FAQ

FAQ – About Short Sales

* Short Sales may be your best option to foreclosure

* You do not necessarily have to be late on your mortgage to do a short sale.

* Some lenders will allow you to be current on your mortgage and approve your short sale.

* You do not necessarily have to have a hardship to get approved for a short sale

* In most cases a short sale is better than a deed in lieu

* You may qualify for HAFA- a government program

* If you qualify for HAFA- You will get a lien release and NO deficiency

* If you qualify for HAFA- You may get up to $3000 back at closing to help you relocate

* Some lenders are offering up to $30,000 in cash back to you at closing of a short sale

* There are many scams out there- be weary of anything that sounds too good to be true

* In the state of Florida- only Real Estate agents, attorneys and mortgage lenders can help you with your short sale

*It is illegal to charge you money up front to do a short sale unless it is an attorney trust account and attorneys’ fees or a marketing fee by your broker.

* If you are willing to bring a reduced amount of the pay off to the closing- in most cases- you can do a strategic short sale.

* Short sales don’t ruin your credit- NOT paying your mortgage ruins your credit.

* You must keep your HOA fees current even if you are not paying your mortgage.

* HOAs can foreclose on you here in Florida very fast and lock you out of your property.