Do I qualify for a short sale?
Published On: June 5, 2012 Posted by: TownsRealty
Your lender will not approve a short sale based on the fact that your home is worth less than what you owe and you don’t want to keep it anymore. You have to demonstrate a financial hardship.
The reason Towns Realty has closed so many short sales is that we make sure from the beginning that the sellers are qualified for a short sale.
There are a lot of short sales on the market but only few of them are closing because their real estate agents did not do their homework to ensure that the homeowners are qualified; therefore the lenders did not approve the short sale. As a homeowner, going thru the tedious short sale process, only to find out at the end that you don’t qualify, is a waste of time and emotions.
Cities in Florida such as Orlando, Kissimmee and Davenport are very desirable now, because Florida properties are inexpensive and rates are historically low.
If you need to short sale your property now is the time since there are a lot of buyers out there. And, keep in mind that the Mortgage Forgiveness Debt Relief Act -http://www.irs.gov/individuals/article/0,,id=179414,00.html- ends this year in December, 2012 and as a homeowner, you won’t be able to take advantage of it anymore after it ends.
Towns Realty is available to discuss with you the possibility or your need to attempt a short sale, or if you have any other questions involving the real estate market in the Orlando, Kissimmee, Windermere, Winter Park and Davenport area.