Pensacola Mortgage Company Reports Foreclosure Activity Drops

FOR IMMEDIATE RELEASE
Pensacola, Florida, United States of America (Free-Press-Release.com) February 18, 2011 -- PENSACOLA, FL – Southpoint Financial, a Pensacola Mortgage Company, reports that foreclosure activity drops for the third month in a row. “We have not seen foreclosure rates this low in 30 months” says Daren Thomas, President of Southpoint Financial and 20 year mortgage lender. Data from the foreclosure tracking firm RealtyTrac indicates a 21 percent drop in November and an additional 2 percent in December. Rates continued to fall in January of this year.

The Pensacola Mortgage Company tells us that the states that were hardest hit by foreclosures such as Florida are actually showing the greatest amount of slowing in overall foreclosures. The annual change for foreclosure activity indicates that Florida, which was responsible for 11 percent of all foreclosure activity nationwide, has indicated a decline of 54 percent. January marked the third straight month for this uninterrupted decline trend after the state was in the top three for total number of foreclosures since 2007.

“Despite the decline in available foreclosures, we’re continuing to see homebuyers scramble for distressed homes” says Daren, stating that his Pensacola Mortgage Company has seen unprecedented activity over the last several months. “Our reports from the National Association of Realtors show that properties in various stages of the foreclosure and short sale process are selling for discounts in the area of 10-15 percent and they now account for 36 percent of all home resales.”

Daren points out that buying a foreclosure can be a great deal, but it can also have its share of headaches if you’re not aware of what you’re getting into. “Buying a distressed home is different from buying a non-distressed home” warns the Pensacola Mortgage Company.” Therefore, it makes good sense to seek the advice of a licensed real-estate agent who can negotiate your best rate.

Each client's Pensacola Mortgage situation is unique and we will work together to develop plan that is best for you. Understanding how credit scores work is the first step. Visit http://pensacolamortgageloanrefinance.com to find out more today!

pensacola florida Foreclosure     pensacola mortgage     pensacola refinance