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Short Sale Service
If you have an unmanageable mortgage payment, you are not alone. A staggering one in four properties in South Florida is distressed! An even more staggering statistic is the number of homeowners that don’t reach out for help.
There is more help and options for a struggling homeowner available now, than ever before. The effects of ignoring the problem and letting your home be foreclosed on will last on your credit profile for seven to ten years and reduce your credit score by up to 350 points.
A Short Sale recovery on the other hand can start in as little as twelve months and will have less than half the negative effect on your credit score as a foreclosure.
Even though you may feel that you are in a financial whirlwind, we want you to know that there is a way out and we are here to help!
The road to financial recovery and the future stability of your financial life starts here!
By filling out our “Do I qualify for a Short Sale” form below, you can feel confident that you are taking a proactive step in the right direction.
What is a Short Sale?
A “Short Sale” or “Negotiated Settlement” is when your lender(s) agrees to let you sell your house for less than what is currently owed on the mortgage as a way to avoid foreclosure.
Our team continues to have great success convincing the Lender that they will “Make out better” accepting less than what is owed now versus later, through the foreclosure process.
How do I qualify for a short sale?
You must have some type of hardship in order to qualify for a short sale, below is a list of hardships that may qualify you for a short sale.
In most cases you must have at least one of the following hardships:
- Job Loss
- Job Transfer
- Loss of Income
- Change of Income
- Medical Hardship in household
- Tax increase
- Mortgage Rate Increase
Owing more than your house is worth is Not considered a valid reason for a Short Sale by your Lender.
Will a Short Sale stop the foreclosure sale?
It can but not automatically; this is completely up to the Lender. We are able in many cases to convince the Lender to halt the foreclosure so that we can negotiate Short Sale with them.
Will I get any money from the Short Sale?
There is no guarantee, but we always include a request for this in our Short Sale negotiation with your lender. This is however becoming more and more common due to number of houses the banks are taking back. Some banks now even have “Cash for Keys” programs available for the purpose of encouraging Short Sales.
How long does it take to complete a Short Sale?
The Short Sale process can take anywhere from three weeks to three months, this is largely dependent on the approval guidelines your lender is required to follow and varies widely from bank to bank.
Can I stay in my house?
As the Short Sale is being negotiated we advise you to make plans to move out of the house, as the point of a Short Sale is the eventual sale of the house this is something you need to be ready for. This shows the bank that you are serious, and may help compel them to approve the Short Sale, now that they know they will have the added expense of maintenance on the property.What makes MyFLHome.org different?
We are Local South Florida Home Buyers, here to Help those who have been impacted by falling home values.
Realtors: List your Property on the MLS in hope of earning a commission of the eventual sale.
The average length of time that a Short Sale Listing takes to Sell using the MLS is over 5 Months which is more than enough time to loose your home to Foreclosure.
Short Sale processing Companies: Charge up front Fees to process a generic Short Sale Package. They Charge you extra to Negotiate terms with your Lender. If and when their package is approved they DO NOT Help with the Most Important part, Marketing your Home, Finding a Buyer and Finalizing the Sale.
MyFLHome.org: We Never Charge any fees! Our experienced team has an Iron Clad process for getting Short Sales Approved! The Power of our Proprietary Short Sale Package is the Fact that we submit it with a Cash offer to your Lender. No Fees, No Waiting, No Marketing, No Finding a Buyer, No Worries, We DO IT ALL.
