Glendale, California (PRWEB) May 08, 2013
Throughout recent years, Vahe Hayrapetian—Sales Manager of Skyline Home Loans—has witnessed many national concerns over homeowner issues, such as lack of financing and rampant foreclosures. While these trends have discouraged many first-time homeowners from pursuing mortgages, Hayrapetian is now celebrating an industry turnaround that suggests more consumers are keeping up with their loans and are avoiding foreclosure.
A recent article from The Wall Street Journal explains, “The number of U.S. mortgages that were behind on their payments or in foreclosure in March fell below the five million mark for the first time since 2008…The number of loans in the foreclosure process fell to just below 1.69 million in March, the lowest level in nearly four years, according to Lender Processing Services. That was down by almost 20 percent from one year ago. Overall, around 3.4 percent of all U.S. mortgages were in foreclosure at the end of March, down from 4.2 percent a year ago.”
While he anticipates these trends are being celebrated by lenders across the country, Vahe Hayrapetian credits the entire nation for the steady progress. Hayrapetian comments, “It is incredible what a turnaround the housing industry has made and how many new financing opportunities responsible consumers can find with the right plan. Americans have worked hard to keep up with their mortgages and those efforts are now starting to reflect in new financing opportunities for homeowners.”
The Wall Street Journal adds, “Foreclosures have been [decreasing] because fewer borrowers are falling behind on their payments and because banks have been more aggressive about modifying loans or approving short sales, where properties are sold before the bank completes foreclosure.”
While Vahe Hayrapetian and many others in the home loan market commend this progress, the article reveals, “The latest data show that while delinquencies and foreclosures are moving in the right direction, it’s probably going to take a few more years before delinquencies and foreclosures get back to pre-crisis levels.”
“It is important for both homeowners and lenders to not rest on their laurels. Prospective borrowers still need to become as educated as possible when pursuing financing options, and lenders should provide comprehensive services to ensure this high level of fiscal literacy and responsibility. If the industry as a whole works to satisfy these needs, I believe that these trends will only continue to improve,” Vahe Hayrapetian concludes.
Vahe Hayrapetian is a sales professional with an impressive career history, focused primarily on financial services and home loan companies. Presently, Hayrapetian is the Sales Manager of Skyline Home Loans, based in Glendale, California; previous positions include management roles at Bank of America, GMAC Mortgage, and more. Outside the office, Mr. Hayrapetian is an enthusiastic supporter of FCN, a non-profit organization that seeks to enrich the lives of poor Armenian children.