Avalon Lakes Short Sale | 13736 Mirror Lake Dr. Orlando
This is a Gorgeous 2 story home located in the highly sought-after gated community of Avalon Lakes. This house has been lovingly maintained and is move-in ready. This 2,219 square foot beauty has 4 large bedrooms and 2 1/2 bathrooms. It’s meticulously designed floor plan was created to be easy on the senses and great for entertaining guests. With great amenities like a community pool, fitness center and tennis courts this home is perfect for active families.
Property features
* Bamboo Floors
* Solid Wood Cabinetry
* 2 Car Garage
* 1st Floor Master Bd rm
* Community Pool
* Tennis Courts
* Fitness Center
* Playground
With easy access to major highways, this property is close to restaurants, shops, and entertainment. Don’t wait! This one won’t last for long.
Check out this investment property for a buy and hold or buy and flip. Orlando Short Sale | 4715 S. Texas Ave. unit B Orlando, Fl 32839. This is a 976 sq ft. condo with 2 bedrooms and 2 bathrooms located in the gated community of Millennium Palms. With a rehab cost of under 5k, this will be a sweet investment for a savvy investor.
Features:
*Open layout
*Granite countertops throughout
*Stainless steel appliances
*Community pool
*Community playground
*Good school district
This property is located close to shopping, restaurants, and entertainment and walking distance to public transportation. For more information on this or any of our other properties. Visit our site athttps://orlandorealtyconsultants.com/
This is a great short-sale property in Altamonte Springs. A 3 Bedroom 2 bathroom townhouse with 1,688 sq ft located in the very desirable subdivision of Country Creek Woodbridge. With a large fireplace in the family room and vaulted ceilings, this layout is both spacious and inviting. This property is located in a quiet neighborhood surrounded by mature landscaping.
Fantastic amenities such as 2 Olympic size pools, tennis courts, and large playgrounds for the kids are available to all residents.
With A schools in the area and convenient for shopping, this “must-see” condo won’t last long.
Here are just a few of the property’s features
* Large master suite
* Vaulted Ceilings
* Solid wood cabinetry throughout
* Large formal Dining room
*Lots of natural lighting
* 2-car garage
* Screened in porch
Easy access to schools, first-rate shops, and restaurants. A must-see!
Loan modifications have helped thousands of Orlando homeowners to keep their homes.
However, you must be aware of the fine print and know exactly what it will mean to you. Sometimes the terms of a loan modification are often worse than the original mortgage. The best loan modifications are when you are able to not only reduce your payment but reduce the principal balance of the loan. Many loan mods are structured so that your payment gets reduced but you still have to pay off the entire amount of the original mortgage plus penalties. In my opinion, these types of loan modifications are just not worth agreeing to. If your house is only worth $100,000.00 and your loan amount is $200,000.00 why on earth would you want to end up paying that entire amount?
Push for a loan modification with principal balance reduction
Banks will always try to get you to agree to what suits them better, this is why you have to be a tough negotiator, don’t just agree with the first proposal that they put in front of you. You have to remember that banks also want to come to an agreement. It costs lenders a lot of time and money to take someone through the foreclosure process. The best thing you can do is hire an Orlando real estate attorney that specializes in loan modifications. If you try to go at it alone with your lender, it could end up costing you a lot more money in the long run. Sure, a good Orlando real estate attorney may cost you a couple of grand upfront, but you’ll have a much better chance if you have an experienced negotiator in your corner.
5 things to watch out for when negotiating an Orlando loan modification
1- Your lender has the option of dropping all penalties. Don’t be bullied into a take-it or leave-it trap where they give you the option to pay off the penalties upfront or have them roll the penalties into the balance. You should demand that they wave all penalties as part of the deal.
2- Sometimes lenders will try to get you to agree that if they lose the original loan documents, you must assist the lender in reproducing them. As ridiculous as this may sound, it’s true and you should never agree to something like this. It comes down to the lender having additional legal protection if they screw up. A clause like this has absolutely no benefit to you.
3- Step by step rate increases that are too steep for you to afford or balloon payments that become due before you have time to be prepared for them.
4- Don’t agree to payments that you really can’t afford. When doing a loan modification, the idea is to make the loan affordable to you and your family. Be realistic, don’t put yourself into a position where your budget is soo tight that you’re only one major car repair away from being in default again.
5- Don’t agree to an interest rate that can automatically adjust based on an index over which you have no control.
An Orlando Short Sale may be your best option
As you can see, there are a lot of things that you need to watch out for when entering into a loan modification with your lender. The fact of the matter is that even when you have the bank’s best offer on the table, it still may not be good enough.
You may be much better off doing an Orlando short sale. At the end of the day, it’s just a house, it’s not part of your family. By doing an Orlando short sale, not only will you be free of your lender forever, but you can get enough cash back to start over and get yourself into a much better situation than you would be agreeing to the terms of a loan modification.
As always, if you have questions about anything to do with Orlando real estate. Call us and set up a free consultation with an Orlando real estate expert.
