Home Selling in 33020>Question Details

Lynn Walk, Home Seller in 33020

I have a home in Hollywood, FL that we want to sell it has gone to foreclosure and we are working with them

Asked by Lynn Walk, 33020 Wed Feb 27, 2008

in the loan modification department. How can I sell my home quickly? We are ready to leave South Florida for a quieter place. Our home has been appraised at $415000.00 1 year ago, realistically what can we expect for a sales price and time? WE are willing to consider any options at this point.

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Good afternoon Lynn,

You have indicated that you are working with your lender in the loan modification department. Are you trying to save your home by modifying your loan? Has your loan agreed to a loan modification that you can afford or are you simply wanting to sell your home and move out of south Florida? If you have a verifiable hardship you could gain approval from your lender to sell your home as a short sale. A short sale is when your lender agrees to accept less than what is owed for you to sell your home. When selling your home as s short sale it's important to have a Realtor representing you that is knowledgeable in the short sale process. A short sale Realtor will price your home based on comparative sales and active sales in your area to obtain a fair market value. Unfortunately, an appraisal from a year ago will not reflect current market conditions. If you have more questions about the short sale process please refer to my website and/or blog at http://www.activerain.com/blogs/lynnpineda
0 votes Thank Flag Link Wed Feb 27, 2008
It will be my pleasure to help you sell your house
Feel free to contact me directly at:( 954) 614-4274 cell or via email Dorina@ReFloridaHomes.com and I will be happy to assist you further.
I look forward to hear back from you. Have a great day!
0 votes Thank Flag Link Thu Feb 26, 2015
I am a real estate investor and I may be able to buy your home? I just would need a litle bit more information?

call me 954-756-2076
or email info@stellarREI.com
0 votes Thank Flag Link Sat Feb 21, 2009
Without knowing the address of your home, the specific features, ect. it is hard to quote you a realistic price. I am sure your bank is working on obtaining an appraisal to establish the going price. If you would like more information, please contact me and I will be more than happy to discuss it with you.

Maritza C. Jorge, PA
0 votes Thank Flag Link Tue Nov 18, 2008
Where are you in the process of foreclosure? One year ago prices are just that...1 yr ago...pricing today will depend on what's for sale now....what is under contract andwhat has closed and how long ago. Agreesive pricing with agressive marketing should free you up to pursue the life style you are looking for. Let me know if I can be of further service. Jeff Holloway, P.A. 954-646-8483
0 votes Thank Flag Link Thu Nov 6, 2008
Most people do not realize that they can stop foreclosure even if they stopped paying their mortgage. Many recent cases have been filed improperly and an experienced attorney can assist with the identification and filing of substantive and procedural defenses with the court and vigorously defend your case. Due to the lender's actions, omissions or other facts surrounding your case, you may be able to stop making mortgage payments and stay in your home while your attorney vigorously defends your property. This does not necessarily mean that you will not have to pay the loan back or completely Stop Foreclosure. It is possible to completely Stop Foreclosure if the bank or lender is in violation of the Florida Unfair Lending Act or other predatory lending practices. If the lender has committed such a violation, the entire principal and interest balance may be waived and the mortgage may be voided. This may not be relevant in your case. But, at the very least, a successful defense can do is buy you precious time to:

* Stay in your home
* Negotiate a work-out with the bank
* Sell your home for a fair price
* Refinance your home at a fair rate
* Continue to collect rent on the property
* Apply for a Court Ordered repayment plan
* File a Chapter 13 or 7 Bankruptcy

When home owners are faced with the reality of facing a potential foreclosure, many experience a state of paralysis. They don't know what to do. Selling the home may not be an option since the equity appears to have vanished. To fight foreclosure or not? That is the question. Clouding the answer is perhaps the biggest misconception, "Hiring an attorney is not a cost-effective option." If I can't afford to pay my mortgage, then how in the world can I afford to hire a competent attorney? And why should I, if I am upside down in my home? First of all, EVERYONE can and should hire an attorney to represent them in their foreclosure case. There are many competent attorneys who specialize in this area. Due to the growing number of these cases, many attorneys have become "experts" in this area. Due to the fact that most of these cases are very similar, many excellent attorneys have experienced staff and can offer extremely affordable payment arrangements. Most people don't know that once the foreclosure proceeding has started, the bank will not accept any future mortgage payments - doing so may adversely affect their ability to foreclose on your property. Furthermore, the bank pays any delinquent real estate taxes and the insurance on the property. In summation, once the bank files a foreclosure lawsuit, most of the homeowner's expenses are being paid by the bank (mortgage, taxes and insurance). However, as the legal owner of the house with full possession, you have all the rights associated with same including residing in your home, collecting rents on the property, etc. Imagine the "EQUITY" you can save / build, if you fight the foreclosure case for a year or more. The cost of qualified legal representation is a drop in the bucket compared to your typical home ownership overhead. Time is money and the real estate and financial markets are likely to turn around. The hiring of the right attorney will save you thousands of actual dollars, in addition to thousands in time value of money. Its really a no-brainer.

Frederick A Neustein
0 votes Thank Flag Link Wed Nov 5, 2008
The lender has agreed to a loan modification, when we began the process in December it was to save our home, they have offered that when we pay 4 months of our existing rate they will modifiy the loan, however we have decided that we have had enough of south Florida and are ready to sell and move on..Thank you for your assitance and I am going to check out your webiste for more information.(we also have a second mortgage so I am not sure how a hsort sale would work) A friend told me about Trulia and now I am glad I looked it up..Thank you.
0 votes Thank Flag Link Wed Feb 27, 2008
I am not familiar with the term short sale, obviously some cash to start over would be nice but at this point we have to be realistic and find a way out of this house wihtout hurting our credit further or carrying a large debt with us.
0 votes Thank Flag Link Wed Feb 27, 2008
Have you thought about selling it as a short sale? Or are you trying to get some money out of the home. There are so Many ways to sell quickly. You just need to make sure your agent knows what they ate doing.
Web Reference: Http://www.neerpat.com
0 votes Thank Flag Link Wed Feb 27, 2008
You really need to work with a professional Realtor that knows your area. They can review with you recent sales in the last six months. also what is now on the market. Knowing your competition is critical also....You want to be the best bargain out there.
0 votes Thank Flag Link Wed Feb 27, 2008
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