The next group of homeowners to find themselves in trouble will be those with sub-prime and adjustable rate loans. Many of these individuals had good credit ratings until they experienced income reductions from failed businesses or job cutbacks in our sagging economy.
Homeowners in Florida are beginning to understand that a Florida short sale may be the best solution for them. With an expert short sale negotiator aboard, they can often wind up free of all debt responsibility, remain in their homes during negotiations, experience a private sale instead of a foreclosure auction, and then move on and start life anew.
Many Realtors and attorneys are not familiar enough with the short sale process in Florida to be as helpful as they might. Big banks and mortgage lenders have strong legal teams and sharp negotiators on their side. A savvy Florida short sale negotiator can level the playing field. The best also have buyers in hand before negotiations begin.
One in ten U.S. mortgages is late by at least one payment. Ten percent! And seriously delinquent payments are still higher than last year. There has also been a significant rise in the number of newly delinquent loans in the past few months. The job market and overall economy will determine what happens in the housing market. Mortgage modifications could help if lenders would actually participate. Government efforts at loan modifications have been sadly lacking.
Truth be told, loan modifications have not worked. They have been difficult to obtain, and ineffective overall. If the employment picture improved, then perhaps loan modifications could help many. Unfortunately, when the economy is in a severe shock such as today it requires many years to recover. Ten years is a generous estimate for recovery.
If the recession ended today--which appears highly unlikely--we would still see high unemployment for another ten years. Thousand of homes will be lost to foreclosure. A short sale is a far better solution for many. Deed in lied of foreclosure is often recommended, but rarely seems to be as satisfactory for most homeowners. Many Realtors and attorneys simply don't understand how to take advantage of the short sale process.
One team of Florida short sale experts reports a growing number of successful negotiations with lenders and successful short sales of luxury homes in Florida. This allows the distressed homeowner to conduct a private sale rather than a public auction. They can then schedule a move rather than suffer an eviction.
A well structured short sale has been the answer for many. One team of Florida Short Sale experts has helped many distressed homeowners avoid the foreclosure process altogether. Instead, they have negotiated acceptable settlements with lenders, and guided homeowners through an orderly sales process. This generally allows their homeowners to avoid the embarrassment of foreclosure auctions and subsequent eviction from their homes.
Homeowners in Florida are beginning to understand that a Florida short sale may be the best solution for them. With an expert short sale negotiator aboard, they can often wind up free of all debt responsibility, remain in their homes during negotiations, experience a private sale instead of a foreclosure auction, and then move on and start life anew.
Many Realtors and attorneys are not familiar enough with the short sale process in Florida to be as helpful as they might. Big banks and mortgage lenders have strong legal teams and sharp negotiators on their side. A savvy Florida short sale negotiator can level the playing field. The best also have buyers in hand before negotiations begin.
One in ten U.S. mortgages is late by at least one payment. Ten percent! And seriously delinquent payments are still higher than last year. There has also been a significant rise in the number of newly delinquent loans in the past few months. The job market and overall economy will determine what happens in the housing market. Mortgage modifications could help if lenders would actually participate. Government efforts at loan modifications have been sadly lacking.
Truth be told, loan modifications have not worked. They have been difficult to obtain, and ineffective overall. If the employment picture improved, then perhaps loan modifications could help many. Unfortunately, when the economy is in a severe shock such as today it requires many years to recover. Ten years is a generous estimate for recovery.
If the recession ended today--which appears highly unlikely--we would still see high unemployment for another ten years. Thousand of homes will be lost to foreclosure. A short sale is a far better solution for many. Deed in lied of foreclosure is often recommended, but rarely seems to be as satisfactory for most homeowners. Many Realtors and attorneys simply don't understand how to take advantage of the short sale process.
One team of Florida short sale experts reports a growing number of successful negotiations with lenders and successful short sales of luxury homes in Florida. This allows the distressed homeowner to conduct a private sale rather than a public auction. They can then schedule a move rather than suffer an eviction.
A well structured short sale has been the answer for many. One team of Florida Short Sale experts has helped many distressed homeowners avoid the foreclosure process altogether. Instead, they have negotiated acceptable settlements with lenders, and guided homeowners through an orderly sales process. This generally allows their homeowners to avoid the embarrassment of foreclosure auctions and subsequent eviction from their homes.
About the Author:
Visit the Tampa Bay area Short Sale to discover an ideal remedy for many distressed mortgagees of high-end homes in the Tampa Bay area.. Also published at Florida Short Sale Trend.
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