Just read this little nugget over at CNNMoney.com, “The foreclosure problem is widespread but reaches plague proportions in 10 states; those hardest-hit areas account for 77% of all foreclosure filings. California had more than any other state with 92,249 – nearly 29% of all U.S. filings.” But wait! Before you grab your inhaler you should know that banks are easing up on foreclosures because they want people in the homes, “Vacant homes are subject to vandalism and looting and often quickly lose whatever value they have.” Maybe the banks are finally thinking smart, because this is the very same reason many people are leery about purchasing a foreclosed home.
It is the opinion of many, including San Diego Realtor Dawn Lewis, that short sales don’t
typically face the same issues, “The homeowner wants their home sold before the bank forecloses on it and in most cases will have it well kept during the short sale process and in many cases be living in it.” Always remember to do your research when making any sort of
substantial financial investment, including purchasing a home.
Minda Reves is a freelance blogger for SHORTsense.com