Florida foreclosures

(February 16, 2012) If you speak to one of the many REO listing real estate agents in the Central Florida market you will no doubt hear that they are waiting for a deluge of new REO listings that the banks are about to release. Speculation runs from any day now to sometime this summer.

The recent settlement with several large lenders and States could open the door to the banks increasing their taking of property in default through the foreclosure process which will add to the list of Florida foreclosures hitting the market. While this is not good news for those homeowners behind on their mortgage payments, first time home buyers and investors are sure to benefit from this new crop of foreclosures as a "deluge" would most likely keep home prices in the area very competitive.

Call me at 407-304-0255 for more information.