FRT Targets Foreclosed for Sale in Washington DC

Established last May 2008, the Foreclosure Rescue Team has been dedicated in its objective to hasten transactions of foreclosed for sale, including commercial and residential properties. In its latest efforts, the team of real estate professionals will be heading to DC in Washington to try and work their magic in the foreclosure- ridden city.

The Florida-based realtor network is an expert in the sales as well as marketing of foreclosure properties. In addition, they are also known to provide loss mitigation services, acting as a third-party resource that provides assistance to buyers, homeowners and even real estate agents with their short sale and foreclosed for sale transactions. It currently has offices in Michigan, Georgia and Florida.

With its planned expansion in the Washington DC area, the real estate network hopes to sign up over 500 realtors who will help them with their objective of minimizing the losses brought about by the enduring housing crisis.

Of course, it also aims to prevent more homes ending up in foreclosed for sale lists by providing professional and expert advice to distressed homeowners on how to go about with a short sale transaction.

Based on the latest reports, Washington currently ranks 17th among the states with the highest number of foreclosed for sale homes for the first six months of the current year. There were 19, 855 homes that is in some state of foreclosure, a 43.01 percent increase from last year’s figure.

In the DC area, number of repo homes jumped by 39 percent for the month of June but is 19 percent lower compared to the same period last year.

Nationwide, states which posted highest foreclosure rates include Nevada, Arizona and Florida while the states of California, Arizona and Florida posted the largest foreclosure totals. All in all, there is one foreclosure filing reported for every 84 households, up by 14.66 percent from January to June of 2008.

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