Category Archives for "Short Sales"
Jacksonville, Florida short sale information and tips.
January 13, 2021
- in Foreclosure , Short Sales by Minna Reid
Is your mortgage forbearance ending? Know your options!
Mortgage Forbearances are coming to an end.Is your mortgage forbearance ending? Millions of home owners opted to take a few months off their mortgage during the shutdowns, but now it’s time to start making the payments again, and in some cases pay it all back!YOUR OPTIONS FOR MOVING ON AFTER FORBEARANCE: Pay the back due […]
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March 10, 2020
- in Short Sales by Minna Reid
Florida Short Sales with VA – The VA Compromise Sale Process Explained!
The VA offers a lot of great benefits like the VA mortgage – a 100% loan program with low interest rates and fees. Unfortunately sometimes those with VA loans need to sell, and often there is just not a lot of equity in the home. If you have a VA loan and owe more than […]
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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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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 […]
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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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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 forbearance or loan modification. What is a HUD partial claim?A partial claim is an interest-free loan from HUD to help make a loan modification […]
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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 […]
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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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February 12, 2019
- in Short Sales by Minna Reid
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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January 31, 2019
- in Short Sales by Minna Reid
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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 […]
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