It is sad that homes are sold at auction in Palm Beach County...

The interesting thing is that it didn't have to happen.  I think that the past has caused Palm Beach County homeowners to think there is an unlimited amount of time before foreclosure happens.  And in the past, that was true.  So what has changed?  There are several reasons why foreclosures are happening faster.  First the settlement with the banks have freed them up to move forward.  The second reason is that the judges and banks are less likely to delay pending sale dates.  In the past, delays were expected, today it is not a given.

So what do you need to know to help you avoid foreclosure?  You need to take action as soon as you know you have an issue.  Time is not something that you want to run out of when you are attempting to avoid foreclosure.  Sometimes, we need to be able to do the short sale process twice.

What else is important?  This is something that could be a deal changer, the Mortgage Forgiveness Act ends at the end of 2012.  So what you say.  No this is big.  If you have a primary residence, this could have a huge tax implication.  Will it be extended?  We don't know and won't until it is about to expire. Is it worth the risk?  Most would say no.  What does this mean?  You need to take action now as the average short sale takes 4 months so we need to find a buyer now and push to stand a chance.

Are you wanting to avoid foreclosure?  Listen to our recent show about short sales and avoiding foreclosure and get all of the Palm Beach County short sale answers you desire.

Your Palm Beach County Short Sale Team is here to help you avoid foreclosure.  Call us to meet at 561-352-3056.