Wednesday, June 29, 2011

And so it begins

A recent news article in the South Florida Sun Sentinal points out that Wells Fargo and JP Morgan Chase are offering cash to some clients to encourage them to short sell their home instead of going in to foreclosure.

It appears big lenders are waking up to the fact the foreclosure process is taking longer and longer and that the cost to foreclose far outweighs a short sale.

This is a giant leap forward and if it catches on with all the lenders will clear up the backlog of distress properties a lot quicker.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com

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