Considering a Short Sale?
A short sale is when the lender will accept less than the full amount due on a mortgage when a property is sold. Usually, the lender will accept the short sale to avoid the time and expense of a foreclosure. After the short sale, The lender still has options to try to collect this shortage. As a condition of the short sale the lender may require the borrower to sign a note to repay the shortage. They may also file a collection or a judgment for the amount of the shortage this is called a “deficiency.”
Foreclosure Jacksonville will walk you thru the Short Sale process. From listing the property at a proper price to negotiating or eliminating the deficiency. If you are looking to buy a foreclosure, Foreclosure Jax can help you as well. Foreclosure Jax will help you make a proper bid on the property and help you expedite the short sale. Call for a free 30-minute consultation: 904.624.1001
- Looking for information regarding your short sale options? Give us a call.
Deed in Lieu of Foreclosure
It means a deed instead of foreclosure. Simply stated, it means the borrower will voluntarily give the lender a deed to the property in order to avoid foreclosure. Deed in Lieu is another alternative to Foreclosure but it is one that requires a lot guidance. For many lenders this is the last alternative. Foreclosure Jax can guide you through this process and help you obtain a deed in lieu.