Fort Myers Lee County- Cape Coral Florida Foreclosure. Realtor Says Get Some Advice!




 Joe Kendall Realtor with Sandals Realty 239-560-0726 writes;  Todays real estate market around the country has a lot of people facing foreclosure. Which I am sorry to hear and talk about this subject as I know it effects a lot of peoples lives, but I must say you may have some options. I have talked to several people over the last few weeks and everyone situation is different. But I believe in trying to sell your home before it goes to a foreclosure sale and it remains on your credit record. I would suggest you do everything in your power to avoid foreclosure and work with the banks toward a solution everyone can agree with. 

First of all let me explain a few terms that the banks refer to during the foreclosure process! Let me in real easy to understand terms, explain what a short sale is and a Deficiency Judgement is in regards to  the foreclosure process.

A short sale is when the bank accepts less money for the property then what the current home owner owes on the mortgage and sometimes they might even sell it less then current market value of the home. 

A Deficiency judgement happens when the banks sells it for less then the amount owed and makes you liable/ accountable for the difference. They could file a deficiency judgement against you after the foreclosure.  I am not a attorney and let me make this real clear, I am not giving you legal advice, but I highly suggest you talk to a real estate attorney and maybe your tax accountant and get their opinion on your situation as everyone situation is different. They will advise you to what options are best for you. 

If you have decided that selling your home is the best option? Then by all means call your lender talk and send then a Hardship Letter  in this letter explain your current situation in detail, why you are behind in your mortgage and ask for their help working a workable solution for both you and the lender. The banks and mortgage companies do not want to own houses or manage vacant homes. Home buyers are looking for homes priced under valued and you may be able to sell your home with the right marketing plan, correct pricing and strong  negotiating approach. You have a chance to get the relief from foreclosure. It's not a guaranteed process, but it just might be worth it to try! 

 There is much more information I can share with you! i didn,t want to put to much information in here that now one would read! Please give me a call any time, I would like you help you ! If I an! Never say Never! 




 Listing and Selling Southwest Florida Homes, Condos Waterfront & Luxury Homes!



Joe Kendall BROKER "Broker Joe"

Keller Williams Realty Fort Myers & The Islands,

16 years of experience to offer You!

Fort Myers / Fort Myers Beach / Cape Coral / Bonita Springs / Naples/ Sanibel Island 

Search all the homes for sale located in Southwest Florida here

Phone 239-560-0726



Comment balloon 3 commentsJoe Kendall Broker • October 17 2007 06:56PM


Would you mind explaining...

Deed in lieu of Reduction

Modifications(expenses and what lenders offer them) 


Posted by Aslan Realty Advisors, LLC, Staying a step ahead with Pride! almost 12 years ago

A Deed in lieu of foreclosure is a deed instrument in which a mortgagor (the borrower) conveys all interest in a real property  to the mortgagee (the lender) to satisfy a loan that is in default and avoid foreclosure proceedings.

The deed in lieu of foreclosure offers several advantages to both the borrower and the lender. The principal advantage to the borrower is that it immediately releases him from most or all of the personal indebtedness associated with the defaulted loan. The borrower also avoids the public notoriety of a foreclosure proceeding and may receive more generous terms than he would in a formal foreclosure. Advantages to a lender include a reduction in the time and cost of a repossession, and additional advantages if the borrower subsequently files for bankruptcy

Posted by Beatrice Cooper, (Finacial Destination ) almost 12 years ago


Beatrice, thanks for explaining this in detail I could of not said it better myself. I have been waiting for someone to jump in on this one. Thanks for reading and replying to my blog. 

Posted by Joe Kendall Broker, It's Always best to talk to "Broker Joe" (Keller Williams Realty of Fort Myers & The Islands) almost 12 years ago