Short Sell Your Property Here In Orlando Florida

We are going to cover the steps to completing a short sale here in Orlando. First speak to your attorney or CPA for legal or financial advice before considering a short sale or foreclosure in Orlando. Today, unemployment is sky high and property values are plummeting because of too many short sales, foreclosures, and bank owned properties. Selling a home where you owe more money than what the property is actually worth is an alternative to foreclosure. Why continue to pay the mortgage if it is an undue hardship? Foreclosures can completely ruin your credit rating. Recovering from a short sale takes a lot less time. If you have lost your job and can no longer make your mortgage payments, you should consider a short sale. We can properly guide you through Orlando short sales, foreclosures, and foreclosure assistance .

If you are stuck between a rock and a hard place now is the time to consider a short sale. Ask yourself if you can manage monthly mortgage payment obligations for your personal residence or investment property, have you lost all other means of paying the mortgage? Short selling a property due to property values plummeting or lost equity is not a good reason from my vantage point. You can still find your way out of foreclosure or a short sale. You don't have to stop paying just because the property has lost considerable value but if a short sale or foreclosure is your only alternative we have the experience and the instruction to get you through it.

Choosing an Orlando foreclosure or short sale means a seller has lost his job and can not continue to pay. The seller has lost all other means of continuing to pay the mortgage and must consider a short sale or complete foreclosure. Going through a foreclosure or short sale is not a pleasant experience and should only be done as an exit strategy , only as a last resort. If you have no other alternative a short sale is the best way to go because it is a more orderly, managed process and it is easier to recover from than a complete foreclosure. Nobody wants to consider short sales, foreclosures, or short sale/foreclosure assistance but it is best to be educated.. No one considers foreclosure or a short sale unless many external factors beyond their control are severely affecting their cash flow and ability to pay their mortgage..

Foreclosure/short sale assistance is offered by many people. Some of these people have no scruples. They take the seller for a long ride and in the end the property still falls into foreclosure. When considering a foreclosure or short sale take caution before committing to anyone or anything. There are people who only have their own self interests in mind. in flipping your property to make a quick profit. Much has been said about the ethics of flipping short sale properties. Legal questions arise in telling one bank the property is one price and telling the lender it is worth much more. It is my goal to make those considering the legality of flipping short sales in terms of what is best for them and what poses no legal conflict. My firm can give you the best advice on Orlando foreclosures and short sales. I have been in the business for over twenty-two years. In summary, the short sale process is a loan disapproval. Short sale negotiators' provide data to mortgage companies that show your property is worth less and you no longer qualify for the property and ask for forgiveness of debt and accept a buyer offer for an amount less then what is owed. The Bank asks you to complete a set of documents to start the short sale process. Documents are not standardized from bank to bank but its all the same basic information. We will walk you through the process:

Here is the list of basic documents:

Letter of hardship '

Income and expense statement

P & L for self employed people

Letter of Authorization to release information

Bank statement 3 months

Asset - stock statements if there are any

Pay checks for 3 weeks

Verification of disability if there is any

If you don't have a job or become unemployed you need to show an unemployment check. Self employed sellers need to provide a statement of self employment and may have to provide copies of their business' bank account . When dealing with 2 lenders, a first and a HELOC or 2nd mortgage you need to provide paperwork for both banks. Short selling property is not a sure thing and be prepared for a lengthy process of up to 1 year or more. Weigh all the pros and cons, remember it took time to get into the situation and it will take time to process a short sale or foreclosure .

The Federal Government is writing rules, offers, and incentives for Fannie Mae and Freddy Mac ensured loans as well as for bans who accepted TARP money to streamline the short sale process. They want to offer financial incentives to get short sales done faster. Short sales in Orlando or anywhere else are better for everyone involved: the seller, the bank, the community, municipalities, HOA and for real estate values. We are seeing this as the preferred solution of dealing with properties in Orlando where sellers are behind in payments verses the foreclosure process.

Foreclosures devastate real estate values, families, communities and really do very little for anyone. It is a loose, loose, loose situation for everyone involved. If the government and banks would wake up and realize short sales are the best choice for sellers who can no longer pay for their property.


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For more information please contact Gitta at Short Sale Orlando or call here direct at 407-330-2181.