Should I Short Sale My Wellington Home?
This is one of the most frequently asked questions and also one that receives the most judgmental responses. There are many reasons why a homeowner would choose or should choose to short sale their Wellington home. Some may be laid off from work and can no longer afford their payments while others are looking at their savings- having watched it all get depleted through loss of equity in their Wellington FL home. These homeowners can no longer accept throwing their money down the drain so to speak. These are all considered in the decision of short selling your Wellington home.
The first thing you need to ask yourself and go over in your family meeting is your budget. Are you laid off from your work? Are you unemployed? If so, what are your job options and how realistic is it that you will get a job or start a business where you will be able to keep making your mortgage payments or where you can catch up if you are late.
How far behind are you on your mortgage payments if you are behind? Have you been turned down for a loan modification with your lender? If you do short sale your home, where are you going to move? Sometimes we have helped a homeowner discover that paying rent to a landlord will cost them more and get less space then trying to figure out a way to keep their home. In that situation it is not in the homeowner’s best interest to sell their home as short sales.
Do you own properties that are your investment properties but the rents are not making the mortgage payments because of the real estate market crash?
Are you thinking about just walking away from your home or property and leaving the keys on the table?
These are many of the questions that are constantly being tossed around in a homeowner’s mind here in Wellington Florida and other places in Palm Beach County.
Most of the time doing a Wellington short sale is better than having a foreclosure against you and the judgment that the banks are entitled to after the foreclosure.
Did you know that there are some programs that you may qualify for where your lender will give you up to $20,000 in some cases and in many cases at least $3000 to help you relocate?
We can not promise that you will qualify for one of these incentive programs but the call to us is totally confidential. We will have a short sale intake evaluation with you over the phone and go over your foreclosure options with you. Call Nestor Gasset or Katerina Gasset at 561-753-0135 today to get your short sales questions answered.