1 in every 267 Homes received a foreclosure filing in just the month of November 2010 alone.
So far this year, more than 980,000 homes- the highest annual tally of homes lost to Foreclosure dating back all the way to 2005.
During this time, homeowners are running to the banks needing answers and asking for help to their problems. Loan modifications, being one of the options, has become a disappointment to today's struggling homeowner and statistics are showing the re-default rate on loans modified in the first quarter of 2009 was 51.5% by the end of the year.
More than 1/2 of US borrowers who received loan modifications on delinquent mortgages defaulted again after 9 months according to a federal report.
Homeowners have been stuck not only with the loss of their home, but with the pain of having a foreclosure looming on their credit for the next 7 to 10 years.
Realtors are stuck deciding whether they should embrace the short sale market and risk the time and effort it will take to complete a short sale or avoid short sales all together and potentially lose out on new business opportunities and new client relationships.
Ultra Processing LLC has recognized this disturbing trend and has vowed to make an impact by providing a systematic and streamlined process to the foreclosure relief option called short sale.