Lake Mary Short Sales

Mortgage Forgiveness Debt Relief Act extended to January 1, 2014

Mortgage Forgiveness Debt Relief Act extended to January 1, 2014

By Debbie Summers, Lake Mary REALTOR on January 2nd, 2013
If you are underwater on your mortgage and have been thinking about selling your home via a short sale - Do It Now!  The House and Senate passed H.R. 8 yesterday, legislation to avert the so called “fiscal cliff”. One of the provisions of the bill, which President Obama signed today, extends the Mortgage Forgiveness Debt Relief ... [Continue Reading]
Underwater Mortgage? A Short Sale Can Save You From Drowning in Your Lake Mary Home!

Underwater Mortgage? A Short Sale Can Save You From Drowning in Your Lake Mary Home!

By Debbie Summers, Lake Mary REALTOR on September 4th, 2012
Just 6 years ago the words ‘short sale‘ were not part of our vocabulary and the housing market was still full of steam. Today we continue to mop up the remains of a burst housing bubble and are only beginning to see new signs of life in the Seminole County housing market. Is Your Mortgage ... [Continue Reading]
Homeowners Who Want To Do A Short Sale Need To Close In 2012

Homeowners Who Want To Do A Short Sale Need To Close In 2012

By Debbie Summers, Lake Mary REALTOR on February 14th, 2012
When a homeowner sells their home via a short sale and the lender waives the deficiency balance for a homeowner, it’s considered a “taxable event”. The lender informs the Internal Revenue Service about the agreement by submitting a “Form 1099-C” (Cancellation of Debt).  Normally a home seller would owe taxes on the “income”, but the ... [Continue Reading]
Bank of America Wants Homeowners To Avoid Foreclosure

Bank of America Wants Homeowners To Avoid Foreclosure

By Debbie Summers, Lake Mary REALTOR on October 17th, 2011
Are you a Lake Mary homeowner in financial distress? Do you have a mortgage with Bank of America? Bank of America is encouraging distressed homeowners to explore a short sale as a viable option for avoiding foreclosure.  As an additional incentive, for a limited time homeowners can receive relocation assistance* by contacting them prior to receiving ... [Continue Reading]
The Secret to a Successful Short Sale…

The Secret to a Successful Short Sale…

By Debbie Summers, Lake Mary REALTOR on April 28th, 2011
What’s the secret to a successful short sale? Is it the homeowner’s hardship? Is it the buyer’s ability to be patient? Is it the contract price to market value ratio? Is it the lender’s willingness to cooperate in the short sale? Is it the homeowner’s willingness to share their personal and financial information? The above ... [Continue Reading]
7 Reasons to Avoid Foreclosure

7 Reasons to Avoid Foreclosure

By Debbie Summers, Lake Mary REALTOR on March 22nd, 2011
Don’t be a statistic… Avoid Foreclosure! You’ll be surprised to learn that many times when a homeowner is in distress they give up, without ever seeking an alternative to foreclosure.  Perhaps they don’t understand the process or feel like they no longer care, help is out there, all you have to do is ask. I’m ... [Continue Reading]
Strategic Default = Foreclosure!

Strategic Default = Foreclosure!

By Debbie Summers, Lake Mary REALTOR on March 17th, 2011
Foreclosure by any other word is still FORECLOSURE! Do you know that 36% of Americans would consider “strategic default’ – just a catchy term for walking away from your mortgage – if they were underwater (owned more on their home than what it was worth)?  There is a growing trend of distressed homeowners who have ... [Continue Reading]
Avoid Foreclosure… Short Sales Sell!

Avoid Foreclosure… Short Sales Sell!

By Debbie Summers, Lake Mary REALTOR on January 3rd, 2011
There are a lot of misconceptions and half truths circulating online about Short Sales. The truth is that Short Sales really do work and homeowners avoid foreclosure. In order for a short sale to be successful the REALTOR who represents the seller and lists the property must understand how to qualify, prepare and execute the ... [Continue Reading]
Want a Short Sale? Guess what your Mortgage Holder wants to Know…

Want a Short Sale? Guess what your Mortgage Holder wants to Know…

By Debbie Summers, Lake Mary REALTOR on December 17th, 2010
In order to get a Short Sale… You have to tell them EVERYTHING! When a homeowner contacts me to talk about a short sale [selling their home for less than what they owe on their mortgage(s)]. I give an overview of the process, the time frame that a short sale can take to be approved ... [Continue Reading]
5 Truths About Short Sales

5 Truths About Short Sales

By Debbie Summers, Lake Mary REALTOR on December 15th, 2010
What are you hearing about Short Sales? 1. Short Sales save homeowners from Foreclosure… 2. Short Sales don’t close… 3. Short Sales are value priced… 4. Short Sales are a waste of time for buyers… 5. Short Sales are here to stay… The truth about Short Sales… Homeowners in distress can avoid foreclosure by selling their ... [Continue Reading]
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