Are you facing the risk of foreclosure? Paying a mortgage that is more than your property is currently worth? You might want to consider a short sale. A short sale allows you to negotiate with your lender to settle the mortgage debt for less than you owe and avoid the financial consequences of a foreclosure.
The legal professionals at Atlantic Coast Title & Escrow are here to help explain the advantages and disadvantages of a short sale to help you make a well-informed decision.
A short sale is a real estate transaction in which the earnings from the sale of a property are less than the actual amount owed on the mortgage loan, and is used as a loss mitigation strategy. It is typically performed when a homeowner faces financial challenges and wants to sell the property quickly to avoid foreclosure. In this case, the homeowner agrees to take a discounted payoff from the buyer to avoid the costs and financial consequences of foreclosure.
At Atlantic Coast Title & Escrow, we are experienced in real estate matters and can provide quality title, escrow, and real estate closing services to homeowners in Florida.
If you are facing the risk of foreclosure in Florida, we can help evaluate your situation to determine if a short sale is the right solution for you. Contact us online or call (904) 853-5591 to learn more.