Lenders Find Alternative to Flooding Miami’s Market with Foreclosures

by Isaac Benmergui, Esq on July 15, 2012

The ‘shadow’ inventory of foreclosed homes waiting to flood Miami’s housing market, threatening to bring growth to a screeching halt, may not occur. Lenders are finding alternatives to outright market sales.

Facing pressure to dump problem properties and loans, banks are looking to sell the loan notes to experienced real estate investors who can choose to foreclose upon them or not. Investors have more opportunities to work out an arrangement with the homeowner, whereas banks, because of federal regulations, cannot. And many banks, simply do not want to go through the expense of a foreclosure, only to have to put the property back on their books and have to resell it. An experienced investor is going to have the knowledge needed to take over the property and banks won’t put themselves at risk a second time for a foreclosure.

Getting Legal Help

If you’re looking to buy your new home or have had your loan transferred to an investor, call the law offices of Isaac Benmergui. Attorney Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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