Travis Jones of Rush Properties has been helping homeowners facing foreclosure for over 15 years. Travis Jones, Rush Properties has seen foreclosure rates fluctuate significantly and have helped many homeowners weather the roller-coaster of the last several years. As Travis Jones, Rush Properties founder suggests, foreclosure rates closely follow what is happening in the overall economy.
Travis Jones of Rush Properties Explains Current Rate of Foreclosures in U.S.
According to Travis Jones of Rush Properties, there has been a marked decrease in overall foreclosure rates in the U.S. this year. This is good news, explains Travis Jones. Rush Properties has worked with so many people who lost jobs during the financial collapse and their homes as a result.
Travis Jones of Rush Properties, foreclosure is one of the most devastating financial burdens that a homeowner can face. The good news is that foreclosure can often be avoided. The options available to homeowners are many, but it is best to seek assistance as soon as possible since waiting may delay help and eliminate options.
Foreclosure prevention experts can provide a borrower with important information on how to create a plan to avoid foreclosure or minimize the impact, says Travis Jones, Rush Properties’ former president. Many lenders are willing to work with borrowers in order to help the homeowner avoid foreclosure, says Travis Jones of Rush Properties. Some offer a forbearance plan that may suspend or temporarily reduce a mortgage payment for a certain time. A loan modification involves changes to the original loan agreement. These changes usually result in a lower mortgage payment, states Travis Jones of Rush Properties.
According to the National Association of Realtors, prices for single-family homes rose 81 percent in the U.S. in 2012. Statistics also show that total home sales in 2012 reached the highest level since 2007. Now is the perfect time to buy a house, says real estate expert Travis Jones of Rush Properties. For the last few years, most of the country has been in a buyer’s market—a period marked by lower prices and excess home inventory. While conditions are still favorable for buyers, the market is starting to turn, says Travis Jones and Rush Properties.
According to Travis Jones of Rush Properties, this means more home buyers are competing for new homes, thereby creating a moderate sellers’ market. According to the National Association of Realtors, both home sales and home prices will continue to increase in 2013. Tight supply means that house prices will continue to rise gradually this year. And right now, even though inventory is down and prices are creeping up, mortgage rates are still at historic lows, says Travis Jones, Rush Properties’ former president.
Travis Jones of Rush Properties is an entrepreneur based in Olathe, Kansas with expertise in foreclosure real estate. Recently he answered a few questions about one complicated aspect of the subject.
Q: Travis Jones, it is well known that homeowners have rights in the foreclosure process, including one known as the “right of redemption.” What is that and what risk does it expose to buyers?
Kansas based foreclosure expert Travis Jones, Rush Properties’ former president, has been assisting homeowners with their foreclosure needs for more than 15 years. According to Travis Jones of Rush Properties, current homeowners should be prepared to learn everything possible about foreclosure. “Property redemption,” for example, is something everyone who carries a mortgage needs to understand, says Travis Jones of Rush Properties.