Treasury Short Sale Initiative Helps Housing

Treasury Department proposals to streamline the Short Sale process are a
welcomed development by the real estate industry. Cash incentives will now be
offered to lenders and homeowners who successfully complete a Short Sale. The
foreclosure alternative, which could have a beneficial impact on record high
housing inventories, has been a frustration to home sellers, buyers and real
estate agents.

With all its benefits, a combination of challenges has prevented all, but one in
10 Short Sale offers being rejected by lenders, who have been taking an average
of nine weeks to make a decision. As a result, 70% of homeowners facing
foreclosure never even attempt to sell their home. This situation has added more
foreclosures to the record high inventory of homes on the market and has lowered
home values even further.

Under provisions of the newly created "Foreclosure Alternatives Program";
eligible homeowners can be accepted through December 31, 2012, and the Short
Sale process will be streamlined with standardized documentation, cash
incentives to lenders and a moving allowance payment to the homeowner.

Analysts say the housing market can't return to normal as long as prices keep
falling, due to high inventories. Short Sales can play an important role in
reducing the current high inventory levels. RE/MAX International is committed to
creating an awareness of this viable alternative to foreclosure and to training
real estate agents who offer a professional Short Sell service to the consumer.