You have more time than you probably think you have. You've missed a few months of your mortgage payments, you've received the default notices, you're smack dab in the middle of a foreclosure, you've been summonsed to court, you've received an auction date and your home hasn't sold. Now what? You're really anxious with your home not selling. If you're attempting to sell your home, with a Realtor, through a short sale that has been approved for a short sale by your lender, do you know that your lender can be approached with a strong approved buyer the day before the scheduled auction sale date and you could stop the foreclosure if the buyers offer is approved?
Keep in mind that your lender does not want to own your home. They are in the business of loaning money not owning homes so if your Realtor comes to them with a strong offer the day before the auction, they will certainly take a good look at it for consideration.
Also, if you've noticed homes in your neighborhood that aren't selling or have been on the market for months on end, do not assume that your home will not sell. Your neighborhood homes are more than likely not priced correctly for the current market. Your home wll be priced at fair market value or below making it a lot more attractive than the other listed homes.
So, to sum it up, don't panic when the auction date is nearing.
I'm a Realtor who services the South Florida area in the city of Coral Springs of Broward County and surrounding areas. If you need help and you're out of Florida, please let me know as I have qualified Short Sale Associates who I would gladly refer you to to get you on the road to brighter days.
Please visit my blog for more information on Foreclosures and Short Sales by clicking on "Coral Springs Florida Realtor Blog" above or "More Information" to the right to find additional articles.
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