Naples Real Estate. A short sale can be an excellent solution for home owners who owes more then their current home is worth today and have found that paying the current mortgage ( keeping it current ) has become no longer possible.
Naples Florida short sales have greatly increased over the last 6 months as Banks and Mortgage lenders have stream lined the short sale process and now are accepting more short sale contracts now then they where just 6 months ago.
Here is the real definition of a short sale:
- A homeowner is 'short' when the amount owed on your property is higher than current market value.
- A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies, if you have more then one mortgage on your property ) to accept less than the full balance of the loan at closing.
- a HARDSHIP LETTER is required to explain to your lender what has happen in your current situation that dose not allow you to continue paying your mortgage payment.
Call me today and I will explain what required documents you will need to provide your lender at time of accepting a contract for the short sale.
I look forward to talking to you.
Joe Kendall, Broker Associate
Right Choice Realty
Phone 239-560-0726
Email joek4realestate@aol.com
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