You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. It also has valuale tips whether you are buying, selling, or experiencing financial hardships. We want to give you helpful information before you take any action, or avoid action altogether. Please reach out if you have any questions at all. We’d love to talk with you!
How long does a short sale actually take?
Most short sales take three to ten weeks for lender approval once a fully signed contract and complete short sale package are submitted. The full transaction timeline often runs longer depending on the loan type and how many lienholders are involved.
Why would my bank let me sell my house for less than I owe?
Lenders compare the cost of a short sale to the cost of completing a foreclosure and reselling the property, and a short sale is frequently the cheaper, faster option. Foreclosure carries legal costs, vacancy risk, and resale time that erode the lender's recovery.
What is the difference between a short sale and a foreclosure in Florida?
A short sale is directed by the homeowner, working with the lender, who controls the timeline and the outcome. A foreclosure in Florida goes through circuit court, is directed by the lender and the judge, and becomes part of the public record.
What is a short sale, exactly?
A short sale is the sale of a home for less than the total amount owed on the mortgage, approved in advance by the lender, as an alternative to foreclosure. The lender agrees to accept the proceeds as a settlement even though it's less than the full balance.
What’s a hardship letter and do I actually need one?
A hardship letter is a written explanation from the borrower describing the financial hardship, such as job loss, medical bills, or divorce, that led to the missed payments. Lenders require it as part of the short sale package.
Will people find out if I’m behind on my mortgage?
No. A conversation with a real estate broker about your mortgage situation is private and confidential. Nothing about it becomes public unless and until your lender formally files a foreclosure lawsuit in court.
