Lenders Halting Sale of Foreclosed Homes Will Impact North Central Florida
For some of us part of the American dream is owning your own home. But for thousands nationwide that dream has become a nightmare as homeowners face foreclosure. Bank of America's decision to halt the sale of foreclosed homes could effect homeowners and home buyers in North Central Florida. Buying foreclosed homes is a big part of the housing market. In Alachua County, about 1700 single family homes are currently for sale, and nearly 300 or 18 percent are already foreclosed or close to it, and in Marion County, over one-third of the all homes sales in September were foreclosed. So lenders halting sales on those properties could have a huge impact.
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