Blog - Page 2 of 6 - My Florida Home Sale

January 31, 2019

A guide to understanding deficiency judgments in Florida and how to avoid one.

Did you know that if your Florida home forecloses, the lender can be granted a deficiency judgement and pursue you for their losses?What is a Florida deficiency judgement?If you owed $400,000 on your Florida mortgage, and it foreclosed and sold for $350,000…the missing $50,000 would be the deficiency. Florida laws allow the lender a year […]

#short sale FAQ

February 10, 2019

in Home Selling by Minna Reid

How to sell Florida real estate with federal tax liens

Need to sell your Florida home but have a federal tax lien? The IRS has many ways to collect unpaid taxes, one of them by placing a tax lien on your real estate. A tax lien will make it more difficult to sell your property, especially if you owe more than your home is worth and […]

#short sale FAQ

February 12, 2019

Will you qualify for a short sale?

A financial hardship will be required to get your Jacksonville short sale approved. The most common hardships that are easily approved and widely accepted by lenders:UnemploymentEmployment or military relocationDivorce Death of a co-borrower/household wage earnerFacing foreclosureIncrease in expensesDecrease in incomeNatural disaster impacting property or employmentMedical issuesHowever there are many other reasons to short sell that […]

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March 20, 2019

in Short Sales by Minna Reid

TOP 5 BENEFITS OF A FLORIDA SHORT SALE!

What do you have to gain by short selling? The top 5 benefits of a short sale over a foreclosure: Avoid the stress of falling behind and losing your home to foreclosure.A foreclosure can be mentally and emotionally draining and publicly humiliating. A short sale will help you stop FL foreclosure, and move on with your […]

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May 8, 2019

in Short Sales by Minna Reid

Should I make mortgage payments during my Florida short sale?

The most common question I get from sellers considering a short sale is whether they should (or have to) make mortgage payments during their short sale. There is generally not a requirement by the lender for a seller to be current or behind to pursue a short sale (a few exceptions apply).When deciding whether or not to […]

#short sale FAQ

June 26, 2019

in Home Selling , Short Sales by Minna Reid

What is a HUD partial claim and how will it affect my Florida home sale?

You may have a HUD partial claim against your Florida home if you have a mortgage backed by FHA and you’ve ever had any type of loan workout – including a loan modification. What is a HUD partial claim?A partial claim is an interest-free loan from HUD to help make a loan modification possible, or […]

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July 23, 2019

in Short Sales by Minna Reid

PROS AND CONS OF A FLORIDA SHORT SALE

Wanting to sell but owe more than your home is worth? A short sale may be an option…find out the pros and cons of a Florida short sale! PROS AND CONS OF A SHORT SALE: Pros Sell your home and settle the excess mortgage debt. Stop struggling with high mortgage payments. Stop foreclosure. Pay no […]

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October 28, 2019

in Short Sales by Minna Reid

TOP 5 BENEFITS OF A SHORT SALE VS. FORECLOSURE!

What do you have to gain by short selling your Florida home versus letting it foreclose? TOP 5 BENEFITS OF A SHORT SALE: 1. Avoid the stress of falling behind and losing your home to foreclosure. A foreclosure can be mentally and emotionally draining and publicly humiliating. A short sale will help you stop foreclosure, and […]

#short sale FAQ

February 26, 2020

in Short Sales by Minna Reid

What happens to the second mortgage in a short sale?

What if I have two mortgages and I need to short sell my home? Many of our short sellers have a second mortgage. In a short sale all mortgages and liens need to be settled in order to complete the sale. Here’s how it works:Mortgages get paid off in the order they have been recorded […]

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March 3, 2020

in Foreclosure by Minna Reid

A guide to the Florida foreclosure process

Florida is a judicial foreclosure state, with one of the longest foreclosure timelines in the country. This means that if you are facing foreclosure in Florida, you have plenty of time to come up with an alternative such as a loan modification or short sale, or even just to save some money while the foreclosure […]

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