Problems Buying and Selling Real Estate in a Post-Bubble Market Solved by New Programs from Metropolitan Business Council

Metropolitan Business Council announces new program, http://SellerFinanceCenter.com for buyers, which joins it earlier, http://WeTakeOverYourPayments.com for sellers to solve the problems of both groups in buying and selling real estate in the post-bubble real estate environment.

New York, NY (PRWEB) January 23, 2006 -- It is not generally known, but home owners typically lose 50-90% of their equity in the traditional sale of a home.

The National Association of Realtors estimates that sellers discount the selling prices of their homes by 9% in negotiations to sell their properties with prospective buyers.

Add in the realtors fee, about 6%, the closing costs, averaging 2%, on top of the costs of carrying the property’s mortgage, taxes, insurance and maintenance expenses for the 60-90 days between listing and closing, 3%; and approximately 20% of the market value of the home is chewed up in the process.

Since the average homeowner has less than 25% equity in their home, the loss of 20% of the home value means they will lose 80% or more of their equity in the process.

If the homeowner has 10% or less equity in the home, they will be unable to sell their homes without bringing cash to the closing, which will effectively trap cash poor homeowners in their homes.

This could be a disastrous situation if the homeowner is facing financial or personal stresses which necessitate a quick sale of the property.

In fact, a seller in foreclosure could very well be suffer even more if his over encumbered home is sold for less than the outstanding balance of the mortgage at a foreclosure sale. In most states, the bank has the right to obtain a judgment against him for the shortfall and can take anything the homeowner has in the process.

Should the bank be unable to collect the deficient amount, they can then report the loss to the IRS who will then go after the home owner for income taxes on the deficiency.

Instead, sellers can apply to MBC to see if they qualify for their proprietary, “We Take Over Your Payments” program which allows MBC to simply take over the payments of the seller’s homes, thereby relieving them of their burden as well as the heavy costs associated with a traditional sale.

MBC then finds a buyer who cannot normally buy a home because they do not want to subject themselves to the intrusive scrutiny demanded by the banks; income and asset verification, tax returns, financial statements etc.

Many times these are small business owners, self-employed professionals and foreign nationals. They may also be those unfortunates recently in bankruptcy or foreclosure.

MBC’s Seller Finance Center then provides financing to these buyers with no bank qualifying with terms up to 100 years!

The new MBC programs are truly Win/Win/Win for sellers, buyers and the banks who will avoid taking back these properties as foreclosures.

MBC is an investment consulting firm active in real estate and personal wealth consulting. You can find out more about the programs featured in this release at: http://WeTakeOverYourPayments.com and http://SellerFinanceCenter.com

Currently, MBC is seeking to license exclusive use of these ground breaking programs in states and counties around the USA to qualified real estate investors. For more information, go to: http://MotivatedSellersOnline.com/APS

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