There are many options for Central Florida sellers who are in foreclosure.

As a Certified Distressed Property Expert (CDPE), there are many options that I can (and do!) suggest to Central Florida Sellers who are facing economic hardships and who are concerned about losing their home to foreclosure.

To find out about the 9 options for Sellers, you can read my blog post here.

Today, I'd like to review Option 1, which is reinstatement of your loan.

Reinstatement of your loan is often an option if the reason for the missed payments was temporary, such as an illness or temporary job loss.

In order to have the loan reinstated, the borrower must re-pay all of the missed payments, including late fees and legal fees if any were accrued.

Reinstatement must be approved by the borrower's lender and the amount owed should be obtained in writing from the lender in the form of a reinstatement letter. Because most reinstatements of the loan are time sensitive (meaning they have an expiration date), it is very important that the borrower pay all fees due by required due date.

Once the loan has been reinstated, they should continue to make regular monthly payments on their mortgage in order to avoid further action by their lender.

If you are a seller who is delinquent in your mortgage, reinstatement or one of the other 8 remaining options for Sellers facing foreclosure may be an option for you.

Contact a Certified Distressed Property Expert (CDPE) in your market place to see which option is best for you.

A list of CDPE professionals can be found by visiting the CDPE website here.

LaShawn Norden, PA, Certified Distressed Property Expert (CDPE), (321) 377-0157, LaShawn@LaShawnNorden.com

Serving Seminole, Orange and Volusia Counties in Central Florida