No homeowner wants to lose a home to foreclosure. Unfortunately, 1 in every 1,182 properties are foreclosed in Florida, according to RealtyTrac. If you are facing the prospect of losing your home in Sarasota or Manatee County, a Certified Distressed Property Expert® can help you review your options and come up with the best solution to avoid this kind of hardship.
Working with a Certified Distressed Property Expert®
The thought of facing a foreclosure can be emotionally and financially draining for homeowners. That's why it's crucial is to work with with a well-informed, licensed real estate agent who has been trained to help homeowners avoid foreclosure. Certified Distressed Property Experts®, also called CDPEs, provide a wealth of tools and resources to help homeowners understand the process and review their options.
We have a few FAQs about CDPEs and short sales to help you understand what to do when facing a foreclosure.
FAQs About CDPEs
What is a Short Sale?
A homeowner is "short" if he or she owes more money for the mortgage than the home is worth. During a short sale, the homeowner is able to negotiate with the mortgage lender to accept less than the full balance of the loan, and the mortgage is considered paid in full after the property sells.
For homeowners to qualify for a short sale, they must be facing a financial hardship that causes them to have trouble affording the mortgage; they cannot currently or soon will not be able to afford the mortgage due to monthly income shortfall; and they do not have significant liquid assets to pay down the mortgage.
Our Experts Give You Peace of Mind
A short sale seems simple enough, but it is a complicated process that takes the expertise of experienced and certified real estate professionals. If you are facing foreclosure of your home in Sarasota or Manatee County, contact us to evaluate your situation, identify all of your options, and execute a short sale quickly and efficiently.