A recent news article showing high rates of foreclosure in Florida prompts commentary from top Tampa real estate agent Nathan Bangs. According to a recent article in The Miami Herald titled Florida leads nation in foreclosure activity, Florida was first in the U.S. in terms of foreclosure in January 2013. This prompts a response from one of Tampa’s top real estate agents, Nathan Bangs. “According to the data, Florida has eclipsed California in foreclosure numbers in January, even though California is much larger. That’s pretty significant,” said Mr. Bangs. Florida has logged the highest foreclosure rate in the nation not only in January, but also in the four previous months. It had twice the national average in terms of foreclosure filings in January 2013. “While the rate of foreclosure is high in Florida, you don’t necessarily need to foreclose if you owe more than your home is worth. There are other options that you can explore,” said Mr. Bangs. Nathan Bangs is a short sale specialist who can aid clients in exactly these types of situations. He is a certified distressed property expert (CDPE) who can help homeowners in situations such as divorce, job loss, illness, subprime lending, and being “upside down” on a mortgage. “If you are facing foreclosure or having to short sale your home, getting help from a licensed short sale expert can help you get out of this stressful situation,” said Mr. Bangs. When asked to explain what a short sale is and how the process works, Bangs explained the following: “When mortgage lenders agree to a short sale in Tampa, it means that they are accepting less than the total mortgage owed to them. Lenders used to hesitate to accept short sales in years past, but today it is much more acceptable to them,” said Mr. Bangs. “The short sale process works like this: you and your lender would agree to sell your home for its fair market value, even though it’s worth less than the amount you owe the lender. Your lender takes all the profit from the sale when the home is finally sold. Your short sale realtor would be paid a commission by your lender, so you wouldn’t have to pay anything. This will allow you to avoid a foreclosure on your records in exchange for giving the lender all the proceeds from the sale of your home,” explained Mr. Bangs. Tampa homeowners facing the possibility of foreclosure or short sale can get help from a licensed short sale expert at Nathan Bangs & Associates. About Nathan Bangs & Associates Nathan has always enjoyed bringing exceptionally high quality service to his clients. Over the years as a top producing real estate agent he has learned to maintain seamless service throughout his business by having a high quality support system. Providing outstanding service to his buyers and sellers has allowed him to achieve top producer status because of his deep understanding of the Tampa Bay area and the real estate market. Contact Nathan today to see why he’s in the top 1% of realtors in Tampa, Florida.