Jacksonville Short Sale Realtor

 

Mortgage delinquencies and unemployment rates are at all time highs right now in most of the country. More than one out of every two (50%) of home owners in the Jacksonville Florida who have a mortgage on their property owe more than the value of their property, or would be forced to bring money they don’t have to closing if they had to sell their property.  One out of every six home owners in the greater Jacksonville area are delinquent in their mortgage payments. Times are tough right now.  If you have found yourself in a position where you must sell your property in this economic climate, you are not alone. As a Jacksonville short sale specialist who is experienced in helping home owners in your situation, I am here to inform you about all of the options available to you and offer you no cost assistance. With my assistance, you may be able to salvage your credit, avoid foreclosure and get a fresh start.

What is a real estate short sale?
A short sale is a term to describe a transaction in real estate when a lender is willing to accept a lower pay off on a loan than what is currently owed.

How do I qualify for a short sale in Jacksonville, FL?
While lenders have become more lenient in recent times, there are three qualifications that are usually required in order to qualify for a mortgage short sale.

  1. The proceeds from the sale of the property, after all closing costs are paid, must less than the amount currently owed on the property.  This is a “given” in most cases, as it qualifies a home owner for a short sale by definition.
  2. Financial hardship. A hardship of some kind is still required in almost every circumstance.  Some typically acceptable hardships are; legal separation or divorce, loss of income or employment,  relocation or job transfer, severe illness or death of one of the borrowers, major illness and medical bills, property condition is in distress without resources to make repairs, rental properties that are vacant or not rentable. I always say that a short sale typically is not for those who want to sell, but only for those that have to sell.
  3. Financial Insolvency (no other major assets, especially liquid assets),

As long as you meet those three requirements, you should have no problem qualifying for a mortgage short sale.

Your Jacksonville short sale Realtor

I got started in real estate in 2005, and quickly jumped to the top 1% in sales among over 5,000 Realtors in Northeast Florida during my first full year in 2006.  In 2007 as the market spiraled out of control and home prices plummeted, I realized I had a calling with short sales.  I am a Jacksonville FL short sale specialist and have helped hundreds of area home owners avoid mortgage foreclosure with a short sale.  There are also many incentives available to home owners to complete a short sale.  I have personally helped home owners get as much as $35,000 BACK at closing to complete a short sale.  Contact me to discuss lender incentives and relocation incentives that may be available to you to complete a short sale.  Don’t trust your financial future to just any agent claiming to be a “distressed property expert” after taking some weekend training class. I’ve help several hundred local home owners such as yourself complete a short sale.  Click here to view some short sale client testimonials and approval letters, and please don’t hesitate to contact me if you have any questions or if I can assist you in any way.


Contact us today for more information about the Jacksonville short sale process.


Michael is a Real Estate agent at First Coast Realty Associates (License No. SL123456), covering the greater Jacksonville area.
Phone: 904-733-4911
Email Us

short sale agent in Jacksonville    Jacksonville short sale realtor    short sale specialist in Jacksonville

Helping Jacksonville home owners avoid foreclosure with a short sale.
Michael Linkenauger specializes in short sales in Jacksonville .I am your Jacksonville Short Sale Specialist Realtor and Jacksonville loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.

How will a short sale help avoid a Jacksonville, Florida foreclosure?

Short sale specialist in JacksonvilleWhen the Jacksonville area housing market took a fall a few years back, homeowners were also dealing with the effects of the shrinking economy which was in turn causing more layoffs and less money circulation. Many homeowners who fell into financial hardships scurried to find a way to avoid a foreclosure, while some were not aware of just how many options really are available to homeowners in distress. Today, homeowners are becoming familiar with short sales and the benefits they bring.

If you are searching for alternatives to a foreclosure on your property, then a short sale might be your solution. Why? First let me explain to you what a short sale in Jacksonville real estate actually is: A short sale is a real estate transaction that occurs when a homeowner seeks out approval from their lender in order to sell their home for less than what is currently owed on the home; possibly due to some type of financial hardship. Why might a short sale be your best solution? Well, not only can you avoid a foreclosure but you may also qualify to receive cash incentives once the short sale closes to assist with relocation expenses.

A bonus to avoiding foreclosure and opting for a short sale is having the ability to qualify for cash incentives. Lenders typically vary on their set short sale cash incentives but the Jacksonville HAFA government program will offer $ 3,000 cash back once the short sale is successfully complete. Although it is perfectly legal for you to stay in your home during your short sale, it is always advisable should you qualify for the HAFA program to continue to save money if possible and make reservations for your future living arrangements.

SITEAREA Short Sale RealtorBorrowers who are currently going through their own short sale are realizing the benefits of a short sale to their credit. A foreclosure can drop your credit score 300+ points whereas a short sale will drop your score usually around 50 points. Of course, late payments will tally up for most due to each missed mortgage payments averaging 30 points apiece. Homeowners who may currently or in the future work for the government or any career that requires security clearance may find that having a foreclosure on your credit could hurt your chances of employment or promotion. It is legal and common for employers to run credit checks on potential employees and seeing a foreclosure could give your possible employer a sense of irresponsibility without even knowing the circumstances.

The word “short” in short sale certainly doesn’t refer to the length of time these transactions take.  The short sale process has been known to take some time to complete. Short sale specialists are real estate agents who specialize in short sales; working aggressively to get your home sold. Although in a short sale it is possible to go in solo, with a Jacksonville short sale specialist, your chances of closing out the short sale successfully, is dramatically heightened. Many borrowers are unaware that having a short sale specialist assist your from beginning until the end should ways be at no cost to you. The services of a short sale expert for you will typically be paid by your lender along with all closing costs. So why not have one of those guys on your side?

To find a solution to avoid foreclosure the moment you feel as though action should be taken, contact a Jacksonville short sale Realtor – not only are they experts in short sales they are also highly skilled real estate agents who can assist you with knowing all of your options to avoid foreclosure and help encourage you throughout your current situation. I have helped hundreds of area home owners avoid foreclosure with a short sale and am here to answer any questions you may have about the process.


Contact us today for more information about the Jacksonville short sale process.


Michael is a Real Estate agent at First Coast Realty Associates (License No. SL123456), covering the greater Jacksonville area.
Phone: 904-733-4911
Email Us

short sale agent in Jacksonville    Jacksonville short sale realtor    short sale specialist in Jacksonville

Helping Jacksonville home owners avoid foreclosure with a short sale.
Michael Linkenauger specializes in short sales in Jacksonville .I am your Jacksonville Short Sale Specialist Realtor and Jacksonville loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.

Benefits of a Short Sale vs. Foreclosure

When you are losing your home, the last thing you want to think about is what options you have to lose it. However, if you are careful about managing the situation, there is certainly hope that in the future you can own another home, perhaps a better one than the one you are losing, for less! Below, we will look at the advantages of a short sale vs. a foreclosure and how choosing to short sale can save your credit, protect you from a deficiency judgment, and prepare you to own a new home in the future.

If we look at the basic definition of a short sale vs. a foreclosure, the difference is one of procedure and business. In a short sale, the lender agrees to accept a payment lower than the original loan, if the home is sold. A foreclosure, according to textbook definition, is the termination of ownership resulting from a default in payment. In the case of a full-on foreclosure, the homeowner usually ends up in terrible debt, and the lender loses an incredible amount of profit. When there is negative equity a lender usually prefers a short sale. Through a short sale, both the ex-owner and the lender receive at least some amount of financial relief.

Why is a Foreclosure so Harmful?

Perhaps the most damaging aspect of a foreclosure, other than the debt and credit damage, is the limits imposed on your future chances of owning anything of value, namely a new home. The reason a foreclosure is so damaging to your chances of making large investments later in life is that the mark on your credit history is almost impossible to mask, let alone fully eliminate. A foreclosure’s effect on credit scores is by far its worse effect. After a short sale, your credit can recover in 2-3 years, depending on how many missed payments and your current credit history.

What can a Foreclosure do to my Credit History?

The average time a default payment mark remains on your credit history after a foreclosure is approximately 7 years. On the other hand, the mark made by a short sale does not show up on your credit history at all since you will have “settled” or “paid in full” as part of your sale agreement.

How can a Foreclosure lead to Bankruptcy?

Foreclosure can lead a debtor into bankruptcy because the lenders will ask for outrageous payments that many times cause the debtors to default. The judgement received from a foreclosure is generally court ordered and a lot of times asked for all at once. When the lender does allow payments, they are usually unreasonable amounts much higher than your original mortgage payments. What the debtor must comprehend is that the lenders will try as persistently as they can, to collect payment for a home that has decreased significantly in property value. The payments, coupled with other financial pressures oftentimes resulting from the foreclosure process, can lead the debtors down the road to bankruptcy.

Antioch Short Sale Realtor

How can a Short Sale Protect my Credit History?

If you are not forgiven on the debt with a short sale, you will have a deficiency judgment. Keep in mind, most of the time home owners are forgiven though. With short sale the lender usually asks for very reasonable amounts monthly compared to a judgement with a foreclosure. Since payments after a short sale agreement are significantly lower than those resulting from a foreclosure, defaulting is not such an impending danger. Therefore, payments are manageable enough to offset the 50 points deducted from your credit history in as little as 12 months. Keep in mind that the only reason the points would be deducted from your score is if you are late on a payment. If you pay in time each collection period, nothing will show up on your credit score at all. A foreclosure, on the other hand, will deduct a minimum of 250 points from your credit score for at least 8 years and this mark will remain publicly accessible on your credit for at least 10 years. Credit after a foreclosure is the reason owning a home in the future will be very hard.

How can a Short Sale Protect me from Bankruptcy?

After a sale agreement is made and a short sale processed, the lenders usually are satisfied enough not to file a deficiency judgment and the debtor will be financially stable enough that bankruptcy will not be a last resort. A foreclosure, on the other hand, will leave lenders unsatisfied, and the payments they will expect of the debtor could quickly lead to a financial situation in which bankruptcy is inevitable. After you file for bankruptcy, your credit history may take a while to recover. If you are trying to decide between a Jacksonville short sale and foreclosure, keep the dangers of bankruptcy in mind. If you look at this fact alone, and how losing your home could impact your chances of resorting to bankruptcy, short sale is the only reasonable option you have. If you stop foreclosure, you most likely stop bankruptcy.

What are the Advantages of a Jacksonville Short Sale?

A successful short sale agreement allows the debtor to pay back less than the original mortgage called for. This lowers the amount of the debt and by extension, lowers the future expected payments. These lower payments make defaulting less likely, which has a better effect on the debtors credit score and protects him/her from resorting to bankruptcy. The greatest advantage of a Jacksonville short sale is that it allows the debtor to ask for another loan in the future which means that owning a home is not a lost cause. After a short sale, future prospects can still be optimistic.
A foreclosure can completely ruin credit history not only by definition alone, but also by leading the debtor into financial ruin through bankruptcy. A foreclosure does not appease the lender, who in turn charges payments that the debtor cannot make, resulting in default and a cycle of debt reflected clearly in the debtors credit score. The damage to the debtors’ credit history will then make it almost impossible to borrow a money loan in the future, which means that owning a car or a home will be a far-fetched dream.


Contact us today for more information about the Jacksonville short sale process.


Michael is a Real Estate agent at First Coast Realty Associates (License No. SL123456), covering the greater Jacksonville area.
Phone: 904-733-4911
Email Us

short sale agent in Jacksonville    Jacksonville short sale realtor    short sale specialist in Jacksonville

Helping Jacksonville home owners avoid foreclosure with a short sale.
Michael Linkenauger specializes in short sales in Jacksonville .I am your Jacksonville Short Sale Specialist Realtor and Jacksonville loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.

Jacksonville Short Sale Specialist

Short Sale Realtor in JacksonvilleThings are difficult right now in Jacksonville. Unemployment and mortgage delinquencies are at all time highs. More than one out of every three home owners in the US who have a mortgage on their property owe more than the value of their property, or would be forced to bring money they do not have to closing if they had to sell their property. In some areas of the country, including Jacksonville, one out of every five home owners are delinquent in their mortgage payments.

If you have found yourself in a position where you must sell your property in this economic climate, you are not alone. As a Jacksonville short sale specialist agent who is experienced in helping home owners in your situation, I am here to inform you about all of the options available to you and offer you no cost assistance. With my assistance, as your short sale Realtor, you can salvage your credit, avoid foreclosure and get a fresh start.


Contact us today for more information about the Jacksonville short sale process.


Michael is a Real Estate agent at First Coast Realty Associates (License No. SL123456), covering the greater Jacksonville area.
Phone: 904-733-4911
Email Us

short sale agent in Jacksonville    Jacksonville short sale realtor    short sale specialist in Jacksonville

Helping Jacksonville home owners avoid foreclosure with a short sale.
Michael Linkenauger specializes in short sales in Jacksonville .I am your Jacksonville Short Sale Specialist Realtor and Jacksonville loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.

Home prices increasing in Jacksonville, Take Action NOW!

Its official, home prices in Northeast Florida are now on the increase! In the last few months, we have seen prices in some areas and price ranges increase across the board as much as 15%-20%.  It is very quickly turning into a sellers market here! If I can help you in ANY way, please don’t hesitate to contact me.  You can also search homes for sale with the most advanced property search available by going here – www.FirstCoastRE.com/custom3.shtml. Try for yourself if you don’t believe me!  Looking to capitalize off this market? I can also help locate investment properties for you, including deals that may not even be on the market yet!

Also, I have been able to help hundreds of home owners avoid foreclosure over the last few years with a short sale.  That is over 20 million in mortgage debt forgiven in Northeast Florida alone.  If you OR any friends or family may be able to benefit from a short sale, go here to qualify and also to check eligibility for ALL government assistance programs – www.ShortSalesJacksonvilleFL.com.  I’ve helped home owners get as much as 30,000 back to complete a short sale.  I’m here to help, so please keep me in mind if I can be of assistance in ANY way!

First Coast Realty Associates
Mike Linkenauger904-733-4911
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Copyright © 2012 Mike Linkenauger. All rights reserved.

Contact us today for more information about the Jacksonville short sale process.


Michael is a Real Estate agent at First Coast Realty Associates (License No. SL123456), covering the greater Jacksonville area.
Phone: 904-733-4911
Email Us

short sale agent in Jacksonville    Jacksonville short sale realtor    short sale specialist in Jacksonville

Helping Jacksonville home owners avoid foreclosure with a short sale.
Michael Linkenauger specializes in short sales in Jacksonville .I am your Jacksonville Short Sale Specialist Realtor and Jacksonville loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.