Foreclosure Rates and Short Sale Frequencies Likely to Rise Along Alabama's Beaches.
The number of foreclosures and short sales are expected to rise on the Alabama Gulf Coast due to BP oil disaster in the Gulf of Mexico. A market that was showing the early signs of stabilization, is likely going to be pressured into a downward spiral by property owners in distress from a lack of rental income and who have no other choice but to give their second home and investment properties back to the bank.
Short Sales are likely to become more prominent in Gulf Shores and Orange Beach, as it is in the best interest of the property owner in terms of the hit to their credit score and the process reduces the financial loss to the bank holding the note.
The hotlink below will allow you to monitor distressed condo prices in Gulf Shores, Alabama.
- Search Gulf Shores Condo Foreclosures in Gulf Shores, AL
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