Karen Arbutine & Associates
Orlando
1-888-727-7778
Menu

Tips To Avoid Foreclosure

NEXT
PREV
Mon, Nov 26, 2007 at 4:09PM

It is sad but so very true, more homeowners today are facing foreclosure on their homes. It is happening to good people more and more each day. One of the primary problems contributing to the issues is; if you purchased a home in 2005 or 2006, chances are you owe more on our home than what it is worth today. After several months trying to attract a buyer, the typical seller falls behind paymnets and the forclosure process begins. There is a much better solution to the problem which is a much better option. It is refered to as a "short sale". This is the process where a negotiated settlement is made between the lender that holds the mortgage and the seller for a third party buyer usually facilitated by a professional such as a realtor or attorney. Many mortgage companies would rather sell the property for less than what is owed to them rather than going through the entire foreclosure process. Basically, it is a win win situation for both parties. The mortgage company wins since they avoid the expense of the forclosure process. The seller wins because they avoid the negative stigma on their credit and they can continue to live in the home until the short sale process is complete. The buyers get a home at a great price. There is no extra fees for the service to provide a short sale through a real estate agent. If you or someone you know is facing a forclosure, talk to a realtor perhaps about the details of your case.

Bookmark & Share



User Comments


Be the first to comment on this post below!


Popular tags on this blog

Awards & Recognition | Central Florida New Home Construction | central florida news | Curb Appeal | Entertainment | Finding Your Dream Home | Foreclosures | Golden Oak Real Estate | Heathrow FL News | Hot 100 Realtor Hall of Fame | Housing Market | Karen Arbutine | Longwood FL Home for Sale | Longwood FL News | Luxury New Home Construction | Memorial Day | Mortgage News | New Home Construction | Orlando FL Economy | Orlando Luxury Homes | RE/MAX | Real Estate Myth | Real Estate News | Sales Tax | Selling Bonus |



All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: My Florida Regional MLS (updated 12/17/17)
Read Our Blog
LISTING SEARCH

- OR -

Advanced Search 

SHARE THIS PAGE
Read Our Blog

Your privacy is our utmost concern. We will never sell your personal information. Privacy Policy
©2015 getorlandorealestate.com - all rights reserved. | Site MapThe Lake Mary / Heathrow Florida Real Estate Blog




More Central Florida Real Estate