Are you behind on your mortgage payments

Are you behind on your mortgage payments

Are you Behind On Your Mortgage Payments In Orlando Florida The Giff Group Short Sales Specialist 407 445 7009 orlandoshortsalesnow.com There are many reasons why someone falls behind on their mortgage payments.. Some examples includes divorce illness loss of income family emergencies to name a few. Whatever the reason may be a lot of times this cannot be avoided. The question then becomes what to do when you find yourself in this situation. There are a few choices available in this current market. 1. Do a Loan Modification 2. Do a Forebearance with your lender 3. Sell the home 4. Deffer paymens On of the commonest problem in selling your home maybe that there is no equity in the home to sell it or the value of the home is more than the current market value. Lets s discuss this scenario. If you decide to sell your home and it is worth more than the current market value you can still sell it by doing a short sale. The question becomes What is a Short Sale A short sale is a sale process where a homeowner is asking their mortgage bank to take a lower pay off amount than what is owed. Which means for example if your mortgage pay off is 200 000 and your home is worth 150 000 then you would need to do a short sale to ask your lender to take a pay off of 150 000 instead of the 200 000 that you really owe them. This is the short sale process in a nut shell. If you are behind on your mortgage payment and you decide to sell your home then a short sale is one way out if there is no equity in the home or it is worth less than what you owe. You will need an experienced short sale agent to help you with the process. You should also consult an attroney and a financial advisor to get as much advise as you can . We have a helpful website that can provide some helpful information regarding the short sale process Orlando short sales can be successful if you have the right team on your side. If you have already abandon the home there is still help. It is always better to do a short sale than going into foreclosure. Especially if you are planning to buy another home or car or even new employment. Some employers are pulling your credit report to hire you for a job. You definitely want to keep your credit as best as you can. Also you don t have to be behind on your mortgage to do a short sale. A short sale can still be done if you are current on your mortgage with some lenders and some will accept a 30 day late. We have created a fan page to keep you informed of all the changes as they become available for a short sale. There is consist changes that occurs by individual basis quite frequently. Become a fan of our page to stay informed of the changes as they come along. Information will be essential in completing a successful Orlando Short Sale To determine if you need to do a Short Sale you will need to know the value of your home to determine if it qualifies as a short sale. Get the value of your home and then you can start the steps of an Orlando Short Sale. Information and Knowledge is power for this process and you will need a few professionals in your corner who understands the process and how to work with each individual Lender. Each Lender works differently The Giff Group as being doing short sales before it became so popular in the market place. We have completed several successful short sales and know the ins and outs of most Lenders. Give us a call to discuss your individual situation. We will connect you with the right professionals to get the process started. Call us at 407-445-7009 or email giffgroupsellshomes(at)gmail.com Article written by Sandy Giff Associate Broker The Giff Group 407 445 7009