Wednesday, April 13, 2022 / by Stephanie LeFew
How Can We Help You?
Foreclosure can be a fast-moving train and we are here to help you get out from in front of it!
We understand how scary and difficult the process of foreclosure can be, we have been there before with our clients, family members, and our friends. We want to help you gain control of the situation.
What Is Foreclosure?
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
How Long Can Foreclosure Take?
Florida foreclosures occur through the judicial system and can take about 4-6 months to complete.
Steps After Foreclosure
After foreclosure, we suggest renting something that you can get into - probably will take extra money down to have them accept the credit challenges, and start rebuilding their credit - pay off other bills. Just start saving &am ...
Wednesday, April 6, 2022 / by Stephanie LeFew
At first, the thought of buying a home without having taken a tour to see it in person might seem like an odd choice. When it comes down to it, though, there are actually a few different scenarios in which making an offer on a home that you haven’t toured might seem like a good idea. You might be buying a home in a new part of the country that you’re currently not in and hope to have the property secured before you move, or it might be a home that’s getting a lot of attention and you want to get an offer in quickly. You might even be considering skipping the tour due to lingering concerns about the pandemic, or for other equally valid reasons.
While there are definitely good reasons to skip out on a tour, doing so can be a bad idea, maybe not even for the reasons that you think. Let’s take a look at some of the main reasons that you should avoid skipping a home tour, as well as some options if you don’t want to (or can’t) tour the property in person ...
Wednesday, March 30, 2022 / by Stephanie LeFew
The current state of the foreclosure market in Florida
The federal foreclosure moratorium that was implemented in response to the pandemic severely restricted the supply of foreclosures across the country. The Supreme Court finally ended the moratorium at the end of August 2021, and since then the market has been gradually returning to normal, although with courts experiencing huge backlogs, we’re still not yet back to business as usual. However, having said that, the foreclosure rate in Florida has been among the highest in the country since the end of the moratorium. In both October and December of last year, Florida was reported to have the second-highest foreclosure rate in the country.
Buying a pre-foreclosure property in Florida
Buying a Florida home during pre-foreclosure means the period of time between the homeowner receiving a notice of default (NOD) and the property being foreclosed. In Florida, it can take 10 to 12 months fr2 ...
Wednesday, March 23, 2022 / by Stephanie LeFew
What is a Short Sale?
Have you found yourself Googling, “what is a short sale in real estate terms”? Well, we’re here to explain exactly what they are.This real estate term is used to describe what happens when a homeowner decides to sell their home for less than the mortgage value. This is usually because they find themselves in a position of financial difficulty and are struggling to keep up with mortgage payments. Short sales are often an attempt to avoid a foreclosure, which is what happens when the lender forcibly repossesses the home.
Real Estate Short Sale Process For Buyers
Before any purchase can be made, the mortgage lender — in most cases, a bank — must approve the short sale. For banks to approve a short sale, they will generally require documentation explaining the reasoning behind the short sale. In order to help them determine whether or not to approve the short sale, banks will often conduct a ; ...
Wednesday, March 2, 2022 / by Stephanie LeFew
One of the greatest myths in the world of real estate is that buying a home that’s in a pre-foreclosure state, or one that has already been foreclosed upon, will get you the very best deal possible. This is inaccurate for a number of reasons, though if you know what you’re looking at you can sometimes snag a bargain. There are a few things you need to know before making that leap the first time.
What is a Short Sale?
Short sales happen because a homeowner is in big trouble financially and needs to unload their house. They may be in a negative equity position (underwater) or simply lack the equity to sell their home. There was a time when homeowners had to miss a few payments before lenders would consider a short sale, but today there are conditions, like a sudden loss of income, that can make a short sale possible faster.
Short sales save the homeowner from a long and potentially credit-damaging foreclosure. They save the bank from having to get lawyers involved ...