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DO YOU FIND YOURSELF UNDERWATER?
CONTACT US TODAY...WE MAY BE ABLE TO HELP!
Regardless of your circumstances,
there are numerous solutions available.
Contact me for a FREE CONFIDENTIAL consultation.
Consult A Short Sale Specialist Before Listing Your Property With Just Any Realtor
WHAT IS A SHORT SALE?
At the end of 2014 studies
showed that Miami still has more than 26% of the homes owing more than
they are worth. Short Sale occurs when the proceeds of a real estate
sale fall short of the balance owed on the property. In a Short Sale,
the bank or mortgage lender agrees to discount a loan balance due to an
economic or financial hardship on the part of the mortgagor. This
negotiation is all done by a Specialist through communication with a
bank's Loss mitigation department. A Short Sale Specialist can help you
through this process.
Currently, if you are an owner occupant of a
property, the tax code allows you to avoid paying taxes on the Short
Sale shortfall. This can be a huge savings for owner occupants who
decide to sell their home as a Short Sale.
The Short Sale option will have much less
negative effect on your credit than a foreclosure would, so a Short Sale
may be the best course of action for you if you've fallen behind on
your mortgage payments.
But don't wait too long, since foreclosure proceedings will begin once you miss 3 or 4 regularly scheduled payments.