Florida Short Sales Still A Reality
Amid news of a housing market recovery, short sales are still a reality for distressed Florida homeowners. Regardless of the promising stories in the news about a recovering market, short sales are still a solution for homeowners who are unable to pay their mortgage. Steve and Alma Korshak, owners of Short Sale Facilitators in Casselberry Florida see people every day who still struggle to make ends meet.
According to figures recently released by RealtyTrac, there are some improvements in number of sales nationwide, but the pre-foreclosure/short sale statistics tell a different story. While short sales accounted for 5.6% of the total sales nationwide, in Orlando the percentage was higher – 16.6%.
Sales volume nationwide increased, however in Orlando, FL sales volume was down 12%. Central Florida was hit hard by the housing crisis and recovery will take some time. There are no quick fixes and for a distressed homeowner, hoping things have improved enough to sell their home through traditional methods is probably not likely.
Act Early When Hardship Hits
If you find yourself suffering from a financial hardship, it is important to evaluate your circumstances early on. Short Sale Facilitators see people who experience various types of hardships all the time.
- Do You Have a Job? Income is of course a major consideration if you have a mortgage to pay. Many people are unemployed and unable to find a new job that will pay enough for them to continue to pay their mortgage.
- Are you underwater? Homeowners who are underwater owe more on their mortgage than their property is worth. Selling your home in a traditional sale when your property value has fallen means that you still could not pay off your mortgage.
- Has your family experienced a severe illness or death? Long illnesses can drain a family’s financial resources. The ill person may also be the primary source of income for the family. Illness or deaths are unavoidable hardships that may make it impossible to pay a monthly mortgage.
- Are you divorced? When marriages fall apart, the financial stability of each spouse is also affected. Often, a couple may have been able to afford a home together, but apart, taking on the full burden of home ownership may not be possible.
Short Sales Can Prevent Foreclosure
The danger of waiting too long before seeking help is a real one. If you are worried you are going to miss a mortgage payment, call Short Sale Facilitators and ask if you are a candidate for a short sale. If you miss payments and do not communicate with your lender, they may consider a foreclosure their only option.
A Short Sale is a pre-foreclosure process, and it may very well be the last step before the bank starts to foreclose on your property. There is still time to negotiate a better outcome in a short sale, but a foreclosure can leave you feeling powerless.
Short Sales and foreclosures both influence your credit scores, but a short sale may not have the long-term impact that a foreclosure does. There are no guarantees, of course, but try to protect any portion of your credit score that you can. Meet with Short Sale Facilitators and find out for sure what your options are.
Bring Your Paperwork
There is no worse time to face financial difficulties than when you are also experiencing other hardships in your life. Alma Korshak has been working with homeowners for over seven years helping negotiate the short sale of their home with their lender. Alma knows from experience that people need help the most when they are under the stress of other hardships.
An experienced negotiator like Alma wants to understand your individual situation so that she can negotiate for what you need. Schedule a time to meet with Alma in her Casselberry Florida office. Bring any paperwork you have received or do not understand – pile it in a box and bring it with you.
At Short Sale Facilitators, someone is always looking out for your best interest. Alma does not just accept the first response from lenders, but challenges them to negotiate a better outcome for her clients. Alma Korshak believes that every one of her clients is a priority and when you make the decision to work with Short Sale Facilitators, that’s when Alma rolls up her sleeves and starts working.
Waiting Does Not Make it Easier
Alma Korshak loves to help people. She uses all of her knowledge to negotiate for every one of her clients. She believes that every client is a priority and she will work hard to negotiate for you. Waiting does not help. It hurts. It prolongs the anxiety especially if you are facing a personal hardship that is not likely to change. Let Alma and her team at Short Sale Facilitators help you get out of a mortgage you can no longer afford.