Wendy Morris Presents:
The Florida Dream
Wendy Morris Realty
Dr Phillips Luxury Real Estate
407 479-8583
Call Today!

Listing Search

CENTRAL FLORIDA FORECLOSURES 32819 | 32836 | Wendy Morris Realty 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. If I can be of any help feel free to call me at 407 479-8583.


CENTRAL FLORIDA FORECLOSURES 32819 | 32836 | Wendy Morris Realty Dr Phillips
CENTRAL FLORIDA FORECLOSURES 32819 | 32836 | Wendy Morris Realty Dr Phillips

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 1/22/21 4:36 PM)
Featured Listings
Orlando Real Estate
$256,300
3 BED
2 BATH
Perfect 3/2 condo available in the upscale resort community of Vista Cay. Fully-furnished with tasteful finishes and neu... Read More
Orlando Real Estate
$1,150,000
4 BED
4.5 BATH
Beautiful Home located on the heart of Dr Phillips with walking distance to restaurants. Fully furnished. Custom made w... Read More
Orlando Real Estate
$325,000
3 BED
2.5 BATH
Welcome home to your extensively updated light and bright townhome in desirable and gated Sandpointe in the heart of Dr.... Read More
Orlando Real Estate
$875,000
5 BED
3 BATH
Brand new barrel-tiled roof just installed less than a month ago! Newly painted exterior! The best in luxury living!! Yo... Read More
Orlando Real Estate
$489,900
4 BED
2.5 BATH
Let the beauty and ease of this home captivate you as you step inside. Featuring 4 bedrooms and 2.5 bathrooms this home ... Read More
Orlando Real Estate
$399,000
2 BED
2 BATH
Come see this beautifully renovated one story, 2 car garage villa located in the sought after Orange Tree Golf Communit... Read More
Orlando Real Estate
$158,000
2 BED
2.5 BATH
LOCATION LOCATION LOCATION! 2 story - townhome style condo with nearly 1, 200 sq ft of living space under AC boasts 2 ma... Read More
Orlando Real Estate
$379,900
3 BED
2 BATH
CLUBHOUSE ESTATES POOL HOME in Dr Phillips. NEW ROOF! 3 bed 2 bath, over 1700 sf single story home. Large living room w... Read More
Orlando Real Estate
$460,000
4 BED
2.5 BATH
Located in highly sought after Dr. Philips school system, minutes from Restaurant Row, shopping centers, and the them... Read More
Orlando Real Estate
$159,000
2 BED
2.5 BATH
Spacious townhome style condo in a great location! This unit has a welcoming and cozy latout, covered patio. Talk about... Read More
Contact Kevin Strawter

407 479-8583

Wendy Morris LLC
DBA Wendy Morris Realty
Licensed in the State of Florida
BK 3146762
11256 Lemon Lake Blvd
Orlando, FL 32836

Your privacy is our utmost concern. We will never sell your personal information. Privacy Policy
©2011 -2021 drphillips.info - all rights reserved. | Site Map | CENTRAL FLORIDA FORECLOSURES 32819 | 32836 | Wendy Morris Realty Dr Phillips