Orange Park FL Short Sales
Contact me for FREE assistance (904) 635-8822
Explaining Short Sales
A short sale happens when a seller (homeowner) is forced to sell their home due to a financial hardship and the lender has agreed to accept a lower “pay off” to avoid a foreclosure. Short sales are beneficial to both, the homeowner and the lender. The lender gets to avoid costly foreclosure fees and the homeowner walks away without damaging their credit as severely as a foreclosure would bring. Short sales are not to be confused with a typical Realty sale because short sales may take a good amount of time to complete. However, short sales are becoming more and more common because of the amount of successful closings it does bring.
Do you qualify for a mortgage short sale in Orange Park?
In order to qualify for a short sale, the homeowner must first be in a legit financial hardship. A hardship that has caused them to fall back on consecutive missed mortgage payments. Short Sales are for those who NEED to get out of their home and not those who WANT to get out of their home. Here are some hardships that can qualify you…
• Job loss
• Loss of income
• Increased living expenses
• Medical expenses
• Divorce or separation
• Major repairs needed without being financially able to make them
Why is it in my best interest to do a short sale on my Orange Park FL home?
When you look at how your credit will look after going through with a foreclosure instead of a short sale, you will see that a foreclosure will affect your credit greatly. Not only will a foreclosure stop you from being able to apply for a loan for up to seven years, but it will also drop your credit score to as much as 200+ points, while also leaving it’s name, “Foreclosure” stamped to your credit. A short sale will typically heal within two years, while only leaving a simple “paid or settled in full” or “paid as negotiated” statement on your credit.
Can I stay in my home until the short sale is completed?
Yes you may. You will not be required to move out until closing. Until the closing, you still have legal rights as the homeowner. In many cases, a short sale can even work to delay the foreclosure process and give you more time in your home.
Who pays for your services and closing costs?
You lender does. You have ZERO financial obligation to us, and to the closing. You should never have to pay for services we offer. Your lender will pay a real estate brokerage fee along with all other seller closing costs.
If I am going through a foreclosure, is a short sale still an option?
Absolutely. Banks in most cases are more than happy to work with homeowners on their short sale. It costs a lender $58,000.00 in total costs and expenses on average to go through a foreclosure proceeding. This makes it unrealistic for them to foreclose on you.
How do I choose the right Realtor for my Orange Park short sale?
Who you want to help you successfully complete your short sale should be an expert at short sales. A weekend training program doesn’t make somebody an expert, experience does. I have many years of experience in short sales and have completed numerous successful short sales. I take pride in leaving a smile on the homeowner’s face and being someone they can walk beside through there financial crisis. Contact me today at (904) 635-8822, and let me help successfully complete this short sale for you, right away!