Tagged : short sale 
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Recent Information on Florida Foreclosures
Saturday, April 7th, 2012 at 6:48pm. 365 Views, 1 Comments.
A recent announcement from the Federal Housing Finance Agency confirmed that mortgage loan delinquencies in the State of Florida outnumber every other state except California. Currently, 166,000 homeowners in Florida have been delinquent on their loans for a year or more. In California, there are 174,000 total delinquencies. Some help has been given to delinquent homeowners and more aid is supposed to be coming.
In the State of Florida, there were 119,113 loan modifications in 2010 and 2011. Also, more than 56,550 short sales or deeds-in-lieu of foreclosure were facilitated. A short sale means that the proceeds from the sale of a home will not be enough to cover what is owed to the lender. The lender agrees to accept less than the amount
…Distressed Homes in South Florida - Boca Raton Real Estate
Friday, March 9th, 2012 at 10:14am. 393 Views, 1 Comments.
The housing market is again beginning to pick up in South Florida. Historically low interest rates and low housing prices are driving the surge in sales. It is still possible to purchase foreclosure homes and short sale homes at drastically reduced prices, but the supply is dwindling. If anyone is interested in buying a home at bargain basement prices, the time is now.
According to the “Bloomberg Report,” homes in or nearing foreclosure accounted for 24% of housing sales nationwide in the last three months of 2011. People are always looking for a bargain, particularly for such a costly purchase as a new home. Also, there has been a delay in banks disposing of foreclosed properties because of federal and state investigations into flawed
…Is a Boca Raton Short Sale Right for Me?
Friday, December 23rd, 2011 at 5:25pm. 950 Views, 1 Comments.
Buyers and investors are finding great bargains on Boca Raton short sales in most neighborhoods and price ranges. A short sale is a pre-foreclosure that has not gone through the formal Florida foreclosure process yet. Right now, a foreclosure is taking up to two years from the time it is processed. A short sale can be bought before the lender takes possession of the property with the seller’s lender’s permission. Since the owner is still in possession of the property, short sales tend to be in better condition that REO properties. While there is never a guarantee that the seller’s lender will accept a short sale offer, understanding how the process works and working with a local Boca Raton Realtor increases your chances of successfully securing a
