end of this year. This is not engraved in stone, and pricing will be effected in the event Banks increase foreclosure.

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Hope you have a wonderful day and I look forward to talking with you soon.