Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Foreclosure in Tenderloin : Real Estate Advice

  • All11
  • Local Info1
  • Home Buying1
  • Home Selling0
  • Market Conditions2

Activity 1
Sat Mar 23, 2013
blaison samuel answered:
It basically means that the banks suspend the foreclosure proceedings. It's good for the homeowner who are facing foreclosure due to financial difficulties, at least they will get a chance to work with the bank for any alternatives like loan modification or short sale to avoid foreclosure from their credit.

It will also help the housing market to recover quickly and the house value will also be higher. Foreclosed properties are sold less than the other type of properties and bank also lose more money with the foreclosure proceedings. Overall, I would say the housing market will improve with less and less foreclosed properties on the market, which is already happening in this market.
... more
0 votes 2 answers Share Flag
Search Advice