Category Archives for "Short Sales"
May 8, 2019
- in Short Sales by Minna Reid
Should I make mortgage payments during my Florida short sale?
The #1 most common question I hear 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 […]
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March 20, 2019
- in Foreclosure , 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
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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January 10, 2019
- in Short Sales by Minna Reid
Why your Florida short sale didn’t close and how to get back on track!
Did you know that less than half of all listed short sales actually end up successfully closing? As most Florida short sellers are highly motivated to sell, it is unlikely so many of these sellers simply change their mind, yet over half of all short sales fail to sell at all and simply expire, or fail […]
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January 8, 2019
- in Short Sales by Minna Reid
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- 2 comments
Who pays Realtor fees in a short sale?
How can upside down sellers afford a Realtor if there’s no money in the home to pay for one?Find out how to sell your over mortgaged Florida home in a short sale without paying a penny out of pocket in Realtor commissions or other closing costs… Realtor commissions in short salesIn almost all Florida real estate […]
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January 7, 2019
- in Short Sales by Minna Reid
How long will my Florida short sale take to close?
How long will the short sale process take? While all short sales are different, there are some general timelines I give folks when asked. I have had short sales approved in days, years and everything in between, but most Florida short sales will generally last 4-5 months and will usually fall into these some general time frames:SHORT […]
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December 5, 2018
- in Short Sales by Minna Reid
A quick guide to the Florida short sale process
Short sales are a possible solution if you owe more on your mortgage than your home is worth, need to sell, and lack the funds to make up the shortfall. No two short sales are exactly the same as they all vary by lender, investor and the seller’s situation, but most short sales generally follows the same […]
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