S.W. Florida Broker Joe

Search for all of  Cape Coral Waterfront Foreclosures and Cape Coral Bank Short Sales can be found by clicking right  here

Cape Coral, Fort Myers and Lehigh Acres Florida. successfully closing a Short Sales is a way to move on with your life and move forward without ever having to worry about the bank coming after your future !

Why Do The Banks Accept a Short Sale?

(1) The mortgage is in arrears better know as in Pre-Foreclosure or is currently scheduled for Foreclosure Proceedings at the local court house/ tax collectors office.

(2) The property is in very poor condition and is not worth much more then land value or the home owner is in a  hardship and the seller can prove with documentation they are in a hardship can no longer able to afford the payments or can not catch up the mortgage payments.

(3) The Bank’s Stockholders, Management or maybe even the Board of Directors are concerned about their REO  Inventory ( bank owned ) when there are too many defaulting loans in the same city or community.

(4) The bank review their inventory monthly,  if they are  setting on to many faulting loans on their books  they could agree to accept several short sales! Many times it goes according there books and not on a loan to loan case bases like many people think.

(5) Too many homes that are bank owned setting on vacant homes that are a liability to the lender ! Banks and mortgage companies normally do not place property insurance on  their bank owned properties.

Have questions about Bank Short Sales? I can help you with understanding the process!

I look forward to taking to you.

Joe Kendall, Broker Associate with Sandals Realty Cape Coral, Fort Myers Florida writes, Here is a letter I received from one of my clients after closing his short sale. Here is what my client says about my Bank Short Sale Services.

Hi Joe:
I want to take this opportunity to thank you for all of your help in the recent sale of my property in Ft. Myers. It would have been very difficult, if not impossible, for me to have negotiated this sale on my own. The decision to sell this property in a short sale was not an easy one for me to make. You were honest with me from the beginning and you helped guide me through the process with professionalism and tenacity. You were available to take my calls at any time of day or night, and on weekends too. Most of all, you were available to listen, and you were patient with me when I was not.

Thank you again for all of your help,

Ed Pattersone

I can help you avoid foreclosure, let my years of experience work for you too!  Lets talk and see about your situation and if I can help you.

Like I always say;  it's not about me, it's all about You!

Thinking of short selling your home located in Cape Coral, Fort Myers or Naples Florida? I would like to give you a list of required documents your lender will require from you to obtain an approval for a bank short sale. 

Financial documents the bank will require from you are:

    (A) Your most recent pay stubs

    (B) Your most current Bank Statements

    (C) Copies of your last two years of tax returns

    (D) Your lender will provide you with a financial form for you to complete. ( Not all mortgage lenders will but most do )

The bank may ask for additional documents or a personal letter from you to explain an issue. If you have two loans out on your home with different banks, the second lien holder will most likely request the same financial documents.

As with most short-sale transactions, you can negotiate what you can afford to pay. One of my closing had the bank asking my client for $12,000 from the seller, but the seller showed he could only afford $1,500. The bank did agree to the lesser amount.

The seller walked away from a $335,000 dollar mortgage with a $1,500 payment at closing and a $3,000 promissory note interest free to be paid over 5 years, for the release of any future deficiency amount after the closing from the short sale.

Let have coffee and talk about your situation and see if a bank short sale is right for you!

Fort Myers, Naples and Cape Coral Florida Foreclosures and Bank Short Sales. The foreclosure real estate market in Fort Myers, Cape Coral and Naples Florida comes in Every shape, color and style ! Today's foreclosures in southwest Florida gives the Home Buyer an "Opportunity of a Life Time " for many people to find their home of their dreams in Paradise!

Search hundreds of foreclosures, bank owned and bank short sale property by clicking HERE

Cape Coral * Fort Myers * Naples Florida * Free Loss Mitigation Services !

Are thinking about avoiding foreclosure ? FREE bank short sale services to home owners !

We have successfully closed several Bank Short Sales. Please allow my experience team help you understand the bank shorts sale process, and provide you with information that will:

I HELP YOU UNDERSTAND IF A BANK SHORTS SALE IS RIGHT FOR YOU.

I DO NOT CHARGE YOU A FEE FOR OUR SERVICES! OUR FESS ARE PAID BY THE BANK. 

Call Joe Kendall  directly at 239-560-0726 with any of your bank short sale, loan modification and loss mitigation questions ! 

Read the Google Search Results for Bank Short Sale Expert in Southwest Florida Here

I have been successfully closing bank shorts Sales since 2007 with all he major lenders such as Bank of America, Countrywide Home Loans, Citi Bank, Chase , Welsfargo, Saxton,  and many independent banks , mortgage companies and credit unions.  

Before you buy a condo for sale located in the cities of Fort Myers, Estero, Naples and Cape Coral, many of southwest Florida properties are located in deed restricted communities. The reason for this post is to help you the home buyer to understand the different types of Home ownership in communities.

Home ownerships Associations (HOA) are normally in a gated community with golf and tennis. Gated communities are normally deed restricted, these is mostly desired by a home buyer looking for conformity in a community. it's always best to work with a real estate professional that can sort all this out for you the restrictions and explain them in detail to you of each community you visit.

Deed Restricted Community (DRC)

A DRC means it's a set of rules that runs with the land and you must abide by them. Meaning size/type of home, architectural style, vehicles restrictions (no commercial )  parking restrictions, boat dock, storage ,usage or ramp if any and items similar to recreational use and these are normally managed by the association and reviewed yearly. 

Various Association Types Defined

Condominium Association (Condo) - When you own a condo it's typically located in a building with several other units and home owners. Condo ownership everyone shares in the ownership of the common areas The common areas, for example, include the structure of your particular unit, each building, club house and pool !

All owners of a condo are members of the condo association and pay a condo association fees. The fee typically includes money for repair and maintenance, ( reserves for major capital expenditures!  very important and not all associations do this !), structure of the building and liability insurance for the common areas of the complete development.

The condo owner purchases (condo-owner's content insurance ) The cost for these is typically very low especially when compared to a homeowner's policy. When comparing monthly costs be sure include the cost for insurance plus the condo fee.

Home Owners Association (HOA) - is formed to manage a group of single family homes. HOA fees are levied to run the corporation and pay for items like common area maintenance, capital maintenance (e.g. club house or pool), The fees can include the exterior maintenance of lawns and landscaped areas.

Master Homeowners Association (Master HOA) - Master  Owners Association as the corporation formed will usually own, through deed, property that is common to a development where there are one or more HOAs and/or condos. 

it's always wise to work with a real estate professional when visiting these types of ownerships so you understand all the lifestyle arrangements in place in the different communities.

I would like to give you some tips in how to write a hardshipe letter to your mortgage lender:

Remember you are composing the "hardship letter" for your bank or your mortgage servicing company, do not write a book because most likely it will not get the attention of an over worked, $10 an hour loss mitigation employee and they will look at it as your trying to build up a case that you may not have in their minds from the start. The person that is going to read this is not an English major, but someone that understands general information that is factual.

Please Keep it to one page (Do Not Type It , but write it out with an ink pen or print the letter out in ink, again Do Not Type This Letter !) be right to the point, put the emotional aspect t in the beginning and in the closing your message. Like anything else, no matter what people read its always the first sentence and the last sentence people remember and registers in there mind as they process your thoughts you have just put to them on paper

Here is an example list of hardships that lenders consider:

• Illness  (explain before and after effects)
  
• Loss of Job ( what income you made before and now current, explain in the unknown future if it's unclear. 
  
• Reduced Income (what you made before and what is now current )
  
• Failed Business   ( how much was invested, how much money was lost and how this has impacted you currently)
  
• Job Relocation ( forced to relocate ( current mortgage payment and what your new mortgage payment will be in our new location ) show your current income can not support two homes in a simple math problem)
  
• Death of Spouse or C0-Borrower
• Death (supporting documents )
  
• Divorce (support documents )
  
• Marital Separation (how this has impacted your ability to pay all your current bills )  
  
• Reduced Income (what was it before and now )
  
• Medical Bills   List all the bills current and future balance , list how much money you are currently behind)
  
• Damage to Property (natural disaster or unnatural)
  

Now that you understand what your lender or servicer is looking for, it’s time to sit down and write a hardship letter. . Make sure you make it unique to your personAL situation. Do not talk about local or national media issues, make it very personal coming from your heart. This is a place where "Personal Drama" is good !

Remember that your hardship letter is a very important part of the workout process, but it's the seed you plant in the bank employee mind as they review your complete file over several days and is the driving force backed by facts and numbers that puts your life on the line for help and understanding of your personal situation.

Example Hardship Letter:

Name: (Your Name)

Address: (Your Address)

Lender Name: (Your Lender)

Loan #: (your Loan #)

To Whom It May Concern:

I am writing this letter to explain my/our unfortunate set of circumstances that have caused us to become behind in our obligation to maintain our current mortgage payments . We have done everything in our power to make ends meat but unfortunately we have fallen so far behind that it looks very bleak so we are asking for your help. (ADD YOUR PERSONAL, EMOTIONAL FEELINGS HERE )

We would like you to consider working with us to modify our loan or doing a bank short sale. Our number one goal is  to keep our home and we now have come to conclusion our dream home and all we have worked for our in-tire lives is coming to end end and we have to come to terms with this. Please understand it's very hard and we did not ask for ourselves to be in this situation we are in today.

The main reason that caused us to be so far behind is ( insert the No 1 reason here and be to the point   ) Soon after being late and our income not being no where near enough, we had fallen further and further behind. It’s now to the point where we cannot continue to catch up or pay what is owed to you. It has always been in the past and up to now,  to fully meet our monthly obligations to pay what we owe and stay current. But at this time we have exhausted all of our income and resources so we are asking for your help.

(The approximate date start of the hardship, we believe that our situation is ? on future timetable is ? )

Our situation has got-ton worse because (reason here) and we feel that if you could rework our loan balance and mortgage payment or agree to do a short sale? We feel this  would benefit us and (the name of the lender here). We would appreciate if you can work with us to lower or delinquent amount owed and or payment so we can keep our home and also afford to make amends with your firm.

We truly hope that you will work with us and together we can get this settled so we all can both move on.

Thank-You for your time in considering me and my family's  under these hard and difficult times

Borrower’s Signatures

Date

Co-Borrower’s Signature

Here is your chance to purchase a outstanding well maintained custom build waterfront home in Cape Coral Florida at a HAFA Bank Approved Price! This 3 Bedroom, 2 Bath home is located on intersecting canals with over 300 of concrete seawall and boat dock! The great fishing is awaiting you! Amenities include a great open floor plan, huge master suite, title through-out, vaulted ceilings, and is designed for the person who like to entertain family and friends! Call Joe Kendall today at 239-560-0726 to schedule your very own personalized showing.

Enjoying evenings right here on The dock with "Western Exposure" where the "Nightly Sunsets Are Amazing!

View Larger Map