Is Time Up For Short Sales?

Is Time Up For Short Sales?

In the past 60 days we have noticed banks have become extremely reluctant to postponeĀ  foreclosure sales. In fact, even when a seller or their Attorney went to court and asked the judge for time they were only willing to give them 30 days.

This is a major problem for any homeowner who has been living in a property without paying thinking that when the bank comes knocking they will give them time to complete a short sale to avoid foreclosure. It just may not be the case anymore.

After experiencing this we decided to do some research to see if this was isolated to clients that we were working with or becoming the new norm. According to one site we found that tracks foreclosure sales in Palm Beach County, in March of 2014 Foreclosure completions were up 61.2% from March of 2013. This foreclosure statistic proves to us that this could be a new norm and time just may not be on the side of homeowners not paying their mortgage anymore.

For anyone in this situation…We suggest they start doing some research on what having a foreclosure judgment recorded publicly against them actually means and become fully aware of the consequences of being foreclosed on.

For those ready to take action now the Government has created a short sale program called the HAFA program that helps a homeowner avoid foreclosure and sell their property with NO Deficiency.

For more about the HAFA Program Call us at 1-888-262-6933 and we would be happy to explain or Download our Free Short Sale Guide that fully explains the HAFA Program and its benefits.