Bank of America Hosting a Short Sale Seminar - BofA Ramping Up For More Short Sales and Foreclosures?
Over the past year market values have increased in most real estate markets, and this is especially true in our working territories. This rise in home prices has also equaled a decrease in short sales and the incentive to pursue one, for various reasons.
But there is another angle that we believe is on the horizon. With rising home prices and homeowners not pursuing a short sale to cure their delinquent mortgages, banks are again realizing the benefits of the foreclosure and the spurring power of foreclosure.
If a delinquent homeowner is counting on rising prices to cure their problems while living mortgage and rent free in the meantime as opposed to short selling now, we believe banks and lenders are ready to go all 2008 on them and revamp the foreclosure wave.
And this is why they are pushing short sales and the process to the ones who conduct them like us, the Beaumont CA REALTORS, real estate agents and real estate brokers who process short sales. With this seminar, and probably more to come (yes, I'm aware they've done them before) they can encourage some delinquent home sellers to finally short sale, and they can just foreclose on the rest.
By the way, the online seminar is next Thursday, September 5th, at 4pm Eastern time. Here's a link to details on Inman.com.
This is just our thoughts and prediction of where the market is headed. What's your thoughts?
Comments (0)Subscribe to CommentsComment