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Kalis & Kleiman Informs Homeowners of Downward Trend in Foreclosure and Increase Short S

According to RealtyTrac, foreclosure activity is at its lowest level since July 2007. A key reason for the decrease is that banks (lenders) are increasing using short sales.

 
PRLog - May 18, 2012 - Contact
Scott Kleiman, Law Firm of Kalis & Kleiman
skleiman@kaliskleiman.com
(954) 791 – 0477
Kim Sailer, BARD Marketing/PR
ksailer@bardmarketing.com  

Law Firm of Kalis & Kleiman Informs Homeowners of Downward Trend in Foreclosure and Increase Short Sales  

According to RealtyTrac, foreclosure activity is at its lowest level since July 2007. Foreclosure filings also fell year-over-year. One out of every 698 homes in the U.S. was hit with a foreclosure filing in April, a 14 percent decrease from April 2011. The number of properties repossessed by banks declined 7 percent from March and 26 percent from April 2011.

A key reason for the decrease is that banks (lenders) are increasing using short sales. A short sale (http://www.kaliskleiman.com/Real_Estate) is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than proceeding with foreclosure.

Bank of America recently launched a nationwide program that pays homeowners as much as $30,000 to complete short sales. To qualify for the national program, a seller must work with Bank of America to obtain a pre-approved price prior to submitting an offer from a prospective buyer. The short sale must be started by the end of 2012 and close by Sept. 26, 2013. Also, Bank of America must own and service the mortgage.

Is a short sale right for you? KALIS & KLEIMAN recommend that you should always consult with an attorney as soon as possible to discuss your options including, without limitation, loan modification, short sale, deed in lieu of foreclosure and bankruptcy. Each situation is unique and should be handled on an individual basis.

Homeowners facing foreclosure or that have been evicted from their home, should seek sound legal advice and counsel. KALIS & KLEIMAN, P.A. are recognized and experienced Real Estate and Foreclosure Defense litigation lawyers. Neal R. Kalis, M. Scott Kleiman and Olga Ruiz Baken are not only lawyers, but also trusted counselors and advocates. The firm’s personal attention to its clients’ needs and desired results produces a customized approach that this firm delivers to each case. Neal and Scott are AV-rated, which indicates that an attorney has reached “the height of professional excellence” and is recognized for the “highest skill and integrity.” They have more than 50 years of combined experience, and they have participated in thousands of transactions, settlements and trials. KALIS & KLEIMAN will help you through the entire process in order to help you reach an outcome that is the most beneficial to your future. KALIS & KLEIMAN has earned a reputation of legal excellence and a history of successfully managing real estate matters and foreclosure cases.

The law firm of Kalis & Kleiman focuses on Commercial and Real Estate Law. The firm was founded in 1996 and is headquartered in Davie, Florida, at 7320 Griffin Road, Suite 109. Attorneys, Neal Kalis, M. Scott Kleiman and Olga Ruiz Baken can be contacted at 954.791.0477. Additional information about the law Firm of Kalis & Kleiman may be obtained from the firm's website at http://www.kaliskleiman.com or on Facebook at http://www.facebook.com/KALISKLEIMAN.

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Source:BARD Marketing
City/Town:Davie - Florida - United States
Industry:Real Estate
Tags:kalis kleiman, foreclosure, short sales
Shortcut:prlog.org/11878693
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