Cash for Keys offer Sellers in Sedona AZ Home market to foreclose

Posted By Barbara Baker @ Dec 4th 2010 12:30am In: Sedona Real Estate

So selling Sedona AZ Homes in this foreclosure times is very interesting for a number of reason.  First, I have many seller's whose homes are worth less than what they owe, and because they have jobs and investments cannot do a short sale.  So they are opting out of "A Strategic Default".  A glorified way of walking away from their home or investment property.  But a Foreclosure is still a foreclosure and that is what it is.  Now, I know this is nothing new.  But here is where it gets interesting.  I have had seller's stop paying their mortgage and remain in their homes upward of 18 months.  RENT FREE.  Can you imagine?  And after the home has been foreclosed upon - the seller is offered an incentive to vacate the house in a nice condition and in a timely manner - "Cash for Keys".  No longer are they evicted after the bank owns the home -they are offered upwards of $3000K to leave the house.  Why not foreclose?  Gee - it seems to me the FEDS (who paid the TARP money to the lenders) and the lenders are rewarding bad behavior.  Instead of rewarding you and me.  The guys still paying their mortgages.  It seems to me they should offer us FREE RENT and a Tax Exception of $3000.00 to STAY in our home.  It almost appears like they want us to fail, they want us to foreclosure -otherwise - why would they make it so easy? For comments, sound off, or to answer questions about the Sedona AZ Home market you can email, facebook, twitter, website, or call me at 928-301-0669 

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