Magnolia Lakes Foreclosures
With the recent news Bank of America and GMAC are going to start pushing through with foreclosure proceedings, we are going to (again) see many new Magnolia Lakes foreclosures on the market.
When the banks announced the foreclosure freeze, this was one of the worst possible scenarios for the recovery of our economy. Just think about it, people living in their homes for free…not paying and not being evicted. Here are some of the reasons why it is so important to keep foreclosures going:
1.) Let’s face it, our economy is stabilized by the housing market. When houses are selling, people are spending money on many items, including using small business contractors to do work.
2.) Foreclosures are the best deal on the market. You can purchase a Magnolia Lakes foreclosure for below market value, because it is a distressed sale. This gives buyers incentive to purchase real estate – exactly what our economy needs.
3.) Consumers are scared of foreclosure freezes. By initializing a freeze, the banks are saying “Wait, there is something wrong here.” These actions by the bank give doubts to consumers about purchasing foreclosures. Even though consumers are protected with title insurance, they become afraid a previous homeowner could come back and try to get their home back.
With the announcement of the banks proceeding forward with foreclosures, you will see the housing market start to stabilize a bit. Foreclosures will remain the best deals on the market.
Also, here is the full list of Magnolia Lakes homes for sale. It usually has some great deals on it, especially when one of the occasional Magnolia Lakes foreclosures comes on the list.