Freeze souring house deals
10/23/2010 © Daytona Beach News-Journal
DAYTONA BEACH -- So far, major banks freezing parts of the foreclosure process have caused some lost or delayed house sales in the Volusia-Flagler market, real-estate officials said this week.
"It's a strong knee-jerk reaction by the lenders, and it's too strong," said Aswin Suri, owner of Exit Realty of Daytona. "We had a deal with a bank that's not even among the ones freezing foreclosures, and it was about to close when it was held up because of the freeze."
Still, investigations of mishandled foreclosures are continuing across the country.
