The Lake Club Property Owners Benefit From Short Sales In Lakewood Ranch Florida

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The Lake Club Property Owners Benefit From Short Sales In Lakewood Ranch Florida

As is the case throughout Florida, residents of the Lake Club subdivision in Lakewood Ranch have been touched by the Foreclosure crisis that is plaguing the rest of the nation.

Just as Florida Gulf Coast housing prices had soared during the height of the boom, the "bust" has caused local property values to plummet precipitously. This, combined with the general decline of the overall economy and increase in the area's unemployment rate, has created a situation where nearly 50% of all Manatee County mortgages are "underwater" -- where the current market value of a property is less than the remaining mortgage balance.

Realizing that having a Foreclosure on one's financial record can have devastating, long-term consequences in terms of future employment, credit, insurance, and housing opportunities, many Lake Club homeowners are turning to Short Sales as a viable and honorable alternative to foreclosure that preserves credit and allows them to regain their financial footing much more quickly, and without the stigma and personal embarrassment that foreclosure can bring.

A Short Sale is simply defined as the sale of a property for less than the remaining mortgage balance. You might be surprised to learn that because of the expense and difficulty of the foreclosure process, most lenders are almost always willing to approve a properly prepared and presented Short Sale application. Unfortunately, therein lies the crux of why many Short Sales fail to gain approval and eventually end in Foreclosure -- you MUST be sure to employ an experienced and competent Short Sale Team.

To learn more about the SaraMana Properties preForeclosure & Short Sale Assistance Team and how we can virtually guarantee a successful Short Sale on your behalf CLICK HERE, or call us directly at 941-822-5221.

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