Florida Real Estate Specialists

Fort Lauderdale and Miami Real Estate Resource for Buying and Selling Homes

Are You Struggling To Pay Your Mortgage And Homeowners Fee?

Is There A Threat Of Foreclosure Hanging Over Your Head?


We have experience  and we can save you from having foreclosure on your credit.
If you are interested in knowing the facts about all of the above and you simply want to sell your home - We Can Help!

Call The Jekov Group at Keller Williams Realty for information and we will show you:

1. Our "Unique Marketing Approach" we have created to get your home SOLD fast and for top dollars.
2. Details of The Jekov Group's guarantee and the choice you have, to cancel the listing.
3. A list of Real Estate Myths.
4. Statistics, and much, much more......
All inquires are confidential. Call at 954-667-9010 or 561-797-0230

What Is A Short Sale?

A short sale is a negotiated settlement in which a short pay occurs, when the lender agrees to accept less than the amount owed to payoff a home loan as an alternative to foreclosure. The lender often agrees to a short sale because they know if they take the property back through foreclosure they will often incur and even greater loss.

What kind of paperwork do i need?
  • 2 Months' Bank Statement
  • 2 Months' Pay Stubs
  • 2 Years' IRS Tax Return
  • 1 Hardship Letter
  • 1 Third Party Autorization Form - allowing your agent to contact your lender on your behalf
How Long It Will Take?

Don't forget - it is actually two different elements.The First is the traditional real estate side (listing the home, etc.) and the Second element is the negotiation with your current lenders. It may take several weeks to months before a lender and home owner can agree on acceptable terms.

What is Satisfaction?

The lender may agree to accept less than it is owed as complete and total satisfaction of the note and release its lien against the property. in the eyes of the lender, the debt is now completely settled.

Advantages: Your note and obligation to the lender are satisfied for less than you owe. When the property is sold, the debt is paid off completely.

Disadvantages: You may have some tax consequences that you should discuss with your tax adviser due to the fact that the lender is making money you owe disappear. Sometimes our negotiations are successful in obtaining a satisfaction. Sometimes all we can get is a release.

What is Release?

The lender may offer to release its security interest against the property in exchange for less than the total amount of the note. A release will allow the property to be sold without paying off the obligations of the note. However, the note is not satisfied.

Advantages: This successful short sale will allow the property to be sold and thus avoid foreclosure.

Disadvantages: The remaining debt on the property (sometimes called a deficiency*) still exists. You are still liable for the note – in other words – you still owe the money.

Call our team of experts today - 954-667-9010 or 561-797-0230

Questions? Just Ask!

Condominiums for Sale in Fort Lauderdale

8079


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