Foreclosure stall hits Daytona Beach

Real Estate Sales Representative with Prudential Transact Realty

We read about it earlier this week. We heard it on the news. And yesterday I had to call my Daytona Beach customer, who had just received notification that his offer was the one accepted by BOA, that the property was withdrawn. A judge's order had determined that the foreclosure procedure was faulty. This bank like many others must go through the process of foreclosure again, making sure that procedures are followed at each step. Charges of rubber stamping of documents by bank employees created the mess and we'll all end up paying for it-again.

My customer will probably have the opportunity to resubmit his offer when the bank puts the property back on the market and it will probably be accepted. But he's not happy; I'm not happy; and the property will continue to degrade while we all wait.

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