Many Florida residents are still trying to recover from the economic crash that hit the U.S. in the early 2000s. In fact, some are struggling to overcome serious financial crisis that includes threat of foreclosure on their homes. If you are facing a similar situation, you may have options available to help you meet your immediate needs and take a step toward a stronger financial future.
A short sale is a real estate transaction that is often better than going through a full-on foreclosure. If your lender agrees to a Florida short sale, it means your home will be listed at a price lower than its current market value. The idea is that by selling the home at a discounted price, your lender will still recoup most of what you owe on your mortgage.
Lenders typically want to avoid foreclosure as much as homeowners. A short sale may be in the best interests of both parties. The overall housing market does not benefit when homes are foreclosed either, so a short sale can be a win-win for everyone involved.
Cuevas, Garcia & Torres, P.A., is well-versed in real estate law and can help you explore whatever options might be available to avoid foreclosure. If a short sale appears to be a good choice in your current circumstances, our experienced legal team can help you get the ball rolling and can remain on hand to provide support in overcoming any legal obstacles that arise. While financial crises can be quite stressful and worrisome, it is often possible to get things back on track if you understand the tools you have to work with or at least reach out for support from someone who can advocate on your behalf.
