Wellington, FL Short Sales and Foreclosure Alternatives - Tips for Wellington, FL Residents
In today's economy, almost everyone in Wellington knows someone who is in danger of losing their home due to Foreclosure. It is important for these people confronting these circumstances to understand that they are not alone and alternatives are available! Most people have arrived in this position without any fault to their own. It is estimated that 1 out of every 7.5 homeowners in the United States are currently behind on their mortgage payments. A recent report recently in the New York Post reported on the growing popularity of short sales as a viable option for homeowners who are underwater on their mortgages. The report went on to say that short sales are outpacing Foreclosures and expectations are for that to continue well into 2012. A major push for short sales has come from the lenders themselves. A few of the major lending companies are now promising large payouts to homeowners as incentives to put their homes on the market for short sale.
If you have fallen be
hind mortgage or are facing an increased hardship, foreclosure can often be avoided. Many homeowners are not aware that a short sale will produce relatively minimum long term damage to your credit rating and your financial future can be saved! The sooner the homeowner acts when confronting foreclosure, the greater the likelihood of a successful outcome. It is becoming more widely known that lenders prefer alternative solutions to foreclosure - Most oftern it is in their best interest. Remember banks are in the business of lending money, NOT owning property! So, the incentive is there for the banks to work with the homeowner's with legitimate hardships. Under the right circumstances, when confronted with foreclosure in Wellington / West Palm Beach area, a Short Sale can be a win-win solution for you and for your mortgage lender.
Through my experience in handling distressed properties at Keller Williams Realty - Wellington, I have found that many homeowner's today have more questions than answers about their circumstances. I have created this article, as well I have a special section on my website www.WPBhomes4sale.com designated to answering homeowner's questions about Foreclosures and Short Sales in Wellington / West Palm Beach area.
The thought of losing a home can be overwhelming, but it important to know that their are alternatives to foreclosure. It is important to take action quickly, since this will give you the greatest chance in a successful outcome. A quick reaction to the circumstances could also result in the least impact to your credit rating. It is rarely too late to take action against foreclosure, but being proactive will increase the chance of a successful short sale.
In 2009, I earned my CDPE designation (Certified Distressed Property Expert) and since then I have helped many homeowners avoid foreclosure and successfully short sale their home in Palm Beach County. I have a passion to assist and provide alternatives to homeowner's that are in Foreclosure or facing a financial hardship that will eventually bring them into Foreclosure. I have successfully negotiated short sales with all the major lenders, including: Bank of America, Wells Fargo, Citi Mortgage, Chase, etc. I understand the standards for each lender and requirements they will require in the short sale packages. I have also affilitate myself with a local real estate attorney/title company - Trident Title to assist with the short sale negotiations.
If you are potentially facing foreclosure, I will gladly sit down with you to help you explore your options. Please do not hesitate to contact me at (561) 313-2627 or via email at ryan@wpbhomes4sale.com.
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