Tampa- Banks incentive program to borrowers cause spike in short sale

Short sales are a lenders best friend! Only until recently, Lenders are starting to embrace the idea of Tampa bay short sales.

In the past three years, there has been a 350% increase in the amount of homes sold through short sale, according to Corelogic’s most recent numbers.

How are banks benefiting from this?

Banks benefit because it decreases the large amount of foreclosures, alleviating the court systems of back logs related to foreclose cases pending.

In a short sale, there is a seller & buyer.  The seller gets out of their home, often with a cash incentive to help with relocation expenses, and most banks do not hold a deficiency judgment against them.

The buyer gets a nice home at a very reasonable cost and  neighborhoods do not suffer from run down or vacant property.  Therefore, the bank is satisfied as well as cultivating economic stability and growth.  Everybody wins!

If you fear you are in danger of losing your home, don’t hesitate.  Think Quick!  Call Blick!  Our real estate department is ready to counsel and guide you towards your best option for you and your loved ones. Call us today at 813-931-0840 and receive a free consultation! Just mention this article!

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