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All Posts Tagged Tag: ‘benefits of short sales’

The Benefits of a Short Sale

The foreclosure process is a frightening situation. Not only can it be a long, drawn out process, it can also be severely damaging to a homeowner's savings, assets and credit. In today’s day and age, it's tempting for some homeowners to just throw in the towel in defeat and allow the bank to seize their home in order to avoid the embarrassment, stress and social stigmas that are associated with foreclosure. There are other options though, such as a short sale, that provide more benefits to a homeowner than they would get by simply walking away. A short sale is a transaction in which the bank lets the delinquent homeowner sell the home for less than what's owed. The borrower finds an...

Banks See the Benefits of Short Sales, Giving a Boost to Florida’s Real Estate Market

Banks are rapidly realizing that approving short sales is not only better for the borrower – it’s better for their own bottom line. The Sun Sentinel reported that short sales are overtaking foreclosures for the first time in more than a year in many parts of Florida, including Palm Beach County. In fact, for the first quarter of 2012, this area had only 1,369 foreclosures, compared to 1,777 short sales. That is a 39% increase in short sales for Palm Beach County compared to the prior year. In the state, overall short sale numbers are up by 18%. This is further evidence of analysts’ opinions that the Florida real estate market is gradually starting to heal. The change in philosophy...