Short Sales, the Alternative to Foreclosure

Are you on the verge of losing you home in a foreclosure due to loss of job or a reduction of income? Maybe you have already lost hope in saving your credit as much as possible and have resolved to the fact that you will have a foreclosure on your record that will prevent you from purchasing another home once you are on your feet again. You have a solution you may not be aware of that will save you from having a foreclosure or possible bankruptcy on your credit report for years to come.
Orlando has a program that is referred to Short Sales; this is the process in which your lender will allow you to sell your house for less than what you owe and basically remove the difference that still remains. This program is very helpful to the individual that “upside-down” in the home. What this means is that your balance due on your mortgage is actually more than what your home is worth. When this happens and you fall behind on your mortgage for whatever reason it can close to impossible to sell your home in enough time to avoid your lender foreclosing on your home.
Purchasing a home that is in Orlando and the mortgage holder as approved for a short sale can be very beneficial in saving you money. When you are purchasing a home in this manner you are able to avoid paying some of the extra fees that are attached to a foreclosure, and your realtor will be in direct contact with the lender so you will only have to worry with the sale price and when to close on your new purchase. Imagine being able to purchase a home for far less than what you would if the property was not in distress! Working with an Orlando real estate agent that is knowledgeable in the area of short sales will be able to let you know of the properties in the neighborhood you prefer that are available through the short sales program.
Orlando short sales are growing rapidly with the fall in the economy and people suffering from job loss or a reduction in income. This program helps the seller, the lender, and the purchaser. As the seller you are able to avoid a foreclosure and the added expenses that accompany one; as the lender you are not losing as much money on the property as you would be if you had to follow through with the process of a foreclosure; and as the purchaser you are saving a ton of money purchasing a home that is being sold as a short sale. Get in touch with a knowledgeable and reputable Orlando real estate agent today to discover your bargain property.