Strategic Short Sales In Palm Beach County Florida
Palm Beach County Short Sale Agents are experienced in strategic short sales.
The number of homeowners who are choosing to do strategic defaults is estimated to be at 31% this year up about 9% over last year's estimated 22%.
Strategic defaults are happening more in Palm Beach County Florida because their lenders are not approving loan modifications or refinances because the mortgages are too far under water to be approved. There is a huge disconnect between the homeowner and their lenders.
Around 10,000 homes were in some stage of foreclosure in Palm Beach County and Broward county in May of this year according to RealtyTrac Inc.
As this sore festers it turns into an infection of apathy. Most homeowners start off attempting to perform workouts with their lenders. Yet as their pleas fall on deaf ears they soon become hardened towards their lenders.
Doing a strategic default most often can best be resolved by switching the choice of walking away into a positive work out case of a strategic short sale.
In a strategic short sale the homeowner lists their property with a Palm Beach County short sale agent who will implement a specific pricing strategy and marketing plan. Once there is an offer on the table, the homeowner and their agent will put together a short sale package that they will send to the lender.
The homeowner gives their agent an authorization in writing to speak in their behalf to their lender.
Each strategic short sale is reviewed on a case by case basis.
Only the party that is liable for the note and signed the note when the house was purchased has to show their financials. You can have more than one person on title. All persons on title have to sign the listing agreement and the closing documents. But only the person who took the loan out has to qualify for the short sale and submit their financials.
Homeowners have choices. Maybe a strategic short sale is the right option for you. It is most often better than just leaving the keys on the table and walking away.
Don't Delay! Don't Wait Until The Sheriff Is Knocking On Your Door! Pick up your phone and call us to see if you can avoid foreclosure.
To view Welington Florida Homes For Sale Click here. We know Wellington Florida Real Estate and Wellington Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida: Call us today.
Copyright © By Katerina Gasset 2010 * All Rights Reserved* Strategic Short Sales In Palm Beach County Florida *
Great post - I see more and more of these strategic short sales initially due in part to such an inept valuation methodology (or devaluation) by the County Appraisers Office. Asking the County Appraiser how they come to such spiraling values;all you get is "% of something" per area code. It doesn't matter how the homes compare in the neighborhood. Your right, as a result the lenders will not work with the homeowners. In Palm Beach County, it's a mess and I've shared this concern with the Property Appraiser Office, more than once!