Orlando Short Sale Expert, PreForeclosure Short Sales Specialist 


If you are behind on your mortgage payments and worried about losing your home I can help you with Short Sale Services.
No out of pocket costs to you! I am professionally trained real estate agent and negotiator that know how to negotiate a settlement with your lender. You can sell your property for less than what’s owed, and lift that financial weight. Best of all, commissions and closing costs will be paid by the lender, so you won't have any out-of-pocket expense!
Please call your Orlando Short Sales Specialist (407)-288-4884 before its too late.

  

Homeowner F.A.Q.’s
 
What is Short Sale? A short sale is a negotiated settlement. This is when the lender agrees to accept less than the amount owed as a payoff on the loan.
When should I start my Short Sale? It is best to begin a short sale when you realize you can no longer afford the mortgage, so that your property can be marketed properly and you can receive a high offer. He earlier you start, the higher our likelihood of success. 
How long does it take to complete a short sale once we fill out the paperwork? Typically transaction is completed within three month. If you have a foreclosure sale date approaching I will attempt to complete it sooner.  
What is a Deed in Lieu? A Deed is when property is deeded back to the lender with the approval of the borrower prior to foreclosure. (This process may still leave a negative impact on the borrower’s credit.)
Why should a lien holder accept less than the outstanding debt? After the lender does an appraisal on the property and discovers that the value is less than the payoff, the lender will decide if it is worth further legal actions and costs. A business decision is made to either continue foreclosure action or accept the short sale. 
What is HUD 1 Closing Statement? A form used at closing that gives an account of the funds received and paid at closing, including the escrow deposits for taxes, hazard insurance, and mortgage insurance. 
What is Deed? The legal document conveying title to a real property. 
What is a Deed of Trust? A deed of trust is an instrument used in many states in place of a mortgage. Property is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary) and re-conveyed upon payment in full. 
What is Depreciation?  A loss of value in a real property brought about by age, physical deterioration, functional or economical obsolescence. 
What is Loss Mitigation? Loss Mitigation is a process to avoid foreclosure; the lender tries to help a borrower who has been unable to make loan payments and is in danger of default on his or her loan. 
What is loan Modification? A mortgage modification is a loss mitigation option that allows a borrower to refinance and/ or extend the term of the mortgage loan and reduce the monthly payments.
What is a Forbearance Plan? A forbearance plan is a loss mitigation option where the lender arranges a revised repayment plan for the borrower that may include a temporary reduction or suspension of monthly loan payments.What is offer on a property? An offer is an indication by a potential buyer of a willingness to purchase a home at a specific price; generally put forth in writing. 
How long is a Short Sale process? Depending on the mortgage company, but usually it can take between 2 – 5 month. 
How do a short sale show up on my credit? Foreclosure show up as FORECLOSURE, and can stay on your record for seven years. Anytime you apply for a new loan or have your credit run, the foreclosure will show up and is usually a required disclosure you must make on most credit and job applications. A short sale is listed as SETTLED DEBT, and is much less harmful to your credit. Please consult a credit company for more information. 
 

What liability do I have when doing a short sale? In a short sale, it is possible the bank could 1099 you for the difference in that you sell your property for and what you owed. This means the IRS could consider the difference as income, and you could be taxed on the income.

 

 For more information  please call your Orlando Short Sales Expert(407)-288-4884