Orlando FL Real Estate Home For Sale | Torey Eisenman: October 2010

Distressed Real Estate Solutions

There are many people in the market place that are not sure what to do with their current real estate investments. These are times that it is necessary to make educated business decisions. The key here is EDUCATED decision.

Speak with an accountant and or an attorney. You typically do not need to retain an attorney until a Lis Pendens is filed (Lawsuit). Understand your rights as a consumer.

Understand the difference between a short sale and a foreclosure.

  Short Sale:Once closed your loss is defined. A primary residence that qualifies under the HAFA   http://bit.ly/beZQZaprogram could prevent future liability toward a deficiency. Be careful of HELOC loans that were used to purchase anything other than home improvements. As of today you can qualify for a Fannie Mae Loan 3 years after your short sale closes.

  Foreclosure:This has many unknowns. Did you realize all expenses incurred once the bank forecloses on your home are your liability. Yes, they are pursuing these deficiency judgments. In addition, you will need to wait 7 years prior to getting another loan.

http://bit.ly/shortsalevsforeclosure

Get educated and understand the pros and cons of the decision you make. We feel that a short sale is far more beneficial to all parties over a foreclosure.

CONTACT US

Benchmark Real Estate Group

321-422-4729

 We will be happy to educate you on the short sale process. We work with Luxury Properties as well. Click this link for additional Information regarding the process procedures.

http://bit.ly/informationaboutselling

EDUCATION IS KEY

 We have a 100% Success Rate in Closing Short Sales

 

Authored by: Torey Eisenman

Comment balloon 2 commentsTorey Eisenman • October 27 2010 12:56AM
Distressed Real Estate Solutions
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There are many people in the market place that are not sure what to do with their current real estate investments. These are times that it is necessary to make educated business decisions. The key here is EDUCATED decision. Speak with an… more
Short Sales
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SHORT SALE: A short sale occurs when a homes market value is less than the mortgage balance. Qualifications: A borrower that experiences a hardship tends to qualify for a short sale. A hardship is defined as a loss in income,… more