SHORT SALE MYTHS
The lack of positive/correct information can be daunting for a homeowner facing the difficult decision of selling their home when they owe more than it is worth. We created this website to help answer questions that you or someone you know may have regarding a short sale.
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FORECLOSURE PROCESS
A foreclosure in Florida begins when a lender files court action and records a notice of a pending lawsuit (Lis Pendens) against the borrower.
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WHAT IS A SHORT SALE
A Short Sale involves the sale of the property by the borrower to a third party for less than the amount owed to satisfy the delinquent mortgage, as agreed to by the lender, investor, and mortgage insurer. Due to the increased incidence of pre-foreclosure sales, Fannie Mae is establishing a 2-year elapsed time period for reestablishing credit following completion of the action.
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HOW TO AVOID THE FORECLOSURE PROCESS
If you are in danger of falling behind on your mortgage payments or if you’re already delinquent it’s important to know what your options are and what to expect ahead.
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