Strategic Defaults in Cape Coral Florida
In Cape Coral, Florida more and more home owners are looking at strategic defaults as an option in this current market place. Whether the owner ends up negotiating a short sale, loan modification or a deed in lieu or just lets the property go back as a foreclosure many are facing this challenge. Being upside down on a house in this depressed economy is definitely stressful to homeowners. Many have lost income, whether completely, or just reduced. Many more are forced to move to other cities or states for work. While some could continue to make their mortgage payments, even if challenging, they are opting to quit making the payments in order to get their lender to work with them on some sort of loan modification or short sale. There are programs available for those who are also current on their mortgages but often these are difficult to get approved.
~ Always check with your attorney, or an experienced attorney who deals with foreclosures and short sales first ~
While we, as real estate agents, cannot advise you on the decisions and legal ramifications of a strategic default we are able to help you with the sale of your home. We can place the home on the market for sale at market value, help you find a qualified buyer and work with your lender on the short sale. Many lenders are approving short sales for homeowners and investors. They have guidelines in place for those facing hardships.
Depending upon your situation they may require some cash at closing or they may ask for you to sign a promissory note. Lenders are NOT obligated to accept a short sale and can even seek a deficiency judgment against you after allowing you to sell the property in a short sale. You need to make sure you are working with a competent real estate professional along with seeking the advice of a qualified attorney prior to agreeing to any terms the lender may propose. We always seek to obtain a full release and satisfaction from the lender for our customers. If we are unable to achieve this then it is at the customer’s discretion, along with their attorney’s advice, as to how to proceed.
Should you be thinking about a short sale contact us with any questions you may have. We have been successfully selling short sales in and around Cape Coral for several years now.
Our agents and staff are here to answer any questions you may have pertaining to selling (or buying) a short sale. Using discretion, care and professionalism we are able to assist you during this time frame. Past customers of ours will tell you that they were never made to feel bad about their situation and were always treated with respect and confidence.
Learn more about our team of short sale professionals or feel free to call us directly at (239) 542-8521.
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We look forward to hearing from you! If you have any questions at all give us a call!
We look forward to working with you.