Tag: Orlando short sale realtor

Orlando Homeowners Have all the Power!

Posted on by Jenny Zamora

We all know how thousands of Orlando homeowners have suffered through this foreclosure crisis since 2007.  There is another group of individuals that is also feeling the effects of all this…Lenders.

The truth is, banks have taken an extensive beating over the last few years and the effects are starting to show. Lenders don’t have many options when it comes to managing Orlando foreclosure properties. Even the usual process of foreclosure has been anything but reliable.

Orlando Homeowners have all the power.

A homeowner with the right strategy can stay in their home for over three years without making a single mortgage payment. I know this for a fact because several of my clients are in this situation.
Fact: It actually costs the lender less money to let the homeowner stay for free and maintaining the property than it does to evict the homeowner and pay to have the property maintained.

Don’t freak out, go see an Orlando Realty professional

I just cringe every time someone comes in to see us and they tell me that they moved out of there house because they fell behind on their mortgage and they thought that the “Big Bad Bank” was coming to kick them out. Unfortunately, most of the time it’s too late to do anything about it because they’ve already turned the key into the bank and moved into a new lease.
It kills me because if they would’ve just come in to see us when everything first happened, they could’ve saved tens of thousands of dollars and lots of stress.

That’s not the way it works!

Here are 3 things that you absolutely need to know if you’ve fallen behind on your mortgage.
1-    Don’t stop talking to your lender! As a matter of fact, call them often and tell them what’s happening with you. Ignoring the situation is the worst thing you can do!
2-    Even if the bank begins foreclosure proceedings, they have to inform you well in advance [in writing] of hearing dates, sale dates, etc. They can’t just kick you out from one day to the next.
3-    Talk to an Orlando Real Estate Expert. It’s free to speak with a top Orlando Realtor and an experienced agent will be able to inform you of all your options and help you come up with the perfect plan for you.

One thing is for sure, there has never been a better time in history to do an Orlando short sale than right now. There are so many homeowners facing foreclosure right now that banks are having to negotiate better and better deals.
We’ve gotten our clients anywhere from $3,000.00 to over $20,000.00 back from the lender depending on what program we‘re able to qualify them for.

Still have questions? Ask me anything, I’m here to help

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Orlando Short Sales Increasing because of Financial Incentives

Posted on by Jenny Zamora

Banks are finally starting to come to the realization that it’s much cheaper to pay off delinquent borrowers as an incentive to short sale their Orlando house than it is to take them through the foreclosure process. I think it’s about time they saw the bigger picture.

Bank of America as well as a few others are currently testing incentives from $5,000-$25,000 here in Florida to see if they should be expanded to more states.  JP Morgan Chase went national with incentives of up to $35,000, and Wells Fargo’s incentive ranges from $3,000-$20,000. If that’s not incentive then I don’t know what is.

These incentives are saving lenders big money compared with the expenses involved in completing a foreclosure. In Florida, where foreclosures go thru the courts, 50% of loans in foreclosure are more than two years past due. No one knows how long they will keep offering these incentives or what determines which sellers will qualify.  You can have two similar sellers, and one might receive the incentive and the other may not receive it.

One thing is for sure though, if you’re looking to do an Orlando short sale, right now is the best time to short sale your house. Never before in history have banks ever been so cooperative and generous to borrowers who have fallen behind on their mortgage.

Here’s more good news… You don’t have to pay the mortgage while the short sale process is happening.  That’s right you stay in the house for free until the short sale is complete.

If you’re considering an Orlando Short Sale on your house,  contact us for a free consultation with one of our short sale specialists and find out exactly where you stand. You’ll be glad you did.

stop foreclosure

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Rising Orlando Foreclosure Filings Can be Deceiving

Posted on by Jenny Zamora

There’s been a lot of buzz about the rising numbers of foreclosure filings in Orlando. The truth is that the increasing number Orlando Foreclosure filings can be deceiving.

It’s important to know numbers and statistics when you’re a Realtor, it’s even more important to know why things are playing out the way they are.

One of the main reasons that the number of foreclosure filings are at an all time high is because lenders had no choice but to put things on hold while this whole robo-signing fiasco got sorted out.
Now that the lenders and lawyers have had a chance to determine what was done legally or not, it’s back to business as usual for the lenders holding all those delinquent mortgages.   This should lead to a massive increase in inventory and I think we are leading into a “perfect storm” type scenario…In a good way.

This is actually a good thing for everyone involved. Think about it, the seller get’s to proceed with a loan mod or short sale so they can be relieved of their debt and move on with their life, the lender recoups a percentage of their money back, a buyer gets a great deal and an Orlando realtor closes another deal.
It’s a win win for everyone involved.

The fact is… As long as Orlando home prices and mortgage interest rates remain low. It will be a busy  year for Orlando Short Sale Realtors.

If you’re considering an Orlando short sale come in for a free consultation with one of our short sale specialists and get all of your questions answered with absolutely no obligation to work with us. You have everything to gain and nothing to loose.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Orlando Short Sales Defining our Market

Posted on by Jenny Zamora

    If you’re an Orlando short sale realtor, you’ve noticed that banks are moving short sale files along much faster than was the case a year, or even six months ago.  Although our company has an unusual 100% closing ratio on Orlando Short sales, most brokers close about half of their short sale files, which still isn’t bad considering all the work that’s involved. Not to mention everything that can go wrong throughout the process if you’re not experienced in the Orlando short sale arena.

   Even though short sales can take anywhere from 2 months to a year from contract to close, people are willing to wait.  Sellers that live in the house that they need to short sale have a huge advantage because they can continue to live in their house rent free until the short sale is completed. This really helps families relieve some financial stress, and ultimately translates into the homeowner being in a much better position financially when it’s time to move.

Potential Orlando home buyers also don’t mind waiting because they know that the payoff will be worth it if they are willing to stay in there and play the game. I believe that right now is the perfect time to buy an Orlando Home. The market is starting to stabilize but you can still get a good deal on an a great Property.  This time next year people who were going to buy Orlando Real Estate and never did are going to be kicking themselves.

 

 

Orlando short sale expert

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Why Pay an Attorney to Do an Orlando Short Sale, Get Help For Free!

Posted on by Jenny Zamora

Save your Money, Hire an Orlando Realtor

When it comes to lawyers doing Orlando short sales, the fact is most people just don’t need them. Foreclosure filings hit a lull in Florida during the last year. The robo-signing scandal caused many banks to put new Florida foreclosures on hold. That’s coming to an end, and we can expect filings to jump again as we’ve been seeing recently.  Orlando homeowners will be looking for help with their situation. The truth is that the process isn’t just hard, It’s scary. We’re talking about potentially getting kicked out of your home.  It’s tough to navigate the system alone and it’s crucial that you get help from a proven Orlando Real Estate Expert.

Here’s the good news: There is a lot of help available in Central Florida for free. That’s right. No charge. On the house, Gratis.
Organizations certified by the U.S. Department of Housing and Urban Development should be the first stop for people who have fallen behind on their mortgage or are worried they’re about to. These nonprofit companies are great resources for people who want to know if they qualify for a loan modification.

Your best option however,  is to speak with a Top Orlando Short Sale Broker.  Not only do they not charge anything to speak with you, but they often times will know a lot more about Orlando Short sales than an attorney will. Most of the time attorneys outsource their short sale files to Orlando Brokers anyway,  since by law, a Broker has to be involved in the transaction to represent the seller.

So why would you pay an Attorney upfront, or at all, when you can hire an Orlando Short Sale Expert for Free? If one of my clients had an extra $2,000 or $3,000 to throw around, I’d much rather see them put that toward their moving expenses, etc  than toward attorney fees.

When it comes to short sales there’s never a 100% guarantee that a broker or an attorney will produce the results that borrowers want. The difference is that Brokers won’t take your money in the process. As a matter of fact, they only get paid if they close the deal. How’s that for incentive?

It’s actually illegal in the state of Florida for companies to take money upfront in exchange for mortgage modifications. Lawyers, however, are exempt from that rule… Maybe my mom was right, I should have gone to law school.

Far be it from me to say that lawyers are never needed. Legal counsel is an important part of some foreclosure cases. But watching people plunk down thousands of dollars for help they can get elsewhere for free is just sad. It’s like seeing people suffer from the housing meltdown not once, but twice.

Orlando short sale expert

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields