Found 1 blog entry tagged as foreclosure crisis.

South Florida home sales are threatened as banks freeze foreclosures

Another snag has hit the already the troubled housing market throughout the US and particularly in South Florida, including the Boca Raton, Delray Beach, Highland Beach and Boynton Beach real estate markets in which our team specializes.
Because of a myriad of legal and paperwork issues, many banks have halted the sales process of their REO (real estate owned) bank owned properties while the investigation into the improper actions takes place. This is leaving many pending sales in limbo, including several pending contracts that we are working with. More banks are threatening to follow suit and freeze their pipeline of foreclosure sales as well.
Many of our clients are investors, and are…

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