For the first time ever short sales have surpassed foreclosures in sales according to a recent report by LPS (Lender Processing Services) who tracks them.
Finally the banks are starting to get it. Maybe (sorry I just think they make it way too complicated still).
Perhaps they have finally read my blogs and comments over the past 4+ years or listened to my radio show (you can too by tuning in here).
According to the LPS as reported in an article in Bloomberg – “Short sales accounted for 23.9 percent of home purchases in January, the most recent month available, compared with 19.7 percent for sales of foreclosed homes, data compiled by the Jacksonville, Florida-based company show. A year earlier, 16.3 percent of transactions were short sales and 24.9 percent involved foreclosures.”
This is a great sign for entire economy as the strain on all of our support systems caused by all of these foreclosures is easy to see from “that house” on your block that is abandoned and overgrown to the court systems (in Florida it takes almost two years for the average foreclosure to run its course).
But what is even better about this is there is plenty of help and assistance for homeowners that are in distress. Don’t get me wrong, if you are behind in your mortgage and don’t have the ability to make up the difference or have been turned down for a modification then you will have to short sell to avoid foreclosure. That’s reality.
What I am referring to are the great programs out there for most people that are owner occupants including the Treasury Department’s HAFA program (click here for more info) that can get you away entirely from your debt AND give you up to $3k for relocation expenses. Even some investors can now qualify for HAFA!
The sooner you take action and contact someone like myself at Rescue Florida Realty who has years of experience in successfully Helping Good People Out of Bad Situations the sooner you can move on with your life and rid yourself of the stress of the current situation you are in.
For a free confidential consultation call me at 772-323-2722 and don’t forget to get my report for free on how to avoid foreclosure.
Don’t be part of the 19.7 percent reported by LPS be part of the 23.9 percent that have short sold their home and moved on free of the stress and possibly of the debt!
Read the entire Bloomberg article here.