Whether you are facing foreclosure or thinking you might end up there, now is a good time to get working toward a resolution. The prospect of losing your home is an incredibly difficult place to be.
Some people through no fault of their own face financial difficulties. This could be a loss of a job or relocation, increased credit card debt, illness in family, etc. After many years of struggling real estate market with house values going down and many homeowners are unable to make their mortgage payments and therefore are facing foreclosure. You are not alone.
If you are a homeowner that is facing foreclosure you need to be aware of what you can do about it.
If you have tried loan modification and your lender has denied it, your best option to avoid foreclosure is short selling your home.
A short sale is the sale of a home in which the sale proceeds of the home are less than the balance owed on the property’s loan. When a homeowner cannot afford to pay the mortgage payments anymore, the seller’s lender decides that selling the property at a controlled loss is better than a foreclosure on the property. Both parties, seller and lender, consent to the short sale process because it allows them to avoid foreclosure. Foreclosures involve hefty fees for the lender and poorer credit report outcomes for the homeowners.
If you are contemplating the short sale option, contact Towns Realty with an extensive short sale experience having closed more than 300 short sales. At Towns Realty, we know how to get a short sale processed and completed. There is much more to a short sale then putting it on the market, getting an offer and sending it to the lender.
Contact Towns Realty today for short sale assistance. We service Kissimmee, Poinciana,Orlando, Dr. Phillips,Gotha, Ocoee, Winter Garden, Clermont, Celebration, Hunters Creek,LakeNona, Metrowest,Davenport,Winter Park and Windermere.
Our experience will help you avoid foreclosure.