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I'm certain every has heard by now that foreclosures by The Big 4 are currently suspended due to unverified foreclosures recently. I'm in a rather large metro area in Tampa but so far this week just in 3 counties, we've had 850 REOs withdrawn and it's only Wednesday! What a mess.
Thanks Mike. No disrespect intended but I wanted to hear opinions from other RE Professionals and the impact on our business which is why I posted on this forum.
Thanks Mike. No disrespect intended but I wanted to hear opinions from other RE Professionals and the impact on our business which is why I posted on this forum.
Oopsie! None taken... I'll quietly slither back to lurking!
I just pulled all terminated foreclosures since Monday and there were 4. They were all on the market for a really long time so I'm thinking the banks are taking them to auction and it has little to do with the current mess.
My city has 13% of our listings as foreclosures, so I don't think this issue will impact my particular area greatly.
I just pulled all terminated foreclosures since Monday and there were 4. They were all on the market for a really long time so I'm thinking the banks are taking them to auction and it has little to do with the current mess.
My city has 13% of our listings as foreclosures, so I don't think this issue will impact my particular area greatly.
68 here. (I think that was the number ... I pulled it this morning.)
I can't imagine being in the middle of a deal and having the carpet pulled out from under you though.
I haven't noticed a difference yet, but we've had some removed from the market. I'm hoping we can move some of the resales while they are off, but too soon to tell.
Since Oct 1, only 1 foreclosure in my market has been withdrawn from the market... and it was on the market for 203 days.
That's like the ones here...300+ days, etc.
Texas is a primarily Trustee state like Oregon, right?
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