Should I Short Sale My Coral Springs Home?
This has got to be one of the most frequently asked questions and also the one that has the most judgmental responses. There are countless reasons why a Coral Springs homeowner would decide or should decide to short sale their home. Some may have been laid off and couldn’t keep up with the payments anymore and some could be worried with their savings – having used it all up through the loss of equity in their Coral Springs Fl home. In other words, these homeowners could no longer afford to continue to throw money down the drain. All of these are factors in making the decision of short selling your Coral Springs home.
The first thing you need to discuss with the family is your budget. Are you currently unemployed or were you laid off from your job? If that is the case, what jobs are you looking into? Is it likely that you’ll be able to land one of those jobs? If you’re planning on starting a business, how probable is it that you’ll be able to start it? Is this income stream strong enough to support the amount needed to make the mortgage payments? Or if you’re late, will it allow you to catch up?
How far behind exactly are you on your payments? Were you declined for a loan medication by your lender? Where do you plan on moving if you do decide to go through with the short sale? We’ve helped a number of homeowners determine that renting a home will not only give them less space, but will actually cost them more compared to trying to find ways to keep their home. For situations like this, it’s not advisable for homeowners to do a short sale.
Do you have investment properties that are not producing enough profit to make the mortgage payments due to the real estate market crash?
Do you just want to walk away from your home or your property and leave the keys on the table?
These are the questions that continuously plague the mind of homeowners in Coral Springs Florida and other areas in Palm Beach County.
In most situations, doing a Coral Springs short sale is a better option than having a foreclosure case against you and the judgment that the banks are entitled to after the foreclosure.
There are also some programs that you can be approved for where your lender can give you $3000 to help you move and in some programs, the amount that the lenders gives can go up to $20,000.
Although we cannot guarantee that you’ll be approved for one of these incentive programs, we promise you that your call to us is completely confidential. Over the phone, we will perform a short sale intake evaluation with you and discuss what your foreclosure options are.
