Are you looking for advice on how to stop foreclosure in Florida?
Today, in this video guide, we’re going to talk about foreclosure and options few people know about.
First, when you fall behind on your mortgage payments, you should contact your bank and explain the situation.
You can maybe set up a repayment plan or a loan modification or maybe a forbearance. This is basically a hold on your payments for a specific amount of time.
You can learn more specifically about Florida foreclosure laws if you’re not sure which options make sense for you.
What to do if talking to your bank fails to stop your foreclosure
If everything fails, maybe you would have to consider selling your house.
You’ll have to see if your house has equity or if it’s basically upside down. Which means that you owe more than your house is worth.
If your house has equity, then you can basically do a straight sale and sell house Fast Miami. This will get rid of all your mortgage payments, eliminate all of your problems, and get some money in your pocket.
If your house is upside down, then you will need to consider a short sale, which is still a good option.
At least you will get rid of your monthly payments, that you can no longer afford.
Always remember, never wait for the last moment to do this.
Don’t wait until the last minute
If you wait too long, you might lose your house. Your bank might file for a deficiency judgment, which means that you owe that money anyways to the bank. So you lose your house, you owe the money, and you have a foreclosure on your record for the next 10 years.
If you want more advice on how to stop foreclosure in Florida and sell your house, contact us today and we can help.
If you’ve already exhausted all of your options, we can also make you a fair offer today.
Interested in selling your home?
Get in touch with Property Nation today to explore your options.