What's Happening With Bank Owned Homes?

November 27th, 2009 categories: Foreclosure, Real Estate News

 Have you noticed the decline in bank owned homes for sale in Sacramento? It seems the banks must go through some hoops before they can foreclose on a house or condo if they accepted Tarp funds. Each homeowner must be given an opportunity to apply for a loan modification and not everyone qualifies. This does slow down the process of the foreclosure since the banks are not known for their speedy process.

The banks have what is referred to as Shadow Inventory, 7 million nationwide according to DSnews.com article New Housing Crash…

Did you know that 1 out 4 homes are worth less than the outstanding mortgage?

Bank owned homes will continue to trickle in slowly.  You can always look at bank owned homes for sale, choosing the county and city you are interested in and then selecting bank owned or short sale or traditional sale at Search for Homes

Be sure to check back here for more holiday fun added as we go into December.

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If you have a real estate question that you would like an answer to by Gena Riede, Sacramento Realtor ® specializing in helping home buyers and home sellers be sure to check out and read what other home buyers and home sellers have asked and feel free to ask your Real Estate question by email.   Perhaps, your question will be part of the next article featured on Sacramento REAL Estate Voice

This entry was posted on Friday, November 27th, 2009 at 5:30 am and is filed under Foreclosure, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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