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Sarasota, Bradenton, Venice, Lakewood Ranch Florida Homeowners -- 2011 Means It's Time To Move Forward With a Short Sale!
Many lenders and mortgage bankers are awakening to the fact that short sales offer homeowners a more timely and cost effective way to deal with unpaid mortgage debt. When compared to foreclosure, a short sale offers the following benefits to the property owner:
- Preserves credit - much less of a negative impact on your credit rating vs. foreclosure.
- Improve future employment prospects - many employers consider financial history when making hiring decisions.
- Future mortgage qualification - qualify for a low rate government FHA mortgage in as little as 24 months, compared to 7+ years or more after foreclosure.
For these reasons and many more, 2011 is the year that Sarasota, Bradenton, Venice, Lakewood Ranch Florida Homeowners are embracing the Short Sale as a superior pre-foreclosure solution.
When it comes to the foreclosure of your home, your primary goal in 2011 should be to STOP it! For most homeowners who have fallen seriously behind on their mortgage payments, there is little realistic possibility of bringing the loan current (including accrued interest and fees) and resuming regular payments. With meaningful loan modifications becoming harder and harder to get, and with most lenders refusing to accept a deed in lieu of foreclosure, short sale is often your best, if not only, option to stop foreclosure.
Thankfully, because prices remain low as compared to boom year highs, the pace of house and condominium sales in the greater Sarasota, Bradenton, Lakewood Ranch, Venice Florida areas is actually quite high! The fact that people from all over the country are buying right now means that if you associate yourself with an experienced and reliable short sale expert who handles your sale, the odds of completing a successful sale and avoiding foreclosure (and its negative effects on your long-term financial future) are nearly 100%!
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