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

Listing Search

FORECLOSURE AND SHORT SALE | 32819 | 32836 | Dr Phillips

NEXT
PREV

FORECLOSURE

The worst thing any owner do not want is to foreclose on their home. This happens when an owner stops making payments on their home for some odd reason such as hardship. Next step is that it goes into the public record sometime after 90 days (Default). Next stage is pre foreclosure is the starting process for bank to take possession of home. This term (NOD) Notice of Default, notice will be put on front door of default and eviction possible. During that timeframe they may offer you cash for keys. Provided at this time, if owner can not make an agreement to try and bring account up to date. If not they will proceed and take you to court for foreclosure proceedings. Once in bank name, they will rehab home and go up for auction and if not sold the bank will assign home to a brokerage to sell. Owner loses all rights to the home once their name is not attached to home.

SHORT SALE

Short sale is defined when a bank agree to take less than the balance owed. This is lesser of the two evils. Foreclosure severely damages your credit, whereas a short sale you can buy a home 2-3 years provide you kept all your payments current.  Short sales can take up six to ten months provided priced properly. Generally you have to be behind three months in payments to start a short sale process.  You must notify the bank in writing that you are doing a short sale on your home. Each bank procedures are slightly altered. You will receive many forms to fill out and send back through your realtor. Please do this in a timely manner. Short sale stops the foreclosure process. Once home sells, you will receive a 1099C from lender on difference of what is owed minus sale price. This counts as income and how banks legally writes off home on their books.  Tax filing season take this form to your accountant.

IN SUMMARY

Make decision in a timely manner and hire a realtor to do a short sale if you know you cannot bring payments current within ninety days.  This is very important.  Any questions contact me at 407 479-8583 Facebook Kevin Sells Florida and Kevin Selling Florida.


FORECLOSURE AND SHORT SALE | 32819 | 32836 | Dr Phillips
FORECLOSURE AND SHORT SALE | 32819 | 32836 | 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 5/28/22 11:59 PM) |
Featured Listings
Orlando Real Estate
$1,100,000
3 BED
3 BATH
One or more photo(s) has been virtually staged. Beautiful Top floor Luxury Condo in Vizcaya Heights. A Guard Gated Luxur... Read More
Orlando Real Estate
$485,000
3 BED
3 BATH
This very secure luxury High-Rise property with 24/7 security in the heart of Dr. Phillips is in the guard gated communi... Read More
Orlando Real Estate
$675,000
4 BED
3.5 BATH
All buyers must be pre-qualified or show POF prior to show. Please submit all offers on the new FAR/BAR AS-IS contract,... Read More
Orlando Real Estate
$1,250,000
5 BED
5 BATH
Location, location, location!!! This magnificent, bright, and immaculate pool & spa home, FULLY FURNISHED, with al... Read More
Orlando Real Estate
$1,399,000
8 BED
5.5 BATH
Lake front gem just under 2 ACREs, NO HOA, with a large home! Dr Philips, a stone toss to Universal studios, Dr Phil... Read More
Orlando Real Estate
$949,900
4 BED
3 BATH
Nestled in the heart of Dr. Phillips, this is an unique opportunity to live in this highly regarded luxury community. E... Read More
Orlando Real Estate
$1,365,000
6 BED
5 BATH
Dramatic waterfront views abound from this better than new Ruby Lake executive home with pool, set along the shores of ... Read More
Orlando Real Estate
$870,000
5 BED
3.5 BATH
You have found your dream home! This beautiful home offers 4 bedrooms 3.5 baths, amazing kitchen with quartz counter to... Read More
Orlando Real Estate
$575,000
3 BED
2 BATH
One or more photo(s) has been virtually staged. One or more photo(s) has been virtually staged. Enjoy the breathtaking v... Read More
Orlando Real Estate
$1,300,000
6 BED
6 BATH
Quite possibly one of the rarest opportunities you will find in the Dr. Phillips area! The expansiveness of this propert... 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 -2022 drphillips.info - all rights reserved. | Site Map | FORECLOSURE AND SHORT SALE | 32819 | 32836 | Dr Phillips