Oppenheim Law saved its Florida clients $16 million in the form of waived deficiencies within the past 24-month period, with the majority in the last year
WESTON, Fla., Aug. 30, 2011 — Real Estate Attorney Roy Oppenheim said 2011 would be the year of the short sale, and it is! Numbers are up for Florida short sales, also known as a pre-foreclosure sale.
The strategy of getting banks to approve Florida short sales is working for Oppenheim Law's Florida foreclosure defense team. The 22-year-old Florida real estate law firm reports that approximately 80 percent of its closed short sales received a complete deficiency waiver. Oppenheim Law saved its clients $16 million in the form of waived deficiencies within the past 24-month period, with the majority in the last year.
By working with the buyers, sellers, Realtors and convincing the banks to not only approve a short sale but also avoid a deficiency judgment, Oppenheim Law helps homeowners craft their own real estate bailout.
"We are seeing banks focus on more efficiently clearing distressed inventory through more streamlined short sales," said Oppenheim, legal blogger and expert source to real estate media. "The best part is that we have an exceptionally high success rate for convincing the bank to release our clients from a deficiency."
In line with recent news reported by RealtyTrac, short sales increased 19 percent in the second quarter of 2011, accounting for 12 percent of all sales nationwide while the number of bank-owned (REO) sales remained flat according to the Q2 2011 U.S. Foreclosure Sales Report.
"The short sale program is not a government bailout; it has evolved through American ingenuity," reminds Oppenheim, "but is one of the only programs that is truly working."
According to RealtyTrac, banks may have finally realized the benefit of selling distressed properties through a short sale instead of letting the property go through the full foreclosure process.
"Since Florida is in the top 10 list of foreclosure rates in the United States, Florida homeowners need all the legal guidance they can get," says Oppenheim.
The good news: Despite the large numbers of distressed home sales, fewer homes are coming on the market.
Check out the video: How to do a Florida Short Sale by Roy Oppenheim
Join Oppenheim Law at http://Facebook.com/OppenheimLaw.
2500 Weston Rd Ste 404 – Weston FL 33331 – 954-384-6114
Contact:
Lisa Buyer
954-354-1411 x 14
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