What Happens When Homeowners Leave Their Forbearance Plans?

posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday January 29, 2021

According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now:

2,543,000 (39%) are current on their payments and have left the program
625,000 (9%) have paid off their mortgages
434,000 (7%) have negotiated a repayment plan and have left the program
2,254,000 (35%) have extended their original forbearance plan
512,000 (8%) are still in their original forbearance plan
116,000 (2%) have left the program and are still behind on payments

Smart Buyers and Smart Sellers: Class #3 "The Contract"

posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday January 1, 2021

George Sykes, Real Estate Broker with Worth Clark Realty details what every real estate buyer and seller should know about the "Contract To Purchase Real Estate". Buyers and Sellers owe it to themselves to watch this video before they sign their next real estate contract. Understand what you are signing. George Sykes is a licensed Real Estate Broker in Southern Illinois and represents clients in edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh and belleville.

Smart Buyers and Smart Sellers: Class #2

posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday December 18, 2020

Class #2: The Listing Agreement

In Smart Buyer and Smart Seller Class #2, George explains what exactly goes into a Listing agreement. This document details key elements of a real estate sale like Price, Commissions, Timing, what stays with the house and Disclosures. If you are selling a property in the Southern Illinois area (edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh, belleville) this course is a must see before you list.

Smart Buyers and Smart Sellers: Class #1

posted by: George Sykes, Managing Broker, Worth Clark Realty on Monday December 14, 2020

Real Estate Master Class: Smart Buyers and Smart Sellers

Class #1: Must See Class for Anyone Buying and Selling a Home

Join George as he teaches homeowners, buyers and sellers what they should know before buying or selling a property. This Free Class explains the timeline for both the buyer and the seller and creates a foundation for the "Smart Buyer Smart Seller Real Estate Master Class" series.

Local Special

Don't List Your House, Sell It!

posted by: George Sykes, Managing Broker, Worth Clark Realty on Tuesday December 8, 2020

Isn't that the goal: To Sell your house? I have several ways to help sell your home. Everyone has different reasons to sell. Maybe you are not in a hurry and need the most out of the home, but, maybe, time to close is the most important factor. You may even be in a bit of a hybrid situation where you want the most, have some time, but have a firm deadline you want to be out of your home. Let's use all the options. For more information, go to my website:

Homeownership Helps the Local Economy

posted by: George Sykes, Managing Broker, Worth Clark Realty on Saturday November 28, 2020

Each real estate transaction makes an impact on the local economy, which is a major part of why the housing market is a driver in this year’s economic recovery. This winter is a great time to make a move, so DM me if you’re ready to support our community and find your dream home today.

Your House May Be High on the Buyer Wish List This Holiday Season

posted by: George Sykes, Managing Broker, Worth Clark Realty on Thursday November 26, 2020

Around this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why selling your house now, or keeping it on the market this season, is the best choice you can make. This year, buyers want to purchase homes for the holidays, and your house might be the perfect match.

Here are seven great reasons not to wait to sell your house this holiday season:

Why Working from Home May Spark Your Next Move

posted by: George Sykes, Managing Broker, Worth Clark Realty on Monday November 16, 2020

If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.

Do You Need to Know More about Forbearance and Mortgage Relief Options?

posted by: George Sykes, Managing Broker, Worth Clark Realty on Monday October 19, 2020

Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need.

First, there was a pause placed on initiating foreclosures for government-backed loans. This plan started on March 18, 2020, and it extends at least through December 31, 2020. Second, homeowners were able to obtain forbearance for up to 180 days, followed by a potential extension for up to another 180 days. This way, there is a relief period in which homeowners have the opportunity to halt payments on their mortgages for up to one year.

The Cost of a Home Is Far More Important than the Price

posted by: George Sykes, Managing Broker, Worth Clark Realty on Tuesday September 29, 2020

Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported: ...