Prevent Foreclosure Florida – It Only Takes One Phone Call

Going through a foreclosure can be quite traumatic. Not only will you suffer financially in terms of your credit score, but you also have to face the potential of being homeless. If just the thought of your lender repossessing your home keeps you awake at night, then it is time to look at the options to prevent foreclosure Florida.

Available options include a loan modification, deed in lieu of foreclosure and a short sale. The first option is actually applicable if your financial problems are just temporary and you are expecting to bounce back. The second option works best if you have equity in the property and enough to cover the remaining mortgage balance. On the other hand, the last option is perfect if you find yourself with an underwater mortgage. As you know, this involves selling your home with your lender’s approval for an amount that is not enough to cover the entire mortgage debt.

Know Who to Call
If you think a short sale will help you prevent foreclosure Florida, then you should know it is actually a simple process with the right skills and knowledge. Obviously, you cannot become a short sale expert overnight. For this reason, your first phone call should be to someone who knows what is needed to be done in order for the lender to give their approval.

A team of short sale experts can help you from start to finish. From the drafting of the hardship letter to the preparation of the short sale package, you can rely on these professionals to do their job of ensuring your chances are higher of being approved for a short sale. They can even deal directly with your lender on your behalf to speed things along.

Again, your cooperation is very important in making the transaction work. You need to provide all the necessary documents to support your hardship story. Also, communication with the buyer is critical to reassure them if there are any delays. By doing your part, you will be able to prevent foreclosure in Florida with a short sale transaction.

Florida Short Sales – The Best Alternative to a Foreclosure

According to a report from CNN, the hottest trend in the distressed houses market is a short sale. For Florida homeowners with underwater mortgages, you will be pleased to know the federal government has plans of giving lenders incentives to close Florida short sales properties.

Approvals of short sale proposals have increased in the last couple of months and lenders are seen hiring more employees to provide assistance to these distressed homeowners. Last February, 17 percent of all real estate transactions were short sales. Huge mortgage servicers like Bank of America have made an effort to double their number and speed up approval. The reason for this is simple. Finally, lenders have realized, in terms of their finances, they lose 30 percent with a short sale compared to 50 percent with a foreclosure.

On April 5th 2010, lenders have even more reason to approve these short sale applications. Based on the new rules of the Home Affordable Foreclosure Alternatives program, servicers can receive $1,500 for a short sale transaction while borrowers will earn a relocation incentive amounting up to $3000. The owners of the mortgage notes will receive $2000 as long as they agree to share the short sale proceeds with the second-lien holders. Meanwhile, if they agree to release claim, second-lien holders can get as much as $6000.

Also, lenders who participate in the program will be required to determine the property’s market value early on. Once determined, they need to inform the sellers/owners of the selling price they will accept. If you are able to find a buyer willing to pay the said amount, lenders have to accept the offer within 10 days. Obviously, this will shorten the length of Florida short sale transactions considerably.

Considering these incentives, it is not surprising why a lot of distressed homeowners are exploring Florida short sales. Of course, if you want your chances of getting approved to increase, it is important you have a team of short sale experts to back you. As professionals, they can help you prepare the necessary documents the lender requires and provide you with invaluable tips and advice.

Reference: http://money.cnn.com/2010/03/29/real_estate/short_sale_explosion/

Florida Short Sale – The Advantage of Hiring Experts

Finding out you have an upside down mortgage is indeed frustrating especially if you are at risk of losing your home to foreclosure. The good news is you can explore a Florida short sale in order to save yourself from such a traumatic experience. The first step you should do is look for short sale experts who can truly help you.

Here are some of the things you could use help with:

1. Drafting the Hardship Letter – Although you might think you only need to inform your lender of your financial difficulties, having a professional at your side will ensure your message will look and sound sincere.

2. Getting a BPO – A Florida short sale expert knows the importance of obtaining a good BPO in order to truly know the value of the property and be able to show the lender there is a difference between the selling price and the appraised value. Typically this is ordered by your lender.

3. Preparing the Short Sale Package –A professional will provide proper assistance when it comes to completing all the documents you need to prove your financial status. Also, all forms required by the lender will be accomplished correctly.

4. Talking with the Buyer – Your Florida short sale agent will ensure buyer interest is maintained especially during delays.

5. Negotiating with the Lender – Any negotiations with the lender involving the property will be handled skillfully by the short sale professional attorney’s office. You can rest easy knowing that you are in capable hands.

Even with these professionals assisting you, you still need to do your homework in order for you to understand fully what you are going through. Remember, a Florida short sale transaction can take longer than ordinary sales transactions and it will require a great deal of patience on your part.

To get you through the waiting period, you can depend on our team to help you through the process. A Florida short sale transaction will bring you a release of all the stress the property carries. Not only will you avoid foreclosure, but you will also protect your credit.

Stop Foreclosure in Florida: Information is Power!

One of the biggest mistakes a distressed homeowner could ever commit is to remain ignorant of their situation. Knowing your home is at risk of being repossessed by your lender should propel you to learn as much as you can about the process and options available to stop foreclosure in Florida.

To provide you with an overview, here are some of the most effective solutions you can consider.

· Loan Modification- Works with a homeowner with temporary financial difficulties
· Short Sale – Applicable for upside down mortgages
· Deed in Lieu of Foreclosure – If s short sale does not work the lender may opt for this option
· Bankruptcy – Last option to consider if you would not want to deal with deficiencies or tax issues

Each of these options works with a particular situation and it would be best if you take your time coming up with a decision. You can look for help if you are having a hard time deciding:

· Ask a Friend or Family Member – Especially those who experienced the same mortgage problems. Be honest with what you are going through and you might be surprised at how sympathetic they will be. It would also not hurt to ask for a personal loan especially if you are just suffering from a temporary setback
· Talk to a Real Estate Agent or Broker – No one else knows the most effective way of stopping foreclosure in Florida than these professionals. Look for those with experience in short sale transactions since they have the necessary skills and knowledge to have your proposal accepted.
· Search the Internet – Go online and look for information about foreclosures. You must be careful though since some websites offer sales information and not the truth.

At the end of the day, it is really a matter of thinking ahead. You should make an effort to keep at least 10 percent of your income so that emergencies will not result to missed mortgage payments. Make an effort to maintain your home to keep its market value high to make it easier for you to attract buyers if the need arises.

Prevent Foreclosure in Fort Lauderdale Legally

As the nation continues to struggle with the sluggish economy, a large number of homeowners are getting more and more concerned about losing their homes to foreclosure. But instead of simply walking out on their mortgage debt they would rather explore available options which will help them prevent foreclosure in Fort Lauderdale. Of course, they would prefer a solution that is legal and effective.

A short sale is actually one of the options which create a win-win situation to all parties involved. In today’s market, such a transaction is increasingly becoming popular because of the following reasons:

1.  Owner/Seller Wins – With a short sale, the homeowner is able to prevent foreclosure in Fort Lauderdale at the same time salvage their credit scores. If you must know, a foreclosure can affect your credit adversely for as long as seven years. During which time, you will have problems obtaining loans or enjoying low interest rates.

2. Lender Wins – Foreclosure proceedings can be costly and if you are able to prove to the lender  your short sale proposal is a lot cheaper in the long run, it may approve chances the sale will go through. Keep in mind there are certain requirements you need to comply with in order to be considered eligible for this transaction.

3. Buyer Wins – Since the buyer will be buying the property at more or less the property’s current market value, it can be considered a good buy.

To make sure your short sale proposal is accepted, you have to look at your situation from the lender’s point of view or perspective. Some factors which will work in your favor:

- You have an upside down mortgage

- Your financial difficulties stemmed from uncontrollable circumstances

- You have documents to support your claim of hardship

- You have a buyer standing by and willing to wait for lender approval

If all these things sound familiar to you, then you are a qualified candidate for a short sale. To help you cover all bases, hire short sale experts to provide you with good advice.

Prevent Foreclosure in Fort Lauderdale Florida by Acting Now!

A foreclosure is indeed something most people would want to avoid. However, one of the reasons why the number of Florida foreclosure continue to rise is a lot of these distressed homeowners realize too late they cannot save their home and prevent foreclosure in Fort Lauderdale Florida.

If you are one of these homeowners who think the likelihood of facing foreclosure is next to impossible, then you should think again. You are actually at risk if your mortgage payments keep on ballooning while your home’s market value continues to plummet. Considered to be an “underwater mortgage” situation, you can avoid the repercussions of a foreclosure by acting now.

Why Act Now

There is a multitude of reasons why you should act now. For starters, your finances will be in a much better shape if you consider looking for a solution to your mortgage problem instead of overextending yourself by paying your mortgage which you can no longer afford. A lot of owners end up incurring so much debt they regret ignoring the warning signs.  Conserve capital your cash is your hope. Don’t spend every last penny paying the mortgage.

Also, your credit score will not be affected as much if you are able to prevent a foreclosure in Fort Lauderdale Florida. A foreclosure entry can wreak havoc to your credit records, making it difficult for you to get approved for any types of loan in the near future. If you do get approved, you can expect the interest rates to be higher than usual because you are considered a risk by the lenders.

Another reason is the possibility your lender will agree to a short sale. This means you can sell your home at a price that is less than what you owe in mortgage. Of course, you need to make sure you are qualified for such a transaction. If you are you need to prepare the short sale package as soon as you can before time runs out and your lender decides to foreclose.

In order to make sure you will get everything right, which will make it difficult for the lender to turn down your short sale proposal to prevent foreclosure Fort Lauderdale Florida, get a team of short sale experts who will work with you.

To Prevent Foreclosure In Palm Beach Florida, Know Your Weakness

As more and more homes enter some stage of foreclosure, it is only natural for you to think if you will be next especially if you are experiencing some financial difficulties. Surprisingly, a lot of homeowners who were confident about their finances were not able to prevent foreclosure in Palm Beach Florida. The reason for this is actually simple. They neglected to identify their weak points, in terms of their finances, and subsequently failed to address the problem.

Making Ends Meet

If you are living from paycheck to paycheck, you are exposing yourself to so much trouble. Without any savings to fall back on during emergencies or worse, unemployment, you might find yourself losing your home to foreclosure. As it is, the tough economy has already made it difficult for many homeowners to meet their mortgage obligations. If you fail to have something to fall back on you will make it easier for your lender to repossess your home.

Exploring a loan modification or even a bankruptcy are just some of the options available to you if your financial problems worsen but, if you do not want to ruin your credit record, go with a short sale.

When All Else Fails, Consider a Short Sale

There is an increasing number of homeowners who are nearing mortgage default and are worried that having an upside down mortgage will not help them prevent foreclosure in Palm Beach Florida. After all, it would be tough to sell a home and pay off your mortgage if the value of your home is less than what you owe. For this situation, only a short sale can provide the answer.

Considered as one of the most effective solutions to stop foreclosure, a short sale typically involves the lender agreeing to your proposal to sell the distressed property at an amount that is less than what you owe. Also, there has to be a buyer whose offer is acceptable to the lender. Obviously, a short sale transaction might be too complicated for a homeowner to do it alone. To iron out the kinks, you need to hire professionals. These short sale experts will do everything they can to help you prevent foreclosure in Palm Beach Florida.

Facing Reality to Prevent Foreclosure Miami

A lot of underwater homeowners, or those whose houses are worth less than the amount of mortgage they owe, are just now realizing that to prevent foreclosure Miami they should face reality. Once you have accepted the possibility you will lose your home to foreclosure if you do not act now, you will be motivated to look for a solution. One of which is a short sale.

There are actually three steps you need to take for you to fully realize how a short sale transaction can save you from the trauma of a foreclosure. These are:

Step 1: Get Educated – Knowing all the facts about your situation will help you determine if you are qualified for a short sale. It will also work to your advantage if you learn about the process involved in a short sale, what your responsibilities are and what it takes to get the lender to agree. Also, you should understand the key to successfully prevent foreclosure and execute a Miami short sale you need to have an in depth knowledge of such a transaction.

Step 2: Be Prepared – A short sale transaction can be lengthy and you must be ready to work with your lender until your proposal is approved. When it comes to your finances, you need to be honest with yourself and with your lender so that a short sale agreement can be reached quicker.  Remember, you are racing against time and the longer you wait to provide the seller with the complete documents, the higher the risk of your proposal being rejected.

Step 3: Get Help – No one is expecting you to work out your mortgage problems on your own. Upon deciding a short sale will work to prevent foreclosure in Miami, you should meet with a team of short sale experts to discuss your particular situation. Keep in mind different homeowners have different stories and it will be best if you prepare in advance.

The latest report on the number of homes entering some stage of foreclosures showed a decreasing trend in Miami Dade County. If you are serious about avoiding foreclosure, you will follow what the other distressed homeowners did — explored the potentials of a short sale to prevent foreclosure in Miami.

Fort Myers Florida Short Sale VS Other Options

The decision to stop foreclosure rests solely in your hands. Of course, you need to be honest with your financial situation and find out which option will work best for you. If you ask the local experts, a Fort Myers Florida short sale transaction is considered to be among the best of the options available to most distressed homeowners.

But if you are still unsure of a short sale, comparing it side by side to the other options can provide you with the facts which will ultimately help you make up your mind.

Short Sale VS Loan Modification

Homeowners who are having trouble paying their mortgage  should only consider a loan modification if their finances can afford it. If you lost your job and have more liabilities than assets, maybe it is time to consider selling your home as soon as possible especially if you qualify for a Fort Myers Florida short sale. Otherwise, you will only prolong the inevitable.

Short Sale VS Deed in Lieu of Foreclosure

These two options are very similar and considered to be effective in stopping foreclosure. However, there are subtle differences between the two. For starters, there is the issue of deficiency judgment in deed in lieu of foreclosure proposal. Although the Mortgage Relief and Debt Forgiveness Act already addressed this, it is actually still up to the lender if the debt will be forgiven. Also, with a deed in lieu of foreclosure, property ownership is transferred to the lender and it is likely your lender will not agree to this option if you have other liens attached to the property.

Short Sale VS Bankruptcy

When it comes to filing bankruptcy versus a Fort Myer Florida short sale, your credit score will benefit more from the latter. If you are looking to own a home again in the future, you will have a much easier time with a short sale. Keep in mind a short sale is also less traumatic than a bankruptcy.

If you are still having doubts about the effectiveness of a Fort Myers Florida short sale, you might find the help of short sale experts to be invaluable. Consider hiring a team of experts who can provide you with clear answers to other questions you might have about such transaction.

The Keys to Successful Naples Florida Short Sale

It is an established fact a Naples Florida short sale is a better choice than a bankruptcy or foreclosure, especially in terms of your credit rating. Keep in mind the entire process requires much patience on your part. You also have to make sure you comply with all requirements to make this transaction work.

However, for short sale experts, a successful short sale will actually require just three things:

Know Your Responsibilities – The weight of making this work actually lies on you. You need to convince your lender a short sale is the best solution and will be beneficial to both parties. It is not enough that you write a sad hardship letter but you must able to provide concrete evidence which proves you are not capable of paying the mortgage debt. In other words, you must provide full financial disclosure if you want the lender to take you seriously.

Look for the Right Buyer – It is important you have a buyer on the sidelines who is very much interested in purchasing the property and can deal with all the delays and demands of the lender. Still, you have to keep in mind most buyers have a limit and you should do your part well in order to avoid losing such buyer interest.  We can help you by making sure the buyer is educated on our processes by keeping them well informed.

Work with an Expert – Even if you have a buyer and prepared all the proper documents, there is still a huge possibility your lender will not approve it. Remember, lenders are not obligated to accept short sale proposals so in order for them to consider one, you must have a solid case. This is why you must hire a team of professionals who will make sure the short sale package which will be presented to the lender is comprehensive. This team should also be able to provide you with sound advice.

Keep in mind the longer you wait, the bigger the impact on your credit score it will be. Make sure you do your homework especially if you consider the fact a Naples Florida short sale might be your last chance to avoid foreclosure.