Albuquerque Short Sale May Be An Option To Avoid Foreclosure
An Albuquerque short sale may be the right option for many home owners looking to avoid foreclosure. Many Albuquerque home owners are facing foreclosure increases as Albuquerque foreclosures are expected to increase 151% from second quarter of 2011 to the third quarter 2011.
This increase is the highest increase of all major metropolitan areas in the US. There are 1358 home owners facing foreclousre according to this recent Realty Trac article. Albuquerque tops the 20 markets where banks are starting to push through a new wave of foreclosures to help clear a backlog of distressed properties. After five straight quarterly drops, default notices that start the foreclosure process increased 14 percent nationwide from the second quarter to the third quarter of 2011, signaling that another wave of foreclosure activity is beginning in many parts of the country. Although this wave will probably not crest as high as the foreclosure wave of 2007 to 2010 that resulted in more than 3 million home owners losing their homes to foreclosure, it comes on the heels of a temporary lull in foreclosure activity caused by foreclosure processing delays over the past year. This new wave of foreclosures is hitting the Albuquerque market particularly hard.
Home owners are in need of help and an Albuquerque short sale may be the right choice for home owners to avoid foreclosure. Contact John Myers at 505 401-7500 to discuss foreclosure avoidance alternatives if you are struggling to make your mortgage payments. As a Certified Distressed Property Expert, I can help you avoid foreclosure with an Albuquerque short sale. I have received extensive training in foreclosure avoidance techniques such as short sales. An Albuquerque short sale has significant benefits over an Albuquerque foreclosure.