Wendy Morris Presents:
The Florida Dream
Wendy Morris Realty
Dr Phillips Luxury Real Estate
407 575 5392
Call Today!

Listing Search

CENTRAL FLORIDA FORECLOSURES | 32819 | 32836 | Dr. Phillips

NEXT
PREV

CENTRAL FLORIDA FORECLOSURES

Looks like it is inevitable sometime next year pre-foreclosures will start. Lifestyles has dramatically changed and definitely COVID-19 has taken over the whole world. Many office buildings are losing rent with companies working from home and laying off many workers due to this pandemic. The majority or all big businesses have went to minimum manning to minimize the spread of this deadly disease. This is serious. With loss of revenue for businesses, it is not beneficial to pay rent to include utilities, employees and make a profit. So now with layoff's employees do not have the same income that is sufficient to maintain all bills. Even landlords are affected with little or no help from the government. It's best to try and work something out with the bank prior 90 days behind in your mortgage.

WHAT HAPPENS NOW

Owners are officially notified by banks letting them know of their current circumstance and actual options after 90 days. They try to work the best they can with homeowner due to current situation. However Congress supplement to homeowners is not enough to maintain their home and credit in good standing. This is detrimental to the economy. 

IN THE LONG RUN 

This will be a field day for investors/home buyers and many that has lot's of money saved. There will be an overwhelming availability of commercial property and residential up for another round of short sales. This kicks into a deeper recession. This is where the owner becomes 90 days delinquent and lis pending goes into effect on county records which spiral into pre foreclosure. Then into foreclosure and bank takes over asset. Banks can give cash for keys for you to quietly leave because it cost them more in court to have you served a foreclosure notice by a process server and take you to court. Home is assigned to a brokerage to sell home for a short sale. 

This means home will be sold for less than it is worth. Once sold the bank will issue a 1099 to the owner for the difference that is taxable and counts as income. Ensure you submit this 1099 to your accountant for the following year taxes. You will eventually receive a document that the loan was satisfied by the bank. Americans need to be educated to a degree by a seasoned realtor with knowledge of short sales and or in depth from an attorney of this process so that they understand their rights. Yes this is depressing and many homeowners and business owners may face this scenario. Believe me, banks do not like this process, nor process servers. It truly looks like this is not happening due to homebuyer demand and housing shortage as the pandemic has died down 2022 and interest rates on the rise. If I can be of any help as a trusted advisor and professional realtor, feel free to call me at 407 479-8583. Facebook Kevin Sells Florida and Kevin Selling Florida. Click here to learn more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html



All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: Stellar MLS (updated 5/22/24 10:08 AM) |
Featured Listings
Orlando Real Estate
$580,000
4 BED
2 BATH
Now is the time to see this fantastic fully remodeled house in the heart of Dr Phillip's. This spacious pool home sits o... Read More
Orlando Real Estate
$230,000
3 BED
2 BATH
One or more photo(s) has been virtually staged. Back on the market!! Buyer's financing fell thru. Property appraised at ... Read More
Orlando Real Estate
$439,900
3 BED
2 BATH
Introducing this charming residence nestled in the heart of a sought-after Orlando locale. Step into a welcoming abode b... Read More
Orlando Real Estate
$695,000
3 BED
2 BATH
with 3 Bedrooms and 2 full bathrooms, great room, dining room and chef’s kitchen. Plenty of space featuring split bedr... Read More
Orlando Real Estate
$235,000
2 BED
2 BATH
Take a look at this gorgeous LAKEFRONT CONDO recently updated condominium, located near Universal Studios and everythin... Read More
Orlando Real Estate
$182,500
1 BED
1 BATH
AMAZING LAKEFRONT LIVING under $200k! Located in desireable Dr Phillips, this absolutely gorgeous condo is ready for yo... Read More
Orlando Real Estate
$342,000
3 BED
2 BATH
Welcome Home to the Sandlake Private Residences Community! This unit is completely remodled with a completely NEW kitch... Read More
Orlando Real Estate
$1,150,000
4 BED
3.5 BATH
This stunning home is a true masterpiece of design and luxury. From the moment you approach, you’re greeted by an elega... Read More
Orlando Real Estate
$972,700
5 BED
3 BATH
Under Construction. At Pulte, we build our homes with you in mind. Every inch was thoughtfully designed to best meet yo... Read More
Orlando Real Estate
$525,000
4 BED
2 BATH
MUST SEE! Welcome home to this 4 bedroom, 2 bathroom home in the gated Cypress Chase community. Inside you're greeted b... Read More
Contact Kevin Strawter

407 575 5392

Wendy Morris LLC
DBA Wendy Morris Realty
Licensed in the State of Florida
BK 3146762
16797 Broadwater Avenue
Winter Garden, Florida 34787

Your privacy is our utmost concern. We will never sell your personal information. Privacy Policy
©2011 -2024 drphillips.info - all rights reserved. | Site Map | CENTRAL FLORIDA FORECLOSURES | 32819 | 32836 | Dr. Phillips