Short Sales

For years, short sale transactions were so difficult and time-consuming to complete that many buyers and agents avoided them altogether.  Over time, the banks have come to realize that short sales are preferable to foreclosures – they simply recover more money by doing short sales – and they have finally made the process easy and quick.  This year for the first time, short sale closings in Florida have exceeded foreclosure home closings.  Some lenders such as JPMorgan Chase, Wells Fargo, and Bank of America are now offering sellers cash incentives of up to $30,000 to complete short sales, and the US government has extended the Mortgage Forgiveness Debt Relief Act and Debt Cancellation through the end of 2012.  If your home is underwater and you have made the decision to let it go, a short sale could be the best option for you.  Call us today at 239-278-3993 for a free consultation.

If your first mortgage is being serviced by Bank of America, now is a great time to consider a short sale.  In 2012, Bank of America has been the most aggressive lender in assisting homeowners with a variety of options such as loan modification, principal reduction, and short sales.  They will also screen you for eligibility in such programs as the Home Affordable Foreclosure Alternatives (HAFA) program and in some situations they can offer you seller incentives from $2500 to $30,000 to complete a short sale.  To get started exploring your options, call them at 1-866-880-1232.  If a short sale is the solution for you, Porter Davis Real Estate Brokerage can make the process fast and easy.