Tampa Bay Area Home Owners – Real
Estate Short Sale Tip #2
You have missed or are about to miss a mortgage payment. You’ve called your lender and they said they can’t help you at this point. Your upset because you work hard and always paid your mortgage on time.
Be realistic and be honest with yourself. Sit down with whom ever you are going to make that decision with. Where do you see yourself in 12 months. You’ve got options at this point.
- Refinance, but only if that is going to help and not prolong your problem
- Live in the house, try to earn more money
- Put the house on the Market. if market value isn’t greater than your mortgage amount talk to your mortgage co. or Professional Realtor about a short sale.
- Live in the house until it is foreclosed or you declare chapter 13 bankruptcy.
Obviously if you have equity in your home you don't want to be foreclosed on. If you declare bankruptcy you have to keep up with existing payments while catching up on past payments.
Please Contact John Montesano for information on Pre foreclosure and short sales in the Tampa Bay area.