Northeast Florida Short Sales
A short sale is the process by which a home is sold for less than is owed on the mortgage to the property. This is accomplished by listing the home for sale and securing a buyer, followed by a specialized documentation and negotiation process with the lender. At successful conclusion the lender approves the short sale, agrees to forgive the remaining mortgage debt, and the sale closes like any other, with some sellers even receiving relocation assistance. Minna Reid specializes in Jacksonville area short sales.
A short sale may be an option if you:
- Are facing foreclosure.
- Owe more than your home is worth and lack the funds to make up the difference.
- Have or will become unable to keep up with your mortgage payments.
- Are facing a current or future financial hardship such as divorce, retirement, layoff, employment relocation.
- Have had other workout options such as a forbearance or loan modification declined.
- Are considering just walking away but want to avoid the consequences of foreclosure and/or a deficiency judgment.
If these describe you situation, a short sale may be right for you. Short sales are complex and require an experienced short sale professional. My team and I have been specializing in short sales for over a decade and have helped hundreds of sellers walk away from their upside down homes debt-free!
Minna was a God send! I was being told by everyone I couldn't short sell my home because I was current on my mortgage. My fiance found Minna's page and I contacted her the next day. She responded quickly and came out to view the home faster than expected. She told me she could get it sold and if all goes well it should be done by July. Well we closed on Friday May 18th. Jaime and Minna made this transaction work so smoothly and explained everything every step of the way. I can't thank her and Jaime enough! I will be recommending her to anyone that needs help with selling a home. Thank you Minna! You are the best!
The Advantages of a Short Sale vs. Foreclosure:
Control over the sale of your home.
You will be able to sell your home on the open market and make the decisions regarding the terms of the sale of your home.
Minimize credit repercussions.
A short sale is less derogatory on your credit than a foreclosure and recovery is faster.
Eliminate or minimize the chances your lender will pursue you for a deficiency judgment.
If you foreclose, your debt doesn't disappear, especially if you owed more than the home eventually sold for. The lender may pursue you for this amount. You have the ability to negotiate this during short sale negotiations, but not if the home forecloses.
A short sale will likely cost you nothing.
When involved in a short sale, almost always the lender allows all customary closing costs to come out of the proceeds of the home sale including realtor fees, conveyance taxes, back taxes and attorneys fees. In some cases you may even qualify for relocation assistance
Avoid the stress of foreclosure.
A foreclosure can be mentally and emotionally draining and publicly humiliating. A short sale will help you avoid this, and move on with your life quickly.
Knowing you are doing the right thing and minimizing the damages
Maybe you are in over your head like millions of others. You have the opportunity to try to make the best of this bad situation for everyone involved.
Selling short can help protect your financial future, salvage your credit, and save your dignity.
We handle short sales throughout the Florida First Coast region: Duval County, Nassau County, Clay County, Baker County, St. Johns County, Putnam County and Flagler County.
Short Sale Lenders/Servicers/Investors/Programs we have experience with: Bank of America, Bayview, Countrywide, Chase, Wells Fargo, AHMSI, ASC, M&T Bank, McCue Mortgage, HomEq, IndyMac, One West Bank, Guaranty Bank, Greentree, AIM, PennyMac, Aurora, Citimortgage, Vericrest, GMAC, Home Point, MorEquity, Sovereign, Savings Institute, OCWEN, Bank United, Litton Loan Servicing, HFC, HSBC, SPS, SLS, Dime Savings Bank, PHH Mortgage Services, CHIF, Provident, Fifth Third Bank, Seterus, IBM LBPS (Lender Business Process Services), Liberty Bank, Nationstar, Norcom, Bayview Loan Servicing, Webster Bank, Merrimack, Cenlar, Freedom Mortgage, LoanCare, Windsor Federal, TD Bank, Ditech, HomeBridge, Guild, Planet Home Lending, Carrington, Mr. Cooper and more...and all major investors including Fannie Mae, Freddie Mac, FHA, VA, USDA, Private Labels/Investors.