My South Florida Real Estate Blog

Several articles in the paper recently say that Bank of America, Ally and Chase are not going to do foreclosures until they get their paperwork straight.  Apparently their employees have been signing paperwork as if they had knowledge of the cases, when they did not.  Some title companies say they will not insure foreclosures because no one knows if the title is correct or not.

Does that make pursuing a short sale a better option for the homeowners in trouble?  Well, in my opinion a short sale has always been a better choice.  The consequences in the end are usually much less for the seller in a short sale than in a foreclosure.

Do you think the banks will work harder on short sales now to at least be getting something off their books?  Sure hope so!  It would be great if the banks turned the properties around in 30-60 days rather than 90-180!!