STRATEGIC FORECLOSURES ON RISE

"Strategic" mortgage defaults (people who "walk away" from a mortgage they can afford to pay) are on the rise.This week FOX News did an interview with the CEO of HomeFlux and 1-800-CashOffer on the rise of strategic defaults, and how many of the people we talk to each month are considering it as an option. Most people doing "strategic" defaults would be much better off selling their home via a short sale through an experienced real estate agent. The banks are in much better position to expedite and approve short sales now. We haven't lost one approval! They would rather take a loss on your mortgage than to incur the expense of foreclosing and then selling it again. Give me a call if you are thinking of a strategic default or short sale.