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Pensacola Beach Foreclosures / Short Sales
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A Pensacola Beach short sale-foreclosure is the sale of a house/condo where the sale price is less that what the current homeowner owes on the mortgage. Lenders may agree to a Pensacola Beach short sale and take a loss on the loan instead of going through the lengthy foreclosure process. If the lender does agree to a short sale foreclosure, in most cases they will sell the Pensacola Beach house for less than it is worth and forgive the rest of the loan that is owed. A Pensacola Beach short sale can be a great opportunity for everyone involved. The seller gets out from under a mortgage liability that they can no longer afford. The buyer gets a Pensacola Beach home/condo at a reduced price. The lender minimizes their loss without going through the long foreclosure process and possibly be stuck with an unsalable property. The congressional Joint Economic Committee found earlier in 2008, that foreclosures could cost lenders as much as $50,000 per foreclosure. Buyers should work with real estate agents who are familiar with the Pensacola Beach short sale foreclosure process. The process itself can be a lengthy, frustrating one. Dr. Cynthia Tant will help with the negotiating process and also inform the buyer what type of paperwork they are going to need in order to convince the lender that a short sale foreclosure is the best option for that Pensacola Beach piece of property. If you are considering a Pensacola Beach short sale, make sure you get everything in writing. If the lender agrees to take a Pensacola Beach short sale get it in writing that you will be absolved of all debts associated with the mortgage. Dr. Cynthia Tant is your Pensacola Beach short sale / foreclosure specialist, contact me today!! |
FORECLOSURE LISTS NATIONWIDE
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Steps to a Pensacola Beach Short Sale!
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Short sales are not necessarily complicated but do require some work on your and your agent’s part. 1. What is the true value of your property. Cindy Tant, professional Pensacola-Pensacola Beach short sale foreclosure expert, can provide a “market analysis” and give you a good idea of what your home might sell for. 2. Calculate your estimated closing costs. Items such as a title report, escrow, appraisal, attorney fees, agent commissions, unpaid property taxes etc. may add up to a substantial amount of money. 3. How much you owe on your property? Include all loans on the property in your calculation. 4. Calculate your equity. If your closing cost estimate plus your loan amounts are higher than the value of your property then a short sale is a possibility. 5. Contact your lender and explain your situation. Usually lenders have a ‘loss mitigation department’ that you can contact. Allow Doc Cindy to work with the lender, grant them access to your file. Lenders are under no obligation to accept a Pensacola Beach short sale but many times it is in their best interests to do so. 6. Consider your tax obligations! Do not underestimate this! Many times there can be a substantial tax obligation after a short sale has occurred. 7. Let me work for you to find a buyer and sell your property. The lender will still have to approve the buyer’s offer but once they do you can sell your property. For more tips about short sales / foreclosures on Pensacola Beach: CALL/TEXT Doc Cindy 850-393-5134 (Pensacola-Pensacola Beach Foreclosure/Short Sale Specialist) |
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Gulfcoast Foreclosures
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What Is a Gulfcoast Foreclosure?
Foreclosure on the Florida Gulfcoast is the legal process by which a mortgage company can obtain legal ownership of a property. It relinquishes a homeowner from any and all right to the property and evicts the homeowner from the premises. How can you stop a Gulfcoast Foreclosure process? Contact SellState Gulf Coast Realty at 850-393-5134.
A typical scenario: Most lenders initiate foreclosure after 3 missed monthly payments. A "file" is turned over to attorneys for processing. Attorneys are usually not much help in stopping a foreclosure in process. The file may also be turned over to a lender's loss mitigation department. Once a loss mitigation expert is assigned, they may attempt to contact the owner in an effort to resolve the delinquency through various repayment options. There may be liveable and possible alternative repayment options that can be managed. These are determined by the type of loan, how long the loan has been held, the lender, financial position and many other factors. When a home owner is unable to make the monthly mortgage payment on his or her house, resulting in a default against the mortgage, a lender will foreclosure on the home in order to sell it at a public auction to recover the money owed by the loan. If any money remains after the loan is paid off, the remainder is applied towards any junior liens and encumbrances in the order of their priority. Any further excess would be paid to the owner. TYPE OF DOCUMENT: Mortgage
TYPES OF FORECLOSURE: - Judicial Foreclosure only: From personal experience, we know that lawyers are very involved in the real estate process. A lender has to go through the court to foreclose on a property in Florida. The borrower is sued by the lender. The borrower has the right to defend themselves in court, while the lender will attempt to prove the borrowers are in default. Once the lender prevails, the court will order the property sold.
- Deficiency Judgments: The lender may pursue the borrower for up to four years to collect a deficiency judgment.
- Redemption: There is no right of redemption after the court confirms the sale.
Contact Cindy 850-393-5134 or email Cindy@Move2FLA.com for a SellState Gulfcoast foreclosure expert. For a List of Foreclosures / Short Sales along the Gulf Coast Register Below. (A password will be sent to verify your email address)
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