Fort Myers Foreclosures, Why so many?

Fort Myers Foreclosures, Why so many?

Yes unfortunantly their is quite a large number of foreclosures in the inventory and then there is an even larger number of back inventory yet to be leaked.But why are there so many? Some disclose that the banks were so overwhelmed by it that they couldn't put the pieces of the puzzle fast enough to help these people out with short sales. And informing these individuals that they could save a lot time and worry by doing a short sale. Truth is Some banks now have realized that it is better to have someone in the property rather than letting it sit vacant. Leaving it vunerable to damage by vandelism and having the home stripped of all appliances, lighting, water equipment, A/C equipment and so on. Which is an obviouse plus to the resale value. But not only that can help the people owning the home.

How will a shortsale benefit the homeowner? Just for starters, it can help there credit situation out substantially. A lot of the times the banks can be negotiated on terms to have the deficiency waived. What does that mean? While it will still show up on your credit its not near as damaging, with having the deficiency waived instead of showing say $120,000 owed it will show zero owed. Doing a Short Sale also benifits you for when you do get back on your feet and are ready to buy a new home. It allows you the possibility of buying a home as early as 2 years, but with a foreclosure I have heard numbers no earlier than 7 years till you would be able to buy again.

Also I should ad that Some Banks not all of them, Are helping people out with relocation money. For example one of our clients was awarded 25,000 for doing short sale and I have heard numbers as high as 40k, Pretty crazy right.But again that doesn't happen all the time and differs between banks but if it was me, You are darn right I'd be asking my bank about it.

So to all that are in Foreclosure and can't see the light at the end of the tunnel there are opptions you just need to talk to the right person. If your are int he Fort Myers area and are one those people or know some one in that possition contact me and lets see if we can help you.