If they would not modify then you would have to do a short sale

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There is FREE help from the Florida Bar Association and Florida Legal Services. You can call them toll free 866-607-2187. More than 10,000 lawyers have agreed to take these cases free. They will assess your situation and talk to your lender on your behalf. Now is the time to call. Free legal help is being provided to try to reduce the number of foreclosures.

Hi Thomas,

The first thing I would do is sit down with my bank and see what could be done. If your bank doesn't want to talk to you, go and see a mortgage broker or a mortgage lender. There are other steps that can be taken before giving up. May be a restructuring of your debts might be the answer. Most banks I know do not want short sales or foreclosures any more than the sellers. Remember that financial institutions are not in the business of owning. They are in the business of lending. At this stage, you need to think positively and creatively and avoid the opinion of nay-sayers. And please don't rely only on the opinion of one person.

Good luck.

Michel

I would recommend doing a short-sale. We would sell your property at market and the difference can either be forgiven or left on you credit. This will depend on the banks policies. It will also depend on your financial standing.

Other companies charge a fee. We don't charge. The commission and closing is also paid by bank, so no out of pocket for you.

My team specializes in short-sales. Let me know if we could be of help.

Thomas, if your qualify to sell your home as a short sale you then have the opportunity to sell your home that you can no longer afford. Due to markets declining nationwide particularly hard hit in Florida, many homeowners like yourself find themself in a situation where they must sell their home to avoid foreclosure. This is exactly what a short sale can do for you: avoid foreclosure. Where in Florida is your condo located? Contact a Short Sale specialist in your area who can advise you. If your condo is in my neck of the woods, feel free to email me or call me as I'd be glad to clarify it all for you. You have choices that can help you so seek them out.

Feel free to visit one of my sites below and once there take a look at some of my other sites for additional information on short sales ( look under Useful Links)

The bank is telling you that you must be at least two months behind on payments to consider a short sale. Your credit will suffer anyway--and if you can't make the payments, you can't make the payments. This is exactly what a short sale is!!