Why Banks Can’t Unload the Foreclosures They Have

By
Real Estate Agent with Long and Foster Real Estate Inc.
If you have gotten to the point where you are contemplating foreclosure, you will need an experienced top Maryland real estate agent [http://www.homes-database.com/about/] to help. The same is true if you think you want to buy foreclosed Maryland property [http://www.homes-database.com/foreclosed/]. The foreclosure process has never been simple, but these days, the banks are not reacting quickly and there is more red tape than in the times when foreclosure was something few people knew about. Many foreclosure cases remain unresolved with more being added daily. With so many people in financial hot water and unable to afford to keep up with payments and maintenance on their homes, you would think that there would be more of an effort to assist these people so they could be relieved of their burden. What some don't realize is that, whether it is justified or not, banks feel as if they are being burdened as well. Even if the banks as corporate entities are not actually overwhelmed, the individual workers at these financial institutions certainly feel that way. (This is evidenced by the scandal of some workers pushing record numbers of foreclosures through without really examining documentation.) In some cases banks are not swooping in to take over a property; instead they are just letting the owners who do not pay just remain there. Some banks reason that if they just sit tight, and don’t rush in to take over distressed properties, then the economy will get back to normal and people will pay again. And to be fair, the laws are more complicated so more resources are needed to complete the process than process than before. Whether you want to buy foreclosed property or start the foreclosure process, you need an expert at your side who has your interests in mind and who has dealt with banks on these matters before.
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John Day agent

CRS,GRI,SFT

Long and Foster Real Estate

Annapolis, MD 21401

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