Laura Forty-Garcia, Your Central Florida Real Estate Guide thru the Short Sales Process
What is a Short Sale?
A Short Sale is a Real Estate Transaction where the net proceeds from the sale won't cover your Total Mortgage obligation and closing costs, and you don't have any other sources of money to cover the deficiency.
A Short Sale can occur when a lender allows a homeowner to sell a home for a price that is less than what is owed on the mortgage, if the homeowner is experiencing a financial difficulty that would make monthly mortgage payments a significant burden. Unfortunately, nearly 70% of homeowners facing foreclosure never list their home for sale, even though a Short Sale has many benefits over a foreclosure.
The real estate market will not recover until the number of foreclosures is reduced and home prices start to rebound. An efficient Short Sale process can have a significant impact on foreclosures, which remain at record high levels. RE/MAX Central Realty hopes that a standardized, national Short Sale process will soon be in place to promote a lasting housing Recovery.
If you find yourself in a position where you owe more than your home is worth and you need to sell, a short sale may be your best option. But don't get taken for a long, stressful ride by a self proclaimed 'expert'...
I don't call myself an expert, but I have a good track record on getting Short Sales SOLD!!!
The short sale process is almost always better than foreclosure for a number of reasons. For example, the lender may agree to "write-off" the short fall on the mortgage and the homeowner will not be required to pay that back. Even in that case, there will most likely be a "write-off" on their credit report (which is still better than a foreclosure and possible subsequent bankruptcy).
A short sale may prevent bankruptcy, which could enable the homeowner to possibly re-purchase a home and secure a mortgage without the 10 year delay associated with a foreclosure. This is possible good news for Homeowners all over Central Florida and throughout the State. It makes sense to see what your options are before making a decision.
Has a Hardship affected your ability to pay your mortgage?
- Job Loss?
- Divorce?
- Any other unexpected life event?
- Illness or Injury?
- Increase in payment due to scheduled adjustable rate change?
- Any other unexpected life event?
We may be able to help!
Unfortunately, there are many Real Estate Agents trying to Sell homes via the Short Sale process who have no idea how to evaluate the Sellers situation to see if she or he will actually qualify for a Short Sale. Once an offer comes in, are not able to effectively present a package to the bank or negotiate the best terms. This results in many Sellers and Buyers waiting in anticipation for several months, only to get a "no where" at the end of the process.
There are people who need help, and I want to offer them a fighting chance. "It's heartbreaking to see homeowners who are aimless and at risk of being taken advantage of by scammers saying they can help for $1,000 - 3,000 cash. Homeowners fall prey to these companies because they're desperate and don’t know where else to turn."
Please BEWARE of any company that wants YOU to pay THEM to talk to us or any of your creditors. You can do the same thing for which they may charge several hundred dollars. Non-profit agencies may require a contribution so they can continue to provide their services to others. It is recommended that you shop around for an agency with which you feel comfortable.
Keep in mind that if you are considering filing for bankruptcy or if you have already filed, we may still be able to work with you. Please do not hesitate to contact us or have your bankruptcy attorney do so.
Servicing your SHORT SALE throughout Central Florida!!
Areas of that I work in assisting homeowners.
Debary, Deltona, Deland, Orange City, Sanford, Lake Mary, Heathrow, Longwood, Altamonte Springs, Orlando, Oviedo, Winter Springs, Winter Park, Windermere
Direct: (386) 801-0878
Email me Today: LauraF1@Remax.net
Should you or someone you know be interested in buying or selling Real Estate in Central Florida, I'd love to earn the business! I am never too busy for your referrals!
