Short sales may be the best option available. A short sale is where the owner sells the property for less than the mortgage owed. This is a time consuming process and has its positive points as well as its negatives.
However, each individual’s circumstances are different. Your lender must be involved from the start. Contact me and I can get the process going or answer your questions.
Foreclosure and bankruptcy are serious matters. Although not a death sentence, real estate agents are rarely legal experts so consult an attorney if either of these is a consideration.
I know a few real estate attorneys in Florida and will gladly provide the names and you can go from there. Just drop me an email..
There are some good books that may be a first step in your research such as Bankruptcy, Foreclosure, Short Sales & Rebuilding your Credit - FINANCIAL RECOVERY
Foreclosure is not a death sentence. A short sale is not the end of the world. Bankruptcy is not the end of the world either. Most survive foreclosure as well as bankruptcy.
There are challenges that must be handled along the way for each of these and having the right professional, be it an attorney or real estate agent, can make the process easier.
Gary Waters, Florida license real estate agent, Bucci Realty, Rockledge, Florida.
Again, I am not an attorney so do not consider this as legal advice!