Short Sale on the Rise This Summer

Experts are saying there will be an uptick in the number of short sales for distressed properties throughout the next few months. The short sales market is expected to hit an all-time peak this year, because bankers are realizing short sales are better than foreclosures. The local Jacksonville moving specialists remind you that a short sale is underwater homeowners selling their houses despite owing more on the mortgage than the property is worth. Many banks are now choosing to forgive the remaining debt on the mortgage, which in the past was still owed to bank/lender/. The local Jacksonville moving specialists learned the Obama administration is really supporting this idea of short selling properties and has put in place a few programs to help make the transition. For example, in the past, a loan amount forgiven used to count as taxable income, but these days it's no longer the case. Due to new reports regarding the first quarter of 2012, the number of short sales increased 25% and was at the highest level in three years.


Are you going through a short sale yourself? Will you have to move to a new home? Consider the local Jacksonville moving specialists for an affordable moving quote and reliable movers. The All My Sons of Jacksonville are part of a huge network of professional movers with countless moving offices across the U.S. The Jacksonville movers deal with everything from commercial moves to long-distance moves as well as auto moves.