Pinnacle Real Estate Group - FL
Full-Service Real Estate on the Treasure Coast - Residential, Investment and Default Specialists
Need help with buying or selling your Treasure Coast property?
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.
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.
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.
It's rarely too late, but options narrow with every week that passes. Once a Florida lender files a foreclosure lawsuit, the matter becomes part of the public court record and the timeline starts moving on the court's schedule, not yours.
Yes. Being behind on payments does not prevent you from selling your home, even if you owe more than the home is currently worth. A short sale allows your lender to approve a sale for less than the full loan balance.
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.
Call a Florida-licensed agent who specializes in short sales as soon as you miss a payment, before contacting your lender yourself. Missing payments does not automatically lead to foreclosure, and homeowners who reach out early keep far more options than those who wait.
