Florida Lenders Loving Short Sales Now

by Isaac Benmergui, Esq on April 25, 2012

Banks used to see short sales as tedious, bothersome tasks they’d rather not offer a homeowner, and instead simply take the home back through the foreclosure process. Now, banks may offer tens of thousands to the homeowner just to relinquish the property, which allows the banks to turn the property around sooner and get back to making a profit on a mortgage with interest.

Under the new “cash-for-keys” incentives, homeowners can walk away from their mortgage with a cash payment in hand just for leaving. Investors in short sale properties are buying more of distressed homes currently on the market, with a sales growth from 25.9 to 30.6 percent over the same six-month period from last year. Investors are turning out to be the most likely purchasers of short sales, as individual homebuyers would rather be able to haggle price and maintenance before signing a contract.

If you’re looking to buy a short sale property, call the law offices of Isaac Benmergui. Attorney Benmergui can help ensure you receive free and clear title to your property; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

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