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Property Owners in Country Club East Gain Foreclosure Relief Thru Short Sales in Lakewood Ranch Florida

Real Estate Agent with SaraMana Properties - QuickFreeMLS.com
Sarasota, Bradenton, Venice, Manatee County, FL, Stop Foreclosure, Short Sale

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Property Owners in Country Club East Gain Foreclosure Relief Thru Short Sales in Lakewood Ranch Florida

Many Country Club East homeowners have found foreclosure relief by making the smart choice to Short Sell their homes. In fact, property owners throughout Lakewood Ranch and Manatee County are avoiding the foreclosure trap through Short Sales.

A Short Sale occurs when a lender agrees to allow the sale of a property for less than the full mortgage balance owed. The typical Short Sale scenario involves a homeowner who for one reason or another is unable to continue to pay on their mortgage, and who are at the same time unable to sell for the amount owed due to falling property values. Without a Short Sale Approval from the lender, the home is destined for foreclosure.

Because having a foreclosure on one's financial record can have dramatic negative consequences (difficulty in renting/buying in the future, employment hiring issues, increased insurance rates, credit card cancellations, etc.) a Short Sale is clearly a better alternative from the homeowner's standpoint. Surprisingly, a Short Sale is also preferred by most lenders, thus creating the setting for a true "win-win" outcome.

Most lenders would rather Approve a Short Sale, because the foreclosure process is expensive and they'd rather avoid that cost if possible. After all, if a lender forecloses they are going to have to sell the property anyway, so by letting you sell it before foreclosing the bank actually comes out ahead of the game (they save the foreclosure costs).

While a Short Sale is generally the preferred outcome for all parties, problems can and do arise along the way that prevent Short Sale approvals.

A failed Short Sale attempt almost always ends in foreclosure, which is why it is so vitally important that you only work with an experienced and knowledgeable Short Sale Expert Team to handle your Short Sale.

In order to approve a Short Sale, lenders require very specific documentation, prepared and submitted according to very specific guidelines. A Short Sale package typically includes: a sales contract, numerous addenda to the contract, proof of buyer loan qualification and down-payment, a detailed "fair market value analysis" of the property, an analysis of local market conditions, a seller financial worksheet, seller hardship letter, photos of the property, and certain specific forms and seller financial data as may be required by your particular lender(s) -- even a small mistake can spell the difference between a successful Short Sale and Foreclosure.

If you would like to Stop Foreclosure and virtually guarantee the success of your Short Sale CLICK HERE to learn more about the SaraMana preForeclosure & Short Sale Assistance Team and our services.