Short Sales in Hollywood, Florida | Key Factors to Consider
If you are looking for short sales in Hollywood Florida, call us today for a free consultation. We have made hundreds of Florida short sales since 2008 and are here to help you avoid foreclosures.
Our expert team at Florida Homeowner Solutions comprises of in-house negotiators dedicated to bringing you the hassle-free experience of a short sale. We guarantee you a reputable service and the best possible negotiation in short sales from the start to the end.
If you work with us, we will also provide you with the best of our members, who are Florida short sale specialists with more than 20-year experience in the short sale Hollywood business and have experience dealing with banks and lenders with a success rate of 99%.
What Is a Short Sale?
A short sale is an escape from Foreclosure. It is the sale of a real estate property when the homeowner is in a situation of financial distress at a price lower than what they owe to the money-lender on their mortgage. In this case, the money-lender gets to take all the decisions and has the right of final say regarding the proceedings and deficiency judgment.
The Short Sales in Hollywood Procedure
Our short sale specialist will always be there to assist you through all the steps:
- Listing of the property for a short sale.
- Filling out the short sale application form sent by the concerned bank.
- Documentation of necessarily required papers for the package.
- Determination of the value of the property by an appraiser of the bank.
- Negotiation in the short sale price and your relocation.
- Approval of the short sale to avoid you paying on the mortgage.
How Can a Short Sale in Hollywood, FL, Be Benefitting?
A short sale in Hollywood, FL, can be benefitting with us to the extent of covering your credits, giving you a waiver of deficiency, and also protecting your record from attaining the label of foreclosure. There are some additional benefits to a short sale:
- Absorption of the debt, as most of the debt is paid by the home buyer.
- You get saved from the additional payments, such as the commissions involving the agent and others.
- With this procedure, you get a free stay of four-six months without any account on your mortgage until the short sale gets accomplished.
- Potential chance of debt forgiveness when the lender accepts the short sale proceedings and labels the low amount as a loss.
- It affects your credits for 12-18 months and does not affect your immediate loan application or future employment.
Foreclosure Vs Short Sale: Which Is Better?
Regarding foreclosure, there are chances that the money lender will try to acquire all your equity despite you paying the entire mortgage amount, that is, through charging your penalty fees, interests, and other additional fees. Therefore, it may ruin your credit scores and eventually cause more damaging effects on your prospects.
In some cases, it might also conclude in bankruptcy. However, in the case of a short sale, the process is lenient with lesser implications on your credits, making it a better choice for you.