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Blog by Benito Realty Group

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Foreclosure Freeze Slows Home Sales

A very interesting article on foreclosures. Here are some excerpts from the article.

"The decision by three major banks to freeze foreclosures will buy distressed homeowners months of extra time and temporarily block lenders from reclaiming homes."

"But it also threatens to buckle South Florida's home sales."

"As the foreclosure moratoriums play out, a slowdown in low-priced, bank-owned properties coming through the pipeline could further hamper sales in South Florida, which depends on foreclosures more than most parts of the country."

To continue reading the full article click here.