FDIC launches foreclosure prevention initiative
Instead of another "hope" program that has had little to no success so far, the FDIC has launched a foreclosure prevention initiative including stopping the many "foreclosure rescue scams" that promise false hope to consumers at risk of losing their homes. Let's hope that more loan modifications are successful so that troubled borrowers can save their home from foreclosure.
The flip side of the story is the many buyers and investors who are taking advantage of foreclosures in order to get a good deal on a home. While a foreclosure is a tragedy for the family that is losing their home, it does present a good buying opportunity for those who are looking to buy or invest in Charleston real estate. To view foreclosures for sale in the Charleston area, click here and contact me for help buying a lender owned home or (two) that you might like.