BiggerPockets

^{Quick fix  http://www.orlandosentinel.com/news/local/os-foreclosures-court-auction-20100202,0,1698353.story  Solving the foreclosure crises and stop collapsing values is very simple, no need to change the law and kick people out, most of them are willing to leave in an orderly way if the lenders would just be willing to make the process more orderly.  Right now in Orange County there are 7,771 properties listed for sale as a short sale on the Orlando MLS. These are willing owners of homesteaded and or investment properties who want to sell, so there is no need to kick them out by eviction.  3,700 of these properties are pending for sale and have a contract from a buyer willing and able to go ahead and buy. The average day on the market for these properties is 131 days, over 4 months. If the banks would speed up the short sale process and not drive away willing buyers who want to buy, it would stabilize the market and it would get more buyers into the market. There is a process to get these homes off the books but buyers are sick and tired of waiting a year or more in some instances to get a decision from the banks. Real estate agents are sick and tired of this  insane process of lost files, of waiting on the phone for hours, being disconnected to only get a no answer or better yet, get a yes answer form the first mortgage holder and a no answer from the 2nd mortgage holder (even though they are from the same mortgage company). Get this process cleaned up before kicking people out of their houses, people who are willing to sell but being hindered by their own lenders. I have seen lenders deny a short sale and then foreclose and selling the property months later 30% less.  Imagine the wasted money of paying for a foreclosure attorney, the delay in the property loosing values, the losses on HOA fees, the negative impact on the seller’s credit, the losses in income for the county and the state and on and on, while there is a wiling seller and buyer ready to take over the property only to get the property foreclosed on. This makes no sense at all; fix this huge problem before starting something new. Check us out at www.Orlandoshortsaleblog,com}