For many homeowners in Florida that are in Foreclosure, the best option may be a Short Sale while in Foreclosure. A Short Sale while in Foreclosure occurs when a homeowner that owes more on their property than it’s worth, sells their property for a discounted rate, while resolving the foreclosure and preventing any further action by the Bank against the homeowner.
The advantages of a Short Sale is that if the Bank accepts the offer, the Bank may waive the deficiency amount against the homeowner. This means that while the Bank is accepting a reduced amount on the sale of your property, they will agree not to pursue further action against the homeowner for the amount that they lost on the property. A Florida homeowner that is in Foreclosure has the ability to sell their property through a short sale until their property is sold at a Foreclosure Sale Auction.
Many Banks prefer a homeowner sell their property through a Florida Short Sale rather than offer a Florida Loan Modification because they are at least receiving some of the money that is owed to them. Another advantage of a homeowner selling their property through the Florida Short Sale process during Foreclosure is that if there is an upcoming Foreclosure Sale Auction and the Florida Short Sale is almost completed, the Court will likely cancel the Florida Foreclosure Sale. This allows the homeowner additional time to sell their property and avoid the Foreclosure of their home.
954 Foreclosure Attorneys, PLLC and their aggressive, experienced, and knowledgeable Broward Foreclosure Defense Attorneys have assisted hundreds of homeowners with a Short Sale while in Foreclosure. If you are a homeowner in Florida and need to sell your property through a Short Sale while in Foreclosure, contact 954 Foreclosure Attorneys, PLLC today at (954) 237-7740. We can be reached twenty-four (24) hours a day, seven (7) days a week. To better serve our Foreclosure Defense clients, we have offices in both Broward and Palm Beach County